RHEINMETALL AG (RHM.DE) Fundamental Analysis & Valuation

FRA:RHM • DE0007030009

1592.5 EUR
+45.5 (+2.94%)
Last: Mar 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This RHM.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

Taking everything into account, RHM scores 6 out of 10 in our fundamental rating. RHM was compared to 49 industry peers in the Aerospace & Defense industry. While RHM has a great profitability rating, there are some minor concerns on its financial health. RHM is valued quite expensively, but it does show have an excellent growth rating.


Dividend Valuation Growth Profitability Health

8

1. RHM.DE Profitability Analysis

1.1 Basic Checks

  • In the past year RHM was profitable.
  • In the past year RHM had a positive cash flow from operations.
  • RHM had positive earnings in 4 of the past 5 years.
  • In the past 5 years RHM always reported a positive cash flow from operatings.
RHM.DE Yearly Net Income VS EBIT VS OCF VS FCFRHM.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B

1.2 Ratios

  • With a decent Return On Assets value of 5.36%, RHM is doing good in the industry, outperforming 71.43% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 17.96%, RHM is in the better half of the industry, outperforming 65.31% of the companies in the same industry.
  • With an excellent Return On Invested Capital value of 14.80%, RHM belongs to the best of the industry, outperforming 83.67% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for RHM is in line with the industry average of 9.91%.
  • The last Return On Invested Capital (14.80%) for RHM is above the 3 year average (11.89%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 5.36%
ROE 17.96%
ROIC 14.8%
ROA(3y)5.14%
ROA(5y)3.76%
ROE(3y)16.88%
ROE(5y)12.25%
ROIC(3y)11.89%
ROIC(5y)10.79%
RHM.DE Yearly ROA, ROE, ROICRHM.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15

1.3 Margins

  • Looking at the Profit Margin, with a value of 7.63%, RHM is in the better half of the industry, outperforming 69.39% of the companies in the same industry.
  • In the last couple of years the Profit Margin of RHM has grown nicely.
  • The Operating Margin of RHM (13.41%) is better than 77.55% of its industry peers.
  • RHM's Operating Margin has improved in the last couple of years.
  • With an excellent Gross Margin value of 52.12%, RHM belongs to the best of the industry, outperforming 87.76% of the companies in the same industry.
  • In the last couple of years the Gross Margin of RHM has remained more or less at the same level.
Industry RankSector Rank
OM 13.41%
PM (TTM) 7.63%
GM 52.12%
OM growth 3Y9.06%
OM growth 5Y12.72%
PM growth 3Y12.65%
PM growth 5Y6.54%
GM growth 3Y-1.05%
GM growth 5Y1.27%
RHM.DE Yearly Profit, Operating, Gross MarginsRHM.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30 40 50

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4

2. RHM.DE Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so RHM is still creating some value.
  • Compared to 1 year ago, RHM has about the same amount of shares outstanding.
  • Compared to 5 years ago, RHM has more shares outstanding
  • Compared to 1 year ago, RHM has a worse debt to assets ratio.
RHM.DE Yearly Shares OutstandingRHM.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
RHM.DE Yearly Total Debt VS Total AssetsRHM.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B

2.2 Solvency

  • RHM has an Altman-Z score of 5.39. This indicates that RHM is financially healthy and has little risk of bankruptcy at the moment.
  • RHM has a Altman-Z score of 5.39. This is amongst the best in the industry. RHM outperforms 83.67% of its industry peers.
  • The Debt to FCF ratio of RHM is 25.05, which is on the high side as it means it would take RHM, 25.05 years of fcf income to pay off all of its debts.
  • With a Debt to FCF ratio value of 25.05, RHM is not doing good in the industry: 71.43% of the companies in the same industry are doing better.
  • RHM has a Debt/Equity ratio of 0.26. This is a healthy value indicating a solid balance between debt and equity.
  • RHM has a Debt to Equity ratio of 0.26. This is in the better half of the industry: RHM outperforms 79.59% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 25.05
Altman-Z 5.39
ROIC/WACC1.76
WACC8.41%
RHM.DE Yearly LT Debt VS Equity VS FCFRHM.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B

2.3 Liquidity

  • A Current Ratio of 1.14 indicates that RHM should not have too much problems paying its short term obligations.
  • RHM has a Current ratio (1.14) which is comparable to the rest of the industry.
  • A Quick Ratio of 0.49 indicates that RHM may have some problems paying its short term obligations.
  • The Quick ratio of RHM (0.49) is worse than 83.67% of its industry peers.
Industry RankSector Rank
Current Ratio 1.14
Quick Ratio 0.49
RHM.DE Yearly Current Assets VS Current LiabilitesRHM.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

