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.
PHAT · Healthcare · 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 | XFOR | WRBY | PHAT | BRKR |
|---|---|---|---|---|
| Moat Score (0–100) | 51 | 52 (highest) | 52 (highest) | 51 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 70 | 85 (highest) | 60 | 58 |
| Pricing power | 88 | 94 | 95 (highest) | 80 |
| Returns on capital | 0 | 0 | — | 84 (highest) |
| Balance-sheet safety | 55 (highest) | 55 (highest) | 28 | 0 |
| Capital allocation | 44 (highest) | 24 | 24 | 34 |
| No price data | No price data | No price data | 199% above value if growth stopped today | |
| Market cap | $350M | $3.1B | $817M | $9.2B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |