Hensoldt stock falls 3.48 percent as orders double in H1 2026

Hensoldt stock (ISIN DE000HAG0005) fell 3.48 percent to EUR 76.54 on Xetra on September 24, 2026. The move contrasts with first-half revenue of EUR 1.167 billion, up 23.6 percent year over year, and order intake of EUR 2.812 billion.

Orders doubled in H1 2026

According to Börse Express, Hensoldt doubled order intake from EUR 1.405 billion in the first half of 2025 to EUR 2.812 billion in the first half of 2026. The order backlog moved above EUR 10 billion for the first time, giving the company a larger forward workload than its current revenue base.

The operating figures also improved. Adjusted EBITDA rose 28.5 percent to EUR 137 million in H1 2026, and the adjusted EBITDA margin increased from 11.3 percent to 11.8 percent, according to Börse Express.

Optronics adds a second growth engine

Optronics supplied a notable part of the acceleration. Its order intake increased from EUR 164 million to EUR 971 million between the first halves of 2025 and 2026, while segment EBITDA rose from EUR 1 million to EUR 24 million.

The larger Sensors segment also reported a 16.9 percent revenue increase in H1 2026. The combination matters because the order surge is spread across radar, electronic warfare, vehicle systems and optronics rather than resting on one disclosed program.

Stock trades below its yearly high

At EUR 76.54 on September 24, 2026, the Xetra quote stood EUR 41.16 below the 52-week high of EUR 117.70 and EUR 13.36 above the low of EUR 63.18. Market capitalization was EUR 8.840 billion on the same date.

Hensoldt's investor-relations calendar lists the 9M 2026 quarterly statement for November 5, 2026. The next test for the stock is whether the substantial order intake converts into revenue and margin progress during the second half.

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