VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Cochlear Limited vs Nestle S.A.

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

Nestle S.A.

NESN · SIX Swiss Exchange

Market cap (USD)$195.8B
Gross margin (TTM)46.8%
Operating margin (TTM)15.5%
Net margin (TTM)11.8%
SectorConsumer
IndustryPackaged Foods
CountryCH
Data as of2025-12-30
Moat score
57/ 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 Nestle S.A.'s moat claims, evidence, and risks.

View NESN analysis

Comparison highlights

  • Moat score gap: Cochlear Limited leads (81 / 100 vs 57 / 100 for Nestle S.A.).
  • Segment focus: Cochlear Limited has 3 segments (62.4% in Cochlear Implants); Nestle S.A. has 7 segments (26.9% in Powdered and Liquid Beverages).
  • Moat breadth: Cochlear Limited has 8 moat types across 3 domains; Nestle S.A. has 6 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%

Nestle S.A.

Powdered and Liquid Beverages

Market

Packaged coffee (instant, roast and ground, portioned) and other powdered beverages (cocoa/malt, creamers)

Geography

Global

Customer

Consumers (end-users) via retail and e-commerce; plus out-of-home channels

Role

Branded manufacturer and marketer; system operator for portioned coffee (machines + capsules)

Revenue share

26.9%

Side-by-side metrics

Cochlear Limited
Nestle S.A.
Ticker / Exchange
COH - ASX
NESN - SIX Swiss Exchange
Market cap (USD)
$17B
$195.8B
Gross margin (TTM)
74.5%
46.8%
Operating margin (TTM)
22.7%
15.5%
Net margin (TTM)
16.2%
11.8%
Sector
Healthcare
Consumer
Industry
Medical - Devices
Packaged Foods
HQ country
AU
CH
Primary segment
Cochlear Implants
Powdered and Liquid Beverages
Market structure
Oligopoly
Oligopoly
Market share
60%-65% (reported)
25% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
57 / 100
Moat domains
Demand, Legal, Supply
Demand, Supply, Legal
Last update
2026-01-04
2025-12-30

Moat coverage

Shared moat types

Brand TrustCompliance AdvantageInstalled Base Consumables

Cochlear Limited strengths

Capex Knowhow ScaleIP Choke PointService Field NetworkFormat Lock InData Workflow Lockin

Nestle S.A. strengths

Preferential Input AccessLearning Curve YieldDistribution Control

Segment mix

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

Nestle S.A. segments

Full profile >

Powdered and Liquid Beverages

Oligopoly

26.9%

PetCare

Oligopoly

20.7%

Nutrition and Health Science

Oligopoly

16.6%

Prepared dishes and cooking aids

Competitive

11.7%

Milk products and Ice cream

Competitive

11.4%

Confectionery

Oligopoly

9.2%

Water

Competitive

3.5%

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.