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 | VPG | DOCU | PANW | RGP |
|---|---|---|---|---|
| Moat Score (0–100) | 56 | 57 (highest) | 57 (highest) | 56 |
| Pricing power | 67 | 100 (highest) | 100 (highest) | 67 |
| Returns on capital | 36 | 25 | 11 | 43 (highest) |
| Balance-sheet safety | 68 | 73 (highest) | 73 (highest) | 55 |
| Capital discipline | 59 | 24 | 44 | 61 (highest) |
| Margin of safety | No price data | 1125% above value | 3646% above value | 55% below value (highest margin of safety) |
| Market cap | — | $10.4B | $239.6B | $153.5M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2026 | FY2025 | FY2025 |