VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Sunday, December 28, 2025

Stock Comparison

Evolution AB vs Thales S.A.

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.

View full moat analysis >

Thales S.A.

HO · Euronext Paris

Market cap (USD)$55.3B
SectorIndustrials
CountryFR
Data as of2025-12-28
Moat score
73/ 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
Thales S.A.
Ticker / Exchange
EVO - Nasdaq Stockholm
HO - Euronext Paris
Market cap (USD)
$13.5B
$55.3B
Sector
Consumer
Industrials
HQ country
SE
FR
Primary segment
Live Casino
Defence
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
73 / 100
Moat domains
Supply, Legal, Demand
Legal, Demand, Supply
Last update
2025-12-26
2025-12-28

Moat coverage

Shared moat types

Capex Knowhow ScaleSuite Bundling

Evolution AB strengths

Compliance AdvantageIP Choke Point

Thales S.A. strengths

Government Contracting RelationshipsLong Term ContractsDesign In QualificationRegulated Standards PipeService Field NetworkBrand Trust

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Thales S.A. segments

Full profile >

Defence

Oligopoly

53.3%

Aerospace

Oligopoly

26.6%

Cyber & Digital

Competitive

19.6%

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 Pricing, features, and availability may be incomplete or out of date.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.