VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Cochlear Limited vs Dassault Systemes SE

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

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

Dassault Systemes SE

DSY · Euronext Paris

Market cap (USD)$30.8B
Gross margin (TTM)81%
Operating margin (TTM)21.4%
Net margin (TTM)18.6%
SectorTechnology
IndustrySoftware - Application
CountryFR
Data as of2025-12-29
Moat score
72/ 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 Dassault Systemes SE's moat claims, evidence, and risks.

View DSY analysis

Comparison highlights

  • Moat score gap: Cochlear Limited leads (81 / 100 vs 72 / 100 for Dassault Systemes SE).
  • Segment focus: Cochlear Limited has 3 segments (62.4% in Cochlear Implants); Dassault Systemes SE has 3 segments (55% in Industrial Innovation).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Cochlear Limited has 8 moat types across 3 domains; Dassault Systemes SE has 7 across 4.

Primary market context

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%

Dassault Systemes SE

Industrial Innovation

Market

Enterprise PLM, CAD/CAE, and digital manufacturing software for discrete industries

Geography

Global

Customer

Large enterprises and Tier-1 suppliers

Role

Software platform vendor

Revenue share

55%

Side-by-side metrics

Cochlear Limited
Dassault Systemes SE
Ticker / Exchange
COH - ASX
DSY - Euronext Paris
Market cap (USD)
$17B
$30.8B
Gross margin (TTM)
74.5%
81%
Operating margin (TTM)
22.7%
21.4%
Net margin (TTM)
16.2%
18.6%
Sector
Healthcare
Technology
Industry
Medical - Devices
Software - Application
HQ country
AU
FR
Primary segment
Cochlear Implants
Industrial Innovation
Market structure
Oligopoly
Oligopoly
Market share
60%-65% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
81 / 100
72 / 100
Moat domains
Demand, Legal, Supply
Demand, Network, Supply, Legal
Last update
2026-01-04
2025-12-29

Moat coverage

Shared moat types

Compliance AdvantageData Workflow Lockin

Cochlear Limited strengths

Brand TrustCapex Knowhow ScaleIP Choke PointService Field NetworkInstalled Base ConsumablesFormat Lock In

Dassault Systemes SE strengths

Suite BundlingDe Facto StandardSwitching Costs GeneralDistribution ControlReputation Reviews

Segment mix

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

Dassault Systemes SE segments

Full profile >

Industrial Innovation

Oligopoly

55%

Mainstream Innovation

Oligopoly

25%

Life Sciences

Oligopoly

20%

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.