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.
VFF · Agriculture · Shallow 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%.
CVAT · Agriculture · Shallow 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 | VFF | CALM | GTBIF | CVAT |
|---|---|---|---|---|
| Moat Score (0–100) | 50 | 58 (highest) | 52 | 47 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 60 | 87 (highest) | 79 | 23 |
| Pricing power | 0 | 10 | 80 | 84 (highest) |
| Returns on capital | — | 40 (highest) | 7 | — |
| Balance-sheet safety | 78 (highest) | 73 | 67 | 55 |
| Capital discipline | 60 | 79 (highest) | 24 | 24 |
| Price vs. high estimate | No price data | No price data | 24% above high estimate | No price data |
| Market cap | $225.7M | — | $1.7B | $8.7M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |