VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

Evolution AB vs Lockheed Martin 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)$13.5B
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

Lockheed Martin Corporation

LMT · New York Stock Exchange

Market cap (USD)$111.8B
SectorIndustrials
CountryUS
Data as of2025-12-29
Moat score
81/ 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 Lockheed Martin Corporation's moat claims, evidence, and risks.

View LMT analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 81 / 100 for Lockheed Martin Corporation).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); Lockheed Martin Corporation has 4 segments (40.3% in Aeronautics).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; Lockheed Martin Corporation has 5 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%

Lockheed Martin Corporation

Aeronautics

Market

Military fixed-wing aircraft (fighters and air mobility) plus sustainment and upgrades

Geography

Global (primarily U.S. and allied governments)

Customer

Defense ministries and armed services (direct and via foreign military sales)

Role

Prime contractor / OEM / systems integrator

Revenue share

40.3%

Side-by-side metrics

Evolution AB
Lockheed Martin Corporation
Ticker / Exchange
EVO - Nasdaq Stockholm
LMT - New York Stock Exchange
Market cap (USD)
$13.5B
$111.8B
Sector
Consumer
Industrials
HQ country
SE
US
Primary segment
Live Casino
Aeronautics
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
81 / 100
Moat domains
Supply, Legal, Demand
Demand, Supply, Legal
Last update
2025-12-26
2025-12-29

Moat coverage

Shared moat types

Compliance Advantage

Evolution AB strengths

Capex Knowhow ScaleSuite BundlingIP Choke Point

Lockheed Martin Corporation strengths

Design In QualificationService Field NetworkGovernment Contracting RelationshipsCapacity Moat

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Lockheed Martin Corporation segments

Full profile >

Aeronautics

Oligopoly

40.3%

Missiles and Fire Control

Oligopoly

17.9%

Rotary and Mission Systems

Oligopoly

24.3%

Space

Oligopoly

17.6%

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.