Rheinmetall AG (RHM): score, analyst targets & catalysts

Business overview

Rheinmetall is the German champion of land-based defense: large-caliber ammunition (120mm, 155mm), armored vehicles (Leopard 2, Puma, Lynx, KF51 Panther), artillery systems, and propellants/explosives via its subsidiary Nitrochemie.

Watch: Next: Rheinmetall AG — quarterly earnings release — 2026-11-05

Valuation

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Update log

Date	News	Impact
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10/26/2026	Elbit Systems Awarded Approximately $200 Million in Contracts for Airborne ISTAR and Training Solutions in Asia-Pacific PR Newswire	PR Newswire
10/26/2026	The Partner Companies Acquires F&B MFG, Strengthening Precision Metal Forming Capabilities for Aerospace and Defense PR Newswire	PR Newswire
10/26/2026	FL Technics Indonesia Secures EASA Certification for Bali Hangar, Expanding Capabilities to European Fleets PR Newswire	PR Newswire
10/26/2026	BLADE Awarded Contract to Advance Critical Equipment Decontamination System for U.S. Special Operations Forces PR Newswire	PR Newswire
10/26/2026	SAFE Structure Designs Awarded U.S. Coast Guard Contract for MH-60 Parts and Cowling Racks at Air Station Astoria PR Newswire	PR Newswire
10/26/2026	STANDEX ANNOUNCES APPOINTMENT OF BRENNA PREISSER TO BOARD OF DIRECTORS PR Newswire	PR Newswire
10/26/2026	PROCOMER supports ten Costa Rican companies seeking to expand their presence in the global aerospace supply chain PR Newswire	PR Newswire
10/26/2026	CAE to sell Flightscape to SITA PR Newswire	PR Newswire
10/26/2026	CACI Secures U.S. Navy Task Order to Strengthen Electromagnetic Spectrum Dominance PR Newswire	PR Newswire
10/24/2026	Axon Announces Body 5: Next-Generation Camera Built for the AI Era PR Newswire	PR Newswire
10/23/2026	Yazan Al Homsi Invests US$500,000 in Toronto Drone Maker Arcanus Aerial Systems PR Newswire	PR Newswire
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10/23/2026	Drone Nerds Introduces ABZ Innovation C30 High-Pressure Cleaning Drone to Enterprise Portfolio PR Newswire	PR Newswire
10/23/2026	STANDEX ANNOUNCES TIMING OF FIRST QUARTER FISCAL 2027 RESULTS PR Newswire	PR Newswire
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10/23/2026	PlanetiQ Expands GNSS-RO Coverage with Second Satellite Launch This Month PR Newswire	PR Newswire
10/23/2026	Amy Johnson Appointed President of GDIT PR Newswire	PR Newswire
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10/23/2026	Leonardo, Rheinmetall secure $4 billion contracts with Italian Army, report says Defense News	Defense News
10/23/2026	Land-Based C4ISR Market Forecasts Growth from $36.6 Billion (2025) to $67.7 Billion by 2035, Profiling Lockheed Martin, Rheinmetall, Thales, Elbit Systems & 14 Other Key Players Yahoo Finance	Yahoo Finance
10/23/2026	Rheinmetall Stock And Europe’s Defence Factory Buildout Yahoo Finance	Yahoo Finance
10/22/2026	Spectrum Control Earns Platinum Award in 2026 Military + Aerospace Electronics Innovators Award PR Newswire	PR Newswire
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10/22/2026	SAiMON Robotics Attends Ascend 2026 Conference to Evaluate Autonomous Aerial Platforms for Its Robots-as-a-Service Offering PR Newswire	PR Newswire
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10/22/2026	Axon to Release Third Quarter 2026 Earnings on November 5, 2026 PR Newswire	PR Newswire
10/20/2026	Rheinmetall Fell While Profit Rose Yahoo Finance	Yahoo Finance
10/19/2026	Rheinmetall to take over the Mangalia shipyard in Romania Naval News	Rheinmetall and MSC have been awarded the bid to acquire the Mangalia shipyard in Romania to establish a hub for naval shipbuilding.
10/13/2026	Nel ASA: Partners with Rheinmetall on its Giga PtX project for decentralized synthetic fuel production Yahoo Finance	Yahoo Finance
10/9/2026	Rheinmetall stock slips as Berenberg downgrades to Hold on uncertain outlook Yahoo Finance	Yahoo Finance
10/4/2026	Rheinmetall Stock And 2 Defense Technology Names Riding The Drone Warfare Shift Yahoo Finance	Yahoo Finance
9/17/2026	Germany's missile stockpiles 'worryingly low', Rheinmetall CEO tells Euronews Yahoo Finance	Yahoo Finance
9/3/2026	Accelerating Defense Modernization Driving the Unmanned Ground Vehicles (UGV) Market to $3.19 Billion in 2026 - Profiles of General Dynamics, Rheinmetall, BAE Systems and Other Leading Players Yahoo Finance	Yahoo Finance
9/1/2026	American Rheinmetall delivers its first prototype to replace Bradley Fighting Vehicle Defense News	Defense News
8/27/2026	Lockheed Martin Europe CEO on Rheinmetall & Transatlantic Deterrence Yahoo Finance	Yahoo Finance
8/14/2026	Rheinmetall Launches New Containerized Loitering Munition From Moving Truck The War Zone	The War Zone
8/14/2026	F128: TKMS open to Rheinmetall’s participation in the 2nd lot of MEKO A-200 Naval News	Naval News
8/13/2026	RNMBY- A Wide Mote Defense Stock to Target Yahoo Finance	Yahoo Finance
8/12/2026	Danish frigates to receive MASS decoy launchers from Rheinmetall Naval News	Naval News
8/7/2026	Rheinmetall CEO 'Very Unhappy' With Naval Contract Loss Yahoo Finance	Yahoo Finance
8/7/2026	Rheinmetall says ramping up ATACMS output will take time as US rebuilds stocks Defense News	Defense News
8/7/2026	Rating revision: Rating 2 → Rating 3 AI review	The rating is downgraded to 3 due to the materialized political risk involving the cancellation of the F126 frigate program. The subsequent reduction in the 2026 sales outlook underscores a heightened vulnerability to German government procurement decisions, which undermines the previous stability associated with a rating of 2. Investors should exercise caution as the reliance on national defense budget volatility remains a significant structural concern.
8/6/2026	Rheinmetall scales down 2026 sales outlook on scrapped frigate program Yahoo Finance	Rheinmetall has lowered its 2026 sales forecast following the German government's decision to cancel a frigate program.
8/6/2026	Rheinmetall cuts sales outlook after Germany cancels frigate deal Yahoo Finance	Rheinmetall has reduced its sales outlook for 2026 after the German Defence Ministry canceled the F126 frigate program.
8/6/2026	Rheinmetall scales down 2026 sales outlook on scrapped frigate program Defense News	Defense News
8/6/2026	Rheinmetall projects $346 million naval loss after F126 frigate cancellation Breaking Defense	Breaking Defense
8/6/2026	Rheinmetall Q2 Earnings Call Highlights Yahoo Finance	Yahoo Finance
8/6/2026	Rheinmetall sales keep surging despite cancelled naval frigate project Yahoo Finance	Yahoo Finance
8/6/2026	Rheinmetall AG (RNMBF) (Q2 2026) Earnings Call Highlights: Record Order Intake and Strategic ... Yahoo Finance	Yahoo Finance
8/6/2026	Has Rheinmetall (XTRA:RHM) Become Fully Priced After Its 14x Run? Yahoo Finance	Yahoo Finance
8/6/2026	Rheinmetall (XTRA:RHM) Following Q2 Results And Lower Outlook Still Looks Undervalued Yahoo Finance	Yahoo Finance
8/5/2026	Goldman Sachs Names 2 European Stocks It Says Can More Than Double Yahoo Finance	Yahoo Finance
8/3/2026	German Defense Giant Rheinmetall Enters The Frigate Market The War Zone	The War Zone
8/3/2026	Rheinmetall Unveils GMF140 Next-Gen 6,000-Tonne Frigate for North America Naval News	Naval News
8/3/2026	Rheinmetall unveils new guided-missile frigate projected for North American tender Breaking Defense	Breaking Defense
7/30/2026	Rheinmetall Secures Contract to Modernize German Navy’s F123 Frigate Naval News	Naval News
7/29/2026	Preliminary profit for second quarter rises for Germany's Rheinmetall Yahoo Finance	German defense company Rheinmetall reported that its preliminary results for the second quarter significantly exceeded market expectations, driven by strong demand across all business segments.
7/29/2026	Rating revision: Rating 3 → Rating 2 AI review	While the F126 naval program cancellation created significant volatility, the company's financial performance indicates robust operational resilience. The record quarterly profits and doubled core earnings justify an upgrade in rating to reflect superior execution in the current high-demand environment. Moving from a rating of 3 to 2 balances the strong fundamental performance against lingering sensitivity to national political procurement shifts.
7/29/2026	Rheinmetall shares surge after armsmaker reports record profit Yahoo Finance	Yahoo Finance
7/27/2026	Germany's draft defense budget raises fresh questions for Rheinmetall (RNMBF:OTCMKTS) - Seeking Alpha google_news	Seeking Alpha
7/27/2026	Rheinmetall AG - Rheinmetall To Deliver Heavy-Duty Transporters To The Bundeswehr - TradingView google_news	TradingView
7/27/2026	Germany to Trim Munitions Spending in Blow for Rheinmetall - Bloomberg.com google_news	Bloomberg.com
7/27/2026	Rating revision: Rating 2 → Rating 3 AI review	The imposition of Chinese export controls introduces significant supply chain risks and geopolitical friction for Rheinmetall, which relies on global raw material access. Given the recent historical volatility following the F126 program cancellation, this additional political headwind warrants a more cautious, speculative tier assessment. The company's heavy reliance on government alignment now faces international escalations beyond European borders.
7/27/2026	China Targets 14 European Firms With Export Controls After EU Sanctions Yahoo Finance	Yahoo Finance
7/23/2026	Rheinmetall is Constructing One of Europe's Largest and Most Modern Powder Plants - ASDNews google_news	ASDNews
7/23/2026	Technical analysis 🔼 Is Rheinmetall testing the upper boundary of its descending channel? - XTB.com google_news	XTB.com
7/23/2026	Rating revision: Rating 3 → Rating 2 AI review	Despite political tensions related to demonstrations, the strategic partnership with Lockheed Martin for the local production of ATACMS missiles in Germany structurally strengthens Rheinmetall's order book and its pivotal role in NATO. This technological and industrial integration reduces exclusive dependence on national German budgets alone, justifying an upward revision of the tier. Political risk remains, but the robustness of the industrial model is confirmed by these major new contracts.
7/22/2026	Rheinmetall assesses next steps on GNYK shipyard after TKMS pulls out, says CEO - Reuters google_news	Reuters
7/22/2026	Rheinmetall Weighs Options After TKMS Pulls Out of GNYK Shipyard, CEO Says - Zonebourse Switzerland google_news	The Rheinmetall CEO is currently evaluating strategic outlooks for the GNYK shipyard following the withdrawal of TKMS.
7/22/2026	Rheinmetall may abandon shipyard acquisition following frigate project cancellation google_news	Following the cancellation of the frigate project, Rheinmetall is considering abandoning the acquisition of a shipyard.
7/22/2026	Rheinmetall expands its powder factory in Aschau: up to 600 new jobs - Zonebourse Switzerland google_news	Rheinmetall plans to expand its powder production site in Aschau, requiring the recruitment of 600 additional employees.
7/22/2026	Rheinmetall bets on powder and hesitates to expand - Zonebourse google_news	Rheinmetall is intensifying its powder manufacturing operations while showing caution regarding its overall strategic direction.
