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 | UP | PLUG | AQMS | ACH |
|---|---|---|---|---|
| Moat Score (0–100) | 10 (highest) | 10 (highest) | 10 (highest) | 8 |
| Pricing power | 0 (highest) | 0 (highest) | 0 (highest) | 0 (highest) |
| Returns on capital | 0 | 0 | 0 | 11 (highest) |
| Balance-sheet safety | 28 (highest) | 28 (highest) | 28 (highest) | 0 |
| Capital discipline | 24 (highest) | 24 (highest) | 24 (highest) | 24 (highest) |
| Margin of safety | No price data | No price data | No price data | No price data |
| Market cap | $4.6B | — | $7.9M | $265.1M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |