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.
ED · Utilities · No 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%.
BKH · Utilities · No 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%.
UGI · Utilities · No 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%.
ET · Utilities · No 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 | ED | BKH | UGI | ET |
|---|---|---|---|---|
| Moat Score (0–100) | 31 | 32 (highest) | 31 | 31 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 82 (highest) | 62 | 29 | — |
| Pricing power | — | — | — | 32 |
| Returns on capital | 4 | 3 | 29 (highest) | 11 |
| Balance-sheet safety | 1 | 2 | 5 (highest) | 1 |
| Capital allocation | 37 | 60 | 63 | 80 (highest) |
| 102% above value if growth stopped today | 95% above value if growth stopped today | No price data | 14% above value if growth stopped today (largest discount to value if growth stopped today) | |
| Market cap | $40.8B | $5.7B | Not reported | $70.0B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |