COCHLEAR LIMITED (COH)
Share Price Analysis and Chart

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COH

COH - COCHLEAR LIMITED

FNArena Sector : Medical Equipment & Devices
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 0.4
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

$268.46

27 Mar
2025

-0.480

OPEN

$266.00

-0.18%

HIGH

$268.63

137,757

LOW

$264.61

TARGET
$284.117 5.8% upside
Franking for last dividend paid out: 80%
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FNARENA'S MARKET CONSENSUS FORECASTS
COH: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 544.4 630.2 xxx
DPS (cps) xxx 410.0 441.6 xxx
EPS Growth xxx 19.1% 15.8% xxx
DPS Growth xxx 24.2% 7.7% xxx
PE Ratio xxx N/A 42.4 xxx
Dividend Yield xxx N/A 1.7% xxx
Div Pay Ratio(%) xxx 75.3% 70.1% xxx

Dividend yield today if purchased 3 years ago: 1.87%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.53

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: 17/09 - ex-div 210c (franking 80%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx544.4
DPS All xxxxxxxxxxxxxxx410.0
Sales/Revenue xxxxxxxxxxxxxxx2,258.2 M
Book Value Per Share xxxxxxxxxxxxxxx2,817.3
Net Operating Cash Flow xxxxxxxxxxxxxxx388.8 M
Net Profit Margin xxxxxxxxxxxxxxx15.80 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx19.88 %
Return on Invested Capital xxxxxxxxxxxxxxx18.05 %
Return on Assets xxxxxxxxxxxxxxx13.43 %
Return on Equity xxxxxxxxxxxxxxx19.88 %
Return on Total Capital xxxxxxxxxxxxxxx25.85 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx80.7 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx42 M
Long Term Debt xxxxxxxxxxxxxxx202 M
Total Debt xxxxxxxxxxxxxxx244 M
Goodwill - Gross xxxxxxxxxxxxxxx258 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx514 M
Price To Book Value xxxxxxxxxxxxxxx11.79

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx89.8 M
Capex % of Sales xxxxxxxxxxxxxxx3.98 %
Cost of Goods Sold xxxxxxxxxxxxxxx562 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,175 M
Research & Development xxxxxxxxxxxxxxx277 M
Investments - Total xxxxxxxxxxxxxxx185 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

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxx xxxxxxxx xxxx xxxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

17/02/2025

3

Upgrade to Neutral from Sell

$285.00

6.16%

UBS notes Cochlear's cochlear implant (CI) unit growth was 6% year on year in 2H with stable pricing, and the company continues to expect 10% growth for FY25 implying uplift in 2H. The broker sees 10% unit growth as sustainable mid to long-term as penetration of the adult population increases slowly and steadily.

The broker sees continued strong CI sales (mid-term revenue growth forecast of 9%) as offsetting a lower services base from FY27 onward.

Target price rises to $285 from $270, and rating upgraded to Neutral from Sell.

The broker's upside and downside scenario points to $335 and $210 target price, respectively based on long-term CI revenue growth of 12% or 5%.

FORECAST
UBS forecasts a full year FY25 dividend of 443.00 cents and EPS of 631.00 cents.
UBS forecasts a full year FY26 dividend of 486.00 cents and EPS of 693.00 cents.

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

Goldman Sachs

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

17/02/2025

3

Neutral

$264.71

-1.40%

Jarden was disappointed with Cochlear's first half result, noting services revenue was an issue, with revenue growth in this segment declining by -12%.

Guidance has been downgraded to the lower end of the net profit range of $410-430m. Implant unit growth remained at a robust 10%.

Jarden maintains a Neutral rating, noting the company has more confidence in its unit growth profile, based on expectations of a better contribution from emerging market as well as the launch of the latest implant. Target edges up to $264.71 from $263.75.

FORECAST
Jarden forecasts a full year FY25 dividend of 430.90 cents and EPS of 619.60 cents.
Jarden forecasts a full year FY26 dividend of 438.70 cents and EPS of 762.50 cents.

Wilsons

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxx xxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

COH STOCK CHART

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