VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Cochlear Limited vs London Stock Exchange Group plc

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

London Stock Exchange Group plc

LSEG · London Stock Exchange

Market cap (USD)$46.2B
Gross margin (TTM)51.5%
Operating margin (TTM)19.6%
Net margin (TTM)9.4%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryGB
Data as of2025-12-30
Moat score
74/ 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 London Stock Exchange Group plc's moat claims, evidence, and risks.

View LSEG analysis

Comparison highlights

  • Moat score gap: Cochlear Limited leads (81 / 100 vs 74 / 100 for London Stock Exchange Group plc).
  • Segment focus: Cochlear Limited has 3 segments (62.4% in Cochlear Implants); London Stock Exchange Group plc has 5 segments (51% in Data & Analytics).
  • Moat breadth: Cochlear Limited has 8 moat types across 3 domains; London Stock Exchange Group plc has 8 across 4.

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%

London Stock Exchange Group plc

Data & Analytics

Market

Financial market data, analytics and workflows (terminals and enterprise feeds)

Geography

Global

Customer

Financial institutions and corporates

Role

Data & analytics vendor

Revenue share

51%

Side-by-side metrics

Cochlear Limited
London Stock Exchange Group plc
Ticker / Exchange
COH - ASX
LSEG - London Stock Exchange
Market cap (USD)
$17B
$46.2B
Gross margin (TTM)
74.5%
51.5%
Operating margin (TTM)
22.7%
19.6%
Net margin (TTM)
16.2%
9.4%
Sector
Healthcare
Financials
Industry
Medical - Devices
Financial - Data & Stock Exchanges
HQ country
AU
GB
Primary segment
Cochlear Implants
Data & Analytics
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
74 / 100
Moat domains
Demand, Legal, Supply
Demand, Supply, Network, Legal
Last update
2026-01-04
2025-12-30

Moat coverage

Shared moat types

Brand TrustCompliance AdvantageData Workflow Lockin

Cochlear Limited strengths

Capex Knowhow ScaleIP Choke PointService Field NetworkInstalled Base ConsumablesFormat Lock In

London Stock Exchange Group plc strengths

Scale Economies Unit CostDe Facto StandardTwo Sided NetworkClearing SettlementConcession License

Segment mix

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

London Stock Exchange Group plc segments

Full profile >

Data & Analytics

Oligopoly

51%

FTSE Russell

Oligopoly

10.7%

Risk Intelligence

Oligopoly

6.2%

Capital Markets

Oligopoly

21.3%

Post Trade

Quasi-Monopoly

10.8%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.