VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

Cochlear Limited vs EssilorLuxottica

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

Cochlear Limited

COH · ASX

Market cap (USD)$13B
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

EssilorLuxottica

EL · Euronext Paris

Market cap (USD)$110.3B
Gross margin (TTM)61.5%
Operating margin (TTM)12.4%
Net margin (TTM)8.5%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryFR
Data as of2026-01-11
Moat score
69/ 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 EssilorLuxottica's moat claims, evidence, and risks.

View EL analysis

Comparison highlights

  • Moat score gap: Cochlear Limited leads (81 / 100 vs 69 / 100 for EssilorLuxottica).
  • Segment focus: Cochlear Limited has 3 segments (62.4% in Cochlear Implants); EssilorLuxottica has 2 segments (52.7% in Direct to Consumer).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Cochlear Limited has 8 moat types across 3 domains; EssilorLuxottica 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%

EssilorLuxottica

Direct to Consumer

Market

Optical retail and e-commerce (prescription eyewear and sunglasses)

Geography

Global

Customer

Consumers (end-users)

Role

Omnichannel retailer + vertically integrated manufacturer/brand owner

Revenue share

52.7%

Side-by-side metrics

Cochlear Limited
EssilorLuxottica
Ticker / Exchange
COH - ASX
EL - Euronext Paris
Market cap (USD)
$13B
$110.3B
Gross margin (TTM)
74.1%
61.5%
Operating margin (TTM)
21.4%
12.4%
Net margin (TTM)
15.3%
8.5%
Sector
Healthcare
Healthcare
Industry
Medical - Devices
Medical - Instruments & Supplies
HQ country
AU
FR
Primary segment
Cochlear Implants
Direct to Consumer
Market structure
Oligopoly
Competitive
Market share
60%-65% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
69 / 100
Moat domains
Demand, Legal, Supply
Legal, Supply, Demand
Last update
2026-01-04
2026-01-11

Moat coverage

Shared moat types

Brand TrustIP Choke Point

Cochlear Limited strengths

Compliance AdvantageCapex Knowhow ScaleService Field NetworkInstalled Base ConsumablesFormat Lock InData Workflow Lockin

EssilorLuxottica strengths

Distribution ControlScale Economies Unit CostContractual Exclusivity

Segment mix

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

EssilorLuxottica segments

Full profile >

Professional Solutions

Oligopoly

47.3%

Direct to Consumer

Competitive

52.7%

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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.