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 | PEN | CDRE | BSX | STE |
|---|---|---|---|---|
| Moat Score (0–100) | 59 (highest) | 59 (highest) | 59 (highest) | 59 (highest) |
| Pricing power | 100 (highest) | 68 | 100 (highest) | 73 |
| Returns on capital | 7 | 63 (highest) | 13 | 27 |
| Balance-sheet safety | 73 | 71 | 50 | 82 (highest) |
| Capital discipline | 60 | 28 | 75 (highest) | 60 |
| Margin of safety | 4096% above value | 45% above value (highest margin of safety) | No price data | 103% above value |
| Market cap | $12.5B | $1.2B | — | $21.3B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2026 |