RHM Stock Analysis: Rheinmetall | XETRA
Aerospace & Defense | XETRA, Germany | Market Cap: 55.012m EUR | 12M Return: -31.1% | DE0007030009 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 239M
EPS Trend: 97.3%
Qual. Beats: 1
Rev. Trend: 86.0%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 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 German defense and mobility technology company headquartered in Düsseldorf, operating across three core segments: Vehicle Systems, Weapon and Ammunition, and Electronic Solutions. The Vehicle Systems segment produces combat, logistics, and support vehicles, including armored tracked and wheeled tactical vehicles, while the Weapon and Ammunition segment delivers firepower, protection systems, and propellants. The Electronic Solutions segment supplies sensors, networking platforms, soldier systems, radar technology, and command, control, and reconnaissance systems for military and civil applications.
The company serves army, air force, navy, and civil customers, and also generates revenue through aftermarket activities. Founded in 1889 and formerly known as Rheinmetall Berlin AG, the firm maintains operations across Germany, the rest of Europe, the Americas, Asia, and the Middle East. As a major European defense prime contractor, Rheinmetall primarily generates revenue through government defense contracts, a business model characterized by long product development cycles, high regulatory and certification barriers, and exposure to geopolitical defense spending trends.
- European defense spending surges on Ukraine war commitments
- Weapon and Ammunition order backlog hits record levels
- Vehicle Systems margins expand on Leopard and Boxer contracts
| 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 August 26, 2026, the stock is trading at EUR 1125.20 with a total of 121,753 shares traded. Over the past week, the price has changed by -7.31%, over one month by +8.44%, over three months by -9.52% and over the past year by -31.12%.
Current recommended Stop Loss: 1064.30 (which is 5.4% or 1.3 ATR below the current price).
Rheinmetall has no consensus analysts rating.
P/E Trailing = 45.1648
P/E Forward = 34.2466
P/S = 4.8201
P/B = 11.3952
P/EG = 0.6055
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 = 58.0b EUR (55.0b + Debt 3.28b - CCE 255.0m)
Interest Coverage Ratio = 16.40 (Ebit TTM 1.92b / Interest Expense TTM 117.0m)
EV/FCF = 148.8x (Enterprise Value 58.0b / FCF TTM 390.0m)
FCF Yield = 0.67% (FCF TTM 390.0m / Enterprise Value 58.0b)
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 = 2.81 (Enterprise Value 58.0b / 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 = 5.35% (E(55.0b)/V(58.3b) * Re(5.51%) + D(3.28b)/V(58.3b) * Rd(3.56%) * (1-Tc(0.26)))
Discount Rate = 5.51% (= 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=6.66 | Chg30d=-1.56% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=37.14 | Chg30d=-0.63% | Revisions=-73% | GrowthEPS=+51.2% | GrowthRev=+40.6%
EPS next Year (2027-12-31): EPS=53.51 | Chg30d=-0.53% | Revisions=-10% | GrowthEPS=+44.1% | GrowthRev=+34.1%
[Analyst] Revisions Ratio: -53% (up=3, down=13)