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

$116.55

25 Jun
2026

3.100

OPEN

$114.28

2.73%

HIGH

$118.56

503,360

LOW

$113.74

TARGET
$116.028 -0.4% downside
Franking for last dividend paid out: 80%
OTHER COMPANIES IN THE SAME SECTOR
4DX . AT1 . 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 . SOM . TRJ . UBI .
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 26.4 xxx
Dividend Yield xxx N/A 2.7% xxx
Div Pay Ratio(%) xxx 153.2% 71.9% xxx

Dividend yield today if purchased 3 years ago: 1.32%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.51

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

-0.2

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxxxx xx xxxxx-xxxxxx xxxx xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

23/04/2026

3

Hold

$107.17

-8.05%

In Morgans' view, Cochlear's FY26 earnings downgrade reflects a more fundamental shift, with weaker demand, particularly in developed markets, highlighting a more cyclical profile than previously assumed.

While FX, restructuring and margin pressures contributed, softer implant demand is the key driver, challenging the perception of Cochlear as a purely structural growth story, the broker suggests.

Although long-term fundamentals remain intact, near-term visibility has deteriorated and execution risk is seen as rising.

Morgans lowers its earnings forecasts, cuts its target to $107.17 from $214.93, and retains a Hold rating, awaiting signs of demand stabilisation.

FORECAST
Morgans forecasts a full year FY26 dividend of 296.00 cents and EPS of 421.00 cents.
Morgans forecasts a full year FY27 dividend of 359.00 cents and EPS of 527.00 cents.

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

5

xxxxxxxxx xx xxxx xxxx xxxxxxx

$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

27/04/2026

3

Neutral

$169.00

45.00%

Jarden maintains a Neutral rating and lowers its price target for Cochlear to $169.00 following a -23.5% earnings downgrade.

The broker observes underlying net profit guidance was revised downwards to between $290m and $330m, reflecting weaker implant volumes across multiple geographies.

A contraction in gross margins to 72% compounds the challenges, alongside restructuring costs and doubtful debt provisions.

Competitive pressures appear to be escalating as rival firms capture market share through aggressive pricing strategies and volume-based discounts, commentary highlights.

The analysts process substantial earnings reductions across the forecast period and consider the share price reaction an appropriate response to the (now) limited near-term visibility.

FORECAST
Jarden forecasts a full year FY26 dividend of 442.00 cents and EPS of 479.20 cents.
Jarden forecasts a full year FY27 dividend of 488.70 cents and EPS of 527.80 cents.
Access Extra Coverage Research History >

COH STOCK CHART

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