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HENSOLDT AG (1HENS.MI) Stock Fundamental Analysis

BIT:1HENS - Euronext Milan - DE000HAG0005 - Common Stock - Currency: EUR

101.1  +2.1 (+2.12%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to 1HENS. 1HENS was compared to 41 industry peers in the Aerospace & Defense industry. 1HENS may be in some trouble as it scores bad on both profitability and health. 1HENS shows excellent growth, but is valued quite expensive already.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

1HENS had positive earnings in the past year.
1HENS had a positive operating cash flow in the past year.
Of the past 5 years 1HENS 4 years were profitable.
Each year in the past 5 years 1HENS had a positive operating cash flow.
1HENS.MI Yearly Net Income VS EBIT VS OCF VS FCF1HENS.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M

1.2 Ratios

The Return On Assets of 1HENS (1.20%) is worse than 65.85% of its industry peers.
With a Return On Equity value of 6.33%, 1HENS is not doing good in the industry: 60.98% of the companies in the same industry are doing better.
1HENS has a Return On Invested Capital (5.26%) which is in line with its industry peers.
The Average Return On Invested Capital over the past 3 years for 1HENS is below the industry average of 9.24%.
Industry RankSector Rank
ROA 1.2%
ROE 6.33%
ROIC 5.26%
ROA(3y)2.14%
ROA(5y)1.27%
ROE(3y)10.63%
ROE(5y)5.56%
ROIC(3y)5.78%
ROIC(5y)5.27%
1HENS.MI Yearly ROA, ROE, ROIC1HENS.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30

1.3 Margins

1HENS has a worse Profit Margin (1.80%) than 65.85% of its industry peers.
In the last couple of years the Profit Margin of 1HENS has grown nicely.
1HENS has a Operating Margin of 6.42%. This is in the lower half of the industry: 1HENS underperforms 65.85% of its industry peers.
1HENS's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 21.37%, 1HENS is doing worse than 60.98% of the companies in the same industry.
In the last couple of years the Gross Margin of 1HENS has remained more or less at the same level.
Industry RankSector Rank
OM 6.42%
PM (TTM) 1.8%
GM 21.37%
OM growth 3Y-1.57%
OM growth 5Y7.78%
PM growth 3Y4.27%
PM growth 5Y55.45%
GM growth 3Y0.46%
GM growth 5Y-0.17%
1HENS.MI Yearly Profit, Operating, Gross Margins1HENS.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 15 20

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2

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), 1HENS is destroying value.
The number of shares outstanding for 1HENS remains at a similar level compared to 1 year ago.
1HENS has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, 1HENS has a worse debt to assets ratio.
1HENS.MI Yearly Shares Outstanding1HENS.MI Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
1HENS.MI Yearly Total Debt VS Total Assets1HENS.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.2 Solvency

1HENS has an Altman-Z score of 2.98. This is not the best score and indicates that 1HENS is in the grey zone with still only limited risk for bankruptcy at the moment.
1HENS has a better Altman-Z score (2.98) than 75.61% of its industry peers.
1HENS has a debt to FCF ratio of 17.26. This is a negative value and a sign of low solvency as 1HENS would need 17.26 years to pay back of all of its debts.
The Debt to FCF ratio of 1HENS (17.26) is worse than 73.17% of its industry peers.
A Debt/Equity ratio of 1.63 is on the high side and indicates that 1HENS has dependencies on debt financing.
1HENS has a Debt to Equity ratio of 1.63. This is in the lower half of the industry: 1HENS underperforms 75.61% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.63
Debt/FCF 17.26
Altman-Z 2.98
ROIC/WACC0.74
WACC7.12%
1HENS.MI Yearly LT Debt VS Equity VS FCF1HENS.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 0 500M 1B

2.3 Liquidity

1HENS has a Current Ratio of 1.26. This is a normal value and indicates that 1HENS is financially healthy and should not expect problems in meeting its short term obligations.
1HENS's Current ratio of 1.26 is fine compared to the rest of the industry. 1HENS outperforms 60.98% of its industry peers.
1HENS has a Quick Ratio of 1.26. This is a bad value and indicates that 1HENS is not financially healthy enough and could expect problems in meeting its short term obligations.
1HENS's Quick ratio of 0.81 is in line compared to the rest of the industry. 1HENS outperforms 58.54% of its industry peers.
Industry RankSector Rank
Current Ratio 1.26
Quick Ratio 0.81
1HENS.MI Yearly Current Assets VS Current Liabilites1HENS.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

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8

3. Growth

3.1 Past

1HENS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 67.82%, which is quite impressive.
1HENS shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 75.20% yearly.
Looking at the last year, 1HENS shows a very strong growth in Revenue. The Revenue has grown by 22.31%.
1HENS shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 14.99% yearly.
EPS 1Y (TTM)67.82%
EPS 3Y23.77%
EPS 5Y75.2%
EPS Q2Q%-100%
Revenue 1Y (TTM)22.31%
Revenue growth 3Y14.96%
Revenue growth 5Y14.99%
Sales Q2Q%20.06%

3.2 Future

Based on estimates for the next years, 1HENS will show a very strong growth in Earnings Per Share. The EPS will grow by 21.57% on average per year.
1HENS is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 13.33% yearly.
EPS Next Y30.8%
EPS Next 2Y25.5%
EPS Next 3Y25.2%
EPS Next 5Y21.57%
Revenue Next Year13.86%
Revenue Next 2Y13.07%
Revenue Next 3Y12.86%
Revenue Next 5Y13.33%

3.3 Evolution

Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
1HENS.MI Yearly Revenue VS Estimates1HENS.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2B 4B 6B
1HENS.MI Yearly EPS VS Estimates1HENS.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4

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1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 69.25, which means the current valuation is very expensive for 1HENS.
63.41% of the companies in the same industry are cheaper than 1HENS, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of 1HENS to the average of the S&P500 Index (26.43), we can say 1HENS is valued expensively.
1HENS is valuated quite expensively with a Price/Forward Earnings ratio of 43.97.
Compared to the rest of the industry, the Price/Forward Earnings ratio of 1HENS indicates a slightly more expensive valuation: 1HENS is more expensive than 75.61% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.17. 1HENS is valued rather expensively when compared to this.
Industry RankSector Rank
PE 69.25
Fwd PE 43.97
1HENS.MI Price Earnings VS Forward Price Earnings1HENS.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, 1HENS is valued a bit more expensive than the industry average as 73.17% of the companies are valued more cheaply.
1HENS's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. 1HENS is more expensive than 70.73% of the companies in the same industry.
Industry RankSector Rank
P/FCF 132.69
EV/EBITDA 33.83
1HENS.MI Per share data1HENS.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates 1HENS does not grow enough to justify the current Price/Earnings ratio.
1HENS's earnings are expected to grow with 25.20% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.25
PEG (5Y)0.92
EPS Next 2Y25.5%
EPS Next 3Y25.2%

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1

5. Dividend

5.1 Amount

With a yearly dividend of 0.55%, 1HENS is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 1.19, 1HENS has a dividend in line with its industry peers.
With a Dividend Yield of 0.55, 1HENS pays less dividend than the S&P500 average, which is at 2.38.
Industry RankSector Rank
Dividend Yield 0.55%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

80.70% of the earnings are spent on dividend by 1HENS. This is not a sustainable payout ratio.
DP80.7%
EPS Next 2Y25.5%
EPS Next 3Y25.2%
1HENS.MI Yearly Income VS Free CF VS Dividend1HENS.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2018 2019 2020 2021 2022 2023 2024 0 50M -50M 100M 150M
1HENS.MI Dividend Payout.1HENS.MI Dividend Payout, showing the Payout Ratio.1HENS.MI Dividend Payout.PayoutRetained Earnings

