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

$271.92

20 Feb
2025

-6.080

OPEN

$276.73

-2.19%

HIGH

$279.69

292,123

LOW

$270.95

TARGET
$285.54 5.0% upside
Franking for last dividend paid out: 80%
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4DX . AT1 . AYA . BB1 . BRN . CAT . CBL . CGS . CMP . CSX . CU6 . CVB . CYC . EBR . EMV . EYE . FPH . IDX . IME . IMR . IPD . LDX . MX1 . NAN . ONE . PCK . PEB . PGC . PME . RMD . SOM . TRJ . UBI .
FNARENA'S MARKET CONSENSUS FORECASTS
COH: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 544.4 576.7 xxx
DPS (cps) xxx 410.0 441.8 xxx
EPS Growth xxx 19.1% 5.9% xxx
DPS Growth xxx 24.2% 7.7% xxx
PE Ratio xxx N/A 46.6 xxx
Dividend Yield xxx N/A 1.6% xxx
Div Pay Ratio(%) xxx 75.3% 76.6% xxx

Dividend yield today if purchased 3 years ago: 1.98%

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

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

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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Citi

17/02/2025

3

Neutral

$290.00

6.65%

Citi points to what the analyst believes is a significant miss on sound processor upgrades for Cochlear's 1H25 results, which came in below consensus by -13%, viewed as "unusual" in the run-up to the next launch of Kanso 3 in mid-2025.

The company reported 1H25 net profit after tax below the consensus estimate by -2%.

Citi believes patients appear to be experiencing a higher degree of satisfaction with the previous-generation processors and are facing cost-of-living pressures, the broker explains.

Management revised guidance to the bottom end of the $410m-$430m range on softer processor upgrades, with Cochlear implant unit growth of 10% unchanged and expected to pick up to 15% in 2H25 from 5% in 1H25.

EPS forecasts from the analyst are lowered by -2.2% for FY25 and lifted 1.4% in FY26.

Target price slips to $290 from $305. No change to the Neutral rating.

FORECAST
Citi forecasts a full year FY25 dividend of 440.00 cents and EPS of 410.60 cents.
Citi forecasts a full year FY26 dividend of 515.00 cents and EPS of 482.00 cents.

UBS

xx/xx/xxxx

3

xxxxxxx xx xxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
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

-2.65%

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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COH STOCK CHART

FNArena News on COH

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 21-02-25

Feb 21 2025 - Weekly Reports
2
Rudi’s View: Best Ideas & Conviction Calls

Feb 20 2025 - Rudi's View
3
Rudi’s View: More Beats In Early Feb Results

Feb 19 2025 - Rudi's View
4
Australian Broker Call *Extra* Edition – Feb 18, 2025

Feb 18 2025 - Daily Market Reports
5
FNArena Corporate Results Monitor – 17-02-2025

Feb 17 2025 - Australia

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