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: 0.39
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

$198.67

26 Feb
2026

1.670

OPEN

$197.44

0.85%

HIGH

$200.74

253,168

LOW

$195.14

TARGET
$245.238 23.4% 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 . 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 594.3 652.1 xxx
DPS (cps) xxx 430.0 464.4 xxx
EPS Growth xxx 9.2% 9.7% xxx
DPS Growth xxx 4.9% 8.0% xxx
PE Ratio xxx N/A 30.5 xxx
Dividend Yield xxx N/A 2.3% xxx
Div Pay Ratio(%) xxx 72.4% 71.2% xxx

Dividend yield today if purchased 3 years ago: 1.94%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.16

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 xxxxxxxxxxxxxxx594.3
DPS All xxxxxxxxxxxxxxx430.0
Sales/Revenue xxxxxxxxxxxxxxx2,355.8 M
Book Value Per Share xxxxxxxxxxxxxxx2,986.8
Net Operating Cash Flow xxxxxxxxxxxxxxx237.6 M
Net Profit Margin xxxxxxxxxxxxxxx16.51 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx20.52 %
Return on Invested Capital xxxxxxxxxxxxxxx18.58 %
Return on Assets xxxxxxxxxxxxxxx13.96 %
Return on Equity xxxxxxxxxxxxxxx20.52 %
Return on Total Capital xxxxxxxxxxxxxxx23.85 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-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 xxxxxxxxxxxxxxx42 M
Long Term Debt xxxxxxxxxxxxxxx194 M
Total Debt xxxxxxxxxxxxxxx236 M
Goodwill - Gross xxxxxxxxxxxxxxx279 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx276 M
Price To Book Value xxxxxxxxxxxxxxx10.06

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx102.6 M
Capex % of Sales xxxxxxxxxxxxxxx4.36 %
Cost of Goods Sold xxxxxxxxxxxxxxx615 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,231 M
Research & Development xxxxxxxxxxxxxxx292 M
Investments - Total xxxxxxxxxxxxxxx195 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

Morgans

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

16/02/2026

1

Buy

$350.00

76.17%

Despite Cochlear’s hedging program, the strong AUD is expected to reduce profits by -$30m in FY26 if current rates prevail, UBS reports.

Looking to FY27, the CEO has indicated costs will be managed to work towards the group’s 18% profit margin target.

Market share losses are reported due to competititve activity, but a recovery is expected in 2026. Buy and $350 target retained.

FORECAST
UBS forecasts a full year FY26 dividend of 491.00 cents and EPS of 700.00 cents.
UBS forecasts a full year FY27 dividend of 567.00 cents and EPS of 808.00 cents.

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$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

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%

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Jarden

18/02/2026

3

Neutral

$224.00

12.75%

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: Positives From February Results

Feb 26 2026 - Rudi's View
2
Weekly Ratings, Targets, Forecast Changes – 20-02-26

Feb 23 2026 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Feb 19, 2026

Feb 19 2026 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Feb 18, 2026

Feb 18 2026 - Daily Market Reports
5
FNArena Corporate Results Monitor – 16-02-2026

Feb 16 2026 - Australia

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