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.
SMC · Utilities · Shallow moat
Doesn't clear the bar
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%.
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%.
| Measure | AWR | SMC | AVA | NI |
|---|---|---|---|---|
| Moat Score (0–100) | 50 | 53 (highest) | 52 | 50 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 74 | 50 | 83 | 87 (highest) |
| Pricing power | 84 | 100 (highest) | — | 100 (highest) |
| Returns on capital | 20 (highest) | — | 2 | 0 |
| Balance-sheet safety | 19 | 0 | 92 (highest) | 2 |
| Capital allocation | 56 | 60 (highest) | 31 | 60 (highest) |
| 155% above value if growth stopped today | 1329% above value if growth stopped today | 82% above value if growth stopped today (largest discount to value if growth stopped today) | 164% above value if growth stopped today | |
| Market cap | $3.4B | $370M | $3.5B | $22.3B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |