Rheinmetall AG : Growth, profitability and FCF generation, clear skies out to 2026 and beyond – target price raised to € 323
>2026 guidance ahead of expectations and strong FCF generation - Rheinmetall yesterday held a CMD where it unveiled its targets for 2026, with i/ sales of between € 13bn and € 14bn, ii/ an operating margin (before PPA) of over 15% (previous target >13% in 2025) and iii/ cash conversion now defined as FCF/EBIT of above 50%. The middle of the range works out at 11.6%, ahead of the VA consensus. While profitability in the civil segment, Power System, was, not surprisingl...Rheinmetall is a holding company. Through its subsidiaries, Co. operates in two sectors: defence and automotive. Co.'s defence sector is comprised of three divisions: combat systems, engaging in armored tracked vehicles and NBC protection systems; electronic solutions, engaging in air defence systems and soldier systems; and wheeled vehicles, engaging in wheeled logistics vehicles and wheeled tactical vehicles. Co.'s automotive sector is comprised of three division: mechatronics, engaging in cutting emissions and air management systems; hardparts, engaging in pistons and plain bearings and bushes; and motorservice, which includes aftermarket activities for replacement parts business.
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