VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Evolution AB vs Monster Beverage 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

Monster Beverage Corporation

MNST · Nasdaq Global Select Market

Market cap (USD)$65.7B
SectorConsumer
CountryUS
Data as of2025-12-31
Moat score
76/ 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 Monster Beverage Corporation's moat claims, evidence, and risks.

View MNST analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 76 / 100 for Monster Beverage Corporation).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); Monster Beverage Corporation has 4 segments (91.6% in Monster Energy Drinks).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; Monster Beverage 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%

Monster Beverage Corporation

Monster Energy Drinks

Market

Energy drinks

Geography

Global

Customer

Retail consumers (via bottlers/distributors and retailers); some direct-to-retail

Role

Brand owner, marketer, and RTD finished-goods seller

Revenue share

91.6%

Side-by-side metrics

Evolution AB
Monster Beverage Corporation
Ticker / Exchange
EVO - Nasdaq Stockholm
MNST - Nasdaq Global Select Market
Market cap (USD)
$13.5B
$65.7B
Sector
Consumer
Consumer
HQ country
SE
US
Primary segment
Live Casino
Monster Energy Drinks
Market structure
Oligopoly
Oligopoly
Market share
50%-60% (reported)
33%-35% (reported)
HHI estimate
5,050
n/a
Pricing power
Strong
Moderate
Moat score
94 / 100
76 / 100
Moat domains
Supply, Legal, Demand
Supply, Demand, Legal
Last update
2025-12-26
2025-12-31

Moat coverage

Shared moat types

No overlap yet.

Evolution AB strengths

Capex Knowhow ScaleCompliance AdvantageSuite BundlingIP Choke Point

Monster Beverage Corporation strengths

Distribution ControlBrand TrustPreferential Input AccessContractual ExclusivitySpecialty flavor formulations (AFF)

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Monster Beverage Corporation segments

Full profile >

Monster Energy Drinks

Oligopoly

91.6%

Strategic Brands

Oligopoly

5.8%

Alcohol Brands

Competitive

2.3%

Other (AFF Third-Party Products)

Competitive

0.3%

Want the full wide moat stocks list?

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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.