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OHB SE
(XETRA:OHB)
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Rating:47Neutral
Price Target:
€173.00
▼(-9.99% Downside)
Action:Reiterated
Date:09/18/26
The score is primarily held back by negative TTM operating and free cash flow despite positive earnings, alongside compressed margins versus prior peak years. Technicals also weigh on the outlook as the stock trades below key moving averages with negative MACD. Valuation further limits upside given the very high P/E and low dividend yield.
Positive Factors
Strong Revenue Growth
Strong TTM revenue growth indicates continued demand for OHB’s space systems, subsystems, and engineering work. If supported by ongoing program awards and execution, expanding revenue can strengthen customer relationships, improve scale, and provide a broader base for future earnings.
Negative Factors
Negative Cash Generation
Negative operating and free cash flow creates a material gap between reported earnings and cash realization. For a project-based company, sustained cash burn can increase funding needs, constrain investment flexibility, and make execution more dependent on milestone timing and working-capital management.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Strong TTM revenue growth indicates continued demand for OHB’s space systems, subsystems, and engineering work. If supported by ongoing program awards and execution, expanding revenue can strengthen customer relationships, improve scale, and provide a broader base for future earnings.
Read all positive factors
OHB SE (OHB) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€3.72B
Dividend Yield0.67%
Average Volume (3M)45.12K
Price to Earnings (P/E)78.4
Beta (1Y)1.35
Revenue Growth18.38%
EPS Growth642.89%
CountryDE
Employees4,094
SectorGeneral
Sector StrengthN/A
IndustryAerospace & Defense
Share Statistics
EPS (TTM)2.27
Shares Outstanding20,827,929
10 Day Avg. Volume48,784
30 Day Avg. Volume45,116
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)5.19
Price to Sales (P/S)1.84
P/FCF Ratio467.07
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€291.14Price Target Upside51.48% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)3.08
Revenue Forecast (FY)€1.42B
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 ...
How the Company Makes Money
OHB primarily makes money by executing multi‑year, contract-based space programs and delivering hardware, systems integration, and mission services to customers, with revenues typically recognized based on progress and delivery milestones defined ...
OHB SE Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
70
Positive
Cash Flow
38
Negative
| 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
Negative
192.20
Price Trends
208.12
Negative
288.72
Negative
259.75
Negative
Market Momentum
-8.79
Negative
42.37
Neutral
72.17
Neutral
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 192.2 is above the 20-day moving average (MA) of 178.85, below the 50-day MA of 208.12, and below the 200-day MA of 259.75, indicating a bearish trend. The MACD of -8.79 indicates Negative momentum. The RSI at 42.37 is Neutral, neither overbought nor oversold. The STOCH value of 72.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:OHB.
OHB SE Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | €19.99B | 21.39 | 20.01% | 0.96% | 12.33% | 10.49% | |
71 Outperform | €8.72B | 73.36 | 12.70% | 0.72% | 14.69% | 31.87% | |
69 Neutral | €3.84B | 38.49 | 20.97% | 1.54% | 10.63% | 28.99% | |
64 Neutral | €44.81B | 61.19 | 14.33% | 1.20% | -2.29% | -17.37% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €9.08B | 31.72 | 3.04% | 1.02% | -2.22% | ― | |
47 Neutral | €3.72B | 78.41 | 7.83% | 0.67% | 18.38% | 642.89% |
* General Sector Average
DE:OHB
OHB SE
178.00
75.84
74.23%
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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.