The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same four filters from their SEC filings — so the comparison is apples to apples. The method is fully public.
| Measure | WCN | ATO | CWEN | PCYO |
|---|---|---|---|---|
| Moat Score (0–100) | 44 | 45 (highest) | 45 (highest) | 44 |
| Pricing power | 71 | 94 (highest) | 70 | 51 |
| Returns on capital | 6 | 4 | 25 (highest) | 4 |
| Balance-sheet safety | 22 | 20 | 28 | 95 (highest) |
| Capital discipline | 85 (highest) | 60 | 52 | 41 |
| Margin of safety | 193% above value | 80% above value | 12% below value (highest margin of safety) | 100% above value |
| Market cap | $43.9B | $28.7B | $6.8B | $257.5M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |