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.
AROC · Utilities · Narrow moat
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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 | AROC | CWCO | CLH | GNE |
|---|---|---|---|---|
| Moat Score (0–100) | 63 | 69 (highest) | 67 | 61 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 100 (highest) | 95 | 95 | 57 |
| Pricing power | 52 | 70 (highest) | 55 | 27 |
| Returns on capital | — | 22 | 15 | 90 (highest) |
| Balance-sheet safety | 20 | 100 (highest) | 76 | 100 (highest) |
| Capital discipline | 80 | 57 | 95 (highest) | 32 |
| Price vs. high estimate | 421% above high estimate | 42% above high estimate | 122% above high estimate | 41% below high estimate (largest discount to high estimate) |
| Market cap | $6.3B | $468M | $16.1B | $380M |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |