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 | TNDM | SNOA | RGNX | TELA |
|---|---|---|---|---|
| Moat Score (0–100) | 36 (highest) | 36 (highest) | 36 (highest) | 36 (highest) |
| Pricing power | 72 | 54 | 79 | 85 (highest) |
| Returns on capital | 0 | 0 | 7 (highest) | 0 |
| Balance-sheet safety | 28 | 55 (highest) | 28 | 28 |
| Capital discipline | 44 (highest) | 44 (highest) | 24 | 24 |
| Margin of safety | No price data | No price data | No price data | No price data |
| Market cap | $1.2B | $2.2M | $503.3M | $32.6M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2026 | FY2025 | FY2025 |