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.
SLS · 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%.
DVA · Healthcare · Shallow 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%.
PHAT · 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 | SLS | PBYI | DVA | PHAT |
|---|---|---|---|---|
| Moat Score (0–100) | 52 (highest) | 52 (highest) | 52 (highest) | 52 (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 | 10 | 62 | 78 (highest) | 60 |
| Pricing power | 97 (highest) | 95 | — | 95 |
| Returns on capital | — | 14 | 60 (highest) | — |
| Balance-sheet safety | 55 | 64 (highest) | 12 | 28 |
| Capital discipline | 44 | 24 | 58 (highest) | 24 |
| Price vs. high estimate | No price data | 14% above high estimate | Around the high estimate (largest discount to high estimate) | No price data |
| Market cap | $1.9B | $418.4M | $16.0B | $760.6M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |