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.

Omnicell, Inc.

OMCL · Technology · Shallow moat

Shallow moat

Doesn't clear the bar

Certara, Inc.

CERT · Technology · Shallow moat

Shallow moat

Doesn't clear the bar

COURSERA, INC.

COUR · Technology · Shallow moat

Shallow moat

Doesn't clear the bar

SES AI Corporation

SES · Technology · Shallow moat

Shallow moat

Doesn't clear the bar

Measure	OMCL	CERT	COUR	SES
Moat Score (0–100)	45 (highest)	45 (highest)	45 (highest)	45 (highest)
Pricing power	75	100 (highest)	84	88
Returns on capital	4 (highest)	0	0	0
Balance-sheet safety	100 (highest)	40	55	55
Capital discipline	6	36	44 (highest)	35
Margin of safety	313% above value (highest margin of safety)	560% above value	No price data	No price data
Market cap	$2.1B	$1.1B	$933.5M	$233.1M
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.