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.
AVA · 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 | NI | AVA | AWR | OGS |
|---|---|---|---|---|
| Moat Score (0–100) | 50 | 52 (highest) | 50 | 50 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 87 | 83 | 74 | 92 (highest) |
| Pricing power | 100 (highest) | — | 84 | 87 |
| Returns on capital | 0 | 2 | 20 (highest) | 5 |
| Balance-sheet safety | 2 | 92 (highest) | 19 | 31 |
| Capital allocation | 60 (highest) | 31 | 56 | 33 |
| 142% above value if growth stopped today | 59% above value if growth stopped today (largest discount to value if growth stopped today) | 146% above value if growth stopped today | 88% above value if growth stopped today | |
| Market cap | $20.4B | $3.0B | $3.3B | $4.7B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |