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 | PAHC | CLDX | NEPH | ONC |
|---|---|---|---|---|
| Moat Score (0–100) | 48 (highest) | 48 (highest) | 48 (highest) | 48 (highest) |
| Pricing power | 56 | 95 (highest) | 92 | 94 |
| Returns on capital | 69 (highest) | 0 | 4 | 4 |
| Balance-sheet safety | 30 | 55 | 73 (highest) | 69 |
| Capital discipline | 22 | 44 (highest) | 24 | 24 |
| Margin of safety | No price data | No price data | No price data | No price data |
| Market cap | — | $2.4B | $40.2M | $449.6B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |