COCHLEAR LIMITED (COH)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

COH

COH - COCHLEAR LIMITED

FNArena Sector : Medical Equipment & Devices
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 0.39
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Cochlear is a medical device company that designs, manufactures and supplies hearing implants to the global market. Formed in 1981 with finance from the Australian government, it became a listed entity in 1995, and has grown to become the global leader in its field.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$165.88

26 Mar
2026

0.250

OPEN

$166.11

0.15%

HIGH

$166.90

200,848

LOW

$162.59

TARGET
$233.572 40.8% upside
Franking for last dividend paid out: 80%
OTHER COMPANIES IN THE SAME SECTOR
4DX . AT1 . AYA . BB1 . BRN . CAT . CBL . CGS . CMP . CSX . CTE . CU6 . CVB . CYC . EBR . EMV . EYE . FPH . IME . IMR . IPD . LDX . MX1 . NAN . ONE . PCK . PEB . PGC . PME . RAP . RMD . SHG . SOM . TRJ . UBI .
FNARENA'S MARKET CONSENSUS FORECASTS
COH: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 594.3 636.7 xxx
DPS (cps) xxx 430.0 453.6 xxx
EPS Growth xxx 9.2% 7.1% xxx
DPS Growth xxx 4.9% 5.5% xxx
PE Ratio xxx N/A 26.7 xxx
Dividend Yield xxx N/A 2.7% xxx
Div Pay Ratio(%) xxx 72.4% 71.2% xxx

Dividend yield today if purchased 3 years ago: 1.87%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.53

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 18/09 - ex-div 215.00c (franking 85%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic -399.6496.7439.6457.1544.4594.3
DPS All 160.0255.0300.0330.0410.0430.0
Sales/Revenue 1,352.3 M1,493.3 M1,641.1 M1,955.7 M2,258.2 M2,355.8 M
Book Value Per Share 2,133.62,588.42,562.82,662.92,817.32,986.8
Net Operating Cash Flow -157.8 M271.3 M376.5 M362.4 M388.8 M237.6 M
Net Profit Margin -17.62 %21.86 %17.62 %15.37 %15.80 %16.51 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed -22.40 %21.04 %17.07 %17.50 %19.88 %20.52 %
Return on Invested Capital -18.39 %18.03 %15.24 %15.94 %18.05 %18.58 %
Return on Assets -12.00 %13.00 %11.79 %11.94 %13.43 %13.96 %
Return on Equity -22.40 %21.04 %17.07 %17.50 %19.88 %20.52 %
Return on Total Capital 17.19 %16.30 %18.52 %21.20 %25.85 %23.85 %
Free Cash Flow ex dividends -444.4 M154.5 M138.0 M115.0 M80.7 M-103.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt 419 M32 M79 M39 M42 M42 M
Long Term Debt 285 M232 M175 M163 M202 M194 M
Total Debt 705 M264 M254 M202 M244 M236 M
Goodwill - Gross 271 M267 M257 M256 M258 M279 M
Cash & Equivalents - Generic 930 M610 M629 M556 M514 M276 M
Price To Book Value 8.869.727.758.6011.7910.06

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex 130.5 M72.6 M77.2 M95.9 M89.8 M102.6 M
Capex % of Sales 9.65 %4.86 %4.70 %4.90 %3.98 %4.36 %
Cost of Goods Sold 344 M410 M411 M488 M562 M615 M
Selling, General & Admin. Exp & Other 749 M751 M868 M1,055 M1,175 M1,231 M
Research & Development 185 M195 M211 M245 M277 M292 M
Investments - Total 97 M203 M122 M99 M185 M195 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgans

16/02/2026

3

Upgrade to Hold from Trim

$214.93

29.57%

Cochlear delivered a first half result that was softer than Morgans expected, negatively affected because of extended contracting for the Nucleus Nexa system.

Developed market momentum was delayed and there was an unfavourable emerging market mix while services were flat and acoustic surprised to the downside because of increased competitive pressures.

Management is now targeting the lower end of FY26 guidance and is increasingly reliant on a strong second half recovery, which the broker suspects is optimistic. Target is reduced to $214.93 from $299.54. Rating is upgraded to Hold from Trim on share price weakness.

FORECAST
Morgans forecasts a full year FY26 dividend of 431.00 cents and EPS of 633.00 cents.
Morgans forecasts a full year FY27 dividend of 478.00 cents and EPS of 707.00 cents.

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Jarden

18/02/2026

3

Neutral

$224.00

35.04%

Cochlear’s 1H26 result undershot expectations, with underlying NPAT of $194.8m down -5.2% y/y and below consensus, marking a fourth consecutive miss, Jarden stresses.

Management now expects FY26 NPAT at the bottom of the $435-460m range, with a stronger AUD creating an additional -$30m headwind and gross margin guidance reduced to 73%, partly offset by tighter SG&A control.

The Nexa implant rollout was slower than anticipated due to software and contracting delays, allowing competitors to discount in key developed markets and putting the 10%-plus unit growth target at risk.

Jarden cuts EPS forecasts by -8.7% for FY26, -18.0% for FY27 and -21.1% for FY28, citing revenue pressure, FX headwinds and competitive intensity but retains a Neutral rating and the target price is reduced to $224.00 from $278.51.

FORECAST
Jarden forecasts a full year FY26 dividend of 442.00 cents and EPS of 620.80 cents.
Jarden forecasts a full year FY27 dividend of 488.70 cents and EPS of 696.90 cents.
Access Extra Coverage Research History >

COH STOCK CHART

FNArena News on COH

1
Rudi’s View: Make Today’s Crisis Your Opportunity

Mar 25 2026 - Rudi's View
2
February 2026 Results – The Wrap

Mar 13 2026 - Feature Stories
3
Australian Broker Call *Extra* Edition – Mar 12, 2026

Mar 12 2026 - Daily Market Reports
4
February In Review: What’s Old Was New (Again)

Mar 04 2026 - Australia
5
Rudi’s View: A Season Of Large Cap Winners

Mar 04 2026 - Rudi's View

Latest Medical Equipment & Devices News

1
GLP-1s Drive Strong Quarter For ResMed

Feb 02 2026 - Australia
2
ImpediMed Ready To Scale Up

Dec 16 2025 - Small Caps
3
Fisher & Paykel Healthcare’s Superior Profile

Dec 02 2025 - Australia
4
4DMedical Poised For A Recovery

Nov 25 2025 - Technicals
5
Treasure Chest: Pro Medicus

Nov 12 2025 - Treasure Chest
6
Tariff Uncertainty Negates ResMed’s Q1 Positives

Nov 05 2025 - Australia
7
Acquisition Loads Up Catapult

Oct 20 2025 - Small Caps
8
Cochlear’s Future In Nexa’s Hands

Aug 19 2025 - Australia
9
ResMed’s New Level Of Support

Jul 29 2025 - Technicals
10
Strength To ‘AI’ Strength For Pro Medicus

Jul 10 2025 - Australia