VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 1, 2026

Stock Comparison

Evolution AB vs HCA Healthcare, Inc.

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

HCA Healthcare, Inc.

HCA · New York Stock Exchange

Market cap (USD)$106.5B
SectorHealthcare
CountryUS
Data as of2026-01-01
Moat score
67/ 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 HCA Healthcare, Inc.'s moat claims, evidence, and risks.

View HCA analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 67 / 100 for HCA Healthcare, Inc.).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); HCA Healthcare, Inc. has 1 segment (100% in Hospitals and related healthcare entities).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; HCA Healthcare, Inc. has 4 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%

HCA Healthcare, Inc.

Hospitals and related healthcare entities

Market

Acute care hospitals and outpatient healthcare services

Geography

United States (multi-state) and England (United Kingdom)

Customer

Patients and third-party payers

Role

Provider operator

Revenue share

100%

Side-by-side metrics

Evolution AB
HCA Healthcare, Inc.
Ticker / Exchange
EVO - Nasdaq Stockholm
HCA - New York Stock Exchange
Market cap (USD)
$13.5B
$106.5B
Sector
Consumer
Healthcare
HQ country
SE
US
Primary segment
Live Casino
Hospitals and related healthcare entities
Market structure
Oligopoly
Oligopoly
Market share
50%-60% (reported)
n/a
HHI estimate
5,050
n/a
Pricing power
Strong
Moderate
Moat score
94 / 100
67 / 100
Moat domains
Supply, Legal, Demand
Legal, Supply, Demand
Last update
2025-12-26
2026-01-01

Moat coverage

Shared moat types

No overlap yet.

Evolution AB strengths

Capex Knowhow ScaleCompliance AdvantageSuite BundlingIP Choke Point

HCA Healthcare, Inc. strengths

Permits Rights Of WayScope EconomiesPhysical Network DensitySwitching Costs General

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

HCA Healthcare, Inc. segments

Full profile >

Hospitals and related healthcare entities

Oligopoly

100%

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.