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.
ARTNA · 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%.
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%.
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 | ARTNA | AEE | WMB | KGS |
|---|---|---|---|---|
| Moat Score (0–100) | 35 | 36 (highest) | 35 | 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 | 77 | 89 (highest) | 78 | 60 |
| Pricing power | — | — | — | 65 |
| Returns on capital | 0 | 2 | 37 (highest) | 10 |
| Balance-sheet safety | 3 | 2 | 2 | 40 (highest) |
| Capital allocation | 61 (highest) | 51 | 24 | 0 |
| No price data | 145% above value if growth stopped today (largest discount to value if growth stopped today) | 266% above value if growth stopped today | 467% above value if growth stopped today | |
| Market cap | Not reported | $31.4B | $90.4B | $5.1B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |