VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Bio-Rad Laboratories, Inc. vs Cochlear Limited

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

Bio-Rad Laboratories, Inc.

BIO · New York Stock Exchange

Market cap (USD)$8.7B
Gross margin (TTM)52.3%
Operating margin (TTM)8.8%
Net margin (TTM)-26.4%
SectorHealthcare
IndustryMedical - Devices
CountryUS
Data as of2025-12-30
Moat score
61/ 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 Bio-Rad Laboratories, Inc.'s moat claims, evidence, and risks.

View BIO 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 61 / 100 for Bio-Rad Laboratories, Inc.).
  • Segment focus: Bio-Rad Laboratories, Inc. has 2 segments (59.9% in Clinical Diagnostics); Cochlear Limited has 3 segments (62.4% in Cochlear Implants).
  • Moat breadth: Bio-Rad Laboratories, Inc. has 6 moat types across 3 domains; Cochlear Limited has 8 across 3.

Primary market context

Bio-Rad Laboratories, Inc.

Clinical Diagnostics

Market

In vitro diagnostics test systems, reagents/test kits, informatics, and clinical laboratory quality controls

Geography

Global

Customer

Hospital laboratories; diagnostic reference laboratories; transfusion laboratories; physician office laboratories

Role

IVD OEM / installed-base consumables supplier (systems + kits + controls)

Revenue share

59.9%

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

Bio-Rad Laboratories, Inc.
Cochlear Limited
Ticker / Exchange
BIO - New York Stock Exchange
COH - ASX
Market cap (USD)
$8.7B
$17B
Gross margin (TTM)
52.3%
74.5%
Operating margin (TTM)
8.8%
22.7%
Net margin (TTM)
-26.4%
16.2%
Sector
Healthcare
Healthcare
Industry
Medical - Devices
Medical - Devices
HQ country
US
AU
Primary segment
Clinical Diagnostics
Cochlear Implants
Market structure
Oligopoly
Oligopoly
Market share
9%-11% (implied)
60%-65% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
61 / 100
81 / 100
Moat domains
Supply, Demand, Legal
Demand, Legal, Supply
Last update
2025-12-30
2026-01-04

Moat coverage

Shared moat types

Capex Knowhow ScaleInstalled Base ConsumablesCompliance Advantage

Bio-Rad Laboratories, Inc. strengths

Scope EconomiesDistribution ControlSwitching Costs General

Cochlear Limited strengths

Brand TrustIP Choke PointService Field NetworkFormat Lock InData Workflow Lockin

Segment mix

Bio-Rad Laboratories, Inc. segments

Full profile >

Life Science

Competitive

40.1%

Clinical Diagnostics

Oligopoly

59.9%

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.