German defense and automotive technology company specializing in military vehicles, weapons systems, ammunition, and mobility components.
Profile & Fundamentals
Rheinmetall: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Rheinmetall Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
Explore this pageJump to a Profile & Fundamentals section
Explore this research
Profile & Fundamentals contents
Jump directly to any section
Company and Market Context
Company Profile & Ownership
Rheinmetall AG provides mobility and security technologies in Germany, Rest of Europe, North, Middle, and South America, Asia and the Near East, and internationally. The company operates through the Vehicle Systems, Weapon and Ammunition, and Electronic Solutions segments. Its Vehicle Systems segment offers combat, logistics, support, and special vehicles, including armored tracked vehicles, CBRN protection systems, artillery, turret systems, and wheeled logistics and tactical vehicles. The Weapon and Ammunition segment provides firepower and protection solutions, such as weapons and ammunition, protection systems, propellants, and international projects and services. Its Electronic Solutions segment offers a chain of systems network, such as sensors, networking platforms, automated connected effectors for soldiers, cyberspace protection solutions, and training and simulation solutions. The company's products include air defense, soldier, and fire control systems; radar technology; and command, control and reconnaissance systems, as well as simulations for the army, air force, navy, and civil applications. It also engages in the aftermarket activities. The company was formerly known as Rheinmetall Berlin AG and changed its name to Rheinmetall AG in 1996. Rheinmetall AG was founded in 1889 and is headquartered in Düsseldorf, Germany.
Company profile record
Rheinmetall AG
Common Stock · Industrials · Aerospace & Defense
Company
- Company / asset
- Rheinmetall AG
- Security type
- Common Stock
- Sector
- Industrials
- Industry
- Aerospace & Defense
- HQ
- 🇩🇪 Germany
- Head office
- Rheinmetall Platz 1, Düsseldorf, Germany, 40476
Leadership & scale
- Chief executive
- Mr. Armin Theodor Papperger
- CEO year born
- 1963
- Full-time employees
- 29.6K
- Fiscal year end
- December
Fundamentals snapshot
- Market Cap
- EUR 44.4B
- P/E
- 62.0x
- Revenue (Q2 26)
- EUR 3.3B
- Profit (Q2 26)
- EUR 124.0M
- Dividend Yield
- 0.9%
- Revenue (FY 25)
- EUR 9.9B
- Shares in public float
- 46.7M
- Insider ownership
- 1.65%
Reporting & identifiers
- Symbol
- RHM.XETRA
- Listing
- 🇩🇪 Germany | Dividend Tax: 26.38%
- Ticker Currency
- EUR
- Income Statement Currency
- EUR
- Balance Sheet Currency
- EUR
- Cash Flow Currency
- EUR
- EPS Currency
- EUR
- Contract Type
- SPOT
- ISIN
- DE0007030009
- Asset ID
- equity_158a90f9-fcd7-5b16-b706-bd529139322e
Ownership
Shares Outstanding
Latest: 46.6M | Max: 48.4M | Min: 42.5M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
100.11%
46.7M latest reported shares
Insider Ownership
1.65%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 42,450,000 |
| 2018-01-01 | 43,109,200 |
| 2019-01-01 | 43,327,500 |
| 2020-01-01 | 43,334,600 |
| 2021-01-01 | 43,195,300 |
| 2022-01-01 | 43,395,800 |
| 2023-01-01 | 46,340,000 |
| 2024-01-01 | 48,424,700 |
| 2025-01-01 | 46,648,600 |
| 2026-01-01 | 46,616,500 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The company's latest earnings paint an encouraging picture of rapid defense expansion once reporting changes are understood. Reported 2025 revenue appeared flat only because management separated and discontinued its older civilian car-parts business. Looking at continuing defense operations, organic sales grew nearly 30% in recent reporting periods, and second-quarter 2026 sales surged 35% to 3.29 billion euros as deliveries of ammunition and military vehicles accelerated. However, reported accounting profits do not tell the whole story. Operating cash flow temporarily turned sharply negative as the business spent heavily to stockpile specialized chemicals and metals needed to assemble long-lead military hardware. As finished equipment passes customer inspections, cash payments will follow.
The company's latest earnings paint an encouraging picture of rapid defense expansion once reporting changes are understood. Reported 2025 revenue appeared flat only because management separated and discontinued its older civilian car-parts business. Looking at continuing defense operations, organic sales grew nearly 30% in recent reporting periods, and second-quarter 2026 sales surged 35% to 3.29 billion euros as deliveries of ammunition and military vehicles accelerated. However, reported accounting profits do not tell the whole story. Operating cash flow temporarily turned sharply negative as the business spent heavily to stockpile specialized chemicals and metals needed to assemble long-lead military hardware. As finished equipment passes customer inspections, cash payments will follow.
Revenue, Net Income, and Free Cash Flow
Latest: EUR 9.9B | Max: EUR 9.9B | Min: EUR -175.0M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: >100x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Operating profit margins have experienced an impressive structural climb, expanding from 11.5% in 2022 to 17.1% in 2025 and pacing toward 19% in recent periods. This widening profitability is fundamentally driven by high-margin large-caliber artillery shells and advanced air-defense systems, which carry gross margins above 52% and benefit from massive factory economies of scale. While headline net profit margins temporarily dipped near 7% due to financing expenses and legacy restructuring costs, underlying defense pricing power remains rock-solid. Contractual inflation clauses shield profits from rising energy and steel prices, ensuring that operational margins remain comfortably anchored between 17% and 19%.
Operating profit margins have experienced an impressive structural climb, expanding from 11.5% in 2022 to 17.1% in 2025 and pacing toward 19% in recent periods. This widening profitability is fundamentally driven by high-margin large-caliber artillery shells and advanced air-defense systems, which carry gross margins above 52% and benefit from massive factory economies of scale. While headline net profit margins temporarily dipped near 7% due to financing expenses and legacy restructuring costs, underlying defense pricing power remains rock-solid. Contractual inflation clauses shield profits from rising energy and steel prices, ensuring that operational margins remain comfortably anchored between 17% and 19%.
Profitability Margins
Latest: 52.4% | Max: 53.6% | Min: 0.0%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
52.4%
Gross profit / revenue
Operating Margin
17.1%
Operating income / revenue
Net Margin
7.0%
Net income / revenue
FCF Margin
14.2%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 5,938,120,000 | 212,000,000 | 170,660,000 |
| 2017-12-31 | 7,016,240,000 | 266,560,000 | 328,440,000 |
| 2018-12-31 | 7,008,720,000 | 347,700,000 | -39,900,000 |
| 2019-12-31 | 7,005,600,000 | 375,200,000 | 351,680,000 |
| 2020-12-31 | 7,167,500,000 | 1,220,000 | 263,520,000 |
| 2021-12-31 | 6,450,120,000 | 331,740,000 | 477,660,000 |
| 2022-12-31 | 6,858,700,000 | 577,800,000 | -187,250,000 |
| 2023-12-31 | 7,893,600,000 | 644,600,000 | 379,500,000 |
| 2024-12-31 | 10,141,040,000 | 745,680,000 | 1,027,520,000 |
| 2025-12-31 | 11,623,950,000 | 814,320,000 | 1,654,380,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 104.62 | Trailing four quarters |
| 2024-12-31 | 41.51 | Trailing four quarters |
| 2023-12-31 | 24.77 | Trailing four quarters |
| 2022-12-31 | 14.95 | Annual net income |
| 2021-12-31 | 12.33 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 46.25 | 6.3 | 3.57 | 2.87 |
| 2017-12-31 | 46.62 | 6.53 | 3.8 | 4.68 |
| 2018-12-31 | 48.52 | 8.17 | 4.96 | -0.57 |
| 2019-12-31 | 48.71 | 8.33 | 5.36 | 5.02 |
| 2020-12-31 | 50.13 | 4.99 | 0.02 | 3.68 |
| 2021-12-31 | 53.55 | 10.85 | 5.14 | 7.41 |
| 2022-12-31 | 52.71 | 11.51 | 8.42 | -2.73 |
| 2023-12-31 | 21 | 12.5 | 8.17 | 4.81 |
| 2024-12-31 | 51.88 | 14.43 | 7.35 | 10.13 |
| 2025-12-31 | 52.38 | 17.13 | 7.01 | 14.23 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-08-20.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
Complete Research Workspace
Unlock the complete Profile & Fundamentals
Sign in to verify your access, or upgrade to the Base plan to open the complete profile & fundamentals and available source data.