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.
AVA · Utilities · Shallow 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%.
CWT · Utilities · Shallow 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 | AVA | LNG | AWR | CWT |
|---|---|---|---|---|
| Moat Score (0–100) | 47 | 48 (highest) | 48 (highest) | 46 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 62 | 74 | 62 | 80 (highest) |
| Pricing power | — | 64 | 84 (highest) | — |
| Returns on capital | 2 | 28 | 20 | 32 (highest) |
| Balance-sheet safety | 92 (highest) | 45 | 19 | 29 |
| Capital discipline | 31 | 31 | 56 (highest) | 43 |
| Price vs. high estimate | 11% above high estimate (largest discount to high estimate) | No price data | 87% above high estimate | 119% above high estimate |
| Market cap | $3.4B | — | $3.5B | $3.1B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |