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Rheinmetall AG RHM.DE

DE · Deutsche Börse Xetra · XETR · stock · Industrials · website

Rheinmetall AG statistics & valuation

Market cap€54.3B
P / E78.1×
P / S5.5×
P / B10.8×
P / FCF38.4×
Net margin7.0%
FCF margin14.2%
Net cash€368.0M
Enterprise value USD$62.3B
Earnings yield EBIT/EV3.2%
Return on capital22.1%
Graham number -83.6%€191.40

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (€191.40); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
7.40% 7.50% 9.30% 7.00% 2022202320242025
Gross margin (%)
52.70% 54.90% 53.80% 52.40% 2022202320242025
Operating margin (%)
11.80% 11.90% 17.20% 17.10% 2022202320242025
Return on equity (%)
16.80% 16.10% 17.70% 13.90% 2022202320242025
Shares outstanding
46.7M 46.7M 46.7M 46.7M 2022202320242025
Net debt (€)
€427.0M €1.06B €1.24B -€368.0M 2022202320242025
Share buybacks (€)
2022202320242025
Return on assets (%)
5.90% 4.60% 5.00% 4.10% 2022202320242025
Free cash flow margin (%)
-2.70% 4.80% 12.80% 14.20% 2022202320242025
Debt / equity (×)
0.34× 0.58× 0.60× 0.26× 2022202320242025
EPS (€)
€10.94 €12.07 €15.96 €15.16 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Rheinmetall AG trades at about 76.8× earnings — above its 10-year norm (10-year range 19.6×–117.5×, median 47.3×).

19.6× 117.5×

Shaded band = 10-year range (19.6×–117.5×); dot = today's 76.8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin52.4%53.8%54.9%52.7%
Operating margin17.1%17.2%11.9%11.8%
Net margin7.0%9.3%7.5%7.4%
FCF margin14.2%12.8%4.8%-2.7%
Return on assets4.1%5.0%4.6%5.9%
Return on equity13.9%17.7%16.1%16.8%
Debt / equity0.18×0.39×0.39×0.12×
Current ratio1.201.211.301.41

Computed from company filings · DE · as of 2025-12-31. Figures in EUR. Facts plus Stocktoria's own computed scores — not investment advice.