VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Cochlear Limited vs HCA Healthcare, Inc.

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

HCA Healthcare, Inc.

HCA · New York Stock Exchange

Market cap (USD)$116B
Gross margin (TTM)15.6%
Operating margin (TTM)15.6%
Net margin (TTM)8.6%
SectorHealthcare
IndustryMedical - Care Facilities
CountryUS
Data as of2026-01-01
Moat score
67/ 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 HCA Healthcare, Inc.'s moat claims, evidence, and risks.

View HCA analysis

Comparison highlights

  • Moat score gap: Cochlear Limited leads (81 / 100 vs 67 / 100 for HCA Healthcare, Inc.).
  • Segment focus: Cochlear Limited has 3 segments (62.4% in Cochlear Implants); HCA Healthcare, Inc. has 1 segment (100% in Hospitals and related healthcare entities).
  • Moat breadth: Cochlear Limited has 8 moat types across 3 domains; HCA Healthcare, Inc. has 4 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%

HCA Healthcare, Inc.

Hospitals and related healthcare entities

Market

Acute care hospitals and outpatient healthcare services

Geography

United States (multi-state) and England (United Kingdom)

Customer

Patients and third-party payers

Role

Provider operator

Revenue share

100%

Side-by-side metrics

Cochlear Limited
HCA Healthcare, Inc.
Ticker / Exchange
COH - ASX
HCA - New York Stock Exchange
Market cap (USD)
$17B
$116B
Gross margin (TTM)
74.5%
15.6%
Operating margin (TTM)
22.7%
15.6%
Net margin (TTM)
16.2%
8.6%
Sector
Healthcare
Healthcare
Industry
Medical - Devices
Medical - Care Facilities
HQ country
AU
US
Primary segment
Cochlear Implants
Hospitals and related healthcare entities
Market structure
Oligopoly
Oligopoly
Market share
60%-65% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
67 / 100
Moat domains
Demand, Legal, Supply
Legal, Supply, Demand
Last update
2026-01-04
2026-01-01

Moat coverage

Shared moat types

No overlap yet.

Cochlear Limited strengths

Brand TrustCompliance AdvantageCapex Knowhow ScaleIP Choke PointService Field NetworkInstalled Base ConsumablesFormat Lock InData Workflow Lockin

HCA Healthcare, Inc. strengths

Permits Rights Of WayScope EconomiesPhysical Network DensitySwitching Costs General

Segment mix

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

HCA Healthcare, Inc. segments

Full profile >

Hospitals and related healthcare entities

Oligopoly

100%

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.