The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same four filters from their SEC filings — so the comparison is apples to apples. The method is fully public.
| Measure | NDAQ | RILY | CBOE | ABX |
|---|---|---|---|---|
| Moat Score (0–100) | 54 | 69 (highest) | 65 | 51 |
| Pricing power | 96 | 94 | 53 | 100 (highest) |
| Returns on capital | 30 | 96 (highest) | 57 | 24 |
| Balance-sheet safety | 19 | 0 | 100 (highest) | 9 |
| Capital discipline | 60 (highest) | 60 (highest) | 60 (highest) | 60 (highest) |
| Margin of safety | 158% above value | No price data | 90% above value (highest margin of safety) | 153% above value |
| Market cap | $52.2B | $209.0M | $28.6B | $1.0B |
| Moat tier | Shallow moat | Narrow moat | Narrow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |