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OHB SE (DE:OHB)
XETRA:OHB
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OHB SE (OHB) AI Stock Analysis

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DE:OHB

OHB SE

(XETRA:OHB)

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Neutral 50 (OpenAI - 5.2)
Rating:50Neutral
Price Target:
€406.00
▲(212.31% Upside)
Action:Reiterated
Date:06/20/26
The score is held back primarily by weak and volatile cash conversion (including negative TTM free cash flow) despite acceptable revenue growth and improved leverage. Technicals add modest pressure due to negative MACD and the price sitting below the 20-day average, while valuation is a key drag given the very high P/E and low dividend yield.
Positive Factors
Sustained revenue growth
OHB shows a multi-year top-line expansion across 2021–TTM, driven by program wins and deliveries. This steady revenue trajectory supports capacity utilization, scale in engineering processes, and a more predictable project flow over the next several months, strengthening longer-term operational planning.
Negative Factors
Weak and volatile cash generation
Cash conversion is the main structural weakness: low operating cash versus reported profits and a negative TTM free cash flow reduce the firm's ability to self-fund program investments. Working-capital timing swings increase refinancing risk and limit strategic optionality over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue growth
OHB shows a multi-year top-line expansion across 2021–TTM, driven by program wins and deliveries. This steady revenue trajectory supports capacity utilization, scale in engineering processes, and a more predictable project flow over the next several months, strengthening longer-term operational planning.
Read all positive factors

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

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 long-term, project-based contracts in the space sector, with revenue recognized as it delivers engineering milestones, hardware, and integrated systems. Its key revenue streams include: (1) Space Systems: end...

OHB SE Financial Statement Overview

Summary
Revenue growth is solid and profitability has rebounded, with a generally manageable balance sheet and improving leverage. However, cash generation is the main concern: operating cash flow is low relative to profits and TTM free cash flow is negative, with high year-to-year volatility and modest/variable margins.
Income Statement
62
Positive
Balance Sheet
68
Positive
Cash Flow
38
Negative
BreakdownTTMDec 2025Dec 2024Mar 2024Dec 2022Dec 2021
Income Statement
Total Revenue1.26B1.22B1.00B1.05B944.52M905.00M
Gross Profit161.06M142.65M174.79M417.51M368.67M370.34M
EBITDA114.03M107.70M58.78M161.35M99.92M84.84M
Net Income54.45M49.53M-196.00K71.29M32.24M27.50M
Balance Sheet
Total Assets1.49B1.61B1.40B1.34B1.08B960.85M
Cash, Cash Equivalents and Short-Term Investments54.26M220.62M124.89M149.86M128.87M98.64M
Total Debt274.86M319.85M195.41M329.20M254.94M209.90M
Total Liabilities1.05B1.17B972.06M902.06M787.26M708.23M
Stockholders Equity440.48M430.71M396.95M409.01M268.76M234.54M
Cash Flow
Free Cash Flow-5.37M4.79M144.51M-85.57M-11.36M-39.94M
Operating Cash Flow19.47M28.72M159.77M-61.80M9.12M-17.35M
Investing Cash Flow-23.79M-23.57M-11.67M-19.50M-23.25M1.87M
Financing Cash Flow11.78M97.02M-169.84M116.69M23.10M18.81M

OHB SE Technical Analysis

Technical Analysis Sentiment
Positive
Last Price130.00
Price Trends
50DMA
379.19
Positive
100DMA
317.80
Positive
200DMA
215.68
Positive
Market Momentum
MACD
-3.18
Positive
RSI
50.11
Neutral
STOCH
24.24
Neutral
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 419.85, below the 50-day MA of 379.19, and below the 200-day MA of 215.68, indicating a neutral trend. The MACD of -3.18 indicates Positive momentum. The RSI at 50.11 is Neutral, neither overbought nor oversold. The STOCH value of 24.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:OHB.

OHB SE Peers Comparison

Overall Rating
UnderperformOutperform
Sector (55)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
72
Outperform
€17.93B18.1826.38%0.62%18.24%60.48%
62
Neutral
€4.80B40.7325.11%0.80%17.16%102.59%
61
Neutral
€8.37B82.6710.96%0.68%10.84%7.53%
59
Neutral
€55.97B75.2214.85%0.53%-8.66%-8.96%
55
Neutral
$6.65B3.83-15.92%6.20%10.91%7.18%
51
Neutral
€6.53B732.170.10%1.23%-6.47%
50
Neutral
€7.77B129.4312.09%0.51%22.46%1421500.00%
* General Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
DE:OHB
OHB SE
405.50
335.40
478.48%
DE:MTX
MTU Aero Engines
332.80
-34.88
-9.49%
DE:RHM
Rheinmetall
1,202.60
-520.18
-30.19%
DE:TKA
thyssenkrupp
10.50
3.89
58.94%
DE:HAG
HENSOLDT AG
72.46
-19.52
-21.22%
DE:R3NK
RENK Group AG
48.00
-17.09
-26.26%
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: Jun 20, 2026