VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Cochlear Limited vs DexCom, Inc.

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

Cochlear Limited

COH · ASX

Market cap (USD)$4.5B
Gross margin (TTM)74.1%
Operating margin (TTM)21.4%
Net margin (TTM)15.3%
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

DexCom, Inc.

DXCM · Nasdaq Global Select Market

Market cap (USD)$23.6B
Gross margin (TTM)60.1%
Operating margin (TTM)19.6%
Net margin (TTM)17.9%
SectorHealthcare
IndustryMedical - Devices
CountryUS
Data as of2026-04-24
Moat score
82/ 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 DexCom, Inc.'s moat claims, evidence, and risks.

View DXCM analysis

Comparison highlights

  • Moat score gap: DexCom, Inc. leads (82 / 100 vs 81 / 100 for Cochlear Limited).
  • Segment focus: Cochlear Limited has 3 segments (62.4% in Cochlear Implants); DexCom, Inc. has 1 segment (100% in Continuous glucose monitoring systems).
  • Moat breadth: Cochlear Limited has 8 moat types across 3 domains; DexCom, Inc. has 5 across 3.

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%

DexCom, Inc.

Continuous glucose monitoring systems

Market

Global continuous glucose monitoring systems and glucose biosensing devices

Geography

Global, with FY2025 revenue 71.5% United States and 28.5% international

Customer

People with diabetes, metabolic-health users, caregivers, clinicians, payors, distributors and pharmacy channels

Role

CGM device manufacturer, disposable sensor supplier, software/data platform and distribution partner

Revenue share

100%

Side-by-side metrics

Cochlear Limited
DexCom, Inc.
Ticker / Exchange
COH - ASX
DXCM - Nasdaq Global Select Market
Market cap (USD)
$4.5B
$23.6B
Gross margin (TTM)
74.1%
60.1%
Operating margin (TTM)
21.4%
19.6%
Net margin (TTM)
15.3%
17.9%
Sector
Healthcare
Healthcare
Industry
Medical - Devices
Medical - Devices
HQ country
AU
US
Primary segment
Cochlear Implants
Continuous glucose monitoring systems
Market structure
Oligopoly
Oligopoly
Market share
60%-65% (reported)
35.1% (estimated)
HHI estimate
n/a
4,452
Pricing power
Moderate
Moderate
Moat score
81 / 100
82 / 100
Moat domains
Demand, Legal, Supply
Demand, Network, Legal
Last update
2026-01-04
2026-04-24

Moat coverage

Shared moat types

Brand TrustInstalled Base ConsumablesData Workflow Lockin

Cochlear Limited strengths

Compliance AdvantageCapex Knowhow ScaleIP Choke PointService Field NetworkFormat Lock In

DexCom, Inc. strengths

Ecosystem ComplementsRegulated Standards Pipe

Segment mix

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

DexCom, Inc. segments

Full profile >

Continuous glucose monitoring systems

Oligopoly

100%

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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.