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.
MNKD · Healthcare · 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%.
GTHP · Healthcare · 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 | NVCR | VERU | MNKD | GTHP |
|---|---|---|---|---|
| Moat Score (0–100) | 37 (highest) | 37 (highest) | 37 (highest) | 37 (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 | 45 | 10 | 75 (highest) | 60 |
| Pricing power | 87 (highest) | 76 | 70 | 15 |
| Returns on capital | 0 (highest) | 0 (highest) | — | — |
| Balance-sheet safety | 28 | 55 (highest) | 2 | 28 |
| Capital allocation | 24 | 44 (highest) | 0 | 44 (highest) |
| No price data | No price data | No price data | No price data | |
| Market cap | $1.6B | $35.7M | $982M | $16.4M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |