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 | SPAI | QURT | IRIX | APVO |
|---|---|---|---|---|
| Moat Score (0–100) | 30 | 31 (highest) | 31 (highest) | 30 |
| Pricing power | 48 | 28 | 67 (highest) | 47 |
| Returns on capital | 0 | 14 (highest) | 0 | 0 |
| Balance-sheet safety | 55 (highest) | 55 (highest) | 28 | 55 (highest) |
| Capital discipline | 24 | 37 (highest) | 24 | 24 |
| Margin of safety | No price data | No price data | No price data | No price data |
| Market cap | $80.7M | $7.9M | $16.2M | $4.7M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |