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.
MDU · 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%.
CDZI · Utilities · No moat
Doesn't clear the bar
The businessTrend component abstained: Only one aligned fiscal year of revenue and diluted EPS is available; a trend needs at least two observations. The other four 20% weights were renormalized over the scored 80%.
HE · 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 | PESI | MDU | CDZI | HE |
|---|---|---|---|---|
| Moat Score (0–100) | 16 | 17 (highest) | 16 | 15 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 27 | 25 | — | 45 (highest) |
| Pricing power | 2 | — | 14 (highest) | — |
| Returns on capital | 0 | 5 (highest) | 0 | 5 (highest) |
| Balance-sheet safety | 28 (highest) | 2 | 28 (highest) | 9 |
| Capital allocation | 24 | 35 (highest) | 24 | 0 |
| No price data | 7% below value if growth stopped today | No price data | 35% below value if growth stopped today (largest discount to value if growth stopped today) | |
| Market cap | $237M | $3.8B | $268M | $1.5B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |