VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Cochlear Limited vs Edwards Lifesciences Corporation

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

Edwards Lifesciences Corporation

EW · New York Stock Exchange

Market cap (USD)$49.4B
Gross margin (TTM)78.3%
Operating margin (TTM)26.6%
Net margin (TTM)23.2%
SectorHealthcare
IndustryMedical - Devices
CountryUS
Data as of2025-12-31
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 Edwards Lifesciences Corporation's moat claims, evidence, and risks.

View EW analysis

Comparison highlights

  • Moat score gap: Edwards Lifesciences Corporation leads (82 / 100 vs 81 / 100 for Cochlear Limited).
  • Segment focus: Cochlear Limited has 3 segments (62.4% in Cochlear Implants); Edwards Lifesciences Corporation has 3 segments (75.5% in Transcatheter Aortic Valve Replacement (TAVR)).
  • Moat breadth: Cochlear Limited has 8 moat types across 3 domains; Edwards Lifesciences Corporation has 6 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%

Edwards Lifesciences Corporation

Transcatheter Aortic Valve Replacement (TAVR)

Market

Transcatheter aortic valve replacement (TAVR) devices

Geography

Global

Customer

Hospitals and structural heart centers

Role

Medical device manufacturer

Revenue share

75.5%

Side-by-side metrics

Cochlear Limited
Edwards Lifesciences Corporation
Ticker / Exchange
COH - ASX
EW - New York Stock Exchange
Market cap (USD)
$17B
$49.4B
Gross margin (TTM)
74.5%
78.3%
Operating margin (TTM)
22.7%
26.6%
Net margin (TTM)
16.2%
23.2%
Sector
Healthcare
Healthcare
Industry
Medical - Devices
Medical - Devices
HQ country
AU
US
Primary segment
Cochlear Implants
Transcatheter Aortic Valve Replacement (TAVR)
Market structure
Oligopoly
Oligopoly
Market share
60%-65% (reported)
60%-73% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
82 / 100
Moat domains
Demand, Legal, Supply
Demand, Legal, Supply
Last update
2026-01-04
2025-12-31

Moat coverage

Shared moat types

Brand TrustCompliance AdvantageIP Choke Point

Cochlear Limited strengths

Capex Knowhow ScaleService Field NetworkInstalled Base ConsumablesFormat Lock InData Workflow Lockin

Edwards Lifesciences Corporation strengths

Training Org Change CostsRegulated Standards PipeSupply Chain Control

Segment mix

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

Edwards Lifesciences Corporation segments

Full profile >

Transcatheter Aortic Valve Replacement (TAVR)

Oligopoly

75.5%

Transcatheter Mitral and Tricuspid Therapies (TMTT)

Competitive

6.5%

Surgical Structural Heart

Oligopoly

18%

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.