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 | STEX | TNDM | TELA | BDX |
|---|---|---|---|---|
| Moat Score (0–100) | 36 (highest) | 36 (highest) | 36 (highest) | 36 (highest) |
| Pricing power | 71 | 72 | 85 (highest) | 76 |
| Returns on capital | 0 (highest) | 0 (highest) | 0 (highest) | 0 (highest) |
| Balance-sheet safety | 28 (highest) | 28 (highest) | 28 (highest) | 10 |
| Capital discipline | 44 | 44 | 24 | 54 (highest) |
| Margin of safety | No price data | No price data | No price data | Around fair value |
| Market cap | $39.0M | $1.2B | $32.6M | $45.1B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |