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.
TOP · Other · No moat
Doesn't clear the bar
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%.
FRHC · Other · No moat
Doesn't clear the bar
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%.
| Measure | TOP | FRHC | DXR | MIAX |
|---|---|---|---|---|
| Moat Score (0–100) | 38 | 39 (highest) | 38 | 38 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 54 | 27 | 0 | 60 (highest) |
| Pricing power | — | 28 | 91 (highest) | 27 |
| Returns on capital | 0 | — | 0 | 12 (highest) |
| Balance-sheet safety | 55 | 78 (highest) | 55 | 68 |
| Capital allocation | 44 | 25 | 45 (highest) | 24 |
| No price data | 306% above value if growth stopped today | No price data | No price data | |
| Market cap | $81.2M | $9.3B | $43.9M | $3.7B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2026 | FY2026 | FY2011 | FY2025 |