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HENSOLDT AG

BIT:1HENS (6/4/2025, 7:00:00 PM)

101.1

+2.1 (+2.12%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)05-07 2025-05-07
Earnings (Next)07-31 2025-07-31
Inst Owners27.39%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap11.68B
Analysts54.44
Price Target60.37 (-40.29%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.55%
Yearly Dividend0.4
Dividend Growth(5Y)N/A
DP80.7%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-0.8%
PT rev (3m)44.36%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-2.48%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.23%
Revenue NY rev (3m)-2.49%
Valuation
Industry RankSector Rank
PE 69.25
Fwd PE 43.97
P/S 3.69
P/FCF 132.69
P/OCF 39.58
P/B 12.96
P/tB N/A
EV/EBITDA 33.83
EPS(TTM)1.46
EY1.44%
EPS(NY)2.3
Fwd EY2.27%
FCF(TTM)0.76
FCFY0.75%
OCF(TTM)2.55
OCFY2.53%
SpS27.39
BVpS7.8
TBVpS-7.66
PEG (NY)2.25
PEG (5Y)0.92
Profitability
Industry RankSector Rank
ROA 1.2%
ROE 6.33%
ROCE 6.95%
ROIC 5.26%
ROICexc 6.6%
ROICexgc 28.44%
OM 6.42%
PM (TTM) 1.8%
GM 21.37%
FCFM 2.78%
ROA(3y)2.14%
ROA(5y)1.27%
ROE(3y)10.63%
ROE(5y)5.56%
ROIC(3y)5.78%
ROIC(5y)5.27%
ROICexc(3y)8.33%
ROICexc(5y)7.79%
ROICexgc(3y)46.8%
ROICexgc(5y)N/A
ROCE(3y)7.64%
ROCE(5y)6.97%
ROICexcg growth 3Y-15.34%
ROICexcg growth 5Y36.61%
ROICexc growth 3Y-6.65%
ROICexc growth 5Y16.6%
OM growth 3Y-1.57%
OM growth 5Y7.78%
PM growth 3Y4.27%
PM growth 5Y55.45%
GM growth 3Y0.46%
GM growth 5Y-0.17%
F-Score4
Asset Turnover0.66
Health
Industry RankSector Rank
Debt/Equity 1.63
Debt/FCF 17.26
Debt/EBITDA 3.93
Cap/Depr 121.05%
Cap/Sales 6.54%
Interest Coverage 2.78
Cash Conversion 78.88%
Profit Quality 154.39%
Current Ratio 1.26
Quick Ratio 0.81
Altman-Z 2.98
F-Score4
WACC7.12%
ROIC/WACC0.74
Cap/Depr(3y)108.33%
Cap/Depr(5y)97.31%
Cap/Sales(3y)6.89%
Cap/Sales(5y)7.13%
Profit Quality(3y)192.38%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)67.82%
EPS 3Y23.77%
EPS 5Y75.2%
EPS Q2Q%-100%
EPS Next Y30.8%
EPS Next 2Y25.5%
EPS Next 3Y25.2%
EPS Next 5Y21.57%
Revenue 1Y (TTM)22.31%
Revenue growth 3Y14.96%
Revenue growth 5Y14.99%
Sales Q2Q%20.06%
Revenue Next Year13.86%
Revenue Next 2Y13.07%
Revenue Next 3Y12.86%
Revenue Next 5Y13.33%
EBIT growth 1Y10.33%
EBIT growth 3Y13.15%
EBIT growth 5Y23.93%
EBIT Next Year52.77%
EBIT Next 3Y29.67%
EBIT Next 5Y21.54%
FCF growth 1Y-32.82%
FCF growth 3Y-16.94%
FCF growth 5Y110.7%
OCF growth 1Y28.82%
OCF growth 3Y1.41%
OCF growth 5Y30.26%