VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Nabtesco Corporation vs Cochlear Limited

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

Nabtesco Corporation

6268 · Tokyo Stock Exchange

Market cap (USD)$474.6B
Gross margin (TTM)28.7%
Operating margin (TTM)6.6%
Net margin (TTM)5.1%
SectorIndustrials
IndustryIndustrial - Machinery
CountryJP
Data as of2025-12-30
Moat score
91/ 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 Nabtesco Corporation's moat claims, evidence, and risks.

View 6268 analysis

Cochlear Limited

COH · ASX

Market cap (USD)$17B
Gross margin (TTM)74.5%
Operating margin (TTM)22.7%
Net margin (TTM)16.2%
SectorHealthcare
IndustryMedical - Devices
CountryAU
Data as of2026-01-04
Moat score
81/ 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 Cochlear Limited's moat claims, evidence, and risks.

View COH analysis

Comparison highlights

  • Moat score gap: Nabtesco Corporation leads (91 / 100 vs 81 / 100 for Cochlear Limited).
  • Segment focus: Nabtesco Corporation has 4 segments (34.2% in Component Solutions Business); Cochlear Limited has 3 segments (62.4% in Cochlear Implants).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Nabtesco Corporation has 5 moat types across 3 domains; Cochlear Limited has 8 across 3.

Primary market context

Nabtesco Corporation

Component Solutions Business

Market

Precision reduction gears (RV reducers) for industrial robot joints

Geography

Global

Customer

Industrial robot manufacturers (OEMs)

Role

Precision motion-control component supplier

Revenue share

34.2%

Cochlear Limited

Cochlear Implants

Market

Cochlear implant systems (internal implant + external sound processors) for severe-to-profound hearing loss

Geography

Global

Customer

Hospitals/ENT clinics and audiology programs (providers) serving implant candidates/recipients; reimbursed by public/private payers

Role

Medical device OEM / platform owner (implant + processor + fitting software + clinical support)

Revenue share

62.4%

Side-by-side metrics

Nabtesco Corporation
Cochlear Limited
Ticker / Exchange
6268 - Tokyo Stock Exchange
COH - ASX
Market cap (USD)
$474.6B
$17B
Gross margin (TTM)
28.7%
74.5%
Operating margin (TTM)
6.6%
22.7%
Net margin (TTM)
5.1%
16.2%
Sector
Industrials
Healthcare
Industry
Industrial - Machinery
Medical - Devices
HQ country
JP
AU
Primary segment
Component Solutions Business
Cochlear Implants
Market structure
Quasi-Monopoly
Oligopoly
Market share
55%-65% (reported)
60%-65% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
91 / 100
81 / 100
Moat domains
Supply, Demand, Legal
Demand, Legal, Supply
Last update
2025-12-30
2026-01-04

Moat coverage

Shared moat types

Compliance AdvantageService Field NetworkBrand Trust

Nabtesco Corporation strengths

Learning Curve YieldDesign In Qualification

Cochlear Limited strengths

Capex Knowhow ScaleIP Choke PointInstalled Base ConsumablesFormat Lock InData Workflow Lockin

Segment mix

Nabtesco Corporation segments

Full profile >

Component Solutions Business

Quasi-Monopoly

34.2%

Transport Solutions Business

Oligopoly

27.4%

Accessibility Solutions Business

Quasi-Monopoly

33%

Other Businesses

Quasi-Monopoly

5.4%

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

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.