RHM Stock Analysis: Rheinmetall | XETRA
Aerospace & Defense | XETRA, Germany | Market Cap: 47.555m EUR | 12M Return: -43.1% | DE0007030009 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 165M
EPS Trend: 97.3%
Qual. Beats: 1
Rev. Trend: 86.0%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Rheinmetall AG is a Germany-based defense company listed on XETRA under the ticker RHM, operating in the Aerospace & Defense sub-industry within the Industrials sector. It provides mobility and security technologies across Europe, the Americas, Asia, the Near East, and other international markets. The company is headquartered in Düsseldorf, was founded in 1889, and originally operated under the name Rheinmetall Berlin AG before adopting its current name in 1996.
The business is organized into three core segments: Vehicle Systems, Weapon and Ammunition, and Electronic Solutions. Vehicle Systems covers combat, logistics, support, and special vehicles, including armored tracked vehicles, wheeled tactical and logistics vehicles, turret systems, artillery, and CBRN protection systems. Weapon and Ammunition delivers firepower and protection offerings such as weapons, ammunition, propellants, protection systems, and international project services. Electronic Solutions focuses on sensors, networking platforms, automated connected soldier effectors, cyberspace protection, and training and simulation.
Its product portfolio spans air defense, soldier systems, fire control systems, radar technology, and command, control, and reconnaissance (C2/C4ISR) solutions, serving army, air force, navy, and civil customers. Rheinmetall also maintains aftermarket activities, providing lifecycle support and services across its installed base. As a vertically integrated European defense prime, it combines platforms, munitions, and electronics under one roof-a structure that distinguishes it from peers focused on a single domain and positions it across both conventional munitions demand and next-generation networked defense systems.
- European defense budgets surge on Russia-Ukraine security concerns
- Germany commits to multi-billion rearmament and defense investment program
- Ammunition and air defense order backlog drives margin expansion
| Net Income: 716.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.75 > 1.0 |
| NWC/Revenue: 0.23% < 20% (prev 10.12%; Δ -9.89% < -1%) |
| CFO/TA 0.06 > 3% & CFO 1.31b > Net Income 716.0m |
| Net Debt (3.03b) to EBITDA (2.41b): 1.26 < 3 |
| Current Ratio: 1.00 > 1.5 & < 3 |
| Outstanding Shares: last quarter (46.6m) vs 12m ago 0.71% < -2% |
| Gross Margin: 37.33% > 18% (prev 51.30%; Δ -13.97% > 0.5%) |
| Asset Turnover: 59.19% > 50% (prev 73.12%; Δ -13.93% > 0%) |
| Interest Coverage Ratio: 16.40 > 6 (EBIT TTM 1.92b / Interest Expense TTM 117.0m) |
| A: 0.00 (Total Current Assets 12.4b - Total Current Liabilities 12.4b) / Total Assets 20.6b |
| B: 0.16 (Retained Earnings 3.26b / Total Assets 20.6b) |
| C: 0.11 (EBIT TTM 1.92b / Avg Total Assets 17.6b) |
| D: 0.33 (Book Value of Equity 4.97b / Total Liabilities 14.9b) |
| Altman-Z'' = 1.61 = BB |
| DSRI: 1.62 (Receivables 4.12b/2.61b, Revenue 10.4b/10.7b) |
| GMI: 1.37 (GM 51.30% / 37.33%) |
| AQI: 0.99 (AQ_t 0.26 / AQ_t-1 0.26) |
| SGI: 0.98 (Revenue 10.4b / 10.7b) |
| TATA: -0.03 (NI 716.0m - CFO 1.31b) / TA 20.6b) |
| Beneish M = -2.21 (Cap -4..+1) = BB |
As of November 03, 2026, the stock is trading at EUR 1000.00 with a total of 221,111 shares traded. Over the past week, the price has changed by -3.31%, over one month by +4.50%, over three months by -14.89% and over the past year by -43.05%.
Current recommended Stop Loss: 954.60 (which is 4.5% or 1.3 ATR below the current price).
