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CochlearFRA:OC5 -0.82%73 EV-to-EBITDA is 15.69 as of Aug. 10, 2026, which is 47% below its 10-year median of 29.62. GuruFocus rates FRA:OC5 with a GF Score™ of 73/100 and a GF Value™ of €194.32 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 516 Medical Devices & Instruments companies, Cochlear ranks better than 50.58% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Cochlear's enterprise value is €5,017 Mil.
Cochlear's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 was €320 Mil. Therefore, Cochlear's EV-to-EBITDA for today is 15.69.
The historical rank and industry rank for Cochlear's EV-to-EBITDA or its related term are showing as below:
FRA:OC5'
s EV-to-EBITDA Range Over the Past 10 Years
Min: -79.8 Med: 29.62 Max: 45.8
Current: 14.55
During the past 13 years, the highest EV-to-EBITDA of Cochlear was 45.80. The lowest was -79.80. And the median was 29.62.
FRA:OC5's EV-to-EBITDA is ranked better than 50.58% of 516
companies
in the Medical Devices & Instruments industry
Industry Median: 14.76
vs FRA:OC5: 14.55
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Cochlear's share price for today is €76.16.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Cochlear's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was €2.985.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Cochlear's EV-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Medical Devices subindustry, Cochlear's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Cochlear EV-to-EBITDA vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Cochlear's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Cochlear's EV-to-EBITDA falls into.
Cochlear's current Enterprise Value is €5,017 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Cochlear's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 was €320 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Cochlear (FRA:OC5) has a EV-to-EBITDA of 15.69 as of Aug. 10, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Cochlear. This is 47% below median its historical median of 29.62. According to the industry distribution chart, Cochlear ranks #255 out of 516 companies in the Medical Devices & Instruments industry, placing it in the top 49.4%.
Is Cochlear's EV-to-EBITDA too high?
Cochlear's current EV-to-EBITDA of 15.69 is 47% below median its 10-year median of 29.62. The Medical Devices & Instruments industry median EV-to-EBITDA is 14.76. Cochlear's value of 15.69 is 6.3% above this industry median. Based on the distribution chart, Cochlear ranks #255 out of 516 companies in the Medical Devices & Instruments industry, which is above the industry midpoint. Overall, Cochlear has a GF Score™ of 73/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Cochlear's EV-to-EBITDA compare to ABT and SYK?
According to the Medical Devices & Instruments industry distribution chart, Cochlear ranks #255 out of 516 companies for EV-to-EBITDA. This puts Cochlear in the upper half of its industry. The industry median EV-to-EBITDA is 14.76. Cochlear's value of 15.69 is 6.3% above this benchmark. While the company's 10-year median is 29.62 vs. the industry median of 14.76, Cochlear has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for a Medical Devices & Instruments company?
The median EV-to-EBITDA among Medical Devices & Instruments companies is 14.76, based on 516 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cochlear's current EV-to-EBITDA of 15.69 is 6.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Cochlear. For the Medical Devices & Instruments industry, the median EV-to-EBITDA is 14.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cochlear's current EV-to-EBITDA is 15.69, which is 47% below median its own 10-year median of 29.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cochlear stock overvalued right now?
Based on GuruFocus' analysis, Cochlear (FRA:OC5) is currently considered Significantly Undervalued. The stock's GF Value™ is €194.32, compared to a current price of €76.16 — trading 60.8% below its estimated fair value. The current EV-to-EBITDA is 15.69, which is 47% below median its 10-year median of 29.62 and 6.3% above the Medical Devices & Instruments industry median of 14.76. Cochlear's overall GF Score™ is 73/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Cochlear (FRA:OC5), the current EV-to-EBITDA is 15.69 as of Aug. 10, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Cochlear (FRA:OC5) Overvalued in 2026?
Based on GuruFocus' analysis, Cochlear stock appears to be undervalued.
The current stock price of €76.16 is trading 60.8% below its estimated GF Value™ of €194.32.
GuruFocus considers Cochlear to be Significantly Undervalued.
Key valuation signals for FRA:OC5:
EV-to-EBITDA: 15.69 (47% below median its 10-year median of 29.62)
GF Value™: €194.32 vs. price of €76.16 (60.8% below fair value)
Industry Position: 6.3% above the Medical Devices & Instruments median (#255 of 516)
No single metric tells the full story. See the FRA:OC5 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cochlear is the leading cochlear implant device manufacturer, with around 60% global market share. Developed markets contribute 80% of group revenue, where cochlear implants are the standard of care for children with severe-to-profound hearing loss. The company also actively targets the growing cohort of seniors in developed markets. Tender-oriented emerging markets contribute the remaining 20% of group revenue. Main products include cochlear implants, bone-anchored hearing aids, and associated sound processors. In fiscal 2025, 49% of revenue came from the Americas, 34% from Europe, the Middle East, and Africa, and 18% from the Asia-Pacific segment.
73GF Score
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