VOL. XCIV, NO. 247

* MOAT STOCKS COMPARISON *

NO ADVICE

Friday, December 26, 2025

Stock Comparison

Evolution AB (publ) vs Alphabet Inc.

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

Evolution AB (publ)

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 >

Alphabet Inc.

GOOGL · The Nasdaq Stock Market

Market cap (USD)$3.7T
SectorCommunication Services
CountryUS
Data as of2025-12-21
Moat score
86/ 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

Evolution AB (publ)
Alphabet Inc.
Ticker / Exchange
EVO - Nasdaq Stockholm
GOOGL - The Nasdaq Stock Market
Market cap (USD)
$13.5B
$3.7T
Sector
Consumer
Communication Services
HQ country
SE
US
Primary segment
Live Casino
Google Search & other (Advertising)
Market structure
Oligopoly
Quasi-Monopoly
Market share
50%-60% (reported)
88%-91% (reported)
HHI estimate
5,050
8,115
Pricing power
Strong
Strong
Moat score
94 / 100
86 / 100
Moat domains
Supply, Legal, Demand
Network, Demand, Legal, Supply
Last update
2025-12-26
2025-12-21

Moat coverage

Shared moat types

Capex Knowhow Scale

Evolution AB (publ) strengths

Compliance AdvantageSuite BundlingIP Choke Point

Alphabet Inc. strengths

Data Network EffectsHabit DefaultTwo Sided NetworkContent Rights CurrencyOperational ExcellenceDefault OS GatewaySwitching Costs GeneralEcosystem ComplementsIncubation & patient capital

Segment mix

Evolution AB (publ) segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Alphabet Inc. segments

Full profile >

Google Search & other (Advertising)

Quasi-Monopoly

56.6%

YouTube (Advertising)

Oligopoly

10.3%

Google Network (Advertising)

Competitive

8.7%

Google Subscriptions, Platforms & Devices

Quasi-Monopoly

11.5%

Google Cloud

Oligopoly

12.4%

Other Bets

Competitive

0.5%

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.