7/22/2026	Rheinmetall evaluating next steps for GNYK shipyard after TKMS withdrawal, says CEO - Zonebourse Switzerland google_news	Following the withdrawal of TKMS, the CEO of Rheinmetall is examining available options regarding the GNYK shipyard file.
7/20/2026	Rheinmetall secures 100 million EUR order from the Bundeswehr - Zonebourse google_news	Rheinmetall has secured a new contract worth 100 million euros from the German army (Bundeswehr).
7/20/2026	Price ~985 EUR, drop of -51% from the peak (2008 EUR). 17 buy ratings, 0 sell ratings, average target 1697.85 EUR.	Severe fall but very favorable analyst consensus - handle with caution
7/19/2026	Acquisition of Expal Systems (Spain). $50 billion in new NATO contracts.	Confirms upstream vertical integration in explosives
7/15/2026	Cooperation with Space Norway on maritime space surveillance - Rheinmetall google_news	Rheinmetall
7/13/2026	Rheinmetall Faces Fresh Protests as Around 40 Demonstrators Target Berlin Office Yahoo Finance	Yahoo Finance
7/9/2026	Contract to develop a laser weapon system for the German Navy - Rheinmetall google_news	Rheinmetall
7/9/2026	CCC, Rheinmetall Canada supply aircraft ground support equipment to U.S. Navy and Marine Corps - GlobeNewswire GlobeNewswire	GlobeNewswire
7/9/2026	CCC and Rheinmetall Canada provide equipment to - GlobeNewswire GlobeNewswire	GlobeNewswire
7/7/2026	Rheinmetall (XTRA:RHM) Stock Looks Fairly Valued While Its Earnings Stay Pricey Yahoo Finance	Yahoo Finance
7/7/2026	Lockheed Martin and Rheinmetall partner to manufacture ATACMS missiles in Germany (LMT) Yahoo Finance	Yahoo Finance
7/7/2026	Is Lockheed Martin (LMT) Undervalued On Its Europe ATACMS Deal? Yahoo Finance	Yahoo Finance
6/24/2026	Rheinmetall: 15% drop following the loss of the frigate contract; disproportionate reaction - Morningstar google_news	Rheinmetall shares fell 15% following the loss of a frigate-related contract, a decline considered exaggerated by Morningstar.
6/24/2026	Germany cancels F126 frigate program (~€12B pipeline). Stock -19% in one session.	Real blow to part of the thesis - actualized political risk
5/12/2026	Stock Market Culture: 'I hold Rheinmetall AG shares and the price is down 15%. Should I buy now to strengthen my position or wait longer?', by Julie Cohen-Heurton - 05/12 - BFM google_news	BFM
4/8/2026	THEON Signs Strategic Agreement with RHEINMETALL for the - GlobeNewswire GlobeNewswire	GlobeNewswire
6/11/2025	AMERICAN RHEINMETALL MUNITION INC — $6,857,771 (Department of Defense) USASpending	M1110 40MM DAY/NIGHT PRACTICE CARTRIDGE
7/19/2024	AMERICAN RHEINMETALL MUNITION INC — $12,352,549 (Department of Defense) USASpending	40MM DAY/NIGHT LOW VELOCITY CARTRIDGE
6/26/2023	AMERICAN RHEINMETALL VEHICLES, LLC — $697,724,218 (Department of Defense) USASpending	PHASE 3 AND 4 DEVELOPMENT WITH 7 PROTOTYPE DELIVERABLES OF THE OPTIONALLY MANNED FIGHTING VEHICLE.
9/29/2021	AMERICAN RHEINMETALL SYSTEMS LLC — $37,007,915 (Department of Defense) USASpending	20MM SEARANGER GUN SYSTEMS (QTY: 12), SPARES, TRAINING, HAT TEST
6/30/2006	RHEINMETALL WAFFE MUNITION GMB — $34,797,513 (Department of Defense) USASpending
2026-05	Inauguration of the 155mm ammunition plant in Unterluess	Announced capacity of 700,000 shells/year by 2027; secures European market share against Nammo and Nexter.