HENSOLDT AG (HAG.DE) Fundamental Analysis & Valuation

FRA:HAG • DE000HAG0005

74.95 EUR
-2.6 (-3.35%)
Last: Mar 11, 2026, 10:35 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This HAG.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

Taking everything into account, HAG scores 4 out of 10 in our fundamental rating. HAG was compared to 57 industry peers in the Aerospace & Defense industry. Both the profitability and financial health of HAG have multiple concerns. HAG is valued quite expensively, but it does show have an excellent growth rating.


Dividend Valuation Growth Profitability Health

3

1. HAG.DE Profitability Analysis

1.1 Basic Checks

  • In the past year HAG was profitable.
  • In the past year HAG had a positive cash flow from operations.
  • Of the past 5 years HAG 4 years were profitable.
  • In the past 5 years HAG always reported a positive cash flow from operatings.
HAG.DE Yearly Net Income VS EBIT VS OCF VS FCFHAG.DE 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

  • With a Return On Assets value of 1.47%, HAG is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
  • HAG has a worse Return On Equity (8.66%) than 63.16% of its industry peers.
  • HAG's Return On Invested Capital of 5.50% is on the low side compared to the rest of the industry. HAG is outperformed by 63.16% of its industry peers.
  • HAG had an Average Return On Invested Capital over the past 3 years of 5.78%. This is below the industry average of 9.88%.
Industry RankSector Rank
ROA 1.47%
ROE 8.66%
ROIC 5.5%
ROA(3y)2.14%
ROA(5y)1.27%
ROE(3y)10.63%
ROE(5y)5.56%
ROIC(3y)5.78%
ROIC(5y)5.27%
HAG.DE Yearly ROA, ROE, ROICHAG.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30

1.3 Margins

  • HAG has a Profit Margin of 2.20%. This is in the lower half of the industry: HAG underperforms 64.91% of its industry peers.
  • HAG's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 6.44%, HAG is doing worse than 63.16% of the companies in the same industry.
  • HAG's Operating Margin has improved in the last couple of years.
  • With a Gross Margin value of 20.53%, HAG perfoms like the industry average, outperforming 42.11% of the companies in the same industry.
  • In the last couple of years the Gross Margin of HAG has remained more or less at the same level.
Industry RankSector Rank
OM 6.44%
PM (TTM) 2.2%
GM 20.53%
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%
HAG.DE Yearly Profit, Operating, Gross MarginsHAG.DE 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. HAG.DE Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so HAG is destroying value.
  • HAG has about the same amout of shares outstanding than it did 1 year ago.
  • The number of shares outstanding for HAG has been increased compared to 5 years ago.
  • The debt/assets ratio for HAG is higher compared to a year ago.
HAG.DE Yearly Shares OutstandingHAG.DE Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
HAG.DE Yearly Total Debt VS Total AssetsHAG.DE 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

  • An Altman-Z score of 2.30 indicates that HAG is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • With a Altman-Z score value of 2.30, HAG is not doing good in the industry: 61.40% of the companies in the same industry are doing better.
  • The Debt to FCF ratio of HAG is 8.13, which is on the high side as it means it would take HAG, 8.13 years of fcf income to pay off all of its debts.
  • HAG's Debt to FCF ratio of 8.13 is in line compared to the rest of the industry. HAG outperforms 40.35% of its industry peers.
  • A Debt/Equity ratio of 1.84 is on the high side and indicates that HAG has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 1.84, HAG is doing worse than 77.19% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.84
Debt/FCF 8.13
Altman-Z 2.3
ROIC/WACC0.66
WACC8.34%
HAG.DE Yearly LT Debt VS Equity VS FCFHAG.DE 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

  • HAG has a Current Ratio of 1.22. This is a normal value and indicates that HAG is financially healthy and should not expect problems in meeting its short term obligations.
  • With a Current ratio value of 1.22, HAG perfoms like the industry average, outperforming 59.65% of the companies in the same industry.
  • HAG has a Quick Ratio of 1.22. This is a bad value and indicates that HAG is not financially healthy enough and could expect problems in meeting its short term obligations.
  • HAG has a Quick ratio (0.76) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 1.22
Quick Ratio 0.76
HAG.DE Yearly Current Assets VS Current LiabilitesHAG.DE 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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

8

3. HAG.DE Growth Analysis

3.1 Past

  • HAG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 67.82%, which is quite impressive.
  • Measured over the past years, HAG shows a very strong growth in Earnings Per Share. The EPS has been growing by 75.20% on average per year.
  • Looking at the last year, HAG shows a quite strong growth in Revenue. The Revenue has grown by 17.51% in the last year.
  • Measured over the past years, HAG shows a quite strong growth in Revenue. The Revenue has been growing by 14.99% on average per year.
EPS 1Y (TTM)67.82%
EPS 3Y23.77%
EPS 5Y75.2%
EPS Q2Q%-41.18%
Revenue 1Y (TTM)17.51%
Revenue growth 3Y14.96%
Revenue growth 5Y14.99%
Sales Q2Q%12.12%

3.2 Future

  • The Earnings Per Share is expected to grow by 23.32% on average over the next years. This is a very strong growth
  • HAG is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 15.73% yearly.
EPS Next Y8.22%
EPS Next 2Y15.36%
EPS Next 3Y18.77%
EPS Next 5Y23.32%
Revenue Next Year8.91%
Revenue Next 2Y9.76%
Revenue Next 3Y12.03%
Revenue Next 5Y15.73%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in 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.
HAG.DE Yearly Revenue VS EstimatesHAG.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2B 4B 6B
HAG.DE Yearly EPS VS EstimatesHAG.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4 5

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2

4. HAG.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 51.34, the valuation of HAG can be described as expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of HAG is on the same level as its industry peers.
  • Compared to an average S&P500 Price/Earnings ratio of 26.25, HAG is valued quite expensively.
  • The Price/Forward Earnings ratio is 38.57, which means the current valuation is very expensive for HAG.
  • HAG's Price/Forward Earnings ratio is in line with the industry average.
  • The average S&P500 Price/Forward Earnings ratio is at 24.39. HAG is valued rather expensively when compared to this.
Industry RankSector Rank
PE 51.34
Fwd PE 38.57
HAG.DE Price Earnings VS Forward Price EarningsHAG.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as HAG.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as HAG.
Industry RankSector Rank
P/FCF 44.17
EV/EBITDA 25.17
HAG.DE Per share dataHAG.DE 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 HAG does not grow enough to justify the current Price/Earnings ratio.
  • HAG's earnings are expected to grow with 18.77% in the coming years. This may justify a more expensive valuation.
PEG (NY)6.25
PEG (5Y)0.68
EPS Next 2Y15.36%
EPS Next 3Y18.77%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

1

5. HAG.DE Dividend Analysis

5.1 Amount

  • With a yearly dividend of 0.77%, HAG is not a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 0.76, HAG has a dividend in line with its industry peers.
  • With a Dividend Yield of 0.77, HAG pays less dividend than the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 0.77%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years1
Div Non Decr Years4
HAG.DE Yearly Dividends per shareHAG.DE Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 2026 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

  • 79.45% of the earnings are spent on dividend by HAG. This is not a sustainable payout ratio.
DP79.45%
EPS Next 2Y15.36%
EPS Next 3Y18.77%
HAG.DE Yearly Income VS Free CF VS DividendHAG.DE 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
HAG.DE Dividend Payout.HAG.DE Dividend Payout, showing the Payout Ratio.HAG.DE Dividend Payout.PayoutRetained Earnings

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HAG.DE Fundamentals: All Metrics, Ratios and Statistics

HENSOLDT AG

FRA:HAG (3/11/2026, 10:35:14 AM)

