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.
NWE · 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%.
PPL · 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%.
FE · 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 | NWE | PPL | VIVK | FE |
|---|---|---|---|---|
| Moat Score (0–100) | 20 | 22 (highest) | 20 | 20 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 50 | 85 (highest) | 50 | 56 |
| Pricing power | — | — | 0 | — |
| Returns on capital | 1 (highest) | 0 | 0 | 0 |
| Balance-sheet safety | 0 | 2 | 28 (highest) | 0 |
| Capital allocation | 29 (highest) | 0 | 24 | 24 |
| 116% above value if growth stopped today (largest discount to value if growth stopped today) | 224% above value if growth stopped today | No price data | 155% above value if growth stopped today | |
| Market cap | $4.5B | $27.2B | $5.9M | $28.8B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |