VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Sunday, December 28, 2025

Stock Comparison

Tencent Holdings Limited vs Evolution AB

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Tencent Holdings Limited

0700.HK · Hong Kong Stock Exchange

Market cap (USD)$705.6B
SectorCommunication Services
CountryCN
Data as of2025-12-28
Moat score
73/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

Evolution AB

EVO · Nasdaq Stockholm

Market cap (USD)$13.5B
SectorConsumer
CountrySE
Data as of2025-12-26
Moat score
94/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

Side-by-side metrics

Tencent Holdings Limited
Evolution AB
Ticker / Exchange
0700.HK - Hong Kong Stock Exchange
EVO - Nasdaq Stockholm
Market cap (USD)
$705.6B
$13.5B
Sector
Communication Services
Consumer
HQ country
CN
SE
Primary segment
Value-Added Services (VAS)
Live Casino
Market structure
Oligopoly
Oligopoly
Market share
n/a
50%-60% (reported)
HHI estimate
n/a
5,050
Pricing power
Moderate
Strong
Moat score
73 / 100
94 / 100
Moat domains
Network, Supply
Supply, Legal, Demand
Last update
2025-12-28
2025-12-26

Moat coverage

Shared moat types

Capex Knowhow Scale

Tencent Holdings Limited strengths

Direct Network EffectsEcosystem ComplementsDistribution ControlTwo Sided NetworkData Network Effects

Evolution AB strengths

Compliance AdvantageSuite BundlingIP Choke Point

Segment mix

Tencent Holdings Limited segments

Full profile >

Value-Added Services (VAS)

Oligopoly

48.3%

Marketing Services

Oligopoly

18.4%

FinTech and Business Services

Oligopoly

32.1%

Others

Competitive

1.2%

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.