RHM.DE · GER DAX Euro Stoxx 50

Rheinmetall AG

Industrials · Aerospace & Defense

€823.00 −€30.30 (−3.55%) today

Closing price on Nov 11, 2026 · Source: Yahoo Finance

Consensus of 22 analysts

Buy

Median price target €1,310.00 +59.2%

Open: €860.00
Day range: 822.30 – €865.00
52-week range: 792.60 – €1,966.00
Volume: 102,509
Market cap: €38,408M
P/E (TTM): 28.7x
EPS (TTM): €28.69
EPS est. 2026: €33.46
P/E est. 2026: 24.6x
Dividend yield: 1.4%
Beta: 0.45
Payout: 40%

Rheinmetall financials

Q3 2026 results, quarter ended Sep 30, 2026

Metric	Q3 2026	1-year change
Total revenue	€3,149M	+36.4%
Net income	€296M	+94.7%
Earnings per share	€6.34	+92.7%
Net margin	9.4%	+2.8 pp
Free cash flow	−€64M	n/s
Debt / equity	0.66	+27.7%

Revenue and net income (€M)

Total revenueNet income

Quarter	Total revenue	Net income
Q3 2025	€2,308M	€152M
Q4 2025	€2,420M	€328M
Q1 2026	€1,938M	€111M
Q2 2026	€3,289M	€124M
Q3 2026	€3,149M	€296M

Rheinmetall earnings per share (EPS)

Consensus estimates

Period	EPS est.	1-year change
Current quarterQ4 2026 · Analysts: 1	€20.43620.44 – 20.44	+23.1%€16.598
Current year2026 · Analysts: 16	€33.45728.40 – 37.15	+36.2%€24.565
Next year2027 · Analysts: 20	€49.77040.20 – 65.03	+48.8%€33.457

Forward P/E: 24.6x (2026) and 16.5x (2027) at the current price.

Actual and estimated EPS (€)

Actual EPSEstimated EPS

Quarter	Actual EPS	Estimated EPS
Q3 2025	€3.290	—
Q4 2025	€16.598	€18.687
Q1 2026	€2.890	€2.832
Q2 2026	€7.520	€6.595
Q3 2026	€6.420	€6.810
Q4 2026	—	€20.436

Year	Actual EPS	Estimated EPS
2022	€10.940	—
2023	€12.070	—
2024	€15.960	—
2025	€15.160	—
2026	—	€33.457
2027	—	€49.770

EPS trend

Quarter	EPS	YoY change
Q4 2026Estimated	€20.436	+23.1%
Q3 2026	€6.420est. €6.810 · surprise −5.7%	+95.1%
Q2 2026	€7.520est. €6.595 · surprise +14.0%	n/a
Q1 2026	€2.890est. €2.832 · surprise +2.1%	n/a
Q4 2025	€16.598est. €18.687 · surprise −11.2%	n/a
Q3 2025	€3.290	n/a

Year	EPS	Annual change
2027Estimated	€49.770	+48.8%
2026Estimated	€33.457	+120.7%
2025	€15.160	−5.0%
2024	€15.960	+32.2%
2023	€12.070	+10.3%
2022	€10.940	n/a

Normalised EPS according to the analyst consensus collected by Yahoo Finance; it may differ from the reported EPS in the results table.

Rheinmetall dividend

Yield and payments

Dividend yield (TTM)	1.4%
Forward yield (next 12m)	1.4%
Dividend per share (TTM)	€11.50
Forward dividend (next 12m)	€11.50
Payout (TTM)	40%
Last dividend	€11.50May 13, 2026
Next ex-dividend date	n/a

Dividend per share by year (€)

PaidEstimated

Year	Dividend per share
2019	€2.10
2020	€2.40
2021	€2.00
2022	€3.30
2023	€4.30
2024	€5.70
2025	€8.10
est. 12m	€11.50

Rheinmetall forecasts

22 analyst ratings

Buy77% Hold23% Sell0%

Consensus: Buy · 17 buy, 5 hold, 0 sell

1-year price forecast

Share price Price target (high, median, low)

12-month price targets
Target	Price	Upside
High	€2,100.00	+155.2%
Median	€1,310.00	+59.2%
Low	€900.00	+9.4%

Monthly close (last 12 months)
Date	Close
Nov 28, 2025	€1,480.50
Dec 30, 2025	€1,561.00
Jan 30, 2026	€1,781.50
Feb 27, 2026	€1,663.50
Mar 31, 2026	€1,444.50
Apr 30, 2026	€1,355.80
May 29, 2026	€1,293.40
Jun 30, 2026	€990.50
Jul 31, 2026	€1,140.00
Aug 31, 2026	€1,110.80
Sep 30, 2026	€956.40
Oct 30, 2026	€1,037.60
Nov 11, 2026	€823.00

Rheinmetall peers

Ticker	Company	Market cap (€M)	P/E	Price (€)	1-day change	52-week range
RHM.DE	Rheinmetall	38,408	28.7x	823.00	−3.55%	792.601,966.00
AIR.PA	Airbus	165,049	26.8x	209.15	+0.43%	157.42221.30
SAF.PA	Safran	128,682	33.4x	310.90	−0.58%	262.60366.50
HO.PA	Thales	47,364	31.7x	230.40	−0.99%	211.90274.20
LDO.MI	Leonardo	29,215	23.8x	50.65	−1.73%	44.2566.26
MTX.DE	MTU Aero Engines	19,167	20.3x	355.80	−1.41%	265.20404.80