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.
FRHC · Other · No moat
Doesn't clear the bar
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
| Measure | NCPL | ABIT | FRHC | AGPU |
|---|---|---|---|---|
| Moat Score (0–100) | 39 (highest) | 39 (highest) | 39 (highest) | 39 (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 | 20 | 0 | 27 (highest) | 25 |
| Pricing power | 94 (highest) | 15 | 28 | 70 |
| Returns on capital | 9 | 83 (highest) | — | 0 |
| Balance-sheet safety | 28 | 55 | 78 (highest) | 55 |
| Capital allocation | 44 (highest) | 44 (highest) | 25 | 44 (highest) |
| No price data | No price data | 306% above value if growth stopped today | No price data | |
| Market cap | $1.3M | $18.4M | $9.3B | $43.4M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2026 | FY2025 |