Rheinmetall shares remain among the most exciting stocks in the DAX. As one of the biggest beneficiaries of European rearmament, the company regularly wins major new contracts in the field of air defense. At the same time, the stock is trading near its yearly high. Investors are therefore wondering how attractive the current valuation is and how TransparentShare assesses the situation.
Rheinmetall stock at a glance
- Major order for the Skyranger 30 mobile air defense system from the Netherlands.
- Hensoldt supplies modern radars for air defense systems of the Rheinmetall Group.
- TransparentShare rating at 4 out of 11 points, as of January 19, 2026.
Rheinmetall continues to benefit significantly from rising defense spending in Europe. The company recently announced a major new order from the Dutch Ministry of Defence. The order comprises a double-digit number of Skyranger 30 mobile air defense systems.
The order is worth a high three-figure million euro amount. Delivery of the systems is scheduled to begin at the end of 2028 and be completed by 2029. Part of the value creation takes place directly in the Netherlands. For Rheinmetall, this means predictable long-term revenue and a further strengthening of its position in the field of modern air defense.
Such orders are no longer an exception for Rheinmetall. The company has established itself as a key provider of ground-based air defense and drone countermeasures. These very capabilities are currently at the top of the investment agenda for many European countries.
Check out the Rheinmetall share price rating at TransparentShare (free registration required): View the Rheinmetall rating now.
Technological strength as a growth driver
Alongside these major orders, Rheinmetall is consistently investing in the technological advancement of its systems. Hensoldt supplies SPEXER family radars for the Rheinmetall Group's air defense systems. These radars are used in both the Skyranger 30 system and the HoWiSM laser-based drone defense system.
This further strengthens Rheinmetall's position in the future field of drone defense. The increasing threat posed by drones around critical infrastructure is considered one of the most important drivers for new defense investments in Europe.
Correctly assessing the situation near the year's high
Rheinmetall shares are currently trading only a few percent below their yearly high. This is not a warning sign, but rather indicates that the market has a very high opinion of the company's growth prospects. At the same time, high share prices also raise expectations for revenue and profit development.
TransparentShare rating of 4 out of 11 points
TransparentShare rates Rheinmetall shares at 4 out of 11 points as of January 19, 2026. TransparentShare had already recommended the stock as a buy on November 2, 2023, at a price of €275.80. For investors who have been invested since then, the current rating of +4 points represents a clear hold recommendation. To date, a price increase of almost 600 percent has been achieved..
Positive factors include a return on equity of 18.10 percent, a solid equity ratio of over 31 percent, and a profit margin of approximately 13.8 percent. The valuation is further supported by strong share price growth compared to the index over the past 12 months and expected earnings growth of around 19 percent.
On the other hand, the valuation is ambitious. The current price-to-earnings ratio is around 38, and the price-to-book ratio is also elevated. The market is therefore already pricing in a large portion of future growth, which limits the scope for further positive surprises.
Rheinmetall stock: The overall picture is what matters
Rheinmetall It combines structural growth, technological strength, and a very full order book. At the same time, the valuation scope is limited, as the stock already reflects high expectations. This is precisely where TransparentShare provides support with an objective assessment based on clear key figures.
Open the full review in the TransparentShare app. Free registration required.
If you want to see how individual key figures specifically affect the rating and whether the Rheinmetall share is currently more of a watch position, it is worth taking a look at the complete share profile in the app.
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