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.
| Measure | UTHR | ALGN | EXEL | BMI |
|---|---|---|---|---|
| Moat Score (0–100) | 86 | 88 (highest) | 87 | 85 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 100 (highest) | 41 | 95 | 100 (highest) |
| Pricing power | 100 (highest) | 99 | 100 (highest) | 67 |
| Returns on capital | 97 | 100 (highest) | 76 | 79 |
| Balance-sheet safety | 73 | 100 (highest) | 100 (highest) | 100 (highest) |
| Capital discipline | 60 | 100 (highest) | 63 | 80 |
| Price vs. high estimate | 30% above high estimate (largest discount to high estimate) | 138% above high estimate | 249% above high estimate | 161% above high estimate |
| Market cap | $23.1B | $11.9B | $14.5B | $4.7B |
| Moat tier | Wide moat | Wide moat | Wide moat | Wide moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |