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.
SKIN · Healthcare · Shallow moat
Doesn't clear the bar
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
ADCT · Healthcare · Shallow moat
Doesn't clear the bar
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
| Measure | SKIN | ADCT | BMRN | APT |
|---|---|---|---|---|
| Moat Score (0–100) | 55 (highest) | 55 (highest) | 55 (highest) | 55 (highest) |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 42 | 42 | 80 (highest) | 23 |
| Pricing power | 84 | 100 (highest) | 99 | 57 |
| Returns on capital | — | — | 0 | 33 (highest) |
| Balance-sheet safety | 28 | 55 | 73 | 100 (highest) |
| Capital allocation | 67 (highest) | 24 | 24 | 62 |
| No price data | No price data | 486% above value if growth stopped today | 14% above value if growth stopped today (largest discount to value if growth stopped today) | |
| Market cap | $93.4M | $145M | $11.4B | $49.9M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |