Cochlear Ltd (COH) fair value: what the stock is really worth
As of Nov 10, 2026: fair value (intrinsic value) of Cochlear Ltd stock A$203, price A$152, upside +32.9%, quality 71 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Cochlear Ltd
COH · AUThe stock costs 25% less than our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.
How to read this chart
60‑month range A$89.13 – A$332.77 · fair‑value band A$141.36 – A$263.65 · the A$152.40 price screens below the A$202.51 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.
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Company profile
Cochlear Limited provides implantable hearing solutions for children and adults worldwide. The company offers cochlear implant systems, sound processor upgrades, bone conduction systems, and other products.
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It also provides cochlear nucleus systems, including Nucleus sound processors, smart bimodal hearing solution, and Nucleus implants; cochlear Baha systems comprising Baha 6 max sound processor and Baha implant; and accessories, such as wireless devices and Nucleus water-safe accessories.
The company was founded in 1981 and is headquartered in Sydney, Australia.
Stock analysis
Cochlear Ltd (COH) currently trades at A$152.40, while our model-based Fair Value estimate is A$202.51, implying the stock looks roughly 25% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of A$97.96 per share, and 0 of the 26 models we run sit above the A$152.40 price.
Bear case: the Earnings-Based group reads lowest at A$34.90, and 26 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: A$141.36 (bear) to A$263.65 (bull), the price of A$152.40 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 71/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Cochlear Ltd reported revenue of A$2.3B in FY2026 versus A$1.6B in FY2022, a compound +9.2%/yr. Reported net income was A$147M in FY2026, compounding −15.5%/yr from FY2022.
Key figures
Market cap A$10.0B (≈ $6.9B) Mid · P/E ratio 64.3 · P/S ratio 4.25 · EPS (TTM) A$2.37 · Dividend yield 1.7% · Net margin 6.3% · Return on equity 8.0% · Return on assets (EBIT) 15.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (medium confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 46% below its 52-week high and 71% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 9% fair-value upside, at 33%, COH screens cheaper than that median.
Fair Value models
All 26 models by family
The fair value above starts from this blend and is adjusted for a year distorted by one-off effects.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
Watch COH, get fair value alerts →
Recent news
- Cochlear And 2 Australian Healthcare Stocks To Watch
- Cochlear Heads These 3 Top Australian Healthcare Stocks To Watch
- Cochlear® Nucleus® Nexa® System Named One of TIME's Best Inventions of 2026
- Cochlear Named #1 Most Trustworthy Healthcare Company In The World For 2026
Compare Cochlear Ltd with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Devices · 400 stocks
Valuation Multiplesvs Medical Devices median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Health Care sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- EV/EBITDA by industry
- Dividend yield by industry
- PEG screener for stocks with fair value
- Valuation of the Australia market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Medical Devices stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Shenzhen Mindray Bio-Medical Electronics Co 300760 | ¥178.92 | ¥202.57 | +13% | vs COH |
| Stryker Corporation SYK | $325.73 | $358.46 | +10% | vs COH |
| Boston Scientific Corporation BSX | $44.02 | $48.42 | +10% | vs COH |
| DexCom, Inc DXCM | $81.07 | $89.18 | +10% | vs COH |
| STERIS plc STE | $256.94 | $279.53 | +9% | vs COH |
| GE HealthCare Technologies Inc GEHC | $84.03 | $69.92 | −17% | vs COH |
| Edwards Lifesciences Corporation EW | $104.71 | $81.94 | −22% | vs COH |
| Abbott Laboratories, ABT | $110.51 | $75.28 | −32% | vs COH |
| Medtronic plc MDT | $102.79 | $65.61 | −36% | vs COH |
| Koninklijke Philips N.V PHIA | €27.06 | €15.23 | −44% | vs COH |
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