(RHM) Rheinmetall - XETRA
Sector: Industrials | Industry: Aerospace & Defense | Exchange: XETRA (Germany) | Market Cap: 56.111m EUR | Total Return: -31.6% in 12m
Avg Turnover: 232M
EPS Trend: 96.9%
Qual. Beats: 0
Rev. Trend: 89.8%
Qual. Beats: -2
Warnings
Below Avwap Earnings
Tailwinds
Confidence
Rheinmetall AG is a Düsseldorf-based industrial group specializing in security and mobility technologies across global markets. The company operates through three primary segments: Vehicle Systems, Weapon and Ammunition, and Electronic Solutions. Its portfolio encompasses armored combat vehicles, tactical logistics, large-caliber weaponry, and sophisticated electronic defense systems, including radar and cyberspace protection.
The business model relies heavily on long-term government defense contracts, which provide high revenue visibility but are subject to stringent regulatory oversight and geopolitical shifts. As a Tier 1 supplier in the defense sector, Rheinmetall integrates hardware with software-driven Electronic Solutions to meet the increasing demand for networked battlefield capabilities. Investors can further examine the companys valuation metrics and growth drivers on ValueRay.
The company also maintains a significant aftermarket presence, providing maintenance, repair, and simulation training for military and civil applications. This service-oriented segment generates recurring revenue streams that complement the cyclical nature of heavy vehicle and ammunition production.
- European defense budget increases drive long-term order backlog growth
- Weapon and ammunition production expansion boosts segment revenue margins
- NATO procurement cycles accelerate demand for armored vehicle systems
- Supply chain constraints for raw materials impact production delivery timelines
- Geopolitical instability in Eastern Europe sustains elevated defense spending levels
| Net Income: 723.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -5.70 > 1.0 |
| NWC/Revenue: 5.35% < 20% (prev 14.08%; Δ -8.73% < -1%) |
| CFO/TA 0.09 > 3% & CFO 1.71b > Net Income 723.0m |
| Net Debt (1.13b) to EBITDA (2.17b): 0.52 < 3 |
| Current Ratio: 1.05 > 1.5 & < 3 |
| Outstanding Shares: last quarter (46.7m) vs 12m ago 0.0% < -2% |
| Gross Margin: 45.88% > 18% (prev 44.42%; Δ 1.46% > 0.5%) |
| Asset Turnover: 55.84% > 50% (prev 71.44%; Δ -15.60% > 0%) |
| Interest Coverage Ratio: 15.17 > 6 (EBIT TTM 1.68b / Interest Expense TTM 111.0m) |
| A: 0.03 (Total Current Assets 11.9b - Total Current Liabilities 11.4b) / Total Assets 19.6b |
| B: 0.19 (Retained Earnings 3.67b / Total Assets 19.6b) |
| C: 0.10 (EBIT TTM 1.68b / Avg Total Assets 17.1b) |
| D: 0.39 (Book Value of Equity 5.33b / Total Liabilities 13.6b) |
| Altman-Z'' = 1.85 = BBB |
| DSRI: 1.29 (Receivables 2.96b/2.52b, Revenue 9.57b/10.5b) |
| GMI: 0.97 (GM 44.42% / 45.88%) |
| AQI: 1.02 (AQ_t 0.26 / AQ_t-1 0.26) |
| SGI: 0.91 (Revenue 9.57b / 10.5b) |
| TATA: -0.05 (NI 723.0m - CFO 1.71b) / TA 19.6b) |
| Beneish M = -2.87 (Cap -4..+1) = A |
As of June 19, 2026, the stock is trading at EUR 1170.20 with a total of 197,558 shares traded.
Over the past week, the price has changed by -2.26%,
over one month by -0.15%,
over three months by -27.71% and
over the past year by -31.62%.
Rheinmetall has no consensus analysts rating.
P/E Trailing = 53.1804
P/E Forward = 35.461
P/S = 5.5704
P/B = 10.5175
P/EG = 0.6277
Revenue TTM = 9.57b EUR
EBIT TTM = 1.68b EUR
EBITDA TTM = 2.17b EUR
Long Term Debt = 902.0m EUR (from longTermDebt, last fiscal year)
Short Term Debt = 1.10b EUR (from shortTermDebt, last quarter)
Debt = 2.46b EUR (from shortLongTermDebtTotal, last quarter) + Leases 306.0m
Net Debt = 1.13b EUR (calculated: Debt 2.46b - CCE 1.33b)
Enterprise Value = 57.2b EUR (56.1b + Debt 2.46b - CCE 1.33b)
Interest Coverage Ratio = 15.17 (Ebit TTM 1.68b / Interest Expense TTM 111.0m)
EV/FCF = 67.99x (Enterprise Value 57.2b / FCF TTM 842.0m)
FCF Yield = 1.47% (FCF TTM 842.0m / Enterprise Value 57.2b)
FCF Margin = 8.80% (FCF TTM 842.0m / Revenue TTM 9.57b)
Net Margin = 7.56% (Net Income TTM 723.0m / Revenue TTM 9.57b)
Gross Margin = 45.88% ((Revenue TTM 9.57b - Cost of Revenue TTM 5.18b) / Revenue TTM)
Gross Margin QoQ = 21.88% (prev 85.37%)
Tobins Q-Ratio = 2.92 (Enterprise Value 57.2b / Total Assets 19.6b)
Interest Expense / Debt = 4.51% (Interest Expense 111.0m / Debt 2.46b)
Taxrate = 25.11% (398.0m / 1.58b)
NOPAT = 1.26b (EBIT 1.68b * (1 - 25.11%))
Current Ratio = 1.05 (Total Current Assets 11.9b / Total Current Liabilities 11.4b)
Debt / Equity = 0.46 (Debt 2.46b / totalStockholderEquity, last quarter 5.33b)
Debt / EBITDA = 0.52 (Net Debt 1.13b / EBITDA 2.17b)
Debt / FCF = 1.35 (Net Debt 1.13b / FCF TTM 842.0m)
Total Stockholder Equity = 4.87b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.22% (Net Income 723.0m / Total Assets 19.6b)
RoE = 14.85% (Net Income TTM 723.0m / Total Stockholder Equity 4.87b)
RoCE = 29.18% (EBIT 1.68b / Capital Employed (Equity 4.87b + L.T.Debt 902.0m))
RoIC = 14.23% (NOPAT 1.26b / Invested Capital 8.86b)
WACC = 5.93% (E(56.1b)/V(58.6b) * Re(6.04%) + D(2.46b)/V(58.6b) * Rd(4.51%) * (1-Tc(0.25)))
Discount Rate = 6.04% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 22.47 | Cagr: 0.32%
[DCF] Terminal Value 73.10% ; FCFF base≈1.09b ; Y1≈957.3m ; Y5≈773.4m
[DCF] Fair Price = 242.4 (EV 12.4b - Net Debt 1.13b = Equity 11.3b / Shares 46.5m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 96.93 | EPS CAGR: 37.52% | SUE: 0.08 | # QB: 0
Revenue Correlation: 89.80 | Revenue CAGR: 19.94% | SUE: -1.37 | # QB: -2
EPS current Quarter (2026-06-30): EPS=6.72 | Chg30d=+35.81% | Revisions=+20% | Analysts=2
EPS next Quarter (2026-09-30): EPS=6.77 | Chg30d=-7.69% | Revisions=-20% | Analysts=1
EPS current Year (2026-12-31): EPS=37.36 | Chg30d=+0.61% | Revisions=-29% | GrowthEPS=+52.1% | GrowthRev=+42.4%
EPS next Year (2027-12-31): EPS=54.67 | Chg30d=-0.51% | Revisions=-47% | GrowthEPS=+46.3% | GrowthRev=+34.3%
[Analyst] Revisions Ratio: -47%