VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Evolution AB vs Hormel Foods 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)$13.4B
Gross margin (TTM)100%
Operating margin (TTM)59.1%
Net margin (TTM)50.2%
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

Hormel Foods Corporation

HRL · New York Stock Exchange

Market cap (USD)$12B
Gross margin (TTM)15.5%
Operating margin (TTM)6%
Net margin (TTM)4%
SectorConsumer
IndustryPackaged Foods
CountryUS
Data as of2026-01-11
Moat score
58/ 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 Hormel Foods Corporation's moat claims, evidence, and risks.

View HRL analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 58 / 100 for Hormel Foods Corporation).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); Hormel Foods Corporation has 3 segments (61.6% in Retail).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; Hormel Foods Corporation has 4 across 2.

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%

Hormel Foods Corporation

Retail

Market

U.S. branded packaged foods sold through retail channels (grocery, mass, club, natural, drug, dollar/discount, e-commerce)

Geography

United States

Customer

Retailers and e-commerce platforms (sell-through to consumers)

Role

Branded manufacturer / marketer

Revenue share

61.6%

Side-by-side metrics

Evolution AB
Hormel Foods Corporation
Ticker / Exchange
EVO - Nasdaq Stockholm
HRL - New York Stock Exchange
Market cap (USD)
$13.4B
$12B
Gross margin (TTM)
100%
15.5%
Operating margin (TTM)
59.1%
6%
Net margin (TTM)
50.2%
4%
Sector
Consumer
Consumer
Industry
Gambling, Resorts & Casinos
Packaged Foods
HQ country
SE
US
Primary segment
Live Casino
Retail
Market structure
Oligopoly
Competitive
Market share
50%-60% (reported)
n/a
HHI estimate
5,050
n/a
Pricing power
Strong
Moderate
Moat score
94 / 100
58 / 100
Moat domains
Supply, Legal, Demand
Demand, Supply
Last update
2025-12-26
2026-01-11

Moat coverage

Shared moat types

No overlap yet.

Evolution AB strengths

Capex Knowhow ScaleCompliance AdvantageSuite BundlingIP Choke Point

Hormel Foods Corporation strengths

Brand TrustDistribution ControlScope EconomiesService Field Network

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Hormel Foods Corporation segments

Full profile >

Retail

Competitive

61.6%

Foodservice

Competitive

32.6%

International

Competitive

5.9%

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

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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.