Rational stock gains 2.5 percent as H1 revenue grows

Published on 10/04/2026 at 11:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rational stock carries EUR 170 million in first-half EBIT and a 26.5 percent margin. Goldman Sachs keeps Buy but trims its target from EUR 833 to EUR 831.

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Rational (ISIN DE0007010803) stock was trading at EUR 574.50 on Xetra on October 2, 2026, up 2.5 percent from the prior session. The company delivered 6 percent revenue growth in the first half of 2026, while its latest analyst updates kept attention on valuation and China-related risks.

Half-year growth stays on track

According to Yahoo Finance, Rational generated EUR 642 million of revenue in the first half of 2026, up 6 percent after currency adjustments. Second-quarter revenue increased 4 percent to EUR 324 million, giving investors a clear comparison with the prior-year period.

Profitability was stronger still. First-half EBIT increased 11 percent year over year to EUR 170 million, producing a 26.5 percent EBIT margin; excluding EUR 14 million of US tariff refunds, the margin would have been 24.3 percent, according to Yahoo Finance.

China remains the key counterweight

Management kept its 2026 outlook for mid- to high-single-digit growth and an EBIT margin between 25 percent and 26 percent. The earnings call also identified China as a pressure point, with first-half regional revenue down 25 percent, while North America grew 10 percent before currency effects.

The mix matters because the reported margin benefited from a one-time tariff refund. At the same time, the company said its order backlog at the end of the first half was EUR 10 million to EUR 15 million higher than at previous quarter ends, supporting the second-half revenue outlook.

Analysts keep targets elevated

Goldman Sachs kept its Buy rating on October 2, 2026, but cut its price target from EUR 833 to EUR 831 because of short-term pressure in China and higher bond yields, according to Aktiencheck. Bernstein Research maintained an Outperform rating and a EUR 1,070 target on October 2, 2026, as reported by finanzen.ch.

Rational stock stays below its yearly high

Rational stock was last at EUR 574.50 on Xetra on October 2, 2026 at 5:35 p.m. CEST. The price stood EUR 202.00 below the 52-week high of EUR 776.50 and EUR 14.00 above the 52-week low of EUR 560.50.