VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Adobe Inc. vs Cochlear Limited

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

Adobe Inc.

ADBE · NASDAQ

Market cap (USD)$138.8B
Gross margin (TTM)89.1%
Operating margin (TTM)36.6%
Net margin (TTM)30%
SectorTechnology
IndustrySoftware - Infrastructure
CountryUS
Data as of2025-12-22
Moat score
68/ 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 Adobe Inc.'s moat claims, evidence, and risks.

View ADBE 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: Cochlear Limited leads (81 / 100 vs 68 / 100 for Adobe Inc.).
  • Segment focus: Adobe Inc. has 3 segments (74.3% in Digital Media); Cochlear Limited has 3 segments (62.4% in Cochlear Implants).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Adobe Inc. has 4 moat types across 2 domains; Cochlear Limited has 8 across 3.

Primary market context

Adobe Inc.

Digital Media

Market

Creative content creation and document productivity software subscriptions

Geography

Global

Customer

Individuals, SMB, enterprise

Role

Software platform

Revenue share

74.3%

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

Adobe Inc.
Cochlear Limited
Ticker / Exchange
ADBE - NASDAQ
COH - ASX
Market cap (USD)
$138.8B
$17B
Gross margin (TTM)
89.1%
74.5%
Operating margin (TTM)
36.6%
22.7%
Net margin (TTM)
30%
16.2%
Sector
Technology
Healthcare
Industry
Software - Infrastructure
Medical - Devices
HQ country
US
AU
Primary segment
Digital Media
Cochlear Implants
Market structure
Oligopoly
Oligopoly
Market share
n/a
60%-65% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
68 / 100
81 / 100
Moat domains
Demand, Network
Demand, Legal, Supply
Last update
2025-12-22
2026-01-04

Moat coverage

Shared moat types

Data Workflow Lockin

Adobe Inc. strengths

Suite BundlingEcosystem ComplementsDe Facto Standard

Cochlear Limited strengths

Brand TrustCompliance AdvantageCapex Knowhow ScaleIP Choke PointService Field NetworkInstalled Base ConsumablesFormat Lock In

Segment mix

Adobe Inc. segments

Full profile >

Digital Media

Oligopoly

74.3%

Digital Experience

Competitive

24.7%

Publishing and Advertising

Competitive

1.1%

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.