VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

Evolution AB vs International Flavors & Fragrances 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

International Flavors & Fragrances Inc.

IFF · New York Stock Exchange

Market cap (USD)$17.4B
SectorMaterials
CountryUS
Data as of2025-12-29
Moat score
59/ 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 International Flavors & Fragrances Inc.'s moat claims, evidence, and risks.

View IFF analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 59 / 100 for International Flavors & Fragrances Inc.).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); International Flavors & Fragrances Inc. has 4 segments (31.2% in Food Ingredients).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Weak.
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; International Flavors & Fragrances Inc. has 8 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%

International Flavors & Fragrances Inc.

Food Ingredients

Market

Specialty food ingredients (texturizers, food protection, plant proteins, emulsifiers, sweeteners)

Geography

Global

Customer

B2B (food manufacturers)

Role

Ingredient supplier

Revenue share

31.2%

Side-by-side metrics

Evolution AB
International Flavors & Fragrances Inc.
Ticker / Exchange
EVO - Nasdaq Stockholm
IFF - New York Stock Exchange
Market cap (USD)
$13.5B
$17.4B
Sector
Consumer
Materials
HQ country
SE
US
Primary segment
Live Casino
Food Ingredients
Market structure
Oligopoly
Competitive
Market share
50%-60% (reported)
n/a
HHI estimate
5,050
n/a
Pricing power
Strong
Weak
Moat score
94 / 100
59 / 100
Moat domains
Supply, Legal, Demand
Demand, Legal, Supply
Last update
2025-12-26
2025-12-29

Moat coverage

Shared moat types

Capex Knowhow ScaleCompliance AdvantageIP Choke Point

Evolution AB strengths

Suite Bundling

International Flavors & Fragrances Inc. strengths

Design In QualificationService Field NetworkSupply Chain ControlSwitching Costs GeneralScale Economies Unit Cost

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

International Flavors & Fragrances Inc. segments

Full profile >

Taste

Oligopoly

23.9%

Food Ingredients

Competitive

31.2%

Health & Biosciences

Oligopoly

21.4%

Scent

Oligopoly

23.6%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.