AY

Competitive advantage analysis · utilities

Regulated Utilities
Overall moat score
—
Insufficient data

Ranked against 127 peers in Utilities

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

Upgrade to unlock the signals and evidence behind each defense.

Premium access

Unlock full defense analysis

Get key signals, strengths, and risks for every moat dimension.

Upgrade to Premium Unlock all moat defenses and evidence.

Regulatory Franchise

Insufficient Data
—
Premium

Signals, strengths and risks for Regulatory Franchise

Premium

Signals, strengths and risks for Rate-Base Return Quality

Premium

Signals, strengths and risks for Dividend Sustainability

Premium

Signals, strengths and risks for Capital Structure Discipline

Premium

Signals, strengths and risks for Operational Efficiency

Premium

Signals, strengths and risks for Essential Service Resilience

Where AY ranks in Utilities

ranks #114 of 117 scored companies in Utilities by moat score — the top 97%. The widest moat in the group is Ormat Technologies, Inc. (ORA) at 81/100.

# Company Moat score Rating
109 Eco Wave Power Global AB (publ) WAVE 18/100 Weak
110 Cadiz, Inc. CDZI 15/100 Weak
111 Oklo Inc. OKLO 2/100 Weak
112 New Fortress Energy Inc. NFE 1/100 Weak
113 Altus Power, Inc. AMPS 0/100 Weak
114 AY AY 0/100 Weak
115 Centrais Electricas Brasileiras EBR 0/100 Weak
116 NextEra Energy Partners, LP NEP 0/100 Weak
117 SJW Group SJW 0/100 Weak

See every Regulated Utilities company ranked by moat score →

How AY scores on the Regulated Utilities defenses

Regulatory Franchise

Not measurable · 25% of the moat score

The franchise is the moat, granted rather than earned: an exclusive right to serve a territory in exchange for regulated prices and an obligation to supply.

Rate-Base Return Quality

Not measurable · 20% of the moat score

A utility earns an allowed return on the capital invested in its network, the rate base.

Dividend Sustainability

Not measurable · 18% of the moat score

Utilities are owned largely for income, and the dividend is only as safe as the operating cash flow behind it.

Capital Structure Discipline

Not measurable · 17% of the moat score

Regulated utilities carry more debt than almost any other sector, which suits how predictable their revenue is but makes credit quality a core competitive asset.

Operational Efficiency

Not measurable · 12% of the moat score

Efficiency is unusually consequential under regulation.

Essential Service Resilience

Not measurable · 8% of the moat score

Electricity, gas and water are bought in a recession at close to the volume bought in an expansion, which is why utility revenue barely tracks the economic cycle.

How each Regulated Utilities defense is measured, in full →

Understanding AY's moat

What is AY's moat score?

AY (AY) scores 0 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as weak. It ranks #114 of 117 scored companies in Utilities, the top 97%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 127 companies in Utilities.

How does AY compare with other Utilities companies?

AY ranks #114 of 117 scored companies in Utilities by moat score. The widest moat in Utilities is Ormat Technologies, Inc. (ORA) at 80/100. The companies ranked closest are Altus Power, Inc. (AMPS) at 0 just above it and Centrais Electricas Brasileiras (EBR) at 0 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Regulated Utilities in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 127 companies in Utilities. The defenses are then weighted to produce the overall score out of 100.

Why is AY scored with the Regulated Utilities template?

A regulated utility is a legal monopoly whose prices are set by a regulator rather than by a market. It cannot raise prices at will and it cannot be undercut, so most of the usual questions about competitive advantage barely apply. What matters is the quality of the regulatory bargain: whether the company earns the return it is allowed, funds its capital programme cheaply, and sustains the dividend investors own it for.

Which competitive defenses are measured for AY?

The Regulated Utilities template measures 6 defenses, and AY scores: Regulatory Franchise (not measurable), Rate-Base Return Quality (not measurable), Dividend Sustainability (not measurable), Capital Structure Discipline (not measurable), Operational Efficiency (not measurable), Essential Service Resilience (not measurable). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

Send Feedback
Please select a category.
0/1000