Rheinmetall Valuation

Is 0NI1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0NI1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0NI1 (€624.2) is trading below our estimate of fair value (€1408.31)

Significantly Below Fair Value: 0NI1 is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0NI1?

Key metric: As 0NI1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0NI1. This is calculated by dividing 0NI1's market cap by their current earnings.
What is 0NI1's PE Ratio?
PE Ratio39.8x
Earnings€685.00m
Market Cap€27.27b

Price to Earnings Ratio vs Peers

How does 0NI1's PE Ratio compare to its peers?

The above table shows the PE ratio for 0NI1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.9x
BA. BAE Systems
20.4x7.8%UK£37.6b
RR. Rolls-Royce Holdings
20.8x-0.09%UK£48.4b
QQ. QinetiQ Group
17x15.1%UK£2.4b
BAB Babcock International Group
13.3x14.2%UK£2.6b
0NI1 Rheinmetall
39.8x29.0%€27.3b

Price-To-Earnings vs Peers: 0NI1 is expensive based on its Price-To-Earnings Ratio (39.8x) compared to the peer average (17.9x).


Price to Earnings Ratio vs Industry

How does 0NI1's PE Ratio compare vs other companies in the European Aerospace & Defense Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
0NI1 39.8xIndustry Avg. 25.1xNo. of Companies8PE020406080100+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0NI1 is expensive based on its Price-To-Earnings Ratio (39.8x) compared to the European Aerospace & Defense industry average (24.6x).


Price to Earnings Ratio vs Fair Ratio

What is 0NI1's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0NI1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio39.8x
Fair PE Ratio40.8x

Price-To-Earnings vs Fair Ratio: 0NI1 is good value based on its Price-To-Earnings Ratio (39.8x) compared to the estimated Fair Price-To-Earnings Ratio (40.8x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0NI1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€625.97
€692.87
+10.7%
7.4%€820.00€630.00n/a15
Nov ’25€478.19
€620.87
+29.8%
10.0%€730.00€496.00n/a15
Oct ’25€510.07
€616.44
+20.9%
10.4%€730.00€496.00n/a16
Sep ’25€542.75
€610.20
+12.4%
10.6%€730.00€496.00n/a15
Aug ’25€508.10
€590.40
+16.2%
12.9%€730.00€468.00n/a15
Jul ’25€478.65
€577.07
+20.6%
13.4%€730.00€451.00n/a14
Jun ’25€528.48
€575.00
+8.8%
13.2%€730.00€451.00n/a14
May ’25€517.20
€565.69
+9.4%
13.2%€730.00€451.00n/a13
Apr ’25€521.10
€503.77
-3.3%
13.9%€600.00€381.00n/a13
Mar ’25€429.42
€408.38
-4.9%
9.2%€455.00€323.00n/a13
Feb ’25€328.46
€365.08
+11.1%
14.2%€425.00€233.00n/a13
Jan ’25€288.00
€342.38
+18.9%
13.3%€420.00€233.00n/a13
Dec ’24€279.35
€325.83
+16.6%
11.2%€381.00€233.00€621.6412
Nov ’24€274.16
€297.17
+8.4%
7.7%€320.00€233.00€478.1912
Oct ’24€247.94
€295.45
+19.2%
7.9%€320.00€233.00€510.0711
Sep ’24€250.30
€291.00
+16.3%
7.8%€322.00€233.00€542.7511
Aug ’24€258.98
€290.45
+12.2%
7.8%€322.00€233.00€508.1011
Jul ’24€250.43
€290.64
+16.1%
7.6%€322.00€233.00€478.6511
Jun ’24€238.88
€290.64
+21.7%
7.6%€322.00€233.00€528.4811
May ’24€263.51
€290.27
+10.2%
7.8%€322.00€233.00€517.2011
Apr ’24€275.18
€281.27
+2.2%
8.8%€310.00€233.00€521.1011
Mar ’24€243.63
€262.55
+7.8%
8.4%€306.00€233.00€429.4211
Feb ’24€215.63
€246.09
+14.1%
9.4%€290.00€195.00€328.4611
Jan ’24€189.88
€233.18
+22.8%
11.2%€290.00€195.00€288.0011
Dec ’23€191.45
€233.18
+21.8%
11.2%€290.00€195.00€279.3511

Analyst Forecast: Target price is less than 20% higher than the current share price.


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