VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

VINCI SA vs Evolution AB

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

VINCI SA

DG · Euronext Paris

Market cap (USD)$67.5B
Gross margin (TTM)16%
Operating margin (TTM)12.1%
Net margin (TTM)6.5%
SectorIndustrials
IndustryEngineering & Construction
CountryFR
Data as of2026-01-03
Moat score
57/ 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 VINCI SA's moat claims, evidence, and risks.

View DG analysis

Evolution AB

EVO · Nasdaq Stockholm

Market cap (USD)$126.3B
Gross margin (TTM)100%
Operating margin (TTM)60.8%
Net margin (TTM)52%
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 57 / 100 for VINCI SA).
  • Segment focus: VINCI SA has 7 segments (44.4% in VINCI Construction); Evolution AB has 2 segments (86.1% in Live Casino).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Strong.
  • Moat breadth: VINCI SA has 7 moat types across 2 domains; Evolution AB has 4 across 3.

Primary market context

VINCI SA

VINCI Construction

Market

Construction and civil engineering contracting (buildings, infrastructure and specialty networks)

Geography

Global

Customer

Public-sector project owners and private developers/industrial clients

Role

General contractor / civil engineering contractor

Revenue share

44.4%

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

VINCI SA
Evolution AB
Ticker / Exchange
DG - Euronext Paris
EVO - Nasdaq Stockholm
Market cap (USD)
$67.5B
$126.3B
Gross margin (TTM)
16%
100%
Operating margin (TTM)
12.1%
60.8%
Net margin (TTM)
6.5%
52%
Sector
Industrials
Consumer
Industry
Engineering & Construction
Gambling, Resorts & Casinos
HQ country
FR
SE
Primary segment
VINCI Construction
Live Casino
Market structure
Competitive
Oligopoly
Market share
n/a
50%-60% (reported)
HHI estimate
n/a
5,050
Pricing power
Weak
Strong
Moat score
57 / 100
94 / 100
Moat domains
Legal, Supply
Supply, Legal, Demand
Last update
2026-01-03
2025-12-26

Moat coverage

Shared moat types

Capex Knowhow ScaleCompliance Advantage

VINCI SA strengths

Concession LicensePermits Rights Of WayOperational ExcellenceService Field NetworkCapacity Moat

Evolution AB strengths

Suite BundlingIP Choke Point

Segment mix

VINCI SA segments

Full profile >

VINCI Autoroutes

Monopoly

9.2%

VINCI Airports

Oligopoly

6.3%

Other concessions (incl. VINCI Highways and PPP assets)

Competitive

0.8%

VINCI Energies

Competitive

28.4%

Cobra IS

Competitive

9.9%

VINCI Construction

Competitive

44.4%

VINCI Immobilier

Competitive

1.6%

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

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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.