VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 1, 2026

Stock Comparison

Evolution AB vs Illinois Tool Works 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

Illinois Tool Works Inc.

ITW · New York Stock Exchange

Market cap (USD)
SectorIndustrials
CountryUS
Data as of2025-12-31
Moat score
66/ 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 Illinois Tool Works Inc.'s moat claims, evidence, and risks.

View ITW analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 66 / 100 for Illinois Tool Works Inc.).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); Illinois Tool Works Inc. has 7 segments (20% in Automotive OEM).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; Illinois Tool Works 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%

Illinois Tool Works Inc.

Automotive OEM

Market

Automotive OEM engineered components and fasteners

Geography

Global

Customer

Automotive OEMs and Tier suppliers

Role

Component supplier

Revenue share

20%

Side-by-side metrics

Evolution AB
Illinois Tool Works Inc.
Ticker / Exchange
EVO - Nasdaq Stockholm
ITW - New York Stock Exchange
Market cap (USD)
$13.5B
n/a
Sector
Consumer
Industrials
HQ country
SE
US
Primary segment
Live Casino
Automotive OEM
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
66 / 100
Moat domains
Supply, Legal, Demand
Demand, Supply, Legal
Last update
2025-12-26
2025-12-31

Moat coverage

Shared moat types

IP Choke Point

Evolution AB strengths

Capex Knowhow ScaleCompliance AdvantageSuite Bundling

Illinois Tool Works Inc. strengths

Design In QualificationOperational ExcellenceBrand TrustService Field NetworkInstalled Base ConsumablesSwitching Costs GeneralFormulation and application engineering know-how

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Illinois Tool Works Inc. segments

Full profile >

Automotive OEM

Competitive

20%

Food Equipment

Oligopoly

16.6%

Test & Measurement and Electronics

Oligopoly

17.7%

Welding

Oligopoly

11.6%

Polymers & Fluids

Competitive

11.1%

Construction Products

Competitive

12%

Specialty Products

Oligopoly

10.9%

Want the full wide moat stocks list?

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

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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.