VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Cochlear Limited vs ResMed 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

ResMed Inc.

RMD · New York Stock Exchange

Market cap (USD)$36B
Gross margin (TTM)60.1%
Operating margin (TTM)33.2%
Net margin (TTM)27.4%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryUS
Data as of2026-01-04
Moat score
76/ 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 ResMed Inc.'s moat claims, evidence, and risks.

View RMD analysis

Comparison highlights

  • Moat score gap: Cochlear Limited leads (81 / 100 vs 76 / 100 for ResMed Inc.).
  • Segment focus: Cochlear Limited has 3 segments (62.4% in Cochlear Implants); ResMed Inc. has 2 segments (87.5% in Sleep and Breathing Health).
  • Moat breadth: Cochlear Limited has 8 moat types across 3 domains; ResMed Inc. has 7 across 2.

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%

ResMed Inc.

Sleep and Breathing Health

Market

Sleep apnea and respiratory care devices and related consumables (PAP, masks, ventilation) plus connected monitoring services

Geography

Global

Customer

DME/HME providers, sleep clinics, hospitals, patients

Role

Medical device OEM + connected care software/data services

Revenue share

87.5%

Side-by-side metrics

Cochlear Limited
ResMed Inc.
Ticker / Exchange
COH - ASX
RMD - New York Stock Exchange
Market cap (USD)
$17B
$36B
Gross margin (TTM)
74.5%
60.1%
Operating margin (TTM)
22.7%
33.2%
Net margin (TTM)
16.2%
27.4%
Sector
Healthcare
Healthcare
Industry
Medical - Devices
Medical - Instruments & Supplies
HQ country
AU
US
Primary segment
Cochlear Implants
Sleep and Breathing Health
Market structure
Oligopoly
Oligopoly
Market share
60%-65% (reported)
58%-66% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
76 / 100
Moat domains
Demand, Legal, Supply
Demand, Legal
Last update
2026-01-04
2026-01-04

Moat coverage

Shared moat types

Brand TrustCompliance AdvantageIP Choke PointInstalled Base ConsumablesData Workflow Lockin

Cochlear Limited strengths

Capex Knowhow ScaleService Field NetworkFormat Lock In

ResMed Inc. strengths

Long Term ContractsTraining Org Change Costs

Segment mix

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

ResMed Inc. segments

Full profile >

Sleep and Breathing Health

Oligopoly

87.5%

Residential Care Software

Competitive

12.5%

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

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.