Overview Dividends

(RHM) Rheinmetall - Ratings and Ratios

Exchange: XETRA • Country: Germany • Currency: EUR • Type: Common Stock • ISIN: DE0007030009

Combat Vehicles, Ammunition, Sensors, Hydrogen, Actuators

Aerospace & Defense
Market Cap in USD: 85,973m

IPO / Inception:
Return 12m vs S&P 500: 123%

EPS (Earnings per Share)

EPS CAGR: -8.53%
EPS Trend: 27.9%

Last SUE: -1.21
Qual. Beats: 0

Revenue

Rev. CAGR: 12.01%
Rev. Trend: 73.8%

Last SUE: -0.27
Qual. Beats: 0

Dividends

Dividend Yield	0.53%
Yield on Cost 5y	10.36%
Yield CAGR 5y	4.39%
Payout Consistency	87.3%
Payout Ratio	41.0%

Risk via 5d forecast
Volatility	39.2%
Value at Risk 5%th	61.1%
Relative Tail Risk	-5.38%

Reward TTM
Sharpe Ratio	2.00
Alpha	147.33
CAGR/Max DD	3.52

Character TTM
Hurst Exponent	0.409
Beta	-0.151
Beta Downside	-0.334

Drawdowns 3y
Max DD	27.43%
Mean DD	5.89%
Median DD	4.98%

Description: RHM Rheinmetall December 03, 2025

Rheinmetall AG (XETRA:RHM) is a German-based supplier of mobility and security technologies, operating globally across five segments: Vehicle Systems (armored and logistics vehicles, CBRN protection, artillery), Weapon & Ammunition (firearms, propellants, protection systems), Electronic Solutions (sensors, networking, cyber-defense, training simulators), Power Systems (e-mobility, hydrogen, thermal management, bearings) and assorted aftermarket services.

In FY 2023 the group generated €6.5 bn of revenue, with the Vehicle Systems and Weapon & Ammunition divisions contributing roughly 55 % of sales. The order backlog stood at about €3 bn, reflecting heightened European defense budgets (average 4 % YoY increase in 2023) and growing demand for digital battlefield solutions. R&D intensity remains near 6 % of revenue, supporting its push into autonomous and hydrogen-powered platforms.

Given the sector’s exposure to sovereign defense spending cycles and the company’s diversified product mix, analysts watch both the German-US defense spending outlook and the pace of e-mobility adoption as key drivers of future earnings. For a deeper dive into RHM’s valuation metrics and scenario analysis, check the ValueRay research hub.

Piotroski VR‑10 (Strict, 0-10) 6.0

Net Income (841.0m TTM) > 0 and > 6% of Revenue (6% = 659.9m TTM)

FCFTA 0.01 (>2.0%) and ΔFCFTA -6.43pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 10.04% (prev 17.19%; Δ -7.15pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.05 (>3.0%) and CFO 719.0m <= Net Income 841.0m (YES >=105%, WARN >=100%)

Net Debt (1.24b) to EBITDA (1.52b) ratio: 0.81 <= 3.0 (WARN <= 3.5)

Current Ratio 1.14 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (45.9m) change vs 12m ago 3.66% (target <= -2.0% for YES)

Gross Margin 52.12% (prev 29.98%; Δ 22.14pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 78.16% (prev 70.70%; Δ 7.46pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 8.97 (EBITDA TTM 1.52b / Interest Expense TTM 129.0m) >= 6 (WARN >= 3)

Altman Z'' 2.42

(A) 0.07 = (Total Current Assets 9.28b - Total Current Liabilities 8.17b) / Total Assets 15.66b

(B) 0.29 = Retained Earnings (Balance) 4.59b / Total Assets 15.66b

(D) 0.43 = Book Value of Equity 4.71b / Total Liabilities 10.99b

Total Rating: 2.42 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 76.68

1. Piotroski 6.0pt

2. FCF Yield 0.13%

3. FCF Margin 0.89%

4. Debt/Equity 0.52

5. Debt/Ebitda 0.81

6. ROIC - WACC (= 11.18)%

7. RoE 19.06%

8. Rev. Trend 73.81%

9. EPS Trend 27.89%

What is the price of RHM shares?

As of December 18, 2025, the stock is trading at EUR 1527.00 with a total of 163,926 shares traded.
Over the past week, the price has changed by -5.16%, over one month by -11.38%, over three months by -19.14% and over the past year by +150.45%.

Is RHM a buy, sell or hold?

Rheinmetall has no consensus analysts rating.

What are the forecasts/targets for the RHM price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	2203.9	44.3%
Analysts Target Price	-	-
ValueRay Target Price	2668.7	74.8%

RHM Fundamental Data Overview December 11, 2025

Market Cap USD = 85.97b (73.25b EUR * 1.1737 EUR.USD)
Market Cap EUR = 73.25b (73.25b EUR * 1.0 EUR.EUR)
P/E Trailing = 87.2674
P/E Forward = 39.6825
P/S = 6.6602
P/B = 14.6086
P/EG = 0.9139
Beta = 0.395
Revenue TTM = 11.00b EUR
EBIT TTM = 1.16b EUR
EBITDA TTM = 1.52b EUR
Long Term Debt = 1.20b EUR (from longTermDebt, last quarter)
Short Term Debt = 552.0m EUR (from shortTermDebt, last fiscal year)
Debt = 2.42b EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 1.24b EUR (from netDebt column, last fiscal year)
Enterprise Value = 75.12b EUR (73.25b + Debt 2.42b - CCE 557.0m)
Interest Coverage Ratio = 8.97 (Ebit TTM 1.16b / Interest Expense TTM 129.0m)
FCF Yield = 0.13% (FCF TTM 98.0m / Enterprise Value 75.12b)
FCF Margin = 0.89% (FCF TTM 98.0m / Revenue TTM 11.00b)
Net Margin = 7.65% (Net Income TTM 841.0m / Revenue TTM 11.00b)
Gross Margin = 52.12% ((Revenue TTM 11.00b - Cost of Revenue TTM 5.27b) / Revenue TTM)
Gross Margin QoQ = 50.76% (prev 53.42%)
Tobins Q-Ratio = 4.80 (Enterprise Value 75.12b / Total Assets 15.66b)
Interest Expense / Debt = 1.11% (Interest Expense 27.0m / Debt 2.42b)
Taxrate = 29.66% (86.0m / 290.0m)
NOPAT = 813.9m (EBIT 1.16b * (1 - 29.66%))
Current Ratio = 1.14 (Total Current Assets 9.28b / Total Current Liabilities 8.17b)
Debt / Equity = 0.52 (Debt 2.42b / totalStockholderEquity, last quarter 4.67b)
Debt / EBITDA = 0.81 (Net Debt 1.24b / EBITDA 1.52b)
Debt / FCF = 12.64 (Net Debt 1.24b / FCF TTM 98.0m)
Total Stockholder Equity = 4.41b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.37% (Net Income 841.0m / Total Assets 15.66b)
RoE = 19.06% (Net Income TTM 841.0m / Total Stockholder Equity 4.41b)
RoCE = 20.62% (EBIT 1.16b / Capital Employed (Equity 4.41b + L.T.Debt 1.20b))
RoIC = 16.49% (NOPAT 813.9m / Invested Capital 4.94b)
WACC = 5.31% (E(73.25b)/V(75.67b) * Re(5.46%) + D(2.42b)/V(75.67b) * Rd(1.11%) * (1-Tc(0.30)))
Discount Rate = 5.46% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -33.33 | Cagr: -0.50%
[DCF Debug] Terminal Value 79.01% ; FCFE base≈411.2m ; Y1≈432.4m ; Y5≈507.3m
Fair Price DCF = 199.3 (DCF Value 8.89b / Shares Outstanding 44.6m; 5y FCF grow 5.59% → 3.0% )
EPS Correlation: 27.89 | EPS CAGR: -8.53% | SUE: -1.21 | # QB: 0
Revenue Correlation: 73.81 | Revenue CAGR: 12.01% | SUE: -0.27 | # QB: 0
EPS next Quarter (2026-03-31): EPS=4.29 | Chg30d=+0.190 | Revisions Net=+1 | Analysts=1
EPS next Year (2026-12-31): EPS=42.68 | Chg30d=-1.099 | Revisions Net=-5 | Growth EPS=+47.6% | Growth Revenue=+34.8%

Additional Sources for RHM Stock

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