The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same five investor questions from their SEC filings — so the comparison is apples to apples. The method is fully public.
MRVI · Healthcare · Shallow moat
Doesn't clear the bar
ANAB · Healthcare · Shallow moat
Doesn't clear the bar
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
| Measure | MRVI | CDNA | ARDX | ANAB |
|---|---|---|---|---|
| Moat Score (0–100) | 43 (highest) | 43 (highest) | 43 (highest) | 43 (highest) |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 15 | 43 | 65 (highest) | 63 |
| Pricing power | 60 | 88 | 96 (highest) | — |
| Returns on capital | 67 (highest) | 4 | 0 | 5 |
| Balance-sheet safety | 28 | 55 | 28 | 78 (highest) |
| Capital allocation | 44 (highest) | 24 | 24 | 24 |
| No price data | No price data | No price data | No price data | |
| Market cap | $1.0B | $3.4B | $799M | $1.4B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2026 |