VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Evolution AB vs Pro Medicus Limited

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Evolution AB

EVO · Nasdaq Stockholm

Market cap (USD)$127.6B
Gross margin (TTM)100%
Operating margin (TTM)60.8%
Net margin (TTM)52%
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

Pro Medicus Limited

PME · ASX

Market cap (USD)$15.5B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryAU
Data as of
Moat score
80/ 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 Pro Medicus Limited's moat claims, evidence, and risks.

View PME analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 80 / 100 for Pro Medicus Limited).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); Pro Medicus Limited has 2 segments (92.5% in Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)).
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; Pro Medicus Limited has 6 across 2.

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%

Pro Medicus Limited

Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)

Market

Enterprise imaging / PACS and related modules for hospitals and integrated delivery networks (IDNs)

Geography

Primarily North America; also Europe and Australia

Customer

Hospitals, imaging centers, integrated delivery networks (IDNs)

Role

Healthcare IT software vendor / platform provider

Revenue share

92.5%

Side-by-side metrics

Evolution AB
Pro Medicus Limited
Ticker / Exchange
EVO - Nasdaq Stockholm
PME - ASX
Market cap (USD)
$127.6B
$15.5B
Gross margin (TTM)
100%
n/a
Operating margin (TTM)
60.8%
n/a
Net margin (TTM)
52%
n/a
Sector
Consumer
Healthcare
Industry
Gambling, Resorts & Casinos
n/a
HQ country
SE
AU
Primary segment
Live Casino
Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)
Market structure
Oligopoly
Oligopoly
Market share
50%-60% (reported)
55% (implied)
HHI estimate
5,050
n/a
Pricing power
Strong
Strong
Moat score
94 / 100
80 / 100
Moat domains
Supply, Legal, Demand
Demand, Supply
Last update
2025-12-26
2026-01-02

Moat coverage

Shared moat types

Suite Bundling

Evolution AB strengths

Capex Knowhow ScaleCompliance AdvantageIP Choke Point

Pro Medicus Limited strengths

Data Workflow LockinKeystone ComponentOperational ExcellenceSwitching Costs GeneralLong Term Contracts

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Pro Medicus Limited segments

Full profile >

Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)

Oligopoly

92.5%

Visage RIS (Radiology Information System) and Promedicus.net

Oligopoly

7.5%

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.