The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same four filters from their SEC filings — so the comparison is apples to apples. The method is fully public.
| Measure | NFG | CWCO | CLH | AWR |
|---|---|---|---|---|
| Moat Score (0–100) | 56 | 60 (highest) | 58 | 54 |
| Pricing power | 96 (highest) | 70 | 55 | 84 |
| Returns on capital | 48 (highest) | 25 | 26 | 48 (highest) |
| Balance-sheet safety | 33 | 100 (highest) | 76 | 19 |
| Capital discipline | 32 | 57 | 95 (highest) | 56 |
| Margin of safety | 15% below value (highest margin of safety) | 41% above value | 127% above value | 63% above value |
| Market cap | $7.3B | $465.7M | $16.4B | $3.5B |
| Moat tier | Shallow moat | Narrow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |