Cochlear Ltd

COH: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	D&!	LOCK\|F%>	LOCK\|$#>LyjQ

Cochlear: Shares Are Slightly Overvalued as Demand for Upgrades Soften

Shane Ponraj

Dec 18, 2025

Shares in Cochlear have fallen roughly 20% since July. Fiscal 2025 underlying net profit after tax grew just 1% because of a sales mix shift to lower-margin emerging markets. In October, the firm reiterated fiscal 2026 underlying NPAT guidance of 8% growth at the midpoint.

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Cochlear Ltd

Cochlear: Shares Are Slightly Overvalued as Demand for Upgrades Soften

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