VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 9, 2026

Stock Comparison

Cochlear Limited vs IDEXX Laboratories, 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

IDEXX Laboratories, Inc.

IDXX · NASDAQ

Market cap (USD)$54.5B
Gross margin (TTM)61.7%
Operating margin (TTM)31.3%
Net margin (TTM)24.7%
SectorHealthcare
IndustryMedical - Diagnostics & Research
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 IDEXX Laboratories, Inc.'s moat claims, evidence, and risks.

View IDXX analysis

Comparison highlights

  • Moat score gap: IDEXX Laboratories, Inc. leads (82 / 100 vs 81 / 100 for Cochlear Limited).
  • Segment focus: Cochlear Limited has 3 segments (62.4% in Cochlear Implants); IDEXX Laboratories, Inc. has 4 segments (91.7% in Companion Animal Group).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Cochlear Limited has 8 moat types across 3 domains; IDEXX Laboratories, 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%

IDEXX Laboratories, Inc.

Companion Animal Group

Market

Veterinary diagnostics and practice management software for companion animals

Geography

Global

Customer

Veterinary practices, corporate veterinary groups, and reference laboratories

Role

Diagnostics platform owner (in-clinic instruments + consumables) and reference lab/service provider; practice management software provider

Revenue share

91.7%

Side-by-side metrics

Cochlear Limited
IDEXX Laboratories, Inc.
Ticker / Exchange
COH - ASX
IDXX - NASDAQ
Market cap (USD)
$17B
$54.5B
Gross margin (TTM)
74.5%
61.7%
Operating margin (TTM)
22.7%
31.3%
Net margin (TTM)
16.2%
24.7%
Sector
Healthcare
Healthcare
Industry
Medical - Devices
Medical - Diagnostics & Research
HQ country
AU
US
Primary segment
Cochlear Implants
Companion Animal Group
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
82 / 100
Moat domains
Demand, Legal, Supply
Demand, Supply, Legal
Last update
2026-01-04
2025-12-31

Moat coverage

Shared moat types

Compliance AdvantageInstalled Base ConsumablesData Workflow Lockin

Cochlear Limited strengths

Brand TrustCapex Knowhow ScaleIP Choke PointService Field NetworkFormat Lock In

IDEXX Laboratories, Inc. strengths

Physical Network DensityRegulated Standards Pipe

Segment mix

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

IDEXX Laboratories, Inc. segments

Full profile >

Companion Animal Group

Oligopoly

91.7%

Water Quality Products

Oligopoly

4.7%

Livestock, Poultry and Dairy

Competitive

3.1%

Other (OPTI Medical and out-licensing)

Competitive

0.4%

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.