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.
WHG · Other · 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%.
SIEB · Other · 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%.
SNEX · Other · Shallow moat
Doesn't clear the bar
The balanceSheet component abstained: Insufficient leverage/coverage inputs to score the balance sheet. The other four 20% weights were renormalized over the scored 80%.
| Measure | WHG | SIEB | ABX | SNEX |
|---|---|---|---|---|
| Moat Score (0–100) | 45 | 51 (highest) | 50 | 44 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 52 | 22 | 57 (highest) | 46 |
| Pricing power | — | — | 100 (highest) | 70 |
| Returns on capital | 11 | 56 (highest) | 24 | 0 |
| Balance-sheet safety | 100 (highest) | 100 (highest) | 9 | — |
| Capital discipline | 18 | 24 | 60 (highest) | 60 (highest) |
| Price vs. high estimate | No price data | 13% below high estimate (largest discount to high estimate) | 305% above high estimate | 37% above high estimate |
| Market cap | — | $67.1M | $1.0B | $3.7B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |