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CochlearFRA:OC5 +2.76%68 EV-to-OCF is 25.35 as of Aug. 26, 2026, which is 41% below its 10-year median of 43.14. GuruFocus rates FRA:OC5 with a GF Score™ of 68/100 and a GF Value™ of €185.18 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 852 Medical Devices & Instruments companies, Cochlear ranks worse than 80.05% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Cochlear's Enterprise Value is €5,543 Mil.
Cochlear's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was €219 Mil. Therefore, Cochlear's EV-to-OCF for today is 25.35.
The historical rank and industry rank for Cochlear's EV-to-OCF or its related term are showing as below:
FRA:OC5'
s EV-to-OCF Range Over the Past 10 Years
Min: -92.59 Med: 43.14 Max: 85.99
Current: 24.56
During the past 13 years, the highest EV-to-OCF of Cochlear was 85.99. The lowest was -92.59. And the median was 43.14.
FRA:OC5's EV-to-OCF is ranked worse than 80.05% of 852
companies
in the Medical Devices & Instruments industry
Industry Median: 7.695
vs FRA:OC5: 24.56
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 €84.26.
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 Jun. 2026 was €1.267.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Cochlear EV-to-OCF Related Terms
Cochlear EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Cochlear's EV-to-OCF 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-OCF, along with its competitors' market caps and EV-to-OCF 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-OCF vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Cochlear's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Cochlear's EV-to-OCF falls into.
Cochlear's current Enterprise Value is €5,543 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Cochlear's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was €219 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-OCF of 25.35 as of Aug. 26, 2026. This is 41% below median its historical median of 43.14. According to the industry distribution chart, Cochlear ranks #682 out of 852 companies in the Medical Devices & Instruments industry, placing it in the top 80%.
Is Cochlear's EV-to-OCF too high?
Cochlear's current EV-to-OCF of 25.35 is 41% below median its 10-year median of 43.14. The Medical Devices & Instruments industry median EV-to-OCF is 7.70. Cochlear's value of 25.35 is 229.4% above this industry median. Based on the distribution chart, Cochlear ranks #682 out of 852 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Cochlear has a GF Score™ of 68/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Cochlear's EV-to-OCF compare to ABT and SYK?
According to the Medical Devices & Instruments industry distribution chart, Cochlear ranks #682 out of 852 companies for EV-to-OCF. This places Cochlear in the lower half of its industry. The industry median EV-to-OCF is 7.70. Cochlear's value of 25.35 is 229.4% above this benchmark. While the company's 10-year median is 43.14 vs. the industry median of 7.70, 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-OCF for a Medical Devices & Instruments company?
The median EV-to-OCF among Medical Devices & Instruments companies is 7.70, based on 852 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cochlear's current EV-to-OCF of 25.35 is 229.4% 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-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Medical Devices & Instruments industry, the median EV-to-OCF is 7.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cochlear's current EV-to-OCF is 25.35, which is 41% below median its own 10-year median of 43.14. 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 €185.18, compared to a current price of €84.26 — trading 54.5% below its estimated fair value. The current EV-to-OCF is 25.35, which is 41% below median its 10-year median of 43.14 and 229.4% above the Medical Devices & Instruments industry median of 7.70. Cochlear's overall GF Score™ is 68/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Cochlear (FRA:OC5), the current EV-to-OCF is 25.35 as of Aug. 26, 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 €84.26 is trading 54.5% below its estimated GF Value™ of €185.18.
GuruFocus considers Cochlear to be Significantly Undervalued.
Key valuation signals for FRA:OC5:
EV-to-OCF: 25.35 (41% below median its 10-year median of 43.14)
GF Value™: €185.18 vs. price of €84.26 (54.5% below fair value)
Industry Position: 229.4% above the Medical Devices & Instruments median (#682 of 852)
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.
68GF Score
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