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.
TLN · 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%.
CMS · 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 | TLN | CMS | AWX | SPRU |
|---|---|---|---|---|
| Moat Score (0–100) | 24 (highest) | 24 (highest) | 24 (highest) | 23 |
| 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 | 48 | 50 | 63 (highest) |
| Pricing power | — | — | 30 (highest) | 28 |
| Returns on capital | 0 | 1 (highest) | 0 | 0 |
| Balance-sheet safety | 0 (highest) | 0 (highest) | 0 (highest) | 0 (highest) |
| Capital allocation | 44 | 45 (highest) | 39 | 24 |
| No price data | 105% above value if growth stopped today | No price data | No price data | |
| Market cap | $16.4B | $22.9B | Not reported | $39.4M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |