Rheinmetall AG (RHM) - Net Assets
Based on the latest financial reports, Rheinmetall AG (RHM) has net assets worth €5.15 Billion EUR (≈ $6.02 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€15.66 Billion ≈ $18.31 Billion USD) and total liabilities (€10.51 Billion ≈ $12.28 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check RHM financial resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €5.15 Billion |
| % of Total Assets | 32.9% |
| Annual Growth Rate | 11.57% |
| 5-Year Change | 117.44% |
| 10-Year Change | 185.79% |
| Growth Volatility | 12.83 |
Rheinmetall AG - Net Assets Trend (2013–2024)
This chart illustrates how Rheinmetall AG's net assets have evolved over time, based on quarterly financial data. Also explore RHM total asset value for the complete picture of this company's asset base.
Annual Net Assets for Rheinmetall AG (2013–2024)
The table below shows the annual net assets of Rheinmetall AG from 2013 to 2024. For live valuation and market cap data, see Rheinmetall AG market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | €4.46 Billion ≈ $5.22 Billion |
+22.54% |
| 2023-12-31 | €3.64 Billion ≈ $4.26 Billion |
+18.16% |
| 2022-12-31 | €3.08 Billion ≈ $3.60 Billion |
+17.63% |
| 2021-12-31 | €2.62 Billion ≈ $3.06 Billion |
+27.67% |
| 2020-12-31 | €2.05 Billion ≈ $2.40 Billion |
-9.60% |
| 2019-12-31 | €2.27 Billion ≈ $2.66 Billion |
+4.56% |
| 2018-12-31 | €2.17 Billion ≈ $2.54 Billion |
+11.10% |
| 2017-12-31 | €1.96 Billion ≈ $2.29 Billion |
+9.77% |
| 2016-12-31 | €1.78 Billion ≈ $2.08 Billion |
+14.02% |
| 2015-12-31 | €1.56 Billion ≈ $1.83 Billion |
+30.49% |
| 2014-12-31 | €1.20 Billion ≈ $1.40 Billion |
-10.60% |
| 2013-12-31 | €1.34 Billion ≈ $1.57 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Rheinmetall AG's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 183.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €3.25 Billion | 80.17% |
| Other Components | €803.00 Million | 19.83% |
| Total Equity | €4.05 Billion | 100.00% |
Rheinmetall AG Competitors by Market Cap
The table below lists competitors of Rheinmetall AG ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Baker Hughes Co
NASDAQ:BKR
|
$62.90 Billion |
|
Bajaj Finance Limited
NSE:BAJFINANCE
|
$62.99 Billion |
|
Elevance Health Inc
NYSE:ELV
|
$63.54 Billion |
|
ENGIE ADR/1 EO 1
F:GZFB
|
$63.66 Billion |
|
Apollo Global Management LLC Class A
NYSE:APO
|
$62.77 Billion |
|
Air Products and Chemicals Inc
NYSE:APD
|
$62.29 Billion |
|
Valero Energy Corporation
NYSE:VLO
|
$62.18 Billion |
|
NetEase Inc
F:NEH
|
$62.10 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Rheinmetall AG's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,316,000,000 to 4,050,000,000, a change of 734,000,000 (22.1%).
- Net income of 717,000,000 contributed positively to equity growth.
- Dividend payments of 248,000,000 reduced retained earnings.
- Other factors increased equity by 265,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €717.00 Million | +17.7% |
| Dividends Paid | €248.00 Million | -6.12% |
| Other Changes | €265.00 Million | +6.54% |
| Total Change | €- | 22.14% |
Book Value vs Market Value Analysis
This analysis compares Rheinmetall AG's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 14.53x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 31.65x to 14.53x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | €42.82 | €1355.20 | x |
| 2018-12-31 | €47.02 | €1355.20 | x |
| 2019-12-31 | €49.32 | €1355.20 | x |
| 2020-12-31 | €43.71 | €1355.20 | x |
| 2021-12-31 | €55.84 | €1355.20 | x |
| 2022-12-31 | €64.82 | €1355.20 | x |
| 2023-12-31 | €76.37 | €1355.20 | x |
| 2024-12-31 | €93.24 | €1355.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Rheinmetall AG utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.70%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.35%
- • Asset Turnover: 0.68x
- • Equity Multiplier: 3.54x
- Recent ROE (17.70%) is above the historical average (10.84%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 2.31% | 0.66% | 0.91x | 3.88x | €-96.50 Million |
| 2014 | 1.61% | 0.38% | 0.89x | 4.71x | €-93.90 Million |
| 2015 | 10.12% | 2.91% | 0.90x | 3.84x | €1.80 Million |
| 2016 | 11.86% | 3.57% | 0.91x | 3.63x | €31.40 Million |
| 2017 | 12.20% | 3.80% | 0.95x | 3.37x | €40.40 Million |
| 2018 | 15.09% | 4.96% | 0.91x | 3.34x | €102.90 Million |
| 2019 | 15.76% | 5.36% | 0.84x | 3.49x | €122.50 Million |
| 2020 | -1.43% | -0.46% | 0.81x | 3.85x | €-215.80 Million |
| 2021 | 12.03% | 5.14% | 0.73x | 3.20x | €49.20 Million |
| 2022 | 16.68% | 7.32% | 0.79x | 2.88x | €187.80 Million |
| 2023 | 16.13% | 7.46% | 0.61x | 3.53x | €203.40 Million |
| 2024 | 17.70% | 7.35% | 0.68x | 3.54x | €312.00 Million |
Industry Comparison
This section compares Rheinmetall AG's net assets metrics with peer companies in the Aerospace & Defense industry.
Industry Context
- Industry: Aerospace & Defense
- Average net assets among peers: $13,074,360,597
- Average return on equity (ROE) among peers: 1.02%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Rheinmetall AG (RHM) | €5.15 Billion | 2.31% | 2.04x | $62.87 Billion |
| CREOTECH INS.S.A. ZY -10 (5OB) | $91.37 Million | -15.70% | 0.89x | $407.03 Million |
| Airbus SE (AIRA) | $5.99 Billion | -22.74% | 18.10x | $133.51 Billion |
| AviChina Industry & Technology Company Limited (AVT) | $21.81 Billion | 3.27% | 1.34x | $2.64 Billion |
| Yangzijiang Shipbuilding (Holdings) Ltd (B8O) | $32.26 Billion | 26.78% | 0.81x | $10.48 Billion |
| BAE SYSTEMS ADR/4 LS-025 (BSPA) | $10.72 Billion | 17.32% | 1.99x | $76.97 Billion |
| Embraer S.A (EMY) | $4.18 Billion | 5.90% | 1.85x | $10.07 Billion |
| COSCO SHIPPING Development Co. Ltd. (EZ5) | $29.28 Billion | 4.81% | 3.30x | $468.50 Million |
| LEONARDO ADR 1/2/EO 440 (FMN) | $6.46 Billion | 9.08% | 3.40x | $33.03 Billion |
| CSSC Offshore & Marine Engineering (Group) Co Ltd (GSZ) | $19.61 Billion | 0.25% | 1.59x | $1.00 Billion |
| Hensoldt AG (HAG) | $346.80 Million | -18.80% | 7.50x | $9.67 Billion |
About Rheinmetall AG
Rheinmetall AG provides mobility and security technologies in Germany, Rest of Europe, North, Middle, and South America, Asia and the Near East, and internationally. It operates through the Vehicle Systems, Weapon and Ammunition, Electronic Solutions, Power Systems, and Others segments. The Vehicle Systems segment offers combat, logistics, support, and special vehicles, including armored tracked … Read more