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.
| Measure | KMI | RSG | WM | CWCO |
|---|---|---|---|---|
| Moat Score (0–100) | 71 | 76 (highest) | 70 | 69 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 67 | 100 (highest) | 98 | 95 |
| Pricing power | 88 (highest) | 68 | 66 | 70 |
| Returns on capital | 22 | 84 (highest) | 42 | 22 |
| Balance-sheet safety | 100 (highest) | 37 | 56 | 100 (highest) |
| Capital discipline | 80 | 94 (highest) | 88 | 57 |
| Price vs. high estimate | 149% above high estimate | 115% above high estimate | 132% above high estimate | 42% above high estimate (largest discount to high estimate) |
| Market cap | $73.1B | $67.0B | $96.2B | $468M |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |