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.
MSEX · 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%.
DTM · 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 | MSEX | WEC | DTM | TRGP |
|---|---|---|---|---|
| Moat Score (0–100) | 44 (highest) | 44 (highest) | 44 (highest) | 43 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 77 | 76 | 97 (highest) | 69 |
| Pricing power | — | 96 (highest) | — | 15 |
| Returns on capital | 23 (highest) | 3 | 1 | 18 |
| Balance-sheet safety | 32 | 1 | 8 | 53 (highest) |
| Capital discipline | 43 | 43 | 70 (highest) | 60 |
| Price vs. high estimate | 83% above high estimate | 44% above high estimate (largest discount to high estimate) | 120% above high estimate | 316% above high estimate |
| Market cap | $1.1B | $36.6B | $14.6B | $60.6B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |