VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Becton, Dickinson and Company vs Cochlear Limited

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

Becton, Dickinson and Company

BDX · New York Stock Exchange

Market cap (USD)$57.2B
Gross margin (TTM)45.4%
Operating margin (TTM)11.8%
Net margin (TTM)7.7%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryUS
Data as of2025-12-31
Moat score
66/ 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 Becton, Dickinson and Company's moat claims, evidence, and risks.

View BDX 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 66 / 100 for Becton, Dickinson and Company).
  • Segment focus: Becton, Dickinson and Company has 5 segments (29.5% in Medical Essentials); Cochlear Limited has 3 segments (62.4% in Cochlear Implants).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Becton, Dickinson and Company has 7 moat types across 3 domains; Cochlear Limited has 8 across 3.

Primary market context

Becton, Dickinson and Company

Medical Essentials

Market

Single-use medical consumables and specimen collection systems

Geography

Global

Customer

Healthcare providers and clinical labs

Role

Manufacturer

Revenue share

29.5%

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

Becton, Dickinson and Company
Cochlear Limited
Ticker / Exchange
BDX - New York Stock Exchange
COH - ASX
Market cap (USD)
$57.2B
$17B
Gross margin (TTM)
45.4%
74.5%
Operating margin (TTM)
11.8%
22.7%
Net margin (TTM)
7.7%
16.2%
Sector
Healthcare
Healthcare
Industry
Medical - Instruments & Supplies
Medical - Devices
HQ country
US
AU
Primary segment
Medical Essentials
Cochlear Implants
Market structure
Competitive
Oligopoly
Market share
n/a
60%-65% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
66 / 100
81 / 100
Moat domains
Demand, Supply, Legal
Demand, Legal, Supply
Last update
2025-12-31
2026-01-04

Moat coverage

Shared moat types

Installed Base ConsumablesCompliance AdvantageData Workflow Lockin

Becton, Dickinson and Company strengths

Operational ExcellenceLong Term ContractsDesign In QualificationSwitching Costs General

Cochlear Limited strengths

Brand TrustCapex Knowhow ScaleIP Choke PointService Field NetworkFormat Lock In

Segment mix

Becton, Dickinson and Company segments

Full profile >

Medical Essentials

Competitive

29.5%

Connected Care

Oligopoly

20.9%

BioPharma Systems

Oligopoly

10.6%

Interventional

Competitive

23.9%

Life Sciences

Oligopoly

15.1%

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.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.