74.95

-2.6 (-3.35%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)02-26
Earnings (Next)05-06
Inst Owners34.89%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap8.66B
Revenue(TTM)3.32B
Net Income(TTM)73.00M
Analysts69.47
Price Target92.53 (23.46%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.77%
Yearly Dividend0.4
Dividend Growth(5Y)N/A
DP79.45%
Div Incr Years1
Div Non Decr Years4
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)2
Avg Revenue beat(2)1.43%
Min Revenue beat(2)0.11%
Max Revenue beat(2)2.75%
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)0.43%
PT rev (3m)0.35%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.61%
EPS NY rev (1m)-5.05%
EPS NY rev (3m)-2.97%
Revenue NQ rev (1m)1.43%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.8%
Revenue NY rev (3m)-1.8%
Valuation
Industry RankSector Rank
PE 51.34
Fwd PE 38.57
P/S 2.61
P/FCF 44.17
P/OCF 21.75
P/B 10.27
P/tB N/A
EV/EBITDA 25.17
EPS(TTM)1.46
EY1.95%
EPS(NY)1.94
Fwd EY2.59%
FCF(TTM)1.7
FCFY2.26%
OCF(TTM)3.45
OCFY4.6%
SpS28.76
BVpS7.3
TBVpS-8.27
PEG (NY)6.25
PEG (5Y)0.68
Graham Number15.48
Profitability
Industry RankSector Rank
ROA 1.47%
ROE 8.66%
ROCE 7.27%
ROIC 5.5%
ROICexc 6.71%
ROICexgc 26.41%
OM 6.44%
PM (TTM) 2.2%
GM 20.53%
FCFM 5.9%
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%
ROICexgc growth 3Y-15.34%
ROICexgc 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-Score5
Asset Turnover0.67
Health
Industry RankSector Rank
Debt/Equity 1.84
Debt/FCF 8.13
Debt/EBITDA 3.9
Cap/Depr 110.38%
Cap/Sales 6.08%
Interest Coverage 2.89
Cash Conversion 100.25%
Profit Quality 268.49%
Current Ratio 1.22
Quick Ratio 0.76
Altman-Z 2.3
F-Score5
WACC8.34%
ROIC/WACC0.66
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%-41.18%
EPS Next Y8.22%
EPS Next 2Y15.36%
EPS Next 3Y18.77%
EPS Next 5Y23.32%
Revenue 1Y (TTM)17.51%
Revenue growth 3Y14.96%
Revenue growth 5Y14.99%
Sales Q2Q%12.12%
Revenue Next Year8.91%
Revenue Next 2Y9.76%
Revenue Next 3Y12.03%
Revenue Next 5Y15.73%
EBIT growth 1Y19.55%
EBIT growth 3Y13.15%
EBIT growth 5Y23.93%
EBIT Next Year47.78%
EBIT Next 3Y26.97%
EBIT Next 5Y25.72%
FCF growth 1Y317.02%
FCF growth 3Y-16.94%
FCF growth 5Y110.7%
OCF growth 1Y174.48%
OCF growth 3Y1.41%
OCF growth 5Y30.26%

HENSOLDT AG / HAG.DE FAQ

Can you provide the ChartMill fundamental rating for HENSOLDT AG?

ChartMill assigns a fundamental rating of 4 / 10 to HAG.DE.


What is the valuation status for HAG stock?

ChartMill assigns a valuation rating of 2 / 10 to HENSOLDT AG (HAG.DE). This can be considered as Overvalued.


What is the profitability of HAG stock?

HENSOLDT AG (HAG.DE) has a profitability rating of 3 / 10.


What is the financial health of HENSOLDT AG (HAG.DE) stock?

The financial health rating of HENSOLDT AG (HAG.DE) is 2 / 10.


What is the earnings growth outlook for HENSOLDT AG?

The Earnings per Share (EPS) of HENSOLDT AG (HAG.DE) is expected to grow by 8.22% in the next year.