Rheinmetall AG RHM
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Full analysis: 19 Jul 2026
Latest news check: 7 Aug 2026
General analysis — not personal advice.
HOLD
7/10
Confidence
Existing position may be maintained at current valuation.
Strong order intake and margin expansion are balanced by the lowered sales guidance after the F126 cancellation.
Market sentiment
7/10
→
Trend: Stable
The market weighs strong operational performance against political contract risk and cash-flow uncertainty.
Price context
The share trades roughly 42 percent below its 52-week high following the drop on F126 news. The level reflects both the reduced guidance and the record order backlog.
Risk assessment
5/10
Dilution:
Low
Strong cash position and positive cash flow
Jurisdiction:
Low
Operations in Germany and NATO countries
Execution:
Medium
Large order book but capacity challenges
Recent changes
- Strong Q2 figures with revenue of EUR 3.289B and 17.1% margin but lowered full-year guidance following F126 cancellation.
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Show all changes (2) — follow the company freeAbout the company
Rheinmetall is a leading European supplier of military vehicles, ammunition and air defence systems. The company is increasingly focusing on defence after divesting civilian divisions. A strong order book drives growth in a rising European defence market.
Sector:
Defense and security
Type:
Industrial
Next report
5 Nov 2026
Q3
Catalysts
Dec 2026
Ammunition contracts
High
Unknown
Boxer programme decision
Medium
Horizon:
Bull case
High demand for ammunition and vehicles drives strong revenue growth and margin expansion.
Bear case
Risk of contract cancellations and delivery bottlenecks may dampen near-term growth.
Signal rationale (informational)
Strong order intake and margin expansion are balanced by the lowered sales guidance after the F126 cancellation.
Recent news
- Rheinmetall reported strong Q2 figures with revenue of 3.289 billion EUR and operating margin of 17.1 percent. The F126 frigate programme was cancelled, resulting in lowered full-year sales guidance to 13.7–14.2 billion EUR.
Price & valuation
Last close
EUR 1,142
1 week
-4.9 %
3 months
+1.8 %
12 months
-26.9 %
From 52w high
-42.6 %
From 52w low
+20.7 %
Exchange
Xetra
Type
Industrials
Sector
Defense and security
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.