VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

Evolution AB vs General Dynamics Corporation

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

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.

Full stock profile

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

View EVO analysis

General Dynamics Corporation

GD · New York Stock Exchange

Market cap (USD)$92.4B
SectorIndustrials
CountryUS
Data as of2025-12-29
Moat score
80/ 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 General Dynamics Corporation's moat claims, evidence, and risks.

View GD analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 80 / 100 for General Dynamics Corporation).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); General Dynamics Corporation has 4 segments (30.1% in Marine Systems (Nuclear subs + surface shipbuilding)).
  • Primary market structure: Oligopoly vs Duopoly. Pricing power: Strong vs Weak.
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; General Dynamics Corporation has 11 across 3.

Primary market context

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%

General Dynamics Corporation

Marine Systems (Nuclear subs + surface shipbuilding)

Market

U.S. Navy nuclear-powered submarine construction and major surface combatant shipbuilding/lifecycle services

Geography

United States

Customer

Government (primarily U.S. Navy)

Role

Prime contractor / shipbuilder / lifecycle services

Revenue share

30.1%

Side-by-side metrics

Evolution AB
General Dynamics Corporation
Ticker / Exchange
EVO - Nasdaq Stockholm
GD - New York Stock Exchange
Market cap (USD)
$13.5B
$92.4B
Sector
Consumer
Industrials
HQ country
SE
US
Primary segment
Live Casino
Marine Systems (Nuclear subs + surface shipbuilding)
Market structure
Oligopoly
Duopoly
Market share
50%-60% (reported)
45%-55% (estimated)
HHI estimate
5,050
5,000
Pricing power
Strong
Weak
Moat score
94 / 100
80 / 100
Moat domains
Supply, Legal, Demand
Demand, Supply, Legal
Last update
2025-12-26
2025-12-29

Moat coverage

Shared moat types

Capex Knowhow ScaleCompliance AdvantageSuite Bundling

Evolution AB strengths

IP Choke Point

General Dynamics Corporation strengths

Brand TrustService Field NetworkRegulated Standards PipeLong Term ContractsGovernment Contracting RelationshipsDesign In QualificationProcurement InertiaCapacity Moat

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

General Dynamics Corporation segments

Full profile >

Aerospace (Gulfstream + Jet Aviation)

Oligopoly

23.6%

Marine Systems (Nuclear subs + surface shipbuilding)

Duopoly

30.1%

Combat Systems (Land vehicles + munitions)

Oligopoly

18.9%

Technologies (C5ISR + Federal IT)

Competitive

27.5%

Want the full wide moat stocks list?

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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.