Rheinmetall Stock Soars Tenfold Since Start of Ukraine War

Germany's largest arms manufacturer sees unprecedented growth driven by rising defense spending and high demand for military equipment.

Rheinmetall's share price has increased from €96.8 in February 2022 to €968 in February 2025, reflecting a tenfold rise.
The company's growth is fueled by supplying weapons to Ukraine and increased defense investment by NATO countries fearing Russian aggression.
Rheinmetall's order backlog has more than doubled since 2021, reaching €52 billion by late 2024, with further growth anticipated.
Expanded production capacity, including its largest facility in Unterlüß, supports rising demand for tanks, ammunition, and digitalized infantry equipment.
Analysts predict continued growth due to Europe's push for military modernization and reduced reliance on U.S. defense suppliers.