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.

PAYSIGN, INC.

PAYS · Technology · Shallow moat

Shallow moat

Doesn't clear the bar

Simulations Plus, Inc.

SLP · Technology · Shallow moat

Shallow moat

Doesn't clear the bar

Micron Technology, Inc.

MU · Technology · Shallow moat

Shallow moat

Doesn't clear the bar

ON Semiconductor Corporation

ON · Technology · Shallow moat

Shallow moat

Doesn't clear the bar

Measure	PAYS	SLP	MU	ON
Moat Score (0–100)	54 (highest)	54 (highest)	54 (highest)	54 (highest)
Pricing power	74	92 (highest)	37	51
Returns on capital	0	36	61	62 (highest)
Balance-sheet safety	100 (highest)	55	96	40
Capital discipline	60	24	28	61 (highest)
Margin of safety	352% above value	148% above value	803% above value	98% above value (highest margin of safety)
Market cap	$471.0M	$367.1M	$952.5B	$34.7B
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.