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 allocation | 60 | 100 (highest) | 63 | 80 |
| 97% above value if growth stopped today (largest discount to value if growth stopped today) | 110% above value if growth stopped today | 497% above value if growth stopped today | 344% above value if growth stopped today | |
| Market cap | $21.6B | $10.5B | $15.3B | $4.9B |
| Moat tier | Wide moat | Wide moat | Wide moat | Wide moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |