VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Evolution AB vs NIKE, 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)$106B
Gross margin (TTM)100%
Operating margin (TTM)59.4%
Net margin (TTM)50.1%
SectorConsumer
IndustryGambling, Resorts & Casinos
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

NIKE, Inc.

NKE · New York Stock Exchange

Market cap (USD)$96.6B
Gross margin (TTM)41.1%
Operating margin (TTM)6.5%
Net margin (TTM)5.4%
SectorConsumer
IndustryApparel - Footwear & Accessories
CountryUS
Data as of2025-12-23
Moat score
70/ 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 NIKE, Inc.'s moat claims, evidence, and risks.

View NKE analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 70 / 100 for NIKE, Inc.).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); NIKE, Inc. has 3 segments (57.8% in Wholesale).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; NIKE, Inc. has 6 across 4.

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%

NIKE, Inc.

Wholesale

Market

Branded athletic & casual footwear/apparel wholesale distribution

Geography

Global

Customer

Retailers, distributors, licensees

Role

Brand owner / wholesaler

Revenue share

57.8%

Side-by-side metrics

Evolution AB
NIKE, Inc.
Ticker / Exchange
EVO - Nasdaq Stockholm
NKE - New York Stock Exchange
Market cap (USD)
$106B
$96.6B
Gross margin (TTM)
100%
41.1%
Operating margin (TTM)
59.4%
6.5%
Net margin (TTM)
50.1%
5.4%
Sector
Consumer
Consumer
Industry
Gambling, Resorts & Casinos
Apparel - Footwear & Accessories
HQ country
SE
US
Primary segment
Live Casino
Wholesale
Market structure
Oligopoly
Competitive
Market share
50%-60% (reported)
n/a
HHI estimate
5,050
n/a
Pricing power
Strong
Moderate
Moat score
94 / 100
70 / 100
Moat domains
Supply, Legal, Demand
Demand, Supply, Network, Legal
Last update
2025-12-26
2025-12-23

Moat coverage

Shared moat types

IP Choke Point

Evolution AB strengths

Capex Knowhow ScaleCompliance AdvantageSuite Bundling

NIKE, Inc. strengths

Brand TrustProcurement InertiaScale Economies Unit CostDistribution ControlEcosystem Complements

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

NIKE, Inc. segments

Full profile >

Wholesale

Competitive

57.8%

Direct to Consumer (DTC)

Competitive

42.1%

Brand licensing & other

Competitive

0.2%

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

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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.