VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Cochlear Limited vs Altria Group, 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

Altria Group, Inc.

MO · New York Stock Exchange

Market cap (USD)$94.5B
Gross margin (TTM)72%
Operating margin (TTM)55.2%
Net margin (TTM)44%
SectorConsumer
IndustryTobacco
CountryUS
Data as of2025-12-30
Moat score
88/ 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 Altria Group, Inc.'s moat claims, evidence, and risks.

View MO analysis

Comparison highlights

  • Moat score gap: Altria Group, Inc. leads (88 / 100 vs 81 / 100 for Cochlear Limited).
  • Segment focus: Cochlear Limited has 3 segments (62.4% in Cochlear Implants); Altria Group, Inc. has 3 segments (88.3% in Smokeable Products).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Cochlear Limited has 8 moat types across 3 domains; Altria Group, 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%

Altria Group, Inc.

Smokeable Products

Market

U.S. cigarettes and machine-made cigars

Geography

United States

Customer

Wholesalers/distributors and large retail organizations (serving adult tobacco consumers 21+)

Role

Manufacturer and brand owner

Revenue share

88.3%

Side-by-side metrics

Cochlear Limited
Altria Group, Inc.
Ticker / Exchange
COH - ASX
MO - New York Stock Exchange
Market cap (USD)
$17B
$94.5B
Gross margin (TTM)
74.5%
72%
Operating margin (TTM)
22.7%
55.2%
Net margin (TTM)
16.2%
44%
Sector
Healthcare
Consumer
Industry
Medical - Devices
Tobacco
HQ country
AU
US
Primary segment
Cochlear Implants
Smokeable Products
Market structure
Oligopoly
Oligopoly
Market share
60%-65% (reported)
45.9% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
81 / 100
88 / 100
Moat domains
Demand, Legal, Supply
Demand, Financial, Legal
Last update
2026-01-04
2025-12-30

Moat coverage

Shared moat types

Brand TrustCompliance Advantage

Cochlear Limited strengths

Capex Knowhow ScaleIP Choke PointService Field NetworkInstalled Base ConsumablesFormat Lock InData Workflow Lockin

Altria Group, Inc. strengths

Habit DefaultBenchmark Pricing PowerRegulated Standards Pipe

Segment mix

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

Altria Group, Inc. segments

Full profile >

Smokeable Products

Oligopoly

88.3%

Oral Tobacco Products

Oligopoly

11.6%

E-Vapor and New Products (NJOY, Horizon, R&D)

Competitive

0.2%

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.