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.
PENN · Consumer Discretionary · No moat
Doesn't clear the bar
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
| Measure | PENN | HAS | CVNA | RTB |
|---|---|---|---|---|
| Moat Score (0–100) | 39 (highest) | 39 (highest) | 39 (highest) | 39 (highest) |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 50 | 37 | 75 (highest) | 50 |
| Pricing power | — | 95 (highest) | 0 | 44 |
| Returns on capital | 53 (highest) | 38 | 35 | 0 |
| Balance-sheet safety | 28 | 0 | 40 | 55 (highest) |
| Capital discipline | 24 | 24 | 44 (highest) | 44 (highest) |
| Price vs. high estimate | No price data | 236% above high estimate (largest discount to high estimate) | 517% above high estimate | No price data |
| Market cap | — | $11.5B | $14.4B | $15.5M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |