VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Cochlear Limited vs L'Oreal 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

L'Oreal S.A.

OR · Euronext Paris

Market cap (USD)$193.9B
Gross margin (TTM)74.1%
Operating margin (TTM)19.5%
Net margin (TTM)14.6%
SectorConsumer
IndustryHousehold & Personal Products
CountryFR
Data as of2025-12-31
Moat score
80/ 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 L'Oreal S.A.'s moat claims, evidence, and risks.

View OR analysis

Comparison highlights

  • Moat score gap: Cochlear Limited leads (81 / 100 vs 80 / 100 for L'Oreal S.A.).
  • Segment focus: Cochlear Limited has 3 segments (62.4% in Cochlear Implants); L'Oreal S.A. has 4 segments (37% in Consumer Products Division).
  • Moat breadth: Cochlear Limited has 8 moat types across 3 domains; L'Oreal S.A. has 7 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%

L'Oreal S.A.

Consumer Products Division

Market

Mass-market beauty & personal care (skincare, haircare, makeup, hygiene)

Geography

Global

Customer

Consumers via mass retail, drugstores, supermarkets, and e-commerce

Role

Brand owner / marketer / manufacturer

Revenue share

37%

Side-by-side metrics

Cochlear Limited
L'Oreal S.A.
Ticker / Exchange
COH - ASX
OR - Euronext Paris
Market cap (USD)
$17B
$193.9B
Gross margin (TTM)
74.5%
74.1%
Operating margin (TTM)
22.7%
19.5%
Net margin (TTM)
16.2%
14.6%
Sector
Healthcare
Consumer
Industry
Medical - Devices
Household & Personal Products
HQ country
AU
FR
Primary segment
Cochlear Implants
Consumer Products Division
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
80 / 100
Moat domains
Demand, Legal, Supply
Demand, Supply, Legal
Last update
2026-01-04
2025-12-31

Moat coverage

Shared moat types

Brand TrustCompliance AdvantageCapex Knowhow ScaleService Field Network

Cochlear Limited strengths

IP Choke PointInstalled Base ConsumablesFormat Lock InData Workflow Lockin

L'Oreal S.A. strengths

Distribution ControlContractual ExclusivityTraining Org Change Costs

Segment mix

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

L'Oreal S.A. segments

Full profile >

Consumer Products Division

Oligopoly

37%

L'Oreal Luxe Division

Oligopoly

36%

Dermatological Beauty Division

Oligopoly

16%

Professional Products Division

Oligopoly

11%

Want the full wide moat stocks list?

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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.