Cochlear Limited (COH) Fair Value & Analysis
Healthcare · AU · Market cap A$8.0B
Fair value as of: Jul 12, 2026
From 26 valuation models · updated 28 days ago
A solid business, but screening 18% overvalued on our models.
What matters now
- A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- A fairly wide model range (A$57.19 to A$132.57) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.
How to read this chart
60‑month range A$90.00 – A$336.04 · fair‑value band A$57.19 – A$132.57 · the A$124.86 price screens above the A$102.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.
Analysis
Cochlear Limited (COH) currently trades at A$124.86, while our model-based Fair Value estimate is A$102.56, implying the stock looks roughly 17.9% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Cochlear Limited generated revenue of A$2.3B at a net margin of 14.8%. Revenue declined 0.4% year over year. It earns a return on equity of 18.2%. The balance sheet holds a net cash position of A$40.0M. Fundamentals as of Jul 12, 2026
Our scenario range runs from A$57.19 (bear case) to A$132.57 (bull case); at A$124.86, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 60% below its 52-week high and 41% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -22% fair-value upside, at -18%, COH screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings (A$107.32) versus Asset-Based (A$19.98). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 69 · Market factors (momentum, volatility) 30
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
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.
Full company description
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. 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Cochlear Limited reported revenue of A$2.3B in FY2025 versus A$1.5B in FY2021, a compound +11.9%/yr. Reported net income was A$389M in FY2025, compounding +4.5%/yr from FY2021.
COH screens 18% overvalued. Compare with Abbott Laboratories, →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Cochlear introduces the new Osia® 3 Sound Processor
- Don't Miss the Moments That Matter This Summer: Hearing Experts and Cochlear Encourage People to Check Their Hearing Health
- Better Hearing and Whole-Body Health: What to Know About MRI Access with Cochlear Implants
- Cochlear Shares Plunge 39% After Profit Guidance Cut
Peer Group
Medical Devices · 351 stocks
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.
Valuation Multiples vs Medical Devices median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Medical Devices stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Abbott Laboratories, ABT | $100.68 | $74.79 | -26% |
| Stryker Corporation SYK | $316.44 | $186.28 | -41% |
| Medtronic plc MDT | $83.56 | $65.57 | -22% |
| Boston Scientific Corporation BSX | $43.04 | $38.44 | -11% |
| Edwards Lifesciences Corporation EW | $85.73 | $41.02 | -52% |
| Siemens Healthineers AG SHL | €34.59 | €33.87 | -2% |
| Shenzhen Mindray Bio-Medical Electronics Co 300760 | ¥149.43 | ¥147.63 | -1% |
| Shanghai United Imaging Healthcare Co 688271 | ¥109.00 | ¥43.60 | -60% |
| Demant A/S DEMANT | kr 276.60 | kr 161.17 | -42% |
| Getinge AB GETIB | kr 206.80 | kr 192.14 | -7% |
Compare Cochlear Limited with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Healthcare stocks →
Frequently asked questions
Is Cochlear Limited (COH) overvalued or undervalued?
What is the fair value of COH?
What is the quality score of COH?
What is the revenue of Cochlear Limited (COH)?
What is the net profit margin of COH?
Does Cochlear Limited pay a dividend?
How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
Track Cochlear Limited and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.