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.
DTM · 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%.
MSEX · 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 | DTM | DUK | WEC | MSEX |
|---|---|---|---|---|
| Moat Score (0–100) | 44 (highest) | 44 (highest) | 44 (highest) | 44 (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 | 97 (highest) | 69 | 76 | 77 |
| Pricing power | — | 100 (highest) | 96 | — |
| Returns on capital | 1 | 0 | 3 | 23 (highest) |
| Balance-sheet safety | 8 | 1 | 1 | 32 (highest) |
| Capital discipline | 70 (highest) | 52 | 43 | 43 |
| Price vs. high estimate | 120% above high estimate | 39% above high estimate (largest discount to high estimate) | 44% above high estimate | 83% above high estimate |
| Market cap | $14.6B | $97.9B | $36.6B | $1.1B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |