Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
OHB SE is a leading European space and technology group headquartered in Bremen, Germany, specializing in the development, production, and operation of complete space systems. Founded in 1958 and evolving into a space powerhouse under the Fuchs family since the 1980s, the company employs over 3,500 people across 15 locations in ten countries, delivering innovative solutions for satellites, manned spaceflight, exploration, and security technologies. Its three core business segments—Space Systems, Aerospace, and Digital—drive its operations: Space Systems focuses on low-orbiting and geostationary satellites for navigation like Galileo, Earth observation, communications, and reconnaissance such as SAR-Lupe; Aerospace produces critical components like booster structures and tanks for Ariane launchers, NASA's Space Launch System, and aircraft engines, including through subsidiary MT Aerospace; Digital handles satellite operations, ground systems, and data applications for mobility, infrastructure, and telematics. Notable projects include Meteosat weather satellites, International Space Station modules, and investments in microlaunchers via Rocket Factory Augsburg. With revenues around EUR 1 billion in 2024, OHB SE plays a pivotal role in Europe's space industry as a key supplier to ESA, national agencies, and international partners, emphasizing cost-effective small satellites and turnkey systems.
Operating margin is thin at 1.26%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 4.4% YoY. Margins deteriorated 3.3pp alongside, both lines moving the wrong way.
ROIC dropped from 6.03% to 1.43%, capital efficiency is deteriorating. Operating margin contracted 3.3pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
€1.09B
▼ -4.4% YoY
Net Income (TTM)
€34M
▼ -98.9% YoY
Op. Margin
5.47%
▼ -3.3pp YoY
ROIC
1.43%
▼ -4.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-€263M
▲ +268.9% YoY
Op. Cash Flow (TTM)
-€263M
▲ +268.9% YoY
Net Debt
€71M
Cash & Equiv.
€125M
3Y CAGR: +3.4%
Continue Research