OHB SE (OHB) AI Stock Analysis

• Market Cap: €5.72B
• Dividend Yield: 0.51%
• Average Volume (3M): 14.06K
• Price to Earnings (P/E): 863.5
• Beta (1Y): 1.19
• Revenue Growth: 10.80%
• EPS Growth: -91.79%
• Country: DE
• Employees: 3,466
• Sector: General
• Sector Strength: N/A
• Industry: Aerospace & Defense
• EPS (TTM): 0.65
• Shares Outstanding: 19,214,905
• 10 Day Avg. Volume: 16,867
• 30 Day Avg. Volume: 14,060
• PEG Ratio: 46.69
• Price to Book (P/B): 2.31
• Price to Sales (P/S): 0.92
• P/FCF Ratio: 6.35
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 59 Neutral
• Price Target: €312.00 ▲(140.00% Upside)

The score is held back primarily by weak profitability/cash-flow quality and an extremely high P/E valuation. These are partially offset by improved leverage and strong bullish price momentum, though technical indicators suggest the stock is overbought in the near term.

Positive Factors

Contract diversification & ESA participation

OHB's mix of government, international and commercial contracts plus ESA participation and long-term service agreements provides durable revenue visibility and lowers demand cyclicality. This creates multi-year backlog potential and supports steady engineering investment and program continuity.

Low leverage

A very low debt-to-equity ratio gives OHB financial flexibility in a capital-intensive sector, easing interest burden and enabling competitive bidding on large programs. Reduced leverage supports resilience through program delays and preserves capacity for strategic investments or acquisitions.

Gross margin and steady revenue growth

Sustained top-line growth alongside a healthy gross margin indicates product and engineering pricing strength. This combination supports reinvestment in R&D and production capabilities, helping maintain technological competitiveness in satellite and spacecraft manufacturing over the medium term.

Negative Factors

Very low net profitability

Extremely low net margins and ROE signal limited returns from core operations. Over time this constrains the firm's ability to self-fund growth, reduces appeal to equity providers, and raises vulnerability to cost inflation or contract pricing pressure in a competitive aerospace market.

Weak cash conversion & FCF decline

Poor conversion of accounting profits into operating cash and a sharp drop in free cash flow weaken the company's capacity to fund programs, pay suppliers, and invest in new builds without external financing. This raises execution and liquidity risk across multi-year projects.

Low operating margins

Modest EBIT and EBITDA margins limit cushion against contract overruns and reduce resources for R&D and capital spending. In a high fixed-cost, technically demanding industry, persistently low operating margins impair competitiveness and make profit recovery dependent on structural improvements.

OHB SE Business Overview & Revenue Model

Company Description

OHB SE operates as a space and technology company in Germany, rest of Europe, and internationally. The company operates through three segments, Space Systems, Aerospace, and Digital segments. It produces and distributes products and projects, as well as provides technology services primarily in the areas of space and aeronautic technology, telematics, and satellite services. The Space Systems segment focuses on developing and executing space projects. This segment primarily develops and manufactures low-orbiting and geostationary small satellites for navigation, research, communications, and earth and weather observation and reconnaissance, including scientific payloads; undertakes projects for the assembly and outfitting of the International Space Station; and prepares studies and models for exploring solar system, such as the moon, asteroids, and Mars. The Aerospace segment is involved in assembling and developing aviation and space products; and other industrial activities. The Digital segment provides mechatronic systems for antennas and telescopes; various radio telescope projects; and operation of space-borne systems, digital applications based on satellite data as well as information technology and cybersecurity. The company is headquartered in Bremen, Germany.

How the Company Makes Money

OHB SE generates revenue through various streams, primarily by providing satellite and space system solutions to government agencies, international organizations, and commercial customers. Key revenue streams include contracts for the design, manufacture, and operation of satellites, as well as participation in large-scale European Space Agency (ESA) projects and programs. The company also benefits from partnerships with other aerospace firms and research institutions, which enhance its technological capabilities and market reach. Additionally, OHB engages in long-term service agreements and maintenance contracts, providing further financial stability and recurring income.

