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.
AEE · Utilities · No 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%.
HTO · Utilities · No 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%.
WMB · Utilities · No 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 | AEE | HTO | SR | WMB |
|---|---|---|---|---|
| Moat Score (0–100) | 36 (highest) | 36 (highest) | 36 (highest) | 35 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 89 | 98 (highest) | 54 | 78 |
| Pricing power | — | — | 80 | — |
| Returns on capital | 2 | 0 | 0 | 37 (highest) |
| Balance-sheet safety | 2 (highest) | 1 | 1 | 2 (highest) |
| Capital allocation | 51 (highest) | 45 | 43 | 24 |
| 128% above value if growth stopped today | 121% above value if growth stopped today | 74% above value if growth stopped today (largest discount to value if growth stopped today) | 252% above value if growth stopped today | |
| Market cap | $29.3B | $2.1B | $4.8B | $87.1B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |