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 | MSEX | OKE | WEC |
|---|---|---|---|---|
| Moat Score (0–100) | 42 | 44 (highest) | 43 | 42 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 91 (highest) | 78 | 90 | 66 |
| Pricing power | — | — | 29 | 96 (highest) |
| Returns on capital | 1 | 23 (highest) | 13 | 3 |
| Balance-sheet safety | 8 | 32 (highest) | 3 | 1 |
| Capital allocation | 70 | 43 | 80 (highest) | 43 |
| 260% above value if growth stopped today | 121% above value if growth stopped today | 99% above value if growth stopped today (largest discount to value if growth stopped today) | 141% above value if growth stopped today | |
| Market cap | $14.8B | $1.0B | $58.7B | $37.7B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |