VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Sunday, December 28, 2025

Stock Comparison

Evolution AB vs Manhattan Associates, 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.

View full moat analysis >

Manhattan Associates, Inc.

MANH · The Nasdaq Stock Market LLC

Market cap (USD)$10.6B
SectorTechnology
CountryUS
Data as of2025-12-28
Moat score
56/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

Side-by-side metrics

Evolution AB
Manhattan Associates, Inc.
Ticker / Exchange
EVO - Nasdaq Stockholm
MANH - The Nasdaq Stock Market LLC
Market cap (USD)
$13.5B
$10.6B
Sector
Consumer
Technology
HQ country
SE
US
Primary segment
Live Casino
Professional services (implementation, consulting, training)
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
56 / 100
Moat domains
Supply, Legal, Demand
Demand
Last update
2025-12-26
2025-12-28

Moat coverage

Shared moat types

Suite Bundling

Evolution AB strengths

Capex Knowhow ScaleCompliance AdvantageIP Choke Point

Manhattan Associates, Inc. strengths

Data Workflow LockinLong Term ContractsReputation ReviewsProcurement InertiaInstalled Base ConsumablesSwitching Costs General

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Manhattan Associates, Inc. segments

Full profile >

Cloud subscriptions (Manhattan Active SaaS)

Oligopoly

32.4%

Professional services (implementation, consulting, training)

Competitive

50.4%

Maintenance and support (legacy perpetual licenses)

Monopoly

13.3%

Perpetual licenses and hardware

Competitive

4%

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.