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.
OPAL · 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%.
NWN
Score temporarily unavailable — we couldn't reach the scoring service, and we won't show a stale or guessed number.
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%.
| Measure | OPAL | PNW | NWN | CEG |
|---|---|---|---|---|
| Moat Score (0–100) | 41 (highest) | 41 (highest) | — | 41 (highest) |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | — | moat-index@3.0.0 |
| Business trend | 80 (highest) | 69 | — | 64 |
| Pricing power | — | 100 | — | — |
| Returns on capital | 40 (highest) | 2 | — | 6 |
| Balance-sheet safety | 0 | 1 | — | 52 (highest) |
| Capital allocation | 44 (highest) | 33 | — | 42 |
| No price data | 84% above value if growth stopped today (largest discount to value if growth stopped today) | No price data | 232% above value if growth stopped today | |
| Market cap | Not reported | $12.8B | Not reported | $85.6B |
| Moat tier | Shallow moat | Shallow moat | — | Shallow moat |
| Filing date | FY2025 | FY2025 | — | FY2025 |
Rows show "—" where a company isn't covered or its score couldn't be fetched — we don't fill gaps with guesses.