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9

3. RHM.DE Growth Analysis

3.1 Past

  • RHM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 38.07%, which is quite impressive.
  • Measured over the past years, RHM shows a quite strong growth in Earnings Per Share. The EPS has been growing by 15.30% on average per year.
  • RHM shows a strong growth in Revenue. In the last year, the Revenue has grown by 24.61%.
  • RHM shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.29% yearly.
EPS 1Y (TTM)38.07%
EPS 3Y33.06%
EPS 5Y15.3%
EPS Q2Q%8.52%
Revenue 1Y (TTM)24.61%
Revenue growth 3Y19.89%
Revenue growth 5Y9.29%
Sales Q2Q%13.33%

3.2 Future

  • RHM is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 46.47% yearly.
  • Based on estimates for the next years, RHM will show a very strong growth in Revenue. The Revenue will grow by 26.29% on average per year.
EPS Next Y71.24%
EPS Next 2Y62.85%
EPS Next 3Y58.18%
EPS Next 5Y46.47%
Revenue Next Year10.64%
Revenue Next 2Y21.94%
Revenue Next 3Y26.73%
Revenue Next 5Y26.29%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
RHM.DE Yearly Revenue VS EstimatesRHM.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 10B 20B 30B 40B
RHM.DE Yearly EPS VS EstimatesRHM.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 20 40 60 80 100

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2

4. RHM.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 82.86, RHM can be considered very expensive at the moment.
  • Based on the Price/Earnings ratio, RHM is valued a bit more expensive than 65.31% of the companies in the same industry.
  • RHM is valuated expensively when we compare the Price/Earnings ratio to 26.29, which is the current average of the S&P500 Index.
  • RHM is valuated quite expensively with a Price/Forward Earnings ratio of 37.93.
  • RHM's Price/Forward Earnings is on the same level as the industry average.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.57, RHM is valued quite expensively.
Industry RankSector Rank
PE 82.86
Fwd PE 37.93
RHM.DE Price Earnings VS Forward Price EarningsRHM.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • 63.27% of the companies in the same industry are cheaper than RHM, based on the Enterprise Value to EBITDA ratio.
  • RHM's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. RHM is more expensive than 73.47% of the companies in the same industry.
Industry RankSector Rank
P/FCF 755.2
EV/EBITDA 37.34
RHM.DE Per share dataRHM.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 50 100 150 200

4.3 Compensation for Growth

  • RHM's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The excellent profitability rating of RHM may justify a higher PE ratio.
  • RHM's earnings are expected to grow with 58.18% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.16
PEG (5Y)5.42
EPS Next 2Y62.85%
EPS Next 3Y58.18%

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4

5. RHM.DE Dividend Analysis

5.1 Amount

  • RHM has a yearly dividend return of 0.48%, which is pretty low.
  • RHM's Dividend Yield is comparable with the industry average which is at 0.77.
  • Compared to an average S&P500 Dividend Yield of 1.82, RHM's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.48%

5.2 History

  • The dividend of RHM is nicely growing with an annual growth rate of 22.25%!
Dividend Growth(5Y)22.25%
Div Incr Years1
Div Non Decr Years4
RHM.DE Yearly Dividends per shareRHM.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 1 2 3 4 5

5.3 Sustainability

  • RHM pays out 43.98% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • RHM's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP43.98%
EPS Next 2Y62.85%
EPS Next 3Y58.18%
RHM.DE Yearly Income VS Free CF VS DividendRHM.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M
RHM.DE Dividend Payout.RHM.DE Dividend Payout, showing the Payout Ratio.RHM.DE Dividend Payout.PayoutRetained Earnings

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RHM.DE Fundamentals: All Metrics, Ratios and Statistics

RHEINMETALL AG

FRA:RHM (3/6/2026, 7:00:00 PM)

1592.5

+45.5 (+2.94%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)11-06
Earnings (Next)03-11
Inst Owners45.42%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap73.25B
Revenue(TTM)11.00B
Net Income(TTM)839.00M
Analysts82.22
Price Target2171.58 (36.36%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.48%
Yearly Dividend5.71
Dividend Growth(5Y)22.25%
DP43.98%
Div Incr Years1
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-13.21%
Min EPS beat(2)-23.31%
Max EPS beat(2)-3.11%
EPS beat(4)0
Avg EPS beat(4)-16.91%
Min EPS beat(4)-23.39%
Max EPS beat(4)-3.11%
EPS beat(8)0
Avg EPS beat(8)-24.24%
EPS beat(12)2
Avg EPS beat(12)-13.02%
EPS beat(16)4
Avg EPS beat(16)-12%
Revenue beat(2)0
Avg Revenue beat(2)-3.34%
Min Revenue beat(2)-3.95%
Max Revenue beat(2)-2.73%
Revenue beat(4)1
Avg Revenue beat(4)-0.33%
Min Revenue beat(4)-6.12%
Max Revenue beat(4)11.46%
Revenue beat(8)3
Avg Revenue beat(8)-0.93%
Revenue beat(12)3
Avg Revenue beat(12)-1.06%
Revenue beat(16)4
Avg Revenue beat(16)-0.92%
PT rev (1m)-2.73%
PT rev (3m)-1.57%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0.37%
EPS NY rev (1m)0%
EPS NY rev (3m)-7.16%
Revenue NQ rev (1m)-18.59%
Revenue NQ rev (3m)-19.06%
Revenue NY rev (1m)-10.18%
Revenue NY rev (3m)-12.21%
Valuation
Industry RankSector Rank
PE 82.86
Fwd PE 37.93
P/S 6.66
P/FCF 755.2
P/OCF 72.46
P/B 15.68
P/tB 38.43
EV/EBITDA 37.34
EPS(TTM)19.22
EY1.21%
EPS(NY)41.98
Fwd EY2.64%
FCF(TTM)2.11
FCFY0.13%
OCF(TTM)21.98
OCFY1.38%
SpS239.09
BVpS101.57
TBVpS41.43
PEG (NY)1.16
PEG (5Y)5.42
Graham Number209.58
Profitability
Industry RankSector Rank
ROA 5.36%
ROE 17.96%
ROCE 19.7%
ROIC 14.8%
ROICexc 15.99%
ROICexgc 26.61%
OM 13.41%
PM (TTM) 7.63%
GM 52.12%
FCFM 0.88%
ROA(3y)5.14%
ROA(5y)3.76%
ROE(3y)16.88%
ROE(5y)12.25%
ROIC(3y)11.89%
ROIC(5y)10.79%
ROICexc(3y)13.93%
ROICexc(5y)13.29%
ROICexgc(3y)21.41%
ROICexgc(5y)19.25%
ROCE(3y)16.31%
ROCE(5y)14.66%
ROICexgc growth 3Y12.63%
ROICexgc growth 5Y8.12%
ROICexc growth 3Y2.66%
ROICexc growth 5Y3.61%
OM growth 3Y9.06%
OM growth 5Y12.72%
PM growth 3Y12.65%
PM growth 5Y6.54%
GM growth 3Y-1.05%
GM growth 5Y1.27%
F-Score5
Asset Turnover0.7
Health
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 25.05
Debt/EBITDA 0.61
Cap/Depr 190.02%
Cap/Sales 8.31%
Interest Coverage 210.71
Cash Conversion 51.69%
Profit Quality 11.56%
Current Ratio 1.14
Quick Ratio 0.49
Altman-Z 5.39
F-Score5
WACC8.41%
ROIC/WACC1.76
Cap/Depr(3y)150.34%
Cap/Depr(5y)120.05%
Cap/Sales(3y)6.17%
Cap/Sales(5y)5.53%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)38.07%
EPS 3Y33.06%
EPS 5Y15.3%
EPS Q2Q%8.52%
EPS Next Y71.24%
EPS Next 2Y62.85%
EPS Next 3Y58.18%
EPS Next 5Y46.47%
Revenue 1Y (TTM)24.61%
Revenue growth 3Y19.89%
Revenue growth 5Y9.29%
Sales Q2Q%13.33%
Revenue Next Year10.64%
Revenue Next 2Y21.94%
Revenue Next 3Y26.73%
Revenue Next 5Y26.29%
EBIT growth 1Y32.76%
EBIT growth 3Y30.76%
EBIT growth 5Y23.18%
EBIT Next Year68.36%
EBIT Next 3Y49.97%
EBIT Next 5Y41.95%
FCF growth 1Y44.78%
FCF growth 3Y33.1%
FCF growth 5Y25.85%
OCF growth 1Y120.26%
OCF growth 3Y35.59%
OCF growth 5Y23.4%

RHEINMETALL AG / RHM.DE FAQ

What is the fundamental rating for RHM stock?

ChartMill assigns a fundamental rating of 6 / 10 to RHM.DE.


What is the valuation status for RHM stock?

ChartMill assigns a valuation rating of 2 / 10 to RHEINMETALL AG (RHM.DE). This can be considered as Overvalued.


Can you provide the profitability details for RHEINMETALL AG?

RHEINMETALL AG (RHM.DE) has a profitability rating of 8 / 10.


What is the financial health of RHEINMETALL AG (RHM.DE) stock?

The financial health rating of RHEINMETALL AG (RHM.DE) is 4 / 10.


Can you provide the dividend sustainability for RHM stock?

The dividend rating of RHEINMETALL AG (RHM.DE) is 4 / 10 and the dividend payout ratio is 43.98%.