OHB SE Financial Statement Overview

Summary

Moderate revenue growth (4.7% TTM) and improved leverage (debt-to-equity 0.11) support financial stability, but very low net margin (0.5%) and ROE (1.4%) point to weak profitability. Cash generation is a concern with sharp free cash flow decline (-51% TTM) and low operating cash flow conversion (OCF/net income 0.15).

Income Statement

OHB SE shows a moderate revenue growth rate of 4.7% in the TTM, indicating a positive trend compared to the previous year. The gross profit margin is healthy at 19.1%, but the net profit margin is quite low at 0.5%, suggesting limited profitability. The EBIT and EBITDA margins are modest at 2.5% and 6.2% respectively, reflecting operational efficiency challenges.

Balance Sheet

The company has improved its debt-to-equity ratio to 0.11 in the TTM, indicating reduced leverage and a stronger equity position. The return on equity is low at 1.4%, suggesting limited returns for shareholders. The equity ratio is not directly provided, but the balance sheet shows a stable financial structure with a focus on reducing debt.

Cash Flow

OHB SE's cash flow performance is mixed, with a significant decline in free cash flow growth by 51% in the TTM. The operating cash flow to net income ratio is 0.15, indicating challenges in converting income into cash. However, the free cash flow to net income ratio is relatively strong at 0.86, showing some ability to generate cash relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.13B	1.00B	1.05B	944.52M	905.00M	880.32M
Gross Profit	201.98M	174.79M	417.51M	368.67M	370.34M	360.88M
EBITDA	73.16M	58.78M	161.35M	99.92M	84.84M	72.58M
Net Income	6.14M	-196.00K	71.29M	32.24M	27.50M	20.87M
Balance Sheet
Total Assets	1.57B	1.40B	1.34B	1.08B	960.85M	912.08M
Cash, Cash Equivalents and Short-Term Investments	53.45M	124.89M	149.86M	128.87M	98.64M	93.99M
Total Debt	303.38M	195.41M	329.20M	254.94M	209.90M	168.55M
Total Liabilities	1.12B	972.06M	902.06M	787.26M	708.23M	688.75M
Stockholders Equity	409.30M	396.95M	409.01M	268.76M	234.54M	206.13M
Cash Flow
Free Cash Flow	56.82M	144.51M	-85.57M	-11.36M	-39.94M	22.97M
Operating Cash Flow	77.11M	159.77M	-61.80M	9.12M	-17.35M	44.12M
Investing Cash Flow	-17.39M	-11.67M	-19.50M	-23.25M	1.87M	-16.28M
Financing Cash Flow	-29.31M	-169.84M	116.69M	23.10M	18.81M	-20.20M

OHB SE Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 130.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:OHB, the sentiment is Positive. The current price of 130 is below the 20-day moving average (MA) of 168.63, below the 50-day MA of 133.16, and above the 200-day MA of 94.35, indicating a bullish trend. The MACD of 36.54 indicates Negative momentum. The RSI at 85.97 is Negative, neither overbought nor oversold. The STOCH value of 83.22 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:OHB.

OHB SE Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JEN	76 Outperform	€1.53B	18.78	7.17%	1.97%	-5.27%	-13.70%
MTX	76 Outperform	€20.14B	23.48	24.74%	0.62%	45.24%	―
HAG	68 Neutral	€9.66B	78.75	15.96%	0.68%	14.89%	619.09%
GIL	68 Neutral	€3.79B	30.13	8.88%	2.19%	-13.98%	45.95%
RHM	63 Neutral	€81.74B	94.52	21.48%	0.53%	24.61%	45.20%
OHB	59 Neutral	€5.72B	863.47	1.49%	0.51%	10.80%	-91.79%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%