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HENSOLDT AG (HAG.DE) Stock Fundamental Analysis

FRA:HAG - Deutsche Boerse Ag - DE000HAG0005 - Common Stock - Currency: EUR

64.65  +0.75 (+1.17%)

Fundamental Rating

3

Overall HAG gets a fundamental rating of 3 out of 10. We evaluated HAG against 40 industry peers in the Aerospace & Defense industry. Both the profitability and financial health of HAG have multiple concerns. While showing a medium growth rate, HAG is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year HAG was profitable.
In the past year HAG had a positive cash flow from operations.
In multiple years HAG reported negative net income over the last 5 years.
Of the past 5 years HAG 4 years had a positive operating cash flow.
HAG.DE Yearly Net Income VS EBIT VS OCF VS FCFHAG.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 0 100M 200M

1.2 Ratios

With a Return On Assets value of 0.23%, HAG is not doing good in the industry: 65.00% of the companies in the same industry are doing better.
HAG has a Return On Equity of 1.41%. This is in the lower half of the industry: HAG underperforms 62.50% of its industry peers.
Looking at the Return On Invested Capital, with a value of 4.10%, HAG is doing worse than 67.50% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for HAG is below the industry average of 8.80%.
Industry RankSector Rank
ROA 0.23%
ROE 1.41%
ROIC 4.1%
ROA(3y)2.09%
ROA(5y)0.86%
ROE(3y)11.69%
ROE(5y)3.95%
ROIC(3y)5.08%
ROIC(5y)4.06%
HAG.DE Yearly ROA, ROE, ROICHAG.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 0 10 -10 20 30

1.3 Margins

The Profit Margin of HAG (0.35%) is worse than 65.00% of its industry peers.
HAG's Operating Margin of 6.33% is on the low side compared to the rest of the industry. HAG is outperformed by 62.50% of its industry peers.
HAG's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 22.04%, HAG is in line with its industry, outperforming 50.00% of the companies in the same industry.
In the last couple of years the Gross Margin of HAG has grown nicely.
Industry RankSector Rank
OM 6.33%
PM (TTM) 0.35%
GM 22.04%
OM growth 3Y14.19%
OM growth 5Y34.16%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.13%
GM growth 5Y4.17%
HAG.DE Yearly Profit, Operating, Gross MarginsHAG.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 0 5 -5 10 15 20

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2

2. Health

2.1 Basic Checks

HAG has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
HAG has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
HAG.DE Yearly Shares OutstandingHAG.DE Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M 100M
HAG.DE Yearly Total Debt VS Total AssetsHAG.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 1B 2B 3B

2.2 Solvency

An Altman-Z score of 2.32 indicates that HAG is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a Altman-Z score value of 2.32, HAG perfoms like the industry average, outperforming 60.00% of the companies in the same industry.
The Debt to FCF ratio of HAG is 20.89, which is on the high side as it means it would take HAG, 20.89 years of fcf income to pay off all of its debts.
HAG has a Debt to FCF ratio of 20.89. This is in the lower half of the industry: HAG underperforms 67.50% of its industry peers.
HAG has a Debt/Equity ratio of 1.88. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of HAG (1.88) is worse than 70.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.88
Debt/FCF 20.89
Altman-Z 2.32
ROIC/WACC0.58
WACC7.1%
HAG.DE Yearly LT Debt VS Equity VS FCFHAG.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 0 500M 1B

2.3 Liquidity

HAG has a Current Ratio of 1.26. This is a normal value and indicates that HAG is financially healthy and should not expect problems in meeting its short term obligations.
HAG's Current ratio of 1.26 is fine compared to the rest of the industry. HAG outperforms 67.50% of its industry peers.
HAG has a Quick Ratio of 1.26. This is a bad value and indicates that HAG is not financially healthy enough and could expect problems in meeting its short term obligations.
HAG has a Quick ratio of 0.77. This is comparable to the rest of the industry: HAG outperforms 60.00% of its industry peers.
Industry RankSector Rank
Current Ratio 1.26
Quick Ratio 0.77
HAG.DE Yearly Current Assets VS Current LiabilitesHAG.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 67.82% over the past year.
Measured over the past years, HAG shows a very strong growth in Earnings Per Share. The EPS has been growing by 23.77% on average per year.
EPS 1Y (TTM)67.82%
EPS 3Y23.77%
EPS 5YN/A
EPS Q2Q%64.84%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%21.38%

3.2 Future

HAG is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 21.57% yearly.
The Revenue is expected to grow by 13.33% on average over the next years. This is quite good.
EPS Next Y30.8%
EPS Next 2Y25.5%
EPS Next 3Y25.2%
EPS Next 5Y21.57%
Revenue Next Year14.12%
Revenue Next 2Y12.94%
Revenue Next 3Y12.94%
Revenue Next 5Y13.33%

3.3 Evolution

The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
HAG.DE Yearly Revenue VS EstimatesHAG.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2B 4B 6B
HAG.DE Yearly EPS VS EstimatesHAG.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4

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1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 44.28, which means the current valuation is very expensive for HAG.
The rest of the industry has a similar Price/Earnings ratio as HAG.
The average S&P500 Price/Earnings ratio is at 28.79. HAG is valued rather expensively when compared to this.
With a Price/Forward Earnings ratio of 33.85, HAG can be considered very expensive at the moment.
60.00% of the companies in the same industry are cheaper than HAG, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of HAG to the average of the S&P500 Index (21.38), we can say HAG is valued expensively.
Industry RankSector Rank
PE 44.28
Fwd PE 33.85
HAG.DE Price Earnings VS Forward Price EarningsHAG.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, HAG is valued a bit more expensive than 62.50% of the companies in the same industry.
HAG's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. HAG is more expensive than 65.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 113.14
EV/EBITDA 26.31
HAG.DE Per share dataHAG.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
HAG's earnings are expected to grow with 25.20% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.44
PEG (5Y)N/A
EPS Next 2Y25.5%
EPS Next 3Y25.2%

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1

5. Dividend

5.1 Amount

With a yearly dividend of 0.78%, HAG is not a good candidate for dividend investing.
HAG's Dividend Yield is comparable with the industry average which is at 1.38.
Compared to an average S&P500 Dividend Yield of 2.47, HAG's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.78%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years2
Div Non Decr Years3
HAG.DE Yearly Dividends per shareHAG.DE Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 0 0 0 0 0

5.3 Sustainability

460.00% of the earnings are spent on dividend by HAG. This is not a sustainable payout ratio.
DP460%
EPS Next 2Y25.5%
EPS Next 3Y25.2%
HAG.DE Yearly Income VS Free CF VS DividendHAG.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2018 2019 2020 2021 2022 2023 0 50M -50M 100M 150M
HAG.DE Dividend Payout.HAG.DE Dividend Payout, showing the Payout Ratio.HAG.DE Dividend Payout.PayoutRetained Earnings

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HENSOLDT AG

FRA:HAG (4/25/2025, 7:00:00 PM)

64.65

+0.75 (+1.17%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)03-27 2025-03-27/bmo
Earnings (Next)05-07 2025-05-07
Inst Owners27.39%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap7.47B
Analysts66.25
Price Target60.12 (-7.01%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.78%
Yearly Dividend0.29
Dividend Growth(5Y)N/A
DP460%
Div Incr Years2
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-157.63%
Min EPS beat(2)-258.42%
Max EPS beat(2)-56.84%
EPS beat(4)0
Avg EPS beat(4)-215.78%
Min EPS beat(4)-529.04%
Max EPS beat(4)-18.83%
EPS beat(8)1
Avg EPS beat(8)-229.74%
EPS beat(12)2
Avg EPS beat(12)-163.44%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-3.09%
Min Revenue beat(2)-6.11%
Max Revenue beat(2)-0.07%
Revenue beat(4)0
Avg Revenue beat(4)-3.5%
Min Revenue beat(4)-6.44%
Max Revenue beat(4)-0.07%
Revenue beat(8)2
Avg Revenue beat(8)5.11%
Revenue beat(12)5
Avg Revenue beat(12)18.86%
Revenue beat(16)8
Avg Revenue beat(16)21.93%
PT rev (1m)13.49%
PT rev (3m)46.54%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.81%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-6.43%
Revenue NY rev (1m)-0.82%
Revenue NY rev (3m)-1.58%
Valuation
Industry RankSector Rank
PE 44.28
Fwd PE 33.85
P/S 2.64
P/FCF 113.14
P/OCF 30.98
P/B 10.5
P/tB N/A
EV/EBITDA 26.31
EPS(TTM)1.46
EY2.26%
EPS(NY)1.91
Fwd EY2.95%
FCF(TTM)0.57
FCFY0.88%
OCF(TTM)2.09
OCFY3.23%
SpS24.48
BVpS6.16
TBVpS-9.34
PEG (NY)1.44
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.23%
ROE 1.41%
ROCE 6.61%
ROIC 4.1%
ROICexc 4.74%
ROICexgc 20.19%
OM 6.33%
PM (TTM) 0.35%
GM 22.04%
FCFM 2.33%
ROA(3y)2.09%
ROA(5y)0.86%
ROE(3y)11.69%
ROE(5y)3.95%
ROIC(3y)5.08%
ROIC(5y)4.06%
ROICexc(3y)7.51%
ROICexc(5y)5.95%
ROICexgc(3y)48.58%
ROICexgc(5y)N/A
ROCE(3y)8.2%
ROCE(5y)6.56%
ROICexcg growth 3YN/A
ROICexcg growth 5Y43.67%
ROICexc growth 3Y19.22%
ROICexc growth 5Y46.59%
OM growth 3Y14.19%
OM growth 5Y34.16%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.13%
GM growth 5Y4.17%
F-Score3
Asset Turnover0.65
Health
Industry RankSector Rank
Debt/Equity 1.88
Debt/FCF 20.89
Debt/EBITDA 4.15
Cap/Depr 122.38%
Cap/Sales 6.19%
Interest Coverage 2.89
Cash Conversion 74.84%
Profit Quality 660%
Current Ratio 1.26
Quick Ratio 0.77
Altman-Z 2.32
F-Score3
WACC7.1%
ROIC/WACC0.58
Cap/Depr(3y)91.95%
Cap/Depr(5y)83.72%
Cap/Sales(3y)6.24%
Cap/Sales(5y)6.8%
Profit Quality(3y)262.34%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)67.82%
EPS 3Y23.77%
EPS 5YN/A
EPS Q2Q%64.84%
EPS Next Y30.8%
EPS Next 2Y25.5%
EPS Next 3Y25.2%
EPS Next 5Y21.57%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%21.38%
Revenue Next Year14.12%
Revenue Next 2Y12.94%
Revenue Next 3Y12.94%
Revenue Next 5Y13.33%
EBIT growth 1Y-14.76%
EBIT growth 3Y31.59%
EBIT growth 5Y48.54%
EBIT Next Year66.77%
EBIT Next 3Y32.66%
EBIT Next 5Y24.97%
FCF growth 1Y-67.77%
FCF growth 3Y16.07%
FCF growth 5Y93.57%
OCF growth 1Y-20.07%
OCF growth 3Y11.12%
OCF growth 5Y32.38%