VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Evolution AB vs Eli Lilly and Company

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Evolution AB

EVO · Nasdaq Stockholm

Market cap (USD)$126.3B
Gross margin (TTM)100%
Operating margin (TTM)60.8%
Net margin (TTM)52%
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

Eli Lilly and Company

LLY · New York Stock Exchange

Market cap (USD)$935.6B
Gross margin (TTM)83%
Operating margin (TTM)43.9%
Net margin (TTM)31%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2026-01-05
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 Eli Lilly and Company's moat claims, evidence, and risks.

View LLY analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 66 / 100 for Eli Lilly and Company).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); Eli Lilly and Company has 5 segments (65.5% in Cardiometabolic Health).
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; Eli Lilly and Company has 5 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%

Eli Lilly and Company

Cardiometabolic Health

Market

Branded cardiometabolic pharmaceuticals (type 2 diabetes, obesity, and related metabolic/cardiovascular conditions; especially incretin therapies)

Geography

Global

Customer

Patients via prescribers; payers/PBMs; wholesaler & pharmacy channels

Role

Drug developer, manufacturer, and marketer

Revenue share

65.5%

Side-by-side metrics

Evolution AB
Eli Lilly and Company
Ticker / Exchange
EVO - Nasdaq Stockholm
LLY - New York Stock Exchange
Market cap (USD)
$126.3B
$935.6B
Gross margin (TTM)
100%
83%
Operating margin (TTM)
60.8%
43.9%
Net margin (TTM)
52%
31%
Sector
Consumer
Healthcare
Industry
Gambling, Resorts & Casinos
Drug Manufacturers - General
HQ country
SE
US
Primary segment
Live Casino
Cardiometabolic Health
Market structure
Oligopoly
Oligopoly
Market share
50%-60% (reported)
n/a
HHI estimate
5,050
n/a
Pricing power
Strong
Strong
Moat score
94 / 100
66 / 100
Moat domains
Supply, Legal, Demand
Legal, Supply
Last update
2025-12-26
2026-01-05

Moat coverage

Shared moat types

Compliance AdvantageIP Choke Point

Evolution AB strengths

Capex Knowhow ScaleSuite Bundling

Eli Lilly and Company strengths

Capacity MoatLearning Curve YieldOperational Excellence

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Eli Lilly and Company segments

Full profile >

Cardiometabolic Health

Oligopoly

65.5%

Oncology

Competitive

19.4%

Immunology

Competitive

9.8%

Neuroscience

Competitive

3.3%

Other

Competitive

2%

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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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.