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 | TNON | ADPT | SCND | HBIO |
|---|---|---|---|---|
| Moat Score (0–100) | 37 | 38 (highest) | 37 | 37 |
| Pricing power | 58 | 91 (highest) | 55 | 89 |
| Returns on capital | 0 | 0 | 4 (highest) | 0 |
| Balance-sheet safety | 55 (highest) | 28 | 55 (highest) | 28 |
| Capital discipline | 44 (highest) | 24 | 44 (highest) | 24 |
| Margin of safety | No price data | No price data | No price data | No price data |
| Market cap | $2.2M | $3.5B | $8.0M | $278.6M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |