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.
NWN · 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%.
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%.
CPK · 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 | NWN | NJR | IDA | CPK |
|---|---|---|---|---|
| Moat Score (0–100) | 39 | 40 (highest) | 40 (highest) | 38 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 71 | 92 (highest) | 79 | 83 |
| Pricing power | — | — | — | — |
| Returns on capital | 1 | 5 | 39 (highest) | 5 |
| Balance-sheet safety | 40 (highest) | 5 | 0 | 4 |
| Capital discipline | 44 | 56 | 40 | 60 (highest) |
| Price vs. high estimate | 72% above high estimate | 19% above high estimate (largest discount to high estimate) | 72% above high estimate | 97% above high estimate |
| Market cap | $2.1B | $5.9B | $8.1B | $3.2B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |