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.
AEP · 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%.
ED · 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%.
ET · Utilities · No moat
Doesn't clear the bar
The businessTrend component abstained: Fewer than two aligned fiscal years of revenue and diluted EPS are available; the filing history does not contain a measurable trend. The other four 20% weights were renormalized over the scored 80%.
RGCO · 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 | AEP | ED | ET | RGCO |
|---|---|---|---|---|
| Moat Score (0–100) | 30 | 31 (highest) | 31 (highest) | 30 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 79 | 82 (highest) | — | 65 |
| Pricing power | — | — | 32 | — |
| Returns on capital | 2 | 4 | 11 (highest) | 1 |
| Balance-sheet safety | 2 (highest) | 1 | 1 | 2 (highest) |
| Capital discipline | 39 | 37 | 80 (highest) | 52 |
| Price vs. high estimate | 10% above high estimate (largest discount to high estimate) | 102% above high estimate | 14% above high estimate | 81% above high estimate |
| Market cap | $73.3B | $40.8B | $70.0B | $227M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |