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.
EVRG · 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%.
WTRG · 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%.
CEG · 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 | EVRG | WTRG | LNT | CEG |
|---|---|---|---|---|
| Moat Score (0–100) | 42 (highest) | 42 (highest) | 42 (highest) | 42 (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 | 83 | 86 (highest) | 58 | 66 |
| Pricing power | — | — | 100 | — |
| Returns on capital | 8 (highest) | 4 | 3 | 6 |
| Balance-sheet safety | 1 | 2 | 0 | 52 (highest) |
| Capital discipline | 75 | 77 (highest) | 48 | 42 |
| Price vs. high estimate | No price data | No price data | 148% above high estimate (largest discount to high estimate) | 207% above high estimate |
| Market cap | — | — | $19.0B | $79.1B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |