Rheinmetall AGRNMBF -5.12%79 Graham Number is $145.04 as of Mar. 2026, which is 8188% above its 10-year median of 1.75. GuruFocus rates RNMBF with a GF Score™ of 79/100 and a GF Value™ of $939.77 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 215 Aerospace & Defense companies, Rheinmetall AG ranks worse than 88.37% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-07-08), the stock price of Rheinmetall AG is $1219.00. Rheinmetall AG's graham number for the quarter that ended in Mar. 2026 was $145.04. Therefore, Rheinmetall AG's Price to Graham Number ratio for today is 8.40.
The historical rank and industry rank for Rheinmetall AG's Graham Number or its related term are showing as below:
RNMBF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.9 Med: 1.75 Max: 15.54
Current: 8.45
During the past 13 years, the highest Price to Graham Number ratio of Rheinmetall AG was 15.54. The lowest was 0.90. And the median was 1.75.
RNMBF's Price-to-Graham-Number is ranked worse than 88.37% of 215
companies
in the Aerospace & Defense industry
Industry Median: 3.07
vs RNMBF: 8.45
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Rheinmetall AG (OTCPK:RNMBF) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Rheinmetall AG's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
1219.00
/
145.04
=
8.40
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Rheinmetall AG Graham Number Related Terms
Rheinmetall AG Graham Number Historical Data
* Premium members only.
The historical data trend for Rheinmetall AG's Graham Number can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Aerospace & Defense subindustry, Rheinmetall AG's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Rheinmetall AG Price-to-Graham-Number vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Rheinmetall AG's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Rheinmetall AG's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Rheinmetall AG (RNMBF) has a Graham Number of $145.04 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Rheinmetall AG and its competitors. This is 8188% above median its historical median of 1.75. Over the past decade, Rheinmetall AG's Graham Number has ranged from 0.90 to 15.54. According to the industry distribution chart, Rheinmetall AG ranks #190 out of 215 companies in the Aerospace & Defense industry, placing it in the top 88.4%.
Is Rheinmetall AG's Graham Number too high?
Rheinmetall AG's current Graham Number of $145.04 is 8188% above median its 10-year median of 1.75. Over the past 10 years, this metric has ranged from a low of 0.90 to a high of 15.54. The Aerospace & Defense industry median Graham Number is 3.07. Rheinmetall AG's value of $145.04 is 4624.4% above this industry median. Based on the distribution chart, Rheinmetall AG ranks #190 out of 215 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Rheinmetall AG has a GF Score™ of 79/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Rheinmetall AG's Graham Number compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Rheinmetall AG ranks #190 out of 215 companies for Graham Number. This places Rheinmetall AG in the lower half of its industry. The industry median Graham Number is 3.07. Rheinmetall AG's value of $145.04 is 4624.4% above this benchmark. Historically, Rheinmetall AG's own Graham Number has ranged from 0.90 to 15.54 over the past decade. While the company's 10-year median is 1.75 vs. the industry median of 3.07, Rheinmetall AG has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for an Aerospace & Defense company?
The median Graham Number among Aerospace & Defense companies is 3.07, based on 215 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Rheinmetall AG's current Graham Number of $145.04 is 4624.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Rheinmetall AG and its competitors. For the Aerospace & Defense industry, the median Graham Number is 3.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Rheinmetall AG's current Graham Number is $145.04, which is 8188% above median its own 10-year median of 1.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Rheinmetall AG stock overvalued right now?
Based on GuruFocus' analysis, Rheinmetall AG (RNMBF) is currently considered Modestly Overvalued. The stock's GF Value™ is $939.77, compared to a current price of $1,219.00 — trading 29.7% above its estimated fair value. The current Graham Number is $145.04, which is 8188% above median its 10-year median of 1.75 and 4624.4% above the Aerospace & Defense industry median of 3.07. Rheinmetall AG's overall GF Score™ is 79/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Rheinmetall AG (RNMBF), the current Graham Number is $145.04 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Rheinmetall AG (RNMBF) Overvalued in 2026?
Based on GuruFocus' analysis, Rheinmetall AG stock appears to be overvalued.
The current stock price of $1,219.00 is trading 29.7% above its estimated GF Value™ of $939.77.
GuruFocus considers Rheinmetall AG to be Modestly Overvalued.
Key valuation signals for RNMBF:
Graham Number: $145.04 (8188% above median its 10-year median of 1.75)
GF Value™: $939.77 vs. price of $1,219.00 (29.7% above fair value)
Industry Position: 4624.4% above the Aerospace & Defense median (#190 of 215)
No single metric tells the full story. See the RNMBF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
79GF Score
Get the complete analysis for RNMBF
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
RNMBF has been successfully added to your 
