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.

NOCOPI TECHNOLOGIES, INC.

NNUP · Consumer Discretionary · Shallow moat

Shallow moat

Doesn't clear the bar

Solo Brands, Inc.

SBDS · Consumer Discretionary · Shallow moat

Shallow moat

Doesn't clear the bar

Laureate Education, Inc.

LAUR · Consumer Discretionary · Shallow moat

Shallow moat

Doesn't clear the bar

STITCH FIX, INC.

SFIX · Consumer Discretionary · Shallow moat

Shallow moat

Doesn't clear the bar

Measure	NNUP	SBDS	LAUR	SFIX
Moat Score (0–100)	46 (highest)	46 (highest)	46 (highest)	45
Pricing power	70	99 (highest)	25	76
Returns on capital	47 (highest)	7	15	9
Balance-sheet safety	28	28	100 (highest)	55
Capital discipline	24	44	69 (highest)	44
Margin of safety	No price data	No price data	19% above value	No price data
Market cap	$17.3M	$10.8M	$5.2B	$488.1M
Moat tier	Shallow moat	Shallow moat	Shallow moat	Shallow moat
Filings as of	FY2025	FY2025	FY2025	FY2025

Scores reflect business quality, not buy/sell signals. Educational only — not investment advice, and not a recommendation on any company shown. See the methodology and disclaimer.