OHB OHB.DE
GermanyIndustrials · Aerospace & DefenseXetra · EUR
304.22 EUR (+87.1%)
9 analysts
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OHB SE is a German aerospace and defense company that designs and manufactures satellites, launch systems, and components for space exploration and security and defense applications.
Listed on Xetra · Symbol OHB.DE · ETR: OHB · Currency EUR
Key points
from its scores- ✓Good share-price trend8.8
- ✓Very solid balance sheet7.0
- ✕Demanding valuation1.8
- ✕Little competitive advantage2.4
- ✕Little or no dividend4.4
AI analysis
bottom line, main risk, context and newsHold only for investors with high risk tolerance and a long-term horizon, given the potential of the space and defense sector, but with a valuation that already discounts very optimistic expectations.
OHB SE has solid financial health with net cash (Net Debt/EBITDA of -1.69), but its quality and valuation are weak: operating margin is negative (-0.05), ROIC is -0.05, and P/E is 72.91, suggesting the market is discounting future growth not yet reflected in results. Strong momentum (42.30%) indicates recent interest, but current fundamentals do not support it.
The main risk is dependence on public procurement and European government defense budgets, which can be volatile and subject to political changes, directly affecting the order book and future profitability.
Context and risks
OHB SE operates in the aerospace and defense sector, an area with high dependence on public procurement and European government defense budgets. Although Germany has announced increases in its defense spending, the company has significant exposure to the approval and renewal of government programs, introducing a regulatory and business model risk not reflected in its current financial metrics.
Is OHB stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 170% above the Industrials median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 72.9 | 25.4 | +187% |
| EV / EBITDA | 36.7 | 14.5 | +153% |
| Price / book | 3.7 | 4.1 | −9% |
| Price / sales | 2.6 | 2.1 | +28% |
Sector: median of the 388 Industrials companies analysed. In bold, the multiples used for the comparison.
Valuation score: 1.8 out of 10 (median for Industrials: 5.0).
Average analyst target: 304.22 EUR, +87.1% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 2.4 (sector 5.8), Growth 6.1 (sector 6.6).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Industrials medianValuation
- P/E
- 72.9
- Forward P/E
- 31.8
- EV / EBITDA
- 36.7
- Price / book
- 3.7
- Price / sales
- 2.6
- PEG
- 1.08
- Market cap
- 3.4B EUR
- Enterprise value
- 3.2B EUR
Profitability
- ROE
- 6.5%
- ROA
- 2.3%
- ROIC (approx.)
- −0.1%
- Gross margin
- 40.3%
- Operating margin
- −0.0%
- Net margin
- 3.4%
- Free cash flow
- −142.4M EUR
- FCF yield
- −4.2%
- Cash conversion
- −162%
Solvency
- Total debt
- 378.4M EUR
- Net debt
- −148.5M EUR
- Cash
- 526.9M EUR
- EBITDA
- 87.9M EUR
- Net debt / EBITDA
- −1.69
- Debt / equity
- 41.33
- Current ratio
- 1.84
- Quick ratio
- 1.72
Growth
- Revenue growth
- +7.0%
- EPS (TTM)
- 2.23 EUR
- EPS (forward)
- 5.11 EUR
Dividend
- Dividend yield
- 0.4%
- Payout
- 26.4%
Risk and market
- Beta
- 0.86
- Analyst consensus
- Strong buy (9)
- Target price
- 304.22 EUR
- 52-week range
- 95.00 – 685.00
Recent news
All OHB.DE news →Compare it with its sector
All 388 in Industrials →Frequently asked questions about OHB
Is OHB stock cheap or expensive?
On P/E and EV / EBITDA, it trades 170% above the Industrials median on average. Valuation score: 1.8 out of 10 (median for Industrials: 5.0). Average analyst target: 304.22 EUR, +87.1% versus the price. This is not investment advice.
What score does OHB get on MeridIAn Screener?
It scores 4.6 out of 10, rank 1,850 of 2,130 (better than 13% of the companies analysed). Its strongest category is Momentum (8.8) and its weakest, Valuation (1.8). Analysis of 08/10/2026.
What is OHB's P/E ratio?
Its P/E is 72.9: the share price equals 72.9 times earnings per share over the last 12 months. The Industrials median is 25.4. Based on the earnings analysts expect, the forward P/E is 31.8.
How much is OHB worth on the stock market?
Its market capitalisation is 3.4B EUR and its enterprise value, debt included, is 3.2B EUR.
How much debt does OHB have?
It has more cash than debt: net cash of 148.5M EUR.
Does OHB pay a dividend?
Yes: its dividend yield is 0.36% and it pays out 26% of its earnings.
How has OHB stock performed over the last year?
It has risen 31.3% over the last year, excluding dividends. Over the last 52 weeks it has traded between 95.00 and 685.00 EUR. Past performance does not guarantee future results.
What do analysts think of OHB?
9 analysts cover it; their average recommendation is “Strong buy” and their average target is 304.22 EUR (+87.1% versus the price). It is an estimate, not market data.