VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Cadence Design Systems, Inc. vs Cochlear Limited

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

Cadence Design Systems, Inc.

CDNS · NASDAQ

Market cap (USD)$82B
Gross margin (TTM)87.8%
Operating margin (TTM)28.5%
Net margin (TTM)20.4%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2025-12-29
Moat score
84/ 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 Cadence Design Systems, Inc.'s moat claims, evidence, and risks.

View CDNS 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: Cadence Design Systems, Inc. leads (84 / 100 vs 81 / 100 for Cochlear Limited).
  • Segment focus: Cadence Design Systems, Inc. has 3 segments (71% in Core EDA); Cochlear Limited has 3 segments (62.4% in Cochlear Implants).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Cadence Design Systems, Inc. has 8 moat types across 3 domains; Cochlear Limited has 8 across 3.

Primary market context

Cadence Design Systems, Inc.

Core EDA

Market

Electronic design automation tools for semiconductor IC design and verification (digital, custom/analog, signoff, functional verification)

Geography

Global

Customer

Semiconductor designers (fabless and IDMs) and system companies with in-house silicon teams

Role

Tool vendor / workflow platform

Revenue share

71%

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

Cadence Design Systems, Inc.
Cochlear Limited
Ticker / Exchange
CDNS - NASDAQ
COH - ASX
Market cap (USD)
$82B
$17B
Gross margin (TTM)
87.8%
74.5%
Operating margin (TTM)
28.5%
22.7%
Net margin (TTM)
20.4%
16.2%
Sector
Technology
Healthcare
Industry
Software - Application
Medical - Devices
HQ country
US
AU
Primary segment
Core EDA
Cochlear Implants
Market structure
Oligopoly
Oligopoly
Market share
29%-31% (estimated)
60%-65% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
84 / 100
81 / 100
Moat domains
Demand, Legal, Supply
Demand, Legal, Supply
Last update
2025-12-29
2026-01-04

Moat coverage

Shared moat types

Data Workflow LockinInstalled Base ConsumablesIP Choke PointCapex Knowhow ScaleService Field Network

Cadence Design Systems, Inc. strengths

Suite BundlingLong Term ContractsDesign In Qualification

Cochlear Limited strengths

Brand TrustCompliance AdvantageFormat Lock In

Segment mix

Cadence Design Systems, Inc. segments

Full profile >

Core EDA

Oligopoly

71%

Semiconductor IP

Oligopoly

13%

System Design and Analysis

Competitive

16%

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.