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.
HTO · 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%.
DTE · 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 | HTO | ET | ORA | DTE |
|---|---|---|---|---|
| Moat Score (0–100) | 31 (highest) | 31 (highest) | 31 (highest) | 30 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 76 | — | 70 | 78 (highest) |
| Pricing power | — | 32 | 54 (highest) | — |
| Returns on capital | 0 | 11 (highest) | 0 | 4 |
| Balance-sheet safety | 1 (highest) | 1 (highest) | 0 | 1 (highest) |
| Capital discipline | 45 | 80 (highest) | 31 | 39 |
| Price vs. high estimate | 52% above high estimate | 13% above high estimate (largest discount to high estimate) | 181% above high estimate | 95% above high estimate |
| Market cap | $2.3B | $69.8B | $6.3B | $30.3B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |