VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Ambev S.A. vs Cochlear Limited

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

Ambev S.A.

ABEV3 · B3 - Brasil Bolsa Balcao

Market cap (USD)$214.4B
Gross margin (TTM)51.8%
Operating margin (TTM)26.5%
Net margin (TTM)17.7%
SectorConsumer
IndustryBeverages - Alcoholic
CountryBR
Data as of2025-12-28
Moat score
82/ 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 Ambev S.A.'s moat claims, evidence, and risks.

View ABEV3 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: Ambev S.A. leads (82 / 100 vs 81 / 100 for Cochlear Limited).
  • Segment focus: Ambev S.A. has 5 segments (45% in Brazil - Beer); Cochlear Limited has 3 segments (62.4% in Cochlear Implants).
  • Moat breadth: Ambev S.A. has 3 moat types across 3 domains; Cochlear Limited has 8 across 3.

Primary market context

Ambev S.A.

Brazil - Beer

Market

Beer production and distribution

Geography

Brazil

Customer

On-trade and off-trade retailers; distributors

Role

Producer & distributor

Revenue share

45%

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

Ambev S.A.
Cochlear Limited
Ticker / Exchange
ABEV3 - B3 - Brasil Bolsa Balcao
COH - ASX
Market cap (USD)
$214.4B
$17B
Gross margin (TTM)
51.8%
74.5%
Operating margin (TTM)
26.5%
22.7%
Net margin (TTM)
17.7%
16.2%
Sector
Consumer
Healthcare
Industry
Beverages - Alcoholic
Medical - Devices
HQ country
BR
AU
Primary segment
Brazil - Beer
Cochlear Implants
Market structure
Oligopoly
Oligopoly
Market share
55%-65% (estimated)
60%-65% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
82 / 100
81 / 100
Moat domains
Demand, Supply, Legal
Demand, Legal, Supply
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

Brand Trust

Ambev S.A. strengths

Distribution ControlContractual Exclusivity

Cochlear Limited strengths

Compliance AdvantageCapex Knowhow ScaleIP Choke PointService Field NetworkInstalled Base ConsumablesFormat Lock InData Workflow Lockin

Segment mix

Ambev S.A. segments

Full profile >

Brazil - Beer

Oligopoly

45%

Brazil - Non-alcoholic beverages

Oligopoly

9.4%

Central America and the Caribbean

Oligopoly

12.3%

Latin America South

Oligopoly

22.2%

Canada

Oligopoly

11.2%

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.