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.
INDV · Healthcare · Narrow moat
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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 | VNT | INDV | EMBC | CHE |
|---|---|---|---|---|
| Moat Score (0–100) | 70 (highest) | 70 (highest) | 70 (highest) | 69 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 68 | 78 | 36 | 79 (highest) |
| Pricing power | 75 | 100 (highest) | 99 | 0 |
| Returns on capital | 86 | — | 100 (highest) | 100 (highest) |
| Balance-sheet safety | 64 | 58 | 100 (highest) | 73 |
| Capital discipline | 55 | 43 | 15 | 95 (highest) |
| Price vs. high estimate | 31% below high estimate | No price data | 86% below high estimate (largest discount to high estimate) | 135% above high estimate |
| Market cap | $4.4B | $5.1B | $192M | $7.0B |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |