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.
EXC · 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%.
NEE · 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 | LNT | EXC | DUK | NEE |
|---|---|---|---|---|
| Moat Score (0–100) | 46 | 47 (highest) | 47 (highest) | 46 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 78 | 96 (highest) | 81 | 86 |
| Pricing power | 100 (highest) | — | 100 (highest) | — |
| Returns on capital | 3 (highest) | 1 | 0 | 3 (highest) |
| Balance-sheet safety | 0 | 40 (highest) | 1 | 40 (highest) |
| Capital allocation | 48 | 52 | 52 | 53 (highest) |
| 125% above value if growth stopped today | 68% above value if growth stopped today (largest discount to value if growth stopped today) | 113% above value if growth stopped today | 117% above value if growth stopped today | |
| Market cap | $17.3B | $43.5B | $92.5B | $164.5B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |