VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

Evolution AB vs Altria Group, 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

Altria Group, Inc.

MO · New York Stock Exchange

Market cap (USD)
SectorConsumer
CountryUS
Data as of2025-12-30
Moat score
88/ 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 Altria Group, Inc.'s moat claims, evidence, and risks.

View MO analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 88 / 100 for Altria Group, Inc.).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); Altria Group, Inc. has 3 segments (88.3% in Smokeable Products).
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; Altria Group, 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%

Altria Group, Inc.

Smokeable Products

Market

U.S. cigarettes and machine-made cigars

Geography

United States

Customer

Wholesalers/distributors and large retail organizations (serving adult tobacco consumers 21+)

Role

Manufacturer and brand owner

Revenue share

88.3%

Side-by-side metrics

Evolution AB
Altria Group, Inc.
Ticker / Exchange
EVO - Nasdaq Stockholm
MO - New York Stock Exchange
Market cap (USD)
$13.5B
n/a
Sector
Consumer
Consumer
HQ country
SE
US
Primary segment
Live Casino
Smokeable Products
Market structure
Oligopoly
Oligopoly
Market share
50%-60% (reported)
45.9% (reported)
HHI estimate
5,050
n/a
Pricing power
Strong
Strong
Moat score
94 / 100
88 / 100
Moat domains
Supply, Legal, Demand
Demand, Financial, Legal
Last update
2025-12-26
2025-12-30

Moat coverage

Shared moat types

Compliance Advantage

Evolution AB strengths

Capex Knowhow ScaleSuite BundlingIP Choke Point

Altria Group, Inc. strengths

Brand TrustHabit DefaultBenchmark Pricing PowerRegulated Standards Pipe

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Altria Group, Inc. segments

Full profile >

Smokeable Products

Oligopoly

88.3%

Oral Tobacco Products

Oligopoly

11.6%

E-Vapor and New Products (NJOY, Horizon, R&D)

Competitive

0.2%

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.