Largest Defense Systems Public Companies in Germany

Company	HQ	Description	Sectors	Stock Price	1Y Perf.	Market Cap	EV	EV/Revenue	EV/EBITDA
Rheinmetall		Rheinmetall is an international group active in various markets with l…Rheinmetall is an international group active in various markets with leading technological products and services. The sales focus is on the security technology and mobility segments. Since February 2021, the group structure has been made up of five divisions-vehicle systems, weapons and ammunition, electronic solutions, sensors and actuators, and materials and trade. The vehicle systems, weapons and ammunition, and electronic solutions divisions are among the defense and security industry's leading suppliers of innovative products to German and international defense forces. The sensors and actuators and materials and trade divisions' core area of expertise is the reduction of emissions, pollutants and fuel consumption.	Defense Systems+1	$1,429	-34%	$66B	$66B	5.7x	25.1x
Hensoldt		Hensoldt, founded in 2017 and headquartered in Taufkirchen, Germany, c…Hensoldt, founded in 2017 and headquartered in Taufkirchen, Germany, completed its initial public offering on Sept. 25, 2020, on Deutsche Börse AG. The company specializes in defense and security electronics, operating across two main segments: sensors and optronics, with the majority of its revenue generated by the sensors division. Hensoldt has deep roots and its strongest market presence in Germany, but it also maintains production sites in France, the United Kingdom, and South Africa. Its sales footprint extends across Europe, the Middle East, Asia-Pacific, North America, Africa, Latin America, and other regions.	Defense Systems+1	$104	-2%	$12B	$13B	4.9x	29.3x
TKMS		Tkms Ag & Co KGaA is an international maritime industrial group. The c…Tkms Ag & Co KGaA is an international maritime industrial group. The company is a system provider in submarine and surface vessel construction, in the field of maritime electronics and security technology and in solutions in the non-military sector. Its portfolio includes the development and manufacture of conventional submarines, specialized submarines such as frigates and corvettes and specialized civilian vessels. The business activities of TKMS comprise the three operating units (i) Submarines, (ii) Surface Vessels and (iii) Atlas Electronics. The majority of the company's revenue is derived from the Submarines segment, which comprises the construction (including design, procurement, and manufacturing) of non-nuclear submarines for use in coastal and offshore areas.	Defense Systems+2	$91	--	$6B	$4B	1.8x	16.9x
Theon		Theon International PLC is engaged in providing Night Vision and Therm…Theon International PLC is engaged in providing Night Vision and Thermal Imaging Systems for military and security applications. The main product lines of the company include Night Vision Monoculars and Binoculars, Family of Night Vision Sights, Clip-on Night Sights, Night Driver's Viewers, Digital day and night cameras, and upgrade kits for armoured vehicles, Thermal Stand-alone and Clip-on uncooled Sights, and Vehicle and Platform-based Thermal imaging systems. The Group has one operating business segment, Optronics.	Defense Systems	$37	+0%	$3B	$3B	5.2x	19.5x
Heckler & Koch		H&K AG develops, manufactures, and, together with its subsidiaries, ma…H&K AG develops, manufactures, and, together with its subsidiaries, markets and distributes infantry and sidearms for governmental security forces. The company offers its products to the security forces, the police, and special forces of NATO and NATO-associated states. The products include Rifles, Submachine guns, Machine guns, Pistols, Development services, and Other products and services. The segments of the company are Germany, USA-Commercial, USA-Defence, Great Britain and France.	Defense Systems	$37	-74%	$1B	$1B	3.1x	19.7x
Vincorion		Vincorion SE is a developer and manufacturer of energy and Mechatronic…Vincorion SE is a developer and manufacturer of energy and Mechatronics solutions for defense platforms and modern technologies Aviation systems, with a focus on new energy systems, including Generators, electric motors and drives, power units, Power electronics, and hybrid energy systems. The company's products include: Vehicle Systems; Power Systems; and Aviation. The services provided are: Lifecycle Support, Spare Parts & MRO, and Knowledge & Training.	Defense Systems+1	--	--	$1B	$1B	3.9x	20.2x
Median				$91	-18%	$4B	$3B	4.4x	19.9x

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