Hensoldt AG Ordinary Shares

HAG: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Hensoldt Earnings: We Cut Fair Value Estimate 8% to EUR 92 as German Award Timing Grows Less Certain

Loredana Muharremi

Nov 9, 2026

Hensoldt’s nine-month revenue rose 21% and adjusted EBITDA grew 33%. The company raised its 2026 sales outlook to about EUR 2.8 billion and expects a 19% adjusted EBITDA margin. The EUR 1.1 billion-plus Pegasus award is now expected in early 2027.

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Hensoldt AG Ordinary Shares

Hensoldt Earnings: We Cut Fair Value Estimate 8% to EUR 92 as German Award Timing Grows Less Certain

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