VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Evolution AB vs Marsh & McLennan Companies, 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

Marsh & McLennan Companies, Inc.

MMC · New York Stock Exchange

Market cap (USD)
SectorFinancials
CountryUS
Data as of2025-12-31
Moat score
65/ 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 Marsh & McLennan Companies, Inc.'s moat claims, evidence, and risks.

View MMC analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 65 / 100 for Marsh & McLennan Companies, Inc.).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); Marsh & McLennan Companies, Inc. has 2 segments (62.8% in Risk and Insurance Services).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; Marsh & McLennan Companies, Inc. 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%

Marsh & McLennan Companies, Inc.

Risk and Insurance Services

Market

Insurance brokerage, risk advisory, and reinsurance brokerage/services

Geography

Global

Customer

Enterprises, public entities, associations, and individuals (via broker/agent channels)

Role

Intermediary + advisor (insurance/reinsurance market intermediary)

Revenue share

62.8%

Side-by-side metrics

Evolution AB
Marsh & McLennan Companies, Inc.
Ticker / Exchange
EVO - Nasdaq Stockholm
MMC - New York Stock Exchange
Market cap (USD)
$13.5B
n/a
Sector
Consumer
Financials
HQ country
SE
US
Primary segment
Live Casino
Risk and Insurance Services
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
65 / 100
Moat domains
Supply, Legal, Demand
Supply, Demand, Legal
Last update
2025-12-26
2025-12-31

Moat coverage

Shared moat types

Compliance Advantage

Evolution AB strengths

Capex Knowhow ScaleSuite BundlingIP Choke Point

Marsh & McLennan Companies, Inc. strengths

Service Field NetworkBrand TrustSwitching Costs GeneralData Workflow Lockin

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Marsh & McLennan Companies, Inc. segments

Full profile >

Risk and Insurance Services

Oligopoly

62.8%

Consulting

Competitive

37.2%

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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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.