COH FINANCIAL STATEMENTS

Cochlear Ltd — balance sheet, income statement and cash flow trends

COHCochlear Ltd

🇦🇺 Australia · AU · Healthcare · Medical Devices

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q2 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue2.4 B A$+8.5%

Gross Profit1.7 B A$+5.9%

Operating Income472 M A$-3.0%

EBITDA567 M A$+0.3%

Net Income345.3 M A$-1.5%

Peer Comparison· Medical Devices

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
COH	2.0%	73.0%	24.0%	14.6%
LIVN	12.4%	67.6%	15.0%	7.5%
IRTC	27.4%	71.0%	1.6%	-3.5%
BIO	1.9%	51.9%	18.1%	6.5%
GKOS	36.3%	78.1%	-26.1%	-34.3%
HAE	-2.0%	57.3%	21.0%	7.3%
Industry median	7.4%	58.9%	5.2%	-5.7%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q2 2025

Equity1.9 B A$69%
Current Liabilities558.9 M A$20%
Long-term Liabilities296.7 M A$11%

Key Figures

YoY change

Total Assets2.8 B A$+10.4%

Total Liabilities855.6 M A$+14.3%

Total Equity1.9 B A$+8.8%

Cash & ST Investments187.1 M A$-61.4%

Total Debt427.8 M A$+107.0%

Net Debt240.7 M A$—

Peer Comparison· Medical Devices

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
COH	2.46	22.1%	0.42	69.4%
LIVN	1.33	27.6%	-0.95	48.1%
IRTC	5.17	452.4%	14.26	16.0%
BIO	3.21	20.1%	-0.40	70.0%
GKOS	5.43	15.4%	1.21	75.1%
HAE	2.95	153.8%	3.49	33.2%
Industry median	3.28	44.7%	0.82	49.7%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q2 2025 · TTM

Key Figures

YoY change

Operating Cash Flow264.5 M A$-38.5%

Capital Expenditures63.3 M A$-16.5%

Free Cash Flow201.2 M A$-43.3%

Dividends Paid-281.3 M A$-229.8%

Peer Comparison· Medical Devices

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
COH	11.2%	8.5%	2.7%	76.6%
LIVN	17.1%	11.2%	5.9%	229.2%
IRTC	7.9%	2.4%	5.6%	-225.2%
BIO	19.7%	13.8%	5.9%	302.4%
GKOS	-1.6%	-3.4%	1.8%	4.6%
HAE	22.0%	19.5%	2.5%	301.3%
Industry median	7.2%	1.5%	4.1%	76.6%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.