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.
AROC · Utilities · Narrow moat
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The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
| Measure | GNE | CLH | AROC | ATO |
|---|---|---|---|---|
| Moat Score (0–100) | 61 | 67 (highest) | 63 | 55 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 57 | 95 | 100 (highest) | 97 |
| Pricing power | 27 | 55 | 52 | 94 (highest) |
| Returns on capital | 90 (highest) | 15 | — | 4 |
| Balance-sheet safety | 100 (highest) | 76 | 20 | 20 |
| Capital allocation | 32 | 95 (highest) | 80 | 60 |
| 14% above value if growth stopped today (largest discount to value if growth stopped today) | 278% above value if growth stopped today | 329% above value if growth stopped today | 169% above value if growth stopped today | |
| Market cap | $449M | $16.9B | $5.2B | $26.5B |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |