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Rheinmetall AG (RNMBF)

Overvalued
IndustrialsAerospace & DefenseGermany

Fundamental

61

Price

$945.80

Market Cap

$46.20B

Part 1 · What the company is worth

Overview

Rheinmetall AG provides mobility and security technologies in Germany, Rest of Europe, North, Middle, and South America, Asia and the Near East, and internationally. The company operates through the Vehicle Systems, Weapon and Ammunition, and Electronic Solutions segments. Its Vehicle Systems segment offers combat, logistics, support, and special vehicles, including armored tracked vehicles, CBRN protection systems, artillery, turret systems, and wheeled logistics and tactical vehicles. The Weapon and Ammunition segment provides firepower and protection solutions, such as weapons and ammunition, protection systems, propellants, and international projects and services. Its Electronic Solutions segment offers a chain of systems network, such as sensors, networking platforms, automated connected effectors for soldiers, cyberspace protection solutions, and training and simulation solutions. The company's products include air defense, soldier, and fire control systems; radar technology; and command, control and reconnaissance systems, as well as simulations for the army, air force, navy, and civil applications. It also engages in the aftermarket activities. The company was formerly known as Rheinmetall Berlin AG and changed its name to Rheinmetall AG in 1996. Rheinmetall AG was founded in 1889 and is headquartered in Düsseldorf, Germany.

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Direct competitors

Who this company fights with for the same customers

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No competitor list for this company yet.

Balance Sheet & Liquidity

Revenue

$10.43B

Trailing 12 months (through 6/30/2026)

Net Income

$715M

Trailing 12 months (through 6/30/2026)

Free Cash Flow

$643M

Total Equity

$4.97B

Total Liabilities

$2.98B

Current Ratio

1.00

Interest Coverage

-

Debt/EBITDA

1.29

Earnings Per Share

Revenue & Net Income

Free Cash Flow

Income Breakdown

Historical statement

Margins over time

Debt over time

How heavy the debt is

Growth grid

Growth — Revenue

Fair Value Estimation

General caseOvervalued

Fair Value

$768.41

Current Price

$945.80

Margin of Safety

-23.1%

Fair Value Range

$499.46 - $1037.35

Spread across the valuation methods used, not a statistically calibrated confidence interval.

Estimation Methods

Analyst price target:$1641.29
Discounted cash flow (DCF):$133.92
Earnings multiple (P/E):$544.45
Graham growth formula:$423.77
Earnings power value (EPV):$196.88
Justified P/B:$93.04
Dividend discount (Gordon):$70.33
P/FFO, funds from operations:Not enough data to compute it
Mid-cycle earnings:Not enough data to compute it
Revenue multiple:$635.37
Analyst Consensus:Strong Buy (25B / 3H / 1S)
Last Earnings Surprise:-4.29%

Valuation Metrics

P/E Ratio

38.02

ROE

25.7%

P/B Ratio

9.29

P/FCF

71.88

Gross Margin

52.2%

ROIC

16.4%

Profitability Radar

Value Creation (Economic Moat)

ROIC

16.4%

WACC

15.3%

ROIC − WACC

+1.1 pp

ROIC exceeds the cost of capital — the company is creating value for shareholders.

Fundamental Analysis Criteria

Passed (12)

  • Price CAGR 30.64%
  • ROIC 16.4%
  • Gross Margin 52.2%
  • Debt/Equity ratio
  • Positive Free Cash Flow
  • Current Ratio
  • Debt/EBITDA
  • ROE 14.4%
  • Revenue Growth 5Y 12.9%
  • Analyst Consensus 86% Buy
  • Earnings Quality (OCF/NI) 1.28
  • Net Margin Trend 10.3% vs 7.4%

Failed (6)

  • P/FCF 71.88
  • P/B Ratio 9.29
  • CapEx intensity
  • DCF valuation (Overvalued)
  • Earnings Surprise avg -26.5%
  • Piotroski F-Score 2/9

Unavailable (9)

  • EPS data insufficient
  • Dividend Payout NaN%
  • Operating Margin NaN%
  • Interest Coverage
  • Return on Tangible Assets
  • Low reliance on intangibles
  • Price below Graham Number
  • PEG Ratio (need PE > 0 and growth > 0)
  • Share Dilution (missing shares data)

Piotroski F-Score

2/9

Serious financial concerns

score
criteria

Earnings Quality

1.28

High quality: earnings backed by cash

Share Dilution

-

Buying back shares. Shareholder friendly

Institutional Holdings

No institutional filings reported for this company.

Governance

Executive Team

NameTitleAge
Mr. Armin Theodor PappergerChairman of the Executive Board & CEO62
Mr. Klaus Jürgen NeumannCFO & Member of Executive Board55
Mr. Rene GansaugeCOO & Member of Executive Board52
Dr. Vera SaalCHRO, Director of Labor Relations & Member of Executive Board47
Dirk WinkelsHead of Investor Relations-
Michael SalzmannChief Compliance Officer-
Dr. Rolf Giebeler MPA (Harvard)Representative Director of Law & General Counsel-
Dr. Philipp von BrandensteinHead of Corporate Communications-
Anika Giulia MarkerInvestor Relations Manager-

Audit Risk

10

Board Risk

2

Compensation Risk

5

Shareholder Rights Risk

10

Part 2 · The price and when to enter

This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Latest News

Recent headlines for RNMBF, sourced from Markets Gazette.

No recent news for RNMBF.