VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Evolution AB vs Union Pacific Corporation

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

Union Pacific Corporation

UNP · New York Stock Exchange

Market cap (USD)
SectorIndustrials
CountryUS
Data as of2025-12-30
Moat score
72/ 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 Union Pacific Corporation's moat claims, evidence, and risks.

View UNP analysis

Comparison highlights

  • Moat score gap: Evolution AB leads (94 / 100 vs 72 / 100 for Union Pacific Corporation).
  • Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); Union Pacific Corporation has 4 segments (34.8% in Industrial).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Evolution AB has 4 moat types across 3 domains; Union Pacific Corporation has 5 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%

Union Pacific Corporation

Industrial

Market

Rail freight transportation for industrial commodities (chemicals and plastics, metals and minerals, forest products, energy and specialized markets)

Geography

U.S. western two-thirds with interchange to other railroads; cross-border corridors to Mexico and Canada

Customer

Chemical producers, refiners, plastics manufacturers, construction and material suppliers, metals and mining, industrial shippers

Role

Class I rail carrier / linehaul freight transport

Revenue share

34.8%

Side-by-side metrics

Evolution AB
Union Pacific Corporation
Ticker / Exchange
EVO - Nasdaq Stockholm
UNP - New York Stock Exchange
Market cap (USD)
$13.5B
n/a
Sector
Consumer
Industrials
HQ country
SE
US
Primary segment
Live Casino
Industrial
Market structure
Oligopoly
Oligopoly
Market share
50%-60% (reported)
n/a
HHI estimate
5,050
n/a
Pricing power
Strong
Moderate
Moat score
94 / 100
72 / 100
Moat domains
Supply, Legal, Demand
Legal, Supply
Last update
2025-12-26
2025-12-30

Moat coverage

Shared moat types

No overlap yet.

Evolution AB strengths

Capex Knowhow ScaleCompliance AdvantageSuite BundlingIP Choke Point

Union Pacific Corporation strengths

Permits Rights Of WayPhysical Network DensityScale Economies Unit CostOperational ExcellenceScope Economies

Segment mix

Evolution AB segments

Full profile >

Live Casino

Oligopoly

86.1%

RNG / Slots & Digital Casino Games

Competitive

13.9%

Union Pacific Corporation segments

Full profile >

Bulk

Oligopoly

29.7%

Industrial

Oligopoly

34.8%

Premium

Oligopoly

29.5%

Other subsidiary, accessorial and other revenues

Competitive

5.9%

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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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.