RHM Stock Analysis: Rheinmetall | XETRA
Aerospace & Defense | XETRA, Germany | Market Cap: 48.292m EUR | 12M Return: -36.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 225M
EPS Trend: 96.9%
Qual. Beats: 0
Rev. Trend: 89.8%
Qual. Beats: -2
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 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: 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 July 28, 2026, the stock is trading at EUR 1050.60 with a total of 197,116 shares traded. Over the past week, the price has changed by +6.09%, over one month by +8.21%, over three months by -21.15% and over the past year by -36.73%.
Current recommended Stop Loss: 989.00 (which is 5.9% or 1.3 ATR below the current price).
Rheinmetall has no consensus analysts rating.
P/E Trailing = 45.669
P/E Forward = 30.581
P/S = 4.7942
P/B = 9.0519
P/EG = 0.5405
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 = 49.4b EUR (48.3b + Debt 2.46b - CCE 1.33b)
Interest Coverage Ratio = 15.17 (Ebit TTM 1.68b / Interest Expense TTM 111.0m)
EV/FCF = 58.70x (Enterprise Value 49.4b / FCF TTM 842.0m)
FCF Yield = 1.70% (FCF TTM 842.0m / Enterprise Value 49.4b)
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 = 2.52 (Enterprise Value 49.4b / 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 = 6.09% (E(48.3b)/V(50.8b) * Re(6.23%) + D(2.46b)/V(50.8b) * Rd(4.51%) * (1-Tc(0.25)))
Discount Rate = 6.23% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 26.43 | 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=6.60 | Chg30d=-1.86% | Revisions=+25% | Analysts=2
EPS next Quarter (2026-09-30): EPS=6.77 | Chg30d=-7.69% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=37.38 | Chg30d=+0.04% | Revisions=-22% | GrowthEPS=+52.1% | GrowthRev=+41.2%
EPS next Year (2027-12-31): EPS=53.80 | Chg30d=-1.59% | Revisions=-62% | GrowthEPS=+43.9% | GrowthRev=+33.9%
[Analyst] Revisions Ratio: -48% (up=4, down=14)