VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Automatic Data Processing, Inc. vs Cochlear Limited

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

Automatic Data Processing, Inc.

ADP · NASDAQ

Market cap (USD)$104.1B
Gross margin (TTM)49.3%
Operating margin (TTM)19.2%
Net margin (TTM)19.8%
SectorTechnology
IndustryStaffing & Employment Services
CountryUS
Data as of2025-12-30
Moat score
71/ 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 Automatic Data Processing, Inc.'s moat claims, evidence, and risks.

View ADP 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 71 / 100 for Automatic Data Processing, Inc.).
  • Segment focus: Automatic Data Processing, Inc. has 2 segments (67.5% in Employer Services); Cochlear Limited has 3 segments (62.4% in Cochlear Implants).
  • Moat breadth: Automatic Data Processing, Inc. has 7 moat types across 4 domains; Cochlear Limited has 8 across 3.

Primary market context

Automatic Data Processing, Inc.

Employer Services

Market

Payroll processing and cloud HCM (HR, time, talent, tax, benefits) software and outsourcing

Geography

Global

Customer

Businesses (SMB to large enterprise)

Role

SaaS and managed services provider

Revenue share

67.5%

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

Automatic Data Processing, Inc.
Cochlear Limited
Ticker / Exchange
ADP - NASDAQ
COH - ASX
Market cap (USD)
$104.1B
$17B
Gross margin (TTM)
49.3%
74.5%
Operating margin (TTM)
19.2%
22.7%
Net margin (TTM)
19.8%
16.2%
Sector
Technology
Healthcare
Industry
Staffing & Employment Services
Medical - Devices
HQ country
US
AU
Primary segment
Employer Services
Cochlear Implants
Market structure
Oligopoly
Oligopoly
Market share
16.7% (reported)
60%-65% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
81 / 100
Moat domains
Demand, Legal, Supply, Financial
Demand, Legal, Supply
Last update
2025-12-30
2026-01-04

Moat coverage

Shared moat types

Compliance Advantage

Automatic Data Processing, Inc. strengths

Switching Costs GeneralScale Economies Unit CostFloat PrepaymentRegulated Standards PipeSuite BundlingUnderwriting Risk Pooling

Cochlear Limited strengths

Brand TrustCapex Knowhow ScaleIP Choke PointService Field NetworkInstalled Base ConsumablesFormat Lock InData Workflow Lockin

Segment mix

Automatic Data Processing, Inc. segments

Full profile >

Employer Services

Oligopoly

67.5%

Professional Employer Organization (PEO) Services

Competitive

32.5%

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.