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 · No 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 · No 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 | NRG | OKE | IDA |
|---|---|---|---|---|
| Moat Score (0–100) | 40 | 41 (highest) | 40 | 40 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 92 (highest) | 70 | 74 | 79 |
| Pricing power | — | 14 | 29 (highest) | — |
| Returns on capital | 5 | 49 (highest) | 13 | 39 |
| Balance-sheet safety | 5 | 7 (highest) | 3 | 0 |
| Capital discipline | 56 | 64 | 80 (highest) | 40 |
| Price vs. high estimate | 19% above high estimate | 12% below high estimate (largest discount to high estimate) | 23% above high estimate | 72% above high estimate |
| Market cap | $5.9B | $24.9B | $58.9B | $8.1B |
| Moat tier | No moat | Shallow moat | Shallow moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |