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German maker of transmissions and propulsion systems for military tanks, naval vessels and heavy industrial equipment.
German maker of transmissions and propulsion systems for military tanks, naval vessels and heavy industrial equipment.
Supplies transmissions designed into specific tanks and ships, such as the Leopard 2, so each program win brings orders over many years plus spares and overhaul work as the vehicles age. Defense ministries buy through the vehicle makers and navies.
In one line: A German Allison Transmission for tanks and warships.
Moat: narrow (IP / patents, customer qualification, installed base). Qualified sole-source supplier of critical tank/naval transmissions in NATO programs, hard to requalify mid-program.
Headquarters: Augsburg, Germany · Founded: 1873 · Employees: 4,342
Size RENK (R3NK.DE) is a Germany Industrials company (Aerospace & Defense) with a market value of $3.84B, the 84th largest of 205 Germany companies the cockpit tracks. Shares closed at €34.20 on 6 Nov 2026.
Performance Over six months the shares fell 24.2%, against -13.8% for the median peer and +2.6% for the Germany market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 10.6% over the last twelve months (peer median +1.9%); the operating margin is 13.3% (peer median 2.7%).
Valuation It trades at 21.1× forward earnings against a peer median of 36.0× (6th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 30% a year for seven years (Req g). Recent delivered growth is +55%, so the hurdle is -25 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.4 points below its cost of capital (16.1% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.38B | €1.37B | €1.14B | €926M | €849M |
| Revenue growth | — | +20% | +23% | +9% | — |
| Gross profit | €351M | €359M | €307M | €229M | €180M |
| EBITDA | €264M | €250M | €189M | €161M | €160M |
| Net income | €99.1M | €100M | €53.3M | €32.3M | €16.1M |
| Free cash flow | €97.4M | €66.9M | €87.4M | €21.9M | €61.9M |
| Capital expenditure | €45.1M | €38.7M | €30.9M | €28.1M | €26.0M |
| Total debt | €533M | €535M | €534M | €546M | €635M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| RENK R3NK.DE | $3.84B | -24% | +11% | 13% | 21.1× | 29.8% |
| Allison Transmission ALSN | $9.65B | -6% | +71% | 20% | 11.0× | 2.6% |
| L3Harris LHX | $48.4B | -13% | +7% | 12% | 20.1× | 7.0% |
| Rolls-Royce RR..L | $140B | +6% | +19% | 18% | 28.5× | 24.6% |
| Wartsila Oyj Abp WRT1V.HE | $17.1B | -25% | -2% | 13% | 23.5× | 7.2% |
| SNT DYNAMICS 003570.KS | $446M | -59% | +9% | 8% | 8.9× | n/a |
| Twin Disc TWIN | $332M | +19% | +12% | 5% | 30.9× | 5.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | R3NK.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.7% | -0.7% | 8th highest of 21 |
| 6-month return | -24.2% | -13.8% | 6th lowest of 21 |
| Distance from 52-week high | -50.0% | -40.0% | 7th lowest of 21 |
| Revenue growth (TTM) | +10.6% | +1.9% | 9th highest of 20 |
| Operating margin | 13.3% | 2.7% | 3rd highest of 21 |
| Forward P/E | 21.1× | 36.0× | 6th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 29.8% | 22.8% | 6th most demanding of 13 |
| Growth delivered (Del g) | +54.5% | +8.0% | highest of 13 |
| Hurdle (Req g minus delivered) | -24.7 pp | +10.7 pp | least demanding of 13 |
| ROIC minus cost of capital | -1.4 pp | -3.6 pp | 7th highest of 21 |
| EV / EBITDA | 14.5× | 13.2× | 4th most expensive of 9 |
| Net debt / EBITDA | 1.5× | 1.0× | 5th most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| RENK R3NK.DE | Germany | $3.84B | -24% | +11% | 13% | 21.1× | 29.8% | +54.5% |
| Jiangxi Hongdu Aviation Industry 600316.SS | China | $3.77B | -4% | +62% | 0% | 121.0× | 53.4% | +8.0% |
| Avic (Chengdu) UAS 688297.SS | China | $3.93B | -15% | +74% | 0% | 106.5× | n/a | n/a |
| AECC Aero-engine Control 000738.SZ | China | $3.66B | -10% | -3% | 3% | 64.0× | n/a | n/a |
| Bharat Dynamics BDL.NS | India | $4.12B | -28% | -19% | 10% | 47.2× | n/a | n/a |
| Avicopter 600038.SS | China | $3.54B | -8% | -6% | 1% | 33.9× | 9.1% | +8.1% |
| Baimtec Material 688563.SS | China | $3.53B | -12% | -1% | 15% | 38.2× | 22.7% | +14.4% |
| QinetiQ QQ..L | United Kingdom | $3.51B | +26% | 0% | 10% | 15.3× | 0.1% | +8.5% |
| Firefly Aerospace FLY | United States | $3.48B | -48% | +179% | -116% | n/a | n/a | n/a |
| Archer Aviation ACHR | United States | $3.42B | -31% | n/a | -13,570% | n/a | n/a | n/a |
| Aar AIR | United States | $4.39B | -7% | +22% | 9% | 18.4× | 13.2% | +14.9% |
| Mercury Systems MRCY | United States | $4.48B | -19% | +8% | 2% | 44.2× | 59.6% | +1.3% |
| Lisi FII.PA | France | $3.27B | 0% | -8% | 10% | 22.5× | 20.4% | +7.3% |
| Inner Mongolia First Machinery 600967.SS | China | $3.22B | -10% | -7% | 0% | 26.0× | 38.2% | -5.4% |
| Anhui GreatWall Military Industry 601606.SS | China | $3.20B | -22% | -10% | -7% | n/a | n/a | n/a |
| AviChina Industry & Technology 2357.HK | Hong Kong | $3.11B | -13% | +2% | 5% | 8.1× | n/a | n/a |
| Nanchang Sanrui Intelligence Technology 301696.SZ | China | $4.87B | -14% | +29% | 45% | n/a | 36.1% | +43.7% |
| North Industries Group Red Arrow 000519.SZ | China | $2.88B | -22% | +100% | 1% | 57.5× | 23.0% | +7.5% |
| Amentum AMTM | United States | $5.20B | -13% | +11% | 4% | 8.4× | 1.7% | +23.3% |
| LIG Defense&Aerospace 079550.KS | South Korea | $5.24B | -65% | +26% | 8% | 20.0× | n/a | n/a |
| Sai MicroElectronics 300456.SZ | China | $2.75B | -45% | -59% | -99% | 65.9× | 41.7% | +1.5% |