Added to YB: 2026-06-16
Pitch date: 2026-06-11
COH.AX [neutral]
Cochlear Limited
-1.9%
current return
Author Info
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Company Info
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.
Market Cap
AUD 6.8B
Pitch Price
AUD 106.47
Price Target
N/A
Dividend
4.14%
EV/EBITDA
11.46
P/E
19.69
EV/Sales
2.93
Sector
Health Care Equipment and Supplies
Category
value
Cochlear (COH.AX) Deep Dive
COH.AX (watchlist): Down ~70% after April FY26 guidance cut ~30% on soft adult implant demand, Iran war, China VBP price reset (~75% cut). ~60% mkt share oligopoly, 39% median ROCE, 75% GM (guided 72%), high-margin Services annuity on 750K base. Sees structural growth intact, 3% adult penetration runway. Base case ~28% IRR (35x EV/FCF) vs 30% hurdle; trades ~20x normalized FCF. Pass for now; buy below ~$90-95.
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