OHB SE (OHB) AI Stock Analysis

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OHB SE

(XETRA:OHB)

Select Model

Rating:54Neutral

Price Target:EUR 196.00▲(10.73% Upside)

Action:reiterated

Date:10/29/26

The overall score is constrained by weak financial performance, particularly poor cash flow generation and compressed profit margins, which are the most significant risk factors. A very high P/E ratio further pressures the valuation, making the stock appear expensive. Positive technical momentum provides some support, but overbought signals and a price below the 200-day moving average temper this strength. The company's solid balance sheet is a key mitigating factor, preventing a lower score.

Positive Factors

Strong revenue growthStrong TTM revenue growth indicates expanding program activity and demand for OHB’s satellite and space-system capabilities. If sustained, a larger revenue base can improve resource utilization, support investment in engineering capacity, and strengthen the company’s position in future institutional and commercial tenders.

Negative Factors

Weak cash conversionNegative TTM operating cash flow of about €60m and free cash flow of about €90m indicate that accounting earnings are not currently converting into cash. Persistent cash burn can increase working-capital needs, constrain self-funded investment, and raise funding pressure during program execution.

OHB SE (OHB) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 3.73B
Dividend Yield: 0.67%
Average Volume (3M): 39.53K
Price to Earnings (P/E): 76.6
Beta (1Y): 1.37
Revenue Growth: 15.59%
EPS Growth: 614.07%
Country: Germany
Employees: 3,779
Sector: General
Sector Strength: 55
Industry: Aerospace & Defense

OHB SE Business Overview & Revenue Model

Company Description

OHB SE is a multinational space and technology enterprise, active across Germany, the wider European continent, and international territories. Its operations are organized into three principal divisions: Space Systems, Aerospace, and Digital. The fir...

How the Company Makes Money

OHB primarily makes money through contract-based revenue from designing, building, integrating, and supporting space systems. Key revenue streams typically include: (1) Satellite and space system development and manufacturing: revenue recognized over...

OHB SE Financial Statement Overview

Summary

Financial performance is mixed. The balance sheet is strong with low debt-to-equity (0.41) and growing equity, providing stability. However, the income statement shows significant margin compression (gross margin down to 11.8% TTM) and the cash flow statement reveals inconsistent generation with negative operating and free cash flow TTM. The solid balance sheet is offset by weak profitability and cash flow reliability.

Income Statement

45Neutral

Balance Sheet

80Positive

Cash Flow

30Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Mar 2024	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.28B	1.22B	1.00B	1.05B	944.52M	905.00M
Gross Profit	151.41M	142.65M	174.79M	417.51M	368.67M	370.34M
EBITDA	101.31M	107.70M	58.78M	161.35M	99.92M	84.84M
Net Income	42.95M	49.53M	-196.00K	71.29M	32.24M	27.50M
Balance Sheet
Total Assets	2.11B	1.61B	1.40B	1.34B	1.08B	960.85M
Cash, Cash Equivalents and Short-Term Investments	526.95M	220.62M	124.89M	149.86M	128.87M	98.64M
Total Debt	378.43M	319.85M	195.41M	329.20M	254.94M	209.90M
Total Liabilities	1.20B	1.17B	972.06M	902.06M	787.26M	708.23M
Stockholders Equity	914.92M	430.71M	396.95M	409.01M	268.76M	234.54M
Cash Flow
Free Cash Flow	-89.67M	4.79M	144.51M	-85.57M	-11.36M	-39.94M
Operating Cash Flow	-59.96M	28.72M	159.77M	-61.80M	9.12M	-17.35M
Investing Cash Flow	-29.35M	-23.57M	-11.67M	-19.50M	-23.25M	1.87M
Financing Cash Flow	562.78M	97.02M	-169.84M	116.69M	23.10M	18.81M

OHB SE Technical Analysis

Technical Analysis SentimentNegative

Last Price177.00

Price Trends

50DMA188.87Negative

100DMA214.39Negative

200DMA265.23Negative

Market Momentum

MACD0.89Positive

RSI40.85Neutral

STOCH17.48Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:OHB, the sentiment is Negative. The current price of 177.00 is below the 20-day moving average (MA) of 211.27, below the 50-day MA of 188.87, and below the 200-day MA of 265.23, indicating a bearish trend. The MACD of 0.89 indicates Positive momentum. The RSI at 40.85 is Neutral, neither overbought nor oversold. The STOCH value of 17.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:OHB.

OHB SE Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

DE:OHB against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DE:MTX	79Outperform	EUR 18.94B	20.08	20.01%	1.02%	12.33%	10.49%
DE:RHM	64Neutral	EUR 35.71B	41.05	16.64%	1.50%	-1.84%	-2.30%
DE:HAG	62Neutral	EUR 9.29B	57.47	16.12%	0.68%	15.96%	29.83%
DE:R3NK	57Neutral	EUR 3.28B	47.37	14.56%	1.77%	10.63%	28.99%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
DE:OHB	54Neutral	EUR 3.68B	76.62	8.18%	0.67%	15.59%	614.07%
DE:TKA	50Neutral	EUR 7.55B	26.27	3.04%	1.12%	-2.22%	―

* General Sector Average

Performance Comparison

DE:OHB and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:OHB	OHB SE	177.00	72.38	69.19%
DE:MTX	MTU Aero Engines	351.60	-1.05	-0.30%
DE:RHM	Rheinmetall AG	765.50	-940.45	-55.13%
DE:TKA	thyssenkrupp AG	12.13	3.68	43.49%
DE:HAG	HENSOLDT AG	80.42	-2.02	-2.45%
DE:R3NK	RENK Group AG	32.76	-29.89	-47.71%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 28, 2026

OHB SE AI Stock Analysis