Obermatt

Cochlear

ASX:COH · AU000000COH5
Health Care Equipment & SuppliesLarge

360

73
EV / EBIT40
Price / Owner Earnings41
Owner Earnings Yield80
Dividend Yield89
Price/Sales49
EV / Gross Profit54
Price/Book37
Return on Capital95
Cash Return on Capital96
Return on Equity79
EBIT Margin88
Gross Profitability89
Cash Conversion1
Accruals15
Owner Earnings Margin82
Sales growth9
Profit Growth81
Long-Term EPS Growth32
Owner Earnings Growth46
Reinvestment44
Price momentum1
Debt load64
Refinancing54
Debt Payback54
Liquidity70
Analyst ratings28
Opinion Changes50
Price Target Upside49
Market mood94
Value Creation12/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Cochlear clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryAustralia
IndustryHealth Care Equipment & Supplies
SizeLarge
TypePublic Company
ExchangeASX
Founded2000
Employees3,968
ISINAU000000COH5
Last UpdateApr 2, 2026
Themes
Assistive TechnologyWearablesDetectors, Sensors and MemsEar Nose & Throat (ENT)Biomedical EngineeringHealth CareMedical Device

Description

Cochlear Limited provides implantable hearing solutions for children and adults worldwide. Business Segments The company operates through distinct business segments based on geographical locations, allowing the company to tailor its strategies to m…

Analysis

Middle-of-the-road

Cochlear Limited is a middle-of-the-road business: neither the economics nor the price stand out from the peer group. One caution: reported profits have recently run ahead of actual cash, which we track closely.

The price is fair. You pay 20.8× its owner earnings: the cash an owner could take out each year, which is in the historically fair zone. At today's price, the market is assuming roughly 7% yearly growth; analysts expect 1%. The gap between price and consensus is worth watching: demanding expectations.

The trajectory is tepid and the balance sheet is sturdy. The company scores 12/20 on our value-creation score: creating some value.

What to watch: Some accounting patterns deserve a closer look. Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
67
2023202420252026

All-time high

73

Mar 2026

All-time low

1

Jan 2025

Average rank

42

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
49
7
5
19
Price/Earnings
44
9
12
22
Price/Book
37
5
5
13
Dividend Yield
89
37
36
46
Value (overall)
61
13
8
10

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →