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 | WELPP | NFG | AWR | ATO |
|---|---|---|---|---|
| Moat Score (0–100) | 48 | 56 (highest) | 54 | 45 |
| Pricing power | 99 (highest) | 96 | 84 | 94 |
| Returns on capital | 27 | 48 (highest) | 48 (highest) | 4 |
| Balance-sheet safety | 16 | 33 (highest) | 19 | 20 |
| Capital discipline | 35 | 32 | 56 | 60 (highest) |
| Margin of safety | No price data | 15% below value (highest margin of safety) | 63% above value | 80% above value |
| Market cap | $2.1B | $7.3B | $3.5B | $28.7B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |