Rheinmetall stock trades at EUR 982.40 before Q3 results

Published on 09/28/2026 at 10:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rheinmetall stock faces a November 5, 2026 reporting date after second-quarter revenue reached EUR 3.29 billion. Bernstein keeps a EUR 1,900.00 target and Outperform rating from September 21.

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 (ISIN DE0007030009) was last at EUR 982.40 on Xetra on September 28, 2026 at 10:37 a.m. CEST, with a daily change of 0.00 percent. The next scheduled test for the defense group is its third-quarter report on November 5, 2026.

Revenue rose 35.35 percent

Rheinmetall reported second-quarter 2026 revenue of EUR 3.29 billion, up 35.35 percent from EUR 2.43 billion in the prior-year quarter, according to finanzen.ch on September 28, 2026. Earnings per share for the same quarter were EUR 2.66, compared with EUR 2.90 a year earlier.

The contrast matters for investors: sales expanded by double digits, while quarterly EPS declined by EUR 0.24. That combination puts execution, product mix and margin conversion ahead of revenue growth alone when the November figures arrive.

Bernstein keeps EUR 1,900 target

Bernstein Research maintained an Outperform rating and a EUR 1,900.00 price target for Rheinmetall on September 21, 2026, according to finanzen.at. The analyst view cited higher European defense spending and a projected 4 percent annual growth rate for European defense budgets through 2035.

The target is EUR 917.60 above the September 28 reference price, or 93.44 percent higher. That gap is an analyst assessment rather than a guaranteed market level, and the unchanged rating leaves the valuation debate open.

Contract win adds a current order signal

Rheinmetall said on its investor-relations page that it won a maintenance contract dated September 23, 2026, covering four new LNG customs ships. The contract broadens the visible order picture beyond vehicles, weapons and ammunition, although its financial contribution was not quantified in the release.

Stock stays below its yearly high

Rheinmetall was last at EUR 982.40 on Xetra on September 28, 2026 at 10:37 a.m. CEST. The session range was EUR 980.40 to EUR 989.00, the 52-week range was EUR 900.20 to EUR 2,008.00, and market capitalization was EUR 45.8 billion.