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.
HE · 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%.
FE · 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%.
PPL · 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 | HE | FE | PPL | SNTW |
|---|---|---|---|---|
| Moat Score (0–100) | 14 | 16 (highest) | 15 | 13 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 42 | 39 | 58 (highest) | 0 |
| Pricing power | — | — | — | 15 |
| Returns on capital | 5 (highest) | 0 | 0 | 0 |
| Balance-sheet safety | 9 | 0 | 2 | 28 (highest) |
| Capital discipline | 0 | 24 (highest) | 0 | 24 (highest) |
| Price vs. high estimate | 2% above high estimate (largest discount to high estimate) | 147% above high estimate | 217% above high estimate | No price data |
| Market cap | $2.3B | $28.0B | $26.6B | $9.0M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |