VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Amazon.com, Inc. vs Evolution AB

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

Amazon.com, Inc.

AMZN · NASDAQ

Market cap (USD)$2.3T
Gross margin (TTM)50.3%
Operating margin (TTM)11.2%
Net margin (TTM)10.8%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2025-12-29
Moat score
87/ 100

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

Full stock profile

Dive deeper into Amazon.com, Inc.'s moat claims, evidence, and risks.

View AMZN analysis

Evolution AB

EVO · Nasdaq Stockholm

Market cap (USD)$106B
Gross margin (TTM)100%
Operating margin (TTM)59.4%
Net margin (TTM)50.1%
SectorConsumer
IndustryGambling, Resorts & Casinos
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.

Full stock profile

Dive deeper into Evolution AB's moat claims, evidence, and risks.

View EVO analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 87 / 100 for Amazon.com, Inc.).
  • Segment focus: Amazon.com, Inc. has 4 segments (73.5% in Amazon Stores (Retail, Marketplace, Prime Subscriptions)); Evolution AB has 2 segments (86.1% in Live Casino).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Amazon.com, Inc. has 10 moat types across 4 domains; Evolution AB has 4 across 3.

Primary market context

Amazon.com, Inc.

Amazon Stores (Retail, Marketplace, Prime Subscriptions)

Market

US retail ecommerce marketplace and online retail (integrated fulfillment + membership shipping)

Geography

United States

Customer

Consumers and third-party merchants

Role

Marketplace operator, retailer, and fulfillment provider

Revenue share

73.5%

Evolution AB

Live Casino

Market

B2B supply of online live casino games (live dealer & game shows)

Geography

Regulated jurisdictions (global; UK data point for concentration)

Customer

Online gambling operators (B2C)

Role

B2B content & platform supplier

Revenue share

86.1%

Side-by-side metrics

Amazon.com, Inc.
Evolution AB
Ticker / Exchange
AMZN - NASDAQ
EVO - Nasdaq Stockholm
Market cap (USD)
$2.3T
$106B
Gross margin (TTM)
50.3%
100%
Operating margin (TTM)
11.2%
59.4%
Net margin (TTM)
10.8%
50.1%
Sector
Consumer
Consumer
Industry
Specialty Retail
Gambling, Resorts & Casinos
HQ country
US
SE
Primary segment
Amazon Stores (Retail, Marketplace, Prime Subscriptions)
Live Casino
Market structure
Oligopoly
Oligopoly
Market share
39%-42% (estimated)
50%-60% (reported)
HHI estimate
n/a
5,050
Pricing power
Moderate
Strong
Moat score
87 / 100
94 / 100
Moat domains
Supply, Demand, Network, Financial
Supply, Legal, Demand
Last update
2025-12-29
2025-12-26

Moat coverage

Shared moat types

Capex Knowhow ScaleSuite Bundling

Amazon.com, Inc. strengths

Scope EconomiesLong Term ContractsTwo Sided NetworkPhysical Network DensityHabit DefaultNegative Working CapitalDistribution ControlData Network Effects

Evolution AB strengths

Compliance AdvantageIP Choke Point

Segment mix

Amazon.com, Inc. segments

Full profile >

Amazon Web Services (AWS)

Oligopoly

16.9%

Amazon Stores (Retail, Marketplace, Prime Subscriptions)

Oligopoly

73.5%

Advertising Services (Amazon Ads / Retail Media)

Oligopoly

8.8%

Other (healthcare, content licensing/distribution, shipping services, co-branded credit card agreements, etc.)

Competitive

0.9%

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.