VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Evolution AB vs Stevanato Group S.p.A.

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

Stevanato Group S.p.A.

STVN · New York Stock Exchange

Market cap (USD)$5.7B
Gross margin (TTM)28.6%
Operating margin (TTM)16.7%
Net margin (TTM)12%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryIT
Data as of2026-01-05
Moat score
59/ 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 Stevanato Group S.p.A.'s moat claims, evidence, and risks.

View STVN analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 59 / 100 for Stevanato Group S.p.A.).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); Stevanato Group S.p.A. has 3 segments (46.3% in Other Containment and Delivery Solutions).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Weak.
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; Stevanato Group S.p.A. has 8 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%

Stevanato Group S.p.A.

Other Containment and Delivery Solutions

Market

Standard primary packaging and related services for injectable drugs and diagnostics

Geography

Global

Customer

Pharmaceutical, biotechnology, diagnostics and life sciences companies; fill-finish CMOs

Role

Primary packaging/component manufacturer and contract manufacturing partner

Revenue share

46.3%

Side-by-side metrics

Evolution AB
Stevanato Group S.p.A.
Ticker / Exchange
EVO - Nasdaq Stockholm
STVN - New York Stock Exchange
Market cap (USD)
$126.3B
$5.7B
Gross margin (TTM)
100%
28.6%
Operating margin (TTM)
60.8%
16.7%
Net margin (TTM)
52%
12%
Sector
Consumer
Healthcare
Industry
Gambling, Resorts & Casinos
Medical - Instruments & Supplies
HQ country
SE
IT
Primary segment
Live Casino
Other Containment and Delivery Solutions
Market structure
Oligopoly
Competitive
Market share
50%-60% (reported)
n/a
HHI estimate
5,050
n/a
Pricing power
Strong
Weak
Moat score
94 / 100
59 / 100
Moat domains
Supply, Legal, Demand
Demand, Supply, Network
Last update
2025-12-26
2026-01-05

Moat coverage

Shared moat types

Capex Knowhow Scale

Evolution AB strengths

Compliance AdvantageSuite BundlingIP Choke Point

Stevanato Group S.p.A. strengths

Design In QualificationDe Facto StandardBrand TrustLong Term ContractsOperational ExcellenceService Field NetworkScope Economies

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Stevanato Group S.p.A. segments

Full profile >

High-Value Solutions

Oligopoly

38.3%

Other Containment and Delivery Solutions

Competitive

46.3%

Engineering

Competitive

15.4%

Want the full wide moat stocks list?

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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.