VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Cochlear Limited vs MTU Aero Engines AG

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

MTU Aero Engines AG

MTX · Deutsche Boerse XETRA

Market cap (USD)$20.5B
Gross margin (TTM)12.7%
Operating margin (TTM)3%
Net margin (TTM)6.1%
SectorIndustrials
IndustryAerospace & Defense
CountryDE
Data as of2025-12-28
Moat score
61/ 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 MTU Aero Engines AG's moat claims, evidence, and risks.

View MTX analysis

Comparison highlights

  • Moat score gap: Cochlear Limited leads (81 / 100 vs 61 / 100 for MTU Aero Engines AG).
  • Segment focus: Cochlear Limited has 3 segments (62.4% in Cochlear Implants); MTU Aero Engines AG has 2 segments (67.4% in MRO business (commercial maintenance)).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Cochlear Limited has 8 moat types across 3 domains; MTU Aero Engines AG has 8 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%

MTU Aero Engines AG

MRO business (commercial maintenance)

Market

Commercial aircraft engine maintenance, repair and overhaul (engine MRO) and associated services

Geography

Global

Customer

Airlines, lessors and engine owners/operators

Role

Aftermarket service provider (engine shop visits, repairs, on-wing services, leasing/asset management)

Revenue share

67.4%

Side-by-side metrics

Cochlear Limited
MTU Aero Engines AG
Ticker / Exchange
COH - ASX
MTX - Deutsche Boerse XETRA
Market cap (USD)
$17B
$20.5B
Gross margin (TTM)
74.5%
12.7%
Operating margin (TTM)
22.7%
3%
Net margin (TTM)
16.2%
6.1%
Sector
Healthcare
Industrials
Industry
Medical - Devices
Aerospace & Defense
HQ country
AU
DE
Primary segment
Cochlear Implants
MRO business (commercial maintenance)
Market structure
Oligopoly
Competitive
Market share
60%-65% (reported)
10% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
61 / 100
Moat domains
Demand, Legal, Supply
Demand, Supply, Legal
Last update
2026-01-04
2025-12-28

Moat coverage

Shared moat types

Capex Knowhow ScaleService Field Network

Cochlear Limited strengths

Brand TrustCompliance AdvantageIP Choke PointInstalled Base ConsumablesFormat Lock InData Workflow Lockin

MTU Aero Engines AG strengths

Design In QualificationScope EconomiesGovernment Contracting RelationshipsOperational ExcellencePreferential Input AccessLong Term Contracts

Segment mix

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

MTU Aero Engines AG segments

Full profile >

OEM business (commercial and military engine business)

Oligopoly

32.6%

MRO business (commercial maintenance)

Competitive

67.4%

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.