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.
WAY · Technology · Shallow moat
Doesn't clear the bar
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
| Measure | WAY | RGP | KVYO | ASAN |
|---|---|---|---|---|
| Moat Score (0–100) | 49 (highest) | 49 (highest) | 49 (highest) | 48 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 85 (highest) | 29 | 65 | 63 |
| Pricing power | — | 67 | 100 (highest) | 100 (highest) |
| Returns on capital | 0 | 32 (highest) | 0 | 0 |
| Balance-sheet safety | 50 | 55 (highest) | 55 (highest) | 55 (highest) |
| Capital discipline | 60 | 61 (highest) | 24 | 24 |
| Price vs. high estimate | 199% above high estimate | 57% below high estimate (largest discount to high estimate) | No price data | No price data |
| Market cap | $4.2B | $146.2M | $5.3B | — |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2026 |