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.
NJR · 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%.
CEG · 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%.
IDA · 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 | NJR | CEG | TRGP | IDA |
|---|---|---|---|---|
| Moat Score (0–100) | 40 | 41 (highest) | 41 (highest) | 40 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 95 (highest) | 64 | 58 | 82 |
| Pricing power | — | — | 15 | — |
| Returns on capital | 5 | 6 | 18 | 39 (highest) |
| Balance-sheet safety | 5 | 52 | 53 (highest) | 0 |
| Capital allocation | 56 | 42 | 60 (highest) | 40 |
| 68% above value if growth stopped today (largest discount to value if growth stopped today) | 219% above value if growth stopped today | 331% above value if growth stopped today | 157% above value if growth stopped today | |
| Market cap | $5.1B | $82.1B | $62.9B | $7.5B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |