Hensoldt AG/ADR (HNSDF)
HENSOLDT AG operates internationally, specializing in advanced electronic sensor technologies for defense and security applications. The company's extensive product range features diverse radar systems for air surveillance, airborne platforms, ground operations, security, naval and coastal monitoring, and space exploration, in addition to friend-or-foe identification systems and secure communication links, plus solutions for commercial maritime navigation. Its optronics division develops sophisticated optical-electronic systems for aerial, vehicular, surveillance, and maritime use, alongside space optics, various optronic sensor devices, and observation equipment like sights, scopes, and night-vision attachments. In the realm of electronic warfare, HENSOLDT provides signal intelligence (SIGINT) products, threat detection receivers, direction-finding tools, electronic attack/jamming devices, self-protection EW software suites, and supporting ground stations. Moreover, the company offers a comprehensive suite of avionics, including airborne computing, flight and mission data recording and management, connectivity solutions, pilot assistance, video management, unmanned system support, mission planning, data analytics, and cloud services, culminating in integrated airborne solutions. They also develop countermeasures against unmanned aerial vehicles (UAVs) and advanced command and control software. Beyond its core products, HENSOLDT delivers crucial services such as product and system support, simulation, and training. It also supplies essential ancillary components like antennas, cabling, shelters, and testing equipment. The company's headquarters are located in Taufkirchen, Germany.
Industry: Aerospace & Defense
Hensoldt AG
OTC:HNSDFIndustrials · Aerospace & Defense
Mkt Cap-
Float60.18M
O/S-
Inst Own-
SI1.6%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$2.75B
Net Income$99.54M
Total Assets$6.07B
Free Cash Flow$276.24M
Debt & Equity
Debt 62%
Equity 38%
Total Debt$1.83B
Total Equity$1.11B
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in HNSDF's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$6.07B
Liabilities$4.95B
Accounts Receivable$990.89M
Accounts Payable$660.96M
Inventory$981.94M
PP&E (Net)$732.54M
Goodwill$1.25B
Intangible Assets$786.22M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $2.75B | $2.51B | $2.07B | $1.91B | $1.65B | $1.35B | $1.25B | $1.24B |
| YoY Growth | 9.5% | 21.3% | 8.1% | 15.9% | 22.2% | 8.3% | 0.4% | - |
| Cost of Revenue | $2.16B | $1.94B | $1.6B | $1.47B | $1.28B | $1.05B | $961.38M | $1.01B |
| Gross Profit | $587.15M | $569.47M | $465.42M | $440.81M | $368.98M | $302.97M | $285.07M | $234.61M |
| Gross Margin | 21.4% | 22.7% | 22.5% | 23.1% | 22.4% | 22.4% | 22.9% | 18.9% |
| Research and Development | $46.97M | $35.8M | $33.56M | $40.28M | $35.13M | $28.08M | $34.68M | $36M |
| Selling, General, and Administrative | $312.03M | $324.45M | $256.21M | $222.64M | $203.4M | $198.48M | $180.24M | $169.6M |
| Other | $0 | $2.24M | $0 | -$1.12M | -$1.01M | -$3.13M | -$336K | $0 |
| Total Operating Expenses | $359M | $362.49M | $289.77M | $261.8M | $237.52M | $223.42M | $214.59M | $205.61M |
| Operating Income (EBIT) | $269.53M | $206.98M | $175.65M | $194.67M | $130.34M | $69.92M | $133.25M | $29M |
| Operating Margin | 9.8% | 8.3% | 8.5% | 10.2% | 7.9% | 5.2% | 10.7% | 2.3% |
| Interest Expense | $118.55M | $111.88M | $91.74M | $49.23M | $46.77M | $149.62M | $100.59M | $109.59M |
| Interest Income | $27.96M | $34.68M | $13.43M | $10.07M | $4.48M | $1.92M | $69.45M | $15.56M |
| Other Income (Expense) | -$127.5M | -$76.08M | -$73.84M | -$31.33M | -$33M | -$151.15M | -$30.66M | -$101.1M |
| Income Before Tax (EBT) | $142.03M | $130.9M | $101.81M | $145.44M | $94.99M | -$84.13M | $39.83M | -$72.1M |
| Income Tax Expense | $45.85M | $13.43M | $39.16M | $54.82M | $24.84M | -$11.97M | $30.66M | -$5.82M |
| Net Income | $99.54M | $120.83M | $60.42M | $87.27M | $70.48M | -$72.16M | $9.17M | -$67.76M |
| Net Income Margin | 3.6% | 4.8% | 2.9% | 4.6% | 4.3% | -5.3% | 0.7% | -5.5% |
| Supplementary Data | ||||||||
| EPS | 0.77 | 0.94 | 0.51 | 0.74 | 0.60 | -0.61 | 0.08 | -0.58 |
| Diluted EPS | 0.77 | 0.94 | 0.51 | 0.74 | 0.60 | -0.61 | 0.08 | -0.58 |
| Weighted Average OS | 115.49M | 115.50M | 106.00M | 105.00M | 105.00M | 105.00M | 105.00M | 104.99M |
| EBITDA | $463.18M | $424.03M | $327.81M | $298.72M | $283.06M | $176.21M | $275.78M | $176.68M |
| EBITDA Margin | 16.9% | 16.9% | 15.9% | 15.6% | 17.2% | 13.0% | 22.1% | 14.2% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $1.04B | $820.08M | $897.28M | $514.65M | $592.18M | $722.19M | $153.72M | $254.58M |
| Short-Term Investments | $1.12M | $1.12M | $1.12M | $2.24M | $5.26M | $13.76M | $4.03M | $0 |
| Cash and Short-Term Investments | $1.04B | $821.2M | $898.4M | $516.89M | $597.44M | $735.95M | $157.75M | $254.58M |
| Accounts Receivable | $990.89M | $908.47M | $705.96M | $608.63M | $562.76M | $570.92M | $524.83M | $485.21M |
| Inventory | $981.94M | $804.42M | $699.25M | $577.3M | $496.97M | $451.66M | $459.94M | $455.35M |
| Other Current Assets | $187.89M | $66.01M | $10.07M | $16.78M | $6.71M | $18.8M | $21.15M | $7.09M |
| Total Current Assets | $3.2B | $2.69B | $2.41B | $1.84B | $1.82B | $1.83B | $1.19B | $1.21B |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $732.54M | $505.7M | $368.09M | $292.01M | $278.47M | $275.9M | $277.01M | $99.77M |
| Goodwill | $1.25B | $1.25B | $736.17M | $736.17M | $728.67M | $712.9M | $712.9M | $664.41M |
| Intangible Assets | $786.22M | $746.24M | $425.14M | $429.62M | $430.74M | $431.97M | $451.1M | $0 |
| Long-Term Investments | $65.98M | $32.45M | $29.09M | $23.49M | $18.57M | -$336K | $15.78M | $15.27M |
| Deferred Tax Assets | $1.12M | $1.12M | $10.07M | $6.71M | $12.08M | $29.42M | $34.01M | $28.01M |
| Other Long-Term Assets | $30.2M | $27.97M | $321.1M | $5.59M | $8.5M | $19.58M | $67.24M | $456.37M |
| Total Long-Term Assets | $2.87B | $2.56B | $1.89B | $1.49B | $1.48B | $1.47B | $1.56B | $1.26B |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $6.07B | $5.25B | $4.3B | $3.33B | $3.3B | $3.3B | $2.75B | $2.48B |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $660.96M | $610.86M | $511.29M | $424.03M | $300.96M | $183.48M | $188.85M | $186.92M |
| Short-Term Debt | $22.38M | $24.61M | $24.61M | $12.31M | $185.72M | $406.46M | $12.64M | $3.77M |
| Current Income Tax Payable | $0 | $108.52M | $43.63M | $74.96M | $65.11M | $50.12M | $26.63M | $5.54M |
| Current Unearned Revenue | $1.28B | $898.77M | $713.75M | $545.97M | $889M | $882.73M | $644.76M | $372.34M |
| Other Current Liabilities | $447.33M | $1.33B | $958.81M | $814.49M | $834.4M | $847.94M | $633.35M | $293.09M |
| Total Current Liabilities | $2.61B | $2.11B | $1.64B | $1.35B | $1.4B | $1.5B | $876.02M | $882.38M |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $1.3B | $1.2B | $694.77M | $692.54M | $695.89M | $672.73M | $993.38M | $1.38B |
| Long-Term Unearned Revenue | $38.02M | $34.68M | $317.74M | $12.31M | $13.54M | $17.9M | $18.24M | $27.71M |
| Long-Term Deferred Tax Liabilities | $185.65M | $137.61M | $82.79M | $105.17M | $4.59M | $8.61M | $50.12M | $41.4M |
| Other Long-Term Liabilities | $350.05M | $497.87M | $742.88M | $331.16M | $567.57M | $550.23M | $471.46M | $356.04M |
| Total Long-Term Liabilities | $2.34B | $2.16B | $1.73B | $1.3B | $1.44B | $1.41B | $1.7B | $1.8B |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $4.95B | $4.26B | $3.38B | $2.64B | $2.84B | $2.91B | $2.57B | $2.68B |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $129.73M | $129.78M | $129.78M | $117.47M | $117.47M | $117.47M | $11.19M | $28K |
| Retained Earnings | $345.58M | $274.11M | $53.7M | -$61.53M | -$244.35M | -$315.05M | -$241.44M | -$246.87M |
| Comprehensive Income & Other | $142.03M | $0 | $0 | $91.74M | -$72.72M | -$96.55M | -$55.6M | $38.07M |
| Other Stockholders' Equity | $633M | $571.71M | $720.51M | $619.82M | $573.61M | $571.15M | $388.22M | $26.25M |
| Total Equity | $1.11B | $975.59M | $903.99M | $675.76M | $446.74M | $373.57M | $157.97M | -$220.59M |
| Minority Interest | $12.3M | $15.66M | $17.9M | $14.54M | $12.42M | $14.43M | $15.22M | $12.16M |
| Total Liabilities and Equity | $6.06B | $5.24B | $4.28B | $3.32B | $3.29B | $3.28B | $2.73B | $2.46B |
| Supplementary Data | ||||||||
| Total Debt | $1.83B | $1.54B | $955.46M | $882.73M | $1.06B | $1.25B | $1.19B | $1.38B |
| Net Debt | $783.99M | $718.27M | $58.18M | $368.09M | $463.85M | $529.3M | $1.03B | $1.13B |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | $99.54M | $118.59M | $64.89M | $89.5M | $70.15M | -$72.16M | $9.17M | -$67.76M |
| Depreciation & Amortization | $202.43M | $181.25M | $134.26M | $115.24M | $140.97M | $135.15M | $145M | $139.19M |
| Deferred Income Tax | $0 | $0 | $0 | $40.28M | $2.24M | -$22.49M | $20.81M | -$14.77M |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | $367.95M | -$12.31M | -$1.12M | -$42.51M | $99.57M | $5.93M | $63.1M | -$16.26M |
| Inventory | -$189.01M | -$115.24M | -$143.21M | -$83.91M | -$49.45M | $5.93M | -$19.91M | $17.28M |
| Accounts Payable | $49.21M | $79.92M | $87.27M | $123.07M | $119.71M | -$9.62M | -$14.99M | $1.02M |
| Other Working Capital | -$49.21M | $158.87M | $108.52M | $22.38M | -$57.84M | $100.69M | -$95.32M | -$62.47M |
| Total Working Capital Change | $178.94M | $31.33M | $51.46M | $19.02M | $111.99M | $102.93M | -$67.13M | -$60.43M |
| Other Non-Cash Items | $25.72M | $16.78M | $48.11M | $49.23M | $11.64M | $76.86M | $6.04M | $353.59M |
| Net Cash from Operating | $506.63M | $347.95M | $298.72M | $272.99M | $334.74M | $220.29M | $93.08M | $73.48M |
| Investing Activities | ||||||||
| Capital Expenditures | -$230.39M | -$222.64M | -$127.54M | -$106.29M | -$114.12M | -$108.97M | -$90.06M | -$67.22M |
| Acquisitions | -$5.59M | -$611.98M | -$10.07M | -$6.71M | -$20.92M | $2.35M | -$95.77M | -$18.91M |
| Purchases of Investments | -$26.84M | $0 | $0 | -$5.59M | -$7.83M | -$7.38M | -$4.36M | -$9.31M |
| Sales of Investments | $0 | $0 | $1.12M | $0 | $7.83M | $2.57M | $2.35M | $27.05M |
| Other Investing Activities | -$1.12M | $1.12M | $2.24M | $5.59M | $4.03M | $5.15M | $2.57M | $269K |
| Net Cash from Investing | -$263.94M | -$833.51M | -$136.49M | -$113M | -$131.01M | -$106.29M | -$185.27M | -$68.12M |
| Financing Activities | ||||||||
| Debt Repaid | - | -$503.46M | - | $167.82M | $201.38M | -$33.56M | -$2.69M | -$110.65M |
| Common Stock Issuance | $0 | $0 | $269.63M | $0 | -$3.36M | $335.64M | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$11.82M |
| Dividends Paid | -$64.87M | -$51.46M | -$35.8M | -$29.09M | -$15.66M | $0 | $0 | $0 |
| Other Financing Activities | -$41.38M | -$41.4M | -$10.07M | -$42.51M | -$111.88M | $90.62M | -$12.87M | -$173K |
| Net Cash from Financing | -$22.37M | $410.6M | $220.4M | -$239.42M | -$332.51M | $459.83M | -$10.18M | $98.66M |
| Forex Effect | $100.58M | -$3.36M | $0 | $2.24M | -$1.23M | -$2.8M | $1.57M | $0 |
| Net Change in Cash | $320.9M | -$77.2M | $382.63M | -$77.2M | -$130M | $568.46M | -$100.8M | $104.02M |
| Supplementary Data | ||||||||
| Operating Cash Flow | $506.63M | $347.95M | $298.72M | $272.99M | $334.74M | $220.29M | $93.08M | $73.48M |
| Capital Expenditure | -$230.39M | -$222.64M | -$127.54M | -$106.29M | -$114.12M | -$108.97M | -$90.06M | -$67.22M |
| Free Cash Flow | $276.24M | $125.31M | $171.18M | $166.7M | $220.63M | $111.32M | $3.02M | $6.26M |
| Cash at Beginning | $722.55M | $897.28M | $514.65M | $591.85M | $722.19M | $153.72M | $254.53M | $150.56M |
| Cash at End | $1.04B | $820.08M | $897.28M | $514.65M | $592.18M | $722.19M | $153.72M | $254.58M |