Rheinmetall stock trades at EUR 971.90 with plus 0.24 percent

Published on 09/29/2026 at 15:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rheinmetall stock was EUR 971.90, plus 0.24 percent versus EUR 969.60, on September 29, 2026. H1 2026 revenue rose 39 percent to EUR 5.23 billion.

Generischer gepanzerter Radpanzer im Dämmerlicht auf staubigem Truppenübungsplatz, Seitenansicht — Rheinmetall AG (DE0007030009) zeigt einen gepanzerten Radpanzer im Dämmerlicht auf einem staubigen Truppenübungsplatz, Illustration mit AI erstellt.

Rheinmetall stock was trading at EUR 971.90 at Lang & Schwarz on September 29, 2026 at 3:34 p.m. CEST, plus 0.24 percent versus the prior close of EUR 969.60. The company enters the final quarter with first-half revenue of EUR 5.23 billion, up 39 percent from the prior-year period, while its operating result increased 74 percent to EUR 786.00 million, according to HKCM in its review of second-quarter 2026 results.

Revenue growth meets a cash test

The operating figures show faster profit growth than sales growth. The 74 percent increase in operating result exceeded the 39 percent revenue increase, pointing to a larger contribution from the defense business mix and production scale.

The counterweight is capital consumption during expansion. FTD reported that operating free cash flow for the first half of 2026 was minus EUR 1.616 billion, compared with minus EUR 631.00 million in the prior-year period. That gap makes delivery timing and customer payments important alongside order intake.

Guidance keeps the key measure clear

Rheinmetall guides to 2026 sales of EUR 13.7 billion to EUR 14.2 billion and an operating margin of around 19 percent, with organic growth of 28 percent to 31 percent, according to HKCM. The range was reduced after the cancellation of the F126 frigate program, so execution rather than demand alone remains the central operating question.

The order position provides scale for that task. The first-half review cited an order backlog of EUR 80.5 billion and a book-to-bill ratio above 3.00. Those figures support multi-year visibility, but they still have to convert into production, revenue and cash flow.

November report sets next checkpoint

Rheinmetall's investor-relations calendar lists the third-quarter 2026 report for November 5, 2026, followed by the Capital Markets Day from November 25 to November 27, 2026, on the company's investor-relations page. The next report can show whether the 19 percent margin target is progressing while free cash flow improves from its first-half level.

At Lang & Schwarz, Rheinmetall stock was trading at EUR 971.90 on September 29, 2026 at 3:34 p.m. CEST, plus 0.24 percent versus the prior close of EUR 969.60 on September 28, 2026. The market capitalization was EUR 45.1 billion, and the 52-week range was EUR 900.20 to EUR 2,008.00 as of September 29, 2026.