Hensoldt stock gains as nine-month orders rise 76.7%
Published on 11/09/2026 at 17:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGrowth And Guidance Set The Agenda
- HENSOLDT reported stronger nine-month growth, led by higher orders, revenue and adjusted EBITDA.
- Management raised 2026 revenue guidance and refined its adjusted EBITDA margin target.
- The London Capital Markets Day on Tuesday, November 10, is the next scheduled investor event.
HENSOLDT enters the week of its London Capital Markets Day after reporting stronger nine-month growth and raising parts of its 2026 outlook on Thursday, November 5. Order intake, revenue and adjusted EBITDA all advanced, while the company pointed to stronger deliveries in radar and optronics.
Hensoldt stock traded at 82.85 euros on Lang & Schwarz at 17:08 CET on Monday, November 9, 6.99 percent above the Xetra close of Friday, November 6. The shares were up 3.29 percent from 80.21 euros in the latest relevant report on the stock, published earlier on Monday at 12:32 CET.
Orders Improve Revenue Visibility
For the first nine months of 2026, order intake increased 76.7 percent to 3,564 million euros, according to HENSOLDT. The order backlog reached a record 10,367 million euros, while revenue grew 21.3 percent to 1,863 million euros. The book-to-bill ratio rose to 1.9 times from 1.3 times a year earlier.
Adjusted EBITDA rose 33.0 percent to 281 million euros, lifting the margin to 15.1 percent from 13.7 percent. Adjusted free cash flow remained negative at minus 104 million euros in the first nine months, although it improved from minus 119 million euros a year earlier; third-quarter adjusted free cash flow was positive at 32 million euros.
Higher Targets Face Investor Test
HENSOLDT now expects 2026 revenue of around 2,800 million euros, compared with around 2,750 million euros previously. The company also refined its adjusted EBITDA margin target to around 19.0 percent from a prior range of 18.5 percent to 19.0 percent. The book-to-bill ratio is expected at the upper end of the previous 1.5 to 2.0 times range, even if the PEGASUS contract is awarded only in early 2027.
The Capital Markets Day takes place in London on Tuesday, November 10. Investors are likely to focus on how the record backlog converts into revenue, cash flow and sustainable margins. Preliminary 2026 results are scheduled for February 24, 2027.
HENSOLDT AG
- ISIN: DE000HAG0005
- Ticker: HAG.DE
- Trading venue: Lang & Schwarz
- Price: 82.85 euros at 17:08 CET on November 9, 2026
- Change versus Xetra close: 6.99 percent
- Xetra close: 77.44 euros on November 6, 2026
- Indices: MDAX, TecDAX
- Sector: Defense and security technology
The DAX provides the broader German market context for defense and industrial shares.
More news and analyses on Hensoldt stock remain available ahead of the investor event.
