Rheinmetall’s 6.94% drop looks like a buying opportunity

I see the −6.94% session drop as an overreaction, though not a risk-free bargain. Rheinmetall remains profitable and growing: Q3 revenue rose 36.4% year over year and net income rose 94.7%. The Q3 EPS miss—€6.420 versus €6.810 expected—and negative free cash flow of −€64M are real cautions, alongside debt/equity of 0.66, up 27.7%. But estimates still imply EPS growth of 120.7% in 2026 and 48.9% in 2027; at €794.10, estimated P/E falls from 23.7x for 2026 to 15.9x for 2027. The share is down 54.5% over 12 months and at its 52-week low. This sharp move does not change my view: I’ll start a measured position, not commit all cash.