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.
ADIA · 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 | SMTI | ANIK | VRCA | ADIA |
|---|---|---|---|---|
| Moat Score (0–100) | 45 | 46 (highest) | 46 (highest) | 45 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 60 | 20 | 50 | 70 (highest) |
| Pricing power | 100 (highest) | 89 | 79 | 40 |
| Returns on capital | 4 | 11 (highest) | 0 | — |
| Balance-sheet safety | 19 | 55 (highest) | 55 (highest) | 28 |
| Capital allocation | 44 | 54 (highest) | 44 | 44 |
| No price data | No price data | No price data | No price data | |
| Market cap | $229M | $208M | $86.2M | $15.1M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |