VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Evolution AB vs ResMed 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)$126.3B
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

ResMed Inc.

RMD · New York Stock Exchange

Market cap (USD)$36B
Gross margin (TTM)60.1%
Operating margin (TTM)33.2%
Net margin (TTM)27.4%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryUS
Data as of2026-01-04
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 ResMed Inc.'s moat claims, evidence, and risks.

View RMD analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 76 / 100 for ResMed Inc.).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); ResMed Inc. has 2 segments (87.5% in Sleep and Breathing Health).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; ResMed Inc. has 7 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%

ResMed Inc.

Sleep and Breathing Health

Market

Sleep apnea and respiratory care devices and related consumables (PAP, masks, ventilation) plus connected monitoring services

Geography

Global

Customer

DME/HME providers, sleep clinics, hospitals, patients

Role

Medical device OEM + connected care software/data services

Revenue share

87.5%

Side-by-side metrics

Evolution AB
ResMed Inc.
Ticker / Exchange
EVO - Nasdaq Stockholm
RMD - New York Stock Exchange
Market cap (USD)
$126.3B
$36B
Gross margin (TTM)
100%
60.1%
Operating margin (TTM)
60.8%
33.2%
Net margin (TTM)
52%
27.4%
Sector
Consumer
Healthcare
Industry
Gambling, Resorts & Casinos
Medical - Instruments & Supplies
HQ country
SE
US
Primary segment
Live Casino
Sleep and Breathing Health
Market structure
Oligopoly
Oligopoly
Market share
50%-60% (reported)
58%-66% (estimated)
HHI estimate
5,050
n/a
Pricing power
Strong
Moderate
Moat score
94 / 100
76 / 100
Moat domains
Supply, Legal, Demand
Demand, Legal
Last update
2025-12-26
2026-01-04

Moat coverage

Shared moat types

Compliance AdvantageIP Choke Point

Evolution AB strengths

Capex Knowhow ScaleSuite Bundling

ResMed Inc. strengths

Installed Base ConsumablesData Workflow LockinBrand TrustLong Term ContractsTraining Org Change Costs

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

ResMed Inc. segments

Full profile >

Sleep and Breathing Health

Oligopoly

87.5%

Residential Care Software

Competitive

12.5%

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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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.