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Rheinmetall AG
XETRA:RHM

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Rheinmetall AG
XETRA:RHM
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Price: 1 319.2 EUR -6.24% Market Closed
Market Cap: €60.7B

EV/EBIT

35.9
Current
46%
More Expensive
vs 3-y average of 24.6

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
35.9
=
Enterprise Value
€72.3B
/
EBIT
€1.7B

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
35.9
=
Enterprise Value
€72.3B
/
EBIT
€1.7B

Valuation Scenarios

Rheinmetall AG is trading above its 3-year average

If EV/EBIT returns to its 3-Year Average (24.6), the stock would be worth €903.54 (32% downside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-57%
Maximum Upside
+53%
Average Downside
23%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 35.9 €1 319.2
0%
3-Year Average 24.6 €903.54
-32%
5-Year Average 15.3 €562.66
-57%
Industry Average 54.9 €2 013.89
+53%
Country Average 15.5 €570.82
-57%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
€72.3B
/
Jan 2026
€1.7B
=
35.9
Current
€72.3B
/
Dec 2026
€2.7B
=
26.7
Forward
€72.3B
/
Dec 2027
€3.9B
=
18.3
Forward
€72.3B
/
Dec 2028
€5.4B
=
13.4
Forward
€72.3B
/
Dec 2029
€7.1B
=
10.2
Forward
€72.3B
/
Dec 2030
€9.3B
=
7.8
Forward
€72.3B
/
Dec 2031
€3.5B
=
20.8
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
DE
Rheinmetall AG
XETRA:RHM
60.5B EUR 35.9 86.5
US
RTX Corp
LSE:0R2N
233.6B USD 26.5 32.2
US
Raytheon Technologies Corp
NYSE:RTX
234.7B USD 26.6 32.3
US
Boeing Co
NYSE:BA
182.4B USD -36.7 96.5
NL
Airbus SE
PAR:AIR
130.6B EUR 21.6 25
FR
Safran SA
PAR:SAF
112.8B EUR 24.8 15.7
UK
Rolls-Royce Holdings PLC
LSE:RR
95.4B GBP 20.8 16.3
US
Lockheed Martin Corp
NYSE:LMT
117.6B USD 17.2 23.4
US
Howmet Aerospace Inc
NYSE:HWM
97.4B USD 46.6 64.7
US
General Dynamics Corp
NYSE:GD
84.7B USD 16.8 20.1
US
Northrop Grumman Corp
NYSE:NOC
81.7B USD 19.1 17.9
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
DE
Rheinmetall AG
XETRA:RHM
Average EV/EBIT: 25.6
35.9
48%
0.7
US
RTX Corp
LSE:0R2N
26.5
18%
1.5
US
Raytheon Technologies Corp
NYSE:RTX
26.6
18%
1.5
US
Boeing Co
NYSE:BA
Negative Multiple: -36.7 N/A N/A
NL
Airbus SE
PAR:AIR
21.6
25%
0.9
FR
Safran SA
PAR:SAF
24.8
20%
1.2
UK
Rolls-Royce Holdings PLC
LSE:RR
20.8
4%
5.2
US
Lockheed Martin Corp
NYSE:LMT
17.2
11%
1.6
US
Howmet Aerospace Inc
NYSE:HWM
46.6
17%
2.7
US
General Dynamics Corp
NYSE:GD
16.8
8%
2.1
US
Northrop Grumman Corp
NYSE:NOC
19.1
8%
2.4

Market Distribution

Higher than 86% of companies in Germany
Percentile
86th
Based on 2 187 companies
86th percentile
35.9
Low
0.1 — 10.6
Typical Range
10.6 — 23.1
High
23.1 —
Distribution Statistics
Germany
Min 0.1
30th Percentile 10.6
Median 15.5
70th Percentile 23.1
Max 672.9

Rheinmetall AG
Glance View

Rheinmetall AG, a stalwart of the German industrial landscape, paints a compelling tableau of adaptability and precision engineering. Founded in 1889, the company began its journey crafting armor for the rapid industrialization that swept across Europe. Today, it sits at the forefront of the automotive and defense industries, ingeniously balancing the dual threads of its business. On one side, the defense division thrives in an era of geopolitical uncertainty, producing advanced technologies ranging from military vehicles to sophisticated weapon systems and sensors. This arm of the business capitalizes on the increasing defense budgets worldwide, ensuring Rheinmetall maintains a robust position in global military contracts. Parallelly, Rheinmetall’s automotive sector embraces the evolution of mobility, driving innovation in engine efficiency and emissions reduction systems. This division is pivotal in the era of regulation-heavy automotive markets, such as those in the European Union, aiming for heightened environmental standards. By supplying components that promote cleaner, more efficient engines, Rheinmetall taps into the automotive industry's inexorable march toward sustainability. Together, these two complementary sectors enable Rheinmetall to craft a resilient narrative of growth and adaptability, illustrating how a company deeply rooted in its industrial origins can thrive by aligning itself with both the pragmatic demands of today and the technological innovations of tomorrow.

RHM Intrinsic Value
1 452.81 EUR
Undervaluation 9%
Intrinsic Value
Price €1 319.2
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