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Highlights

  • In FY25, revenue reached AUD 2,355.8M, up 4% YoY, statutory profit jumped 9% YoY to AUD 388.9M and dividend increased 5% YoY.
  • Cochlear implant units rose to 53,968 in FY25.
  • The company expects underlying profit to rise 11–17% to AUD 435–460M with growth in implants and services.

Cochlear Limited (ASX:COH) is an Australian company that designs and manufactures implantable hearing devices and sound processors. The company develops and produces hearing technologies and distributes them to markets worldwide.

Financial Update

In the financial year 2025, Cochlear reported sales revenue of AUD 2,355.8 million in FY25, up 4% from AUD 2,258 million in FY24. Statutory net profit in FY25 reached AUD 388.9 million (FY24: AUD 356.8 million), a 9% increase, while underlying net profit rose 1% YoY with an EX-cloud margin of 18%. Dividend increased by 5% YoY. Net cash for the period decreased to AUD AUD 276 million, reflecting continued investment in the business and an AUD 202 million rise in working capital. Cochlear implant units grew to 53,968 in FY25 from 48,040 in FY24

Business Updates

On 30 September 2025, the company announced that it had cancelled 500 ordinary fully paid shares on 30 September 2025 through an on-market buy-back, paying AUD 146,107.52. This reduced the issued capital to 65,398,385 shares.

Key Positives and Negatives

In FY25, the company’s operating margin was 22.1%, compared with 21.2% in FY24. Net margin increased to 16.6% in FY25 from 16.0% in FY24. The quick ratio declined to 1.52x in FY25 from 1.68x in FY24. Days sales outstanding rose to 172.3 days in FY25 from 122.4 days in FY24.

Outlook

Cochlear expects underlying net profit for FY26 to rise 11–17% YoY to AUD 435–460 million, driven by increased demand for Nucleus and NEXA implants in developed markets. Growth is weighted to the second half, while emerging market growth is expected to moderate. The company anticipates over 10% units growth in developed market cochlear implants, double-digit growth in acoustic implants supported by OSIA expansion and BAHA 7 launch, and continued expansion in the services segment.

The company expects to invest around 13% of its revenue in R&D and nearly AUD 80 million in cloud systems.

Share Performance of COH

COH shares closed at AUD 278.990 per share on 01 October 2025, recording an intraday loss of 0.09%. In the last three months, the stock price has dropped by 7.51%, but up in by 4.11% in the past six months. The 52-week high of COH is AUD 323.00, recorded on 31 January 2025, and the 52-week low is AUD 246.140, recorded on 07 April 2025.

Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 01 October 2025. The reference data in this report has been partly sourced from EODHD/Others.

 

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.