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.
ADP · Technology · Wide moat
On the watchlist
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%.
PYPL · Technology · Wide moat
Wonderful & reasonably priced
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 | SPSC | AMAT | ADP | PYPL |
|---|---|---|---|---|
| Moat Score (0–100) | 87 (highest) | 87 (highest) | 87 (highest) | 87 (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 | 100 (highest) | 86 | 96 | 89 |
| Pricing power | 100 (highest) | 76 | 72 | — |
| Returns on capital | 54 | 100 (highest) | — | 77 |
| Balance-sheet safety | 100 (highest) | 73 | 80 | 81 |
| Capital discipline | 80 | 100 (highest) | 99 | 100 (highest) |
| Price vs. high estimate | 214% above high estimate | 245% above high estimate | 65% above high estimate | 37% below high estimate (largest discount to high estimate) |
| Market cap | $2.3B | $425.2B | $101.4B | $51.7B |
| Moat tier | Wide moat | Wide moat | Wide moat | Wide moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |