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.
CEG · 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%.
EVRG · 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%.
WELPP · Utilities · Shallow 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%.
| Measure | CEG | LNT | EVRG | WELPP |
|---|---|---|---|---|
| Moat Score (0–100) | 42 (highest) | 42 (highest) | 42 (highest) | 42 (highest) |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 66 | 58 | 83 (highest) | — |
| Pricing power | — | 100 (highest) | — | 99 |
| Returns on capital | 6 | 3 | 8 | 16 (highest) |
| Balance-sheet safety | 52 (highest) | 0 | 1 | 16 |
| Capital discipline | 42 | 48 | 75 (highest) | 35 |
| Price vs. high estimate | 207% above high estimate | 148% above high estimate (largest discount to high estimate) | No price data | No price data |
| Market cap | $79.1B | $19.0B | — | $2.2B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |