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.
| Measure | CWCO | KMI | WM | CLH |
|---|---|---|---|---|
| Moat Score (0–100) | 69 | 71 (highest) | 70 | 67 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 95 | 67 | 98 (highest) | 95 |
| Pricing power | 70 | 88 (highest) | 66 | 55 |
| Returns on capital | 22 | 22 | 42 (highest) | 15 |
| Balance-sheet safety | 100 (highest) | 100 (highest) | 56 | 76 |
| Capital allocation | 57 | 80 | 88 | 95 (highest) |
| 130% above value if growth stopped today (largest discount to value if growth stopped today) | 149% above value if growth stopped today | 276% above value if growth stopped today | 259% above value if growth stopped today | |
| Market cap | $468M | $73.1B | $96.2B | $16.1B |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |