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: 0.52
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

$136.39

17 Sep
2026

-0.850

OPEN

$132.31

-0.62%

HIGH

$137.45

329,263

LOW

$132.28

TARGET
$138.537 1.6% upside
Franking for last dividend paid out: 85%
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4DX . AT1 . AVE . AYA . BB1 . BRN . CAT . CBL . CGS . CMP . CSX . CTE . CU6 . CVB . CYC . EBR . EIQ . EMV . EYE . FPH . IME . IMR . IPD . LDX . MX1 . NAN . ONE . PCK . PEB . PGC . PME . RAP . RMD . SHG . SLD . SOM . TRJ .
FNARENA'S MARKET CONSENSUS FORECASTS
COH: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 225.2 519.2 xxx
DPS (cps) xxx 345.0 373.2 xxx
EPS Growth xxx - 62.1% 100.0% xxx
DPS Growth xxx - 19.8% 8.2% xxx
PE Ratio xxx N/A 25.8 xxx
Dividend Yield xxx N/A 2.8% xxx
Div Pay Ratio(%) xxx 153.2% 71.9% xxx

Dividend yield today if purchased 3 years ago: 1.33%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.58

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: 21/08 - ex-div 130.00c (franking 85%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx225.2
DPS All xxxxxxxxxxxxxxx345.0
Sales/Revenue xxxxxxxxxxxxxxx2,334.7 M
Book Value Per Share xxxxxxxxxxxxxxx2,661.4
Net Operating Cash Flow xxxxxxxxxxxxxxx368.0 M
Net Profit Margin xxxxxxxxxxxxxxx6.31 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx7.98 %
Return on Invested Capital xxxxxxxxxxxxxxx7.27 %
Return on Assets xxxxxxxxxxxxxxx5.43 %
Return on Equity xxxxxxxxxxxxxxx7.98 %
Return on Total Capital xxxxxxxxxxxxxxx14.54 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx25.7 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx42 M
Long Term Debt xxxxxxxxxxxxxxx171 M
Total Debt xxxxxxxxxxxxxxx213 M
Goodwill - Gross xxxxxxxxxxxxxxx266 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx188 M
Price To Book Value xxxxxxxxxxxxxxx4.57

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx90.7 M
Capex % of Sales xxxxxxxxxxxxxxx3.88 %
Cost of Goods Sold xxxxxxxxxxxxxxx688 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,346 M
Research & Development xxxxxxxxxxxxxxx323 M
Investments - Total xxxxxxxxxxxxxxx58 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

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

19/08/2026

3

Neutral

$124.00

-9.08%

Cochlear's FY26 revenue and gross profit were largely in line while underlying profit was 4% above consensus, driven by lower-than-expected Selling, General and Administrative Expense, Macquarie notes.

FY27 profit guidance is in line with consensus, factoring in modest low-single-digit constant currency sales growth and slightly lower opex. Cochlear aims to return the profit margin to 18% over the medium-term from 13.7% in FY26, but no longer has a firm gross-margin target of 75%.

Modest cochlear implant growth and moderating services revenue amid gross-margin pressure and execution risk across referral pathways, evidence generation and cost control, leave Macquarie on a Neutral rating. Target rises to $124 from $115.

FORECAST
Macquarie forecasts a full year FY27 dividend of 360.00 cents and EPS of 514.00 cents.
Macquarie forecasts a full year FY28 dividend of 368.00 cents and EPS of 526.00 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

(xx/xx/xxxx)

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

Jarden

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

30/04/2026

1

Buy

$120.00

-12.02%

Canaccord Genuity retains a Buy rating on Cochlear but cuts its target price sharply to $120 from $295 following a significant FY26 guidance downgrade.

Underlying profit guidance was reduced by -26%, driven by weaker demand, particularly in the US, disruptions in Europe and the Middle East, and China pricing constraints, the analysts explain.

The Middle East is estimated to contribute around 8%-10% of annual Cochlear implant (CI) sales, with volumes typically skewed toward the fourth quarter. The broker also factors into its forecasts restructuring costs, receivables risk and FX headwinds.

Despite the downgrade and multiple compression, Canaccord sees no new structural threat and believes valuation now better reflects fundamentals after removing the historical "market leader" premium.
Access Extra Coverage Research History >

COH STOCK CHART

FNArena News on COH

1
Rudi’s View: Resources, Healthcare & Best Buys

Sep 03 2026 - Rudi's View
2
Rudi’s View: Resilient, But August Fails To Excite

Sep 02 2026 - Rudi's View
3
Rudi’s View: August Delivers Soft Guidance, Higher Dividends

Aug 26 2026 - Rudi's View
4
Weekly Ratings, Targets, Forecast Changes – 21-08-26

Aug 24 2026 - Weekly Reports
5
Next Week At A Glance 24-28 Aug 2026

Aug 21 2026 - Weekly Reports

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