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.
ETR · 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%.
AEP · 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%.
RGCO · 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%.
POR · 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%.
| Measure | ETR | AEP | RGCO | POR |
|---|---|---|---|---|
| Moat Score (0–100) | 30 (highest) | 30 (highest) | 30 (highest) | 28 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 75 | 79 (highest) | 65 | 71 |
| Pricing power | — | — | — | — |
| Returns on capital | 0 | 2 (highest) | 1 | 2 (highest) |
| Balance-sheet safety | 1 | 2 (highest) | 2 (highest) | 1 |
| Capital allocation | 44 | 39 | 52 (highest) | 36 |
| 142% above value if growth stopped today | 67% above value if growth stopped today (largest discount to value if growth stopped today) | 86% above value if growth stopped today | 88% above value if growth stopped today | |
| Market cap | $47.6B | $68.8B | $234M | $5.1B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |