VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Cochlear Limited vs Lam Research 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

Lam Research Corporation

LRCX · NASDAQ

Market cap (USD)$244.6B
Gross margin (TTM)49.3%
Operating margin (TTM)33%
Net margin (TTM)29.7%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2025-12-29
Moat score
73/ 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 Lam Research Corporation's moat claims, evidence, and risks.

View LRCX analysis

Comparison highlights

  • Moat score gap: Cochlear Limited leads (81 / 100 vs 73 / 100 for Lam Research Corporation).
  • Segment focus: Cochlear Limited has 3 segments (62.4% in Cochlear Implants); Lam Research Corporation has 2 segments (62.3% in Systems).
  • Moat breadth: Cochlear Limited has 8 moat types across 3 domains; Lam Research Corporation has 6 across 2.

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%

Lam Research Corporation

Systems

Market

Wafer fabrication equipment (etch, deposition, clean and related wafer processing tools)

Geography

Global

Customer

Semiconductor manufacturers (memory, foundry, logic/IDM)

Role

Equipment OEM

Revenue share

62.3%

Side-by-side metrics

Cochlear Limited
Lam Research Corporation
Ticker / Exchange
COH - ASX
LRCX - NASDAQ
Market cap (USD)
$17B
$244.6B
Gross margin (TTM)
74.5%
49.3%
Operating margin (TTM)
22.7%
33%
Net margin (TTM)
16.2%
29.7%
Sector
Healthcare
Technology
Industry
Medical - Devices
Semiconductors
HQ country
AU
US
Primary segment
Cochlear Implants
Systems
Market structure
Oligopoly
Oligopoly
Market share
60%-65% (reported)
8%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
73 / 100
Moat domains
Demand, Legal, Supply
Demand, Supply
Last update
2026-01-04
2025-12-29

Moat coverage

Shared moat types

Capex Knowhow ScaleService Field NetworkInstalled Base ConsumablesData Workflow Lockin

Cochlear Limited strengths

Brand TrustCompliance AdvantageIP Choke PointFormat Lock In

Lam Research Corporation strengths

Design In QualificationLearning Curve Yield

Segment mix

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

Lam Research Corporation segments

Full profile >

Systems

Oligopoly

62.3%

Customer Support Business Group (CSBG)

Quasi-Monopoly

37.7%

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.