Rheinmetall has no consensus analysts rating.
P/E Trailing = 39.5728
P/E Forward = 19.4175
P/S = 4.1667
P/B = 9.5101
P/EG = 0.344
Revenue TTM = 10.4b EUR
EBIT TTM = 1.92b EUR
EBITDA TTM = 2.41b EUR
Long Term Debt = 902.0m EUR (from longTermDebt, last fiscal year)
Short Term Debt = 1.74b EUR (from shortTermDebt, last quarter)
Debt = 3.28b EUR (from shortLongTermDebtTotal, last quarter) + Leases 306.0m
Net Debt = 3.03b EUR (calculated: Debt 3.28b - CCE 255.0m)
Enterprise Value = 50.6b EUR (47.6b + Debt 3.28b - CCE 255.0m)
Interest Coverage Ratio = 16.40 (Ebit TTM 1.92b / Interest Expense TTM 117.0m)
EV/FCF = 129.7x (Enterprise Value 50.6b / FCF TTM 390.0m)
FCF Yield = 0.77% (FCF TTM 390.0m / Enterprise Value 50.6b)
FCF Margin = 3.74% (FCF TTM 390.0m / Revenue TTM 10.4b)
Net Margin = 6.87% (Net Income TTM 716.0m / Revenue TTM 10.4b)
Gross Margin = 37.33% ((Revenue TTM 10.4b - Cost of Revenue TTM 6.54b) / Revenue TTM)
Gross Margin QoQ = 24.32% (prev 21.88%)
Tobins Q-Ratio = 2.45 (Enterprise Value 50.6b / Total Assets 20.6b)
Interest Expense / Debt = 3.56% (Interest Expense 117.0m / Debt 3.28b)
Taxrate = 25.60% (467.0m / 1.82b)
NOPAT = 1.43b (EBIT 1.92b * (1 - 25.60%))
Current Ratio = 1.00 (Total Current Assets 12.4b / Total Current Liabilities 12.4b)
Debt / Equity = 0.66 (Debt 3.28b / totalStockholderEquity, last quarter 4.97b)
Debt / EBITDA = 1.26 (Net Debt 3.03b / EBITDA 2.41b)
Debt / FCF = 7.77 (Net Debt 3.03b / FCF TTM 390.0m)
Total Stockholder Equity = 5.00b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.06% (Net Income 716.0m / Total Assets 20.6b)
RoE = 14.33% (Net Income TTM 716.0m / Total Stockholder Equity 5.00b)
RoCE = 32.53% (EBIT 1.92b / Capital Employed (Equity 5.00b + L.T.Debt 902.0m))
RoIC = 14.65% (NOPAT 1.43b / Invested Capital 9.74b)
WACC = 5.19% (E(47.6b)/V(50.8b) * Re(5.37%) + D(3.28b)/V(50.8b) * Rd(3.56%) * (1-Tc(0.26)))
Discount Rate = 5.37% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 35.20 | Cagr: -0.02%
[DCF] Terminal Value 75.61% ; FCFF base≈388.0m ; Y1≈393.8m ; Y5≈426.2m
[DCF] Fair Price = 76.83 (EV 6.61b - Net Debt 3.03b = Equity 3.59b / Shares 46.7m; r=8.35% [WACC [floored]]; 5y FCF grow 1.30% → 2.50% )
EPS Correlation: 97.32 | EPS CAGR: 41.70% | SUE: 1.04 | # QB: 1
Revenue Correlation: 86.00 | Revenue CAGR: 17.10% | SUE: 0.53 | # QB: 0
EPS current Quarter (2026-09-30): EPS=7.00 | Chg30d=+5.18% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=37.27 | Chg30d=+0.17% | Revisions=-12% | GrowthEPS=+51.7% | GrowthRev=+40.2%
EPS next Year (2027-12-31): EPS=52.99 | Chg30d=-0.97% | Revisions=-44% | GrowthEPS=+42.2% | GrowthRev=+32.8%
[Analyst] Revisions Ratio: -40% (up=3, down=9)