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Rocket Lab Corporation

RKLB Industrials Aerospace & Defense

Rocket Lab Corporation’s revenue for fiscal 2025 (year ended December 2025) was $601.8 million, up 38.0% from fiscal 2024.

Revenue
+62.0%
EPS
+38.5%
Free cash flow
−99.7%
Total debt
−93.2%

Quarter to June 2026, against a year earlier

46.65 5.72 −10.92%
Market cap
$27.5B
P/E
0.0×
Fwd P/E
−199×
Dividend yield
—
F-score
5/9
Altman Z
36.71
Beneish M
−2.24
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Insider Decisions last twelve months

Sold, $m 681.72
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 8 4 — 5 — 9 2 1 7 1 1 2
Insider Ownership 6.41%

Capital & Financial Ratios $m

Size
Market Cap 27,520.00
Revenue ttm 769.15
Net income ttm (165.46)
Free cash flow ttm (370.17)
Net debt Q (2,272.87)
Valuation
P/E 0.00
Forward P/E (199.00) (negative: loss-making)
Price / sales 38.19 (above 10: high)
Forward P/S Powerpack
Price / FCF 0.00
Price / book 8.41 (above 6: high)
Financial health
Current ratio Q 5.48 (at or above 1.5: strong)
Debt / equity Q 0.01 (at or below 0.5: strong)
Interest coverage Q (98.99)
Growth
Revenue growth Q +61.99% (above 0%: growing)
Operating income growth Q +3.56% (above 0%: growing)
EPS, this year +22.72% (at or above 15%: strong)
EPS, next year A +85.43% (at or above 15%: strong)
Revenue, next year A +59.39% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 35.3×, against a ten-year median of 21.0×; over the ten years it ranged from 6.3× in 2024 to 126× in 2026.
P/S against its own 10 years 66.43%
10-year low 10-year high
P/B against its own 10 years 56.78%
10-year low 10-year high
EV/Sales against its own 10 years 66.12%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 245 419 1,017 2,302
Receivables 35 36 39 113
Inventory 108 119 158 267
Other 22 63 62 94
477 693 1,366 2,896
2023 2024 2025 Q'26
Payables 29 53 73 75
ST’ Debt 18 12 — —
Other 154 234 217 380
223 340 334 528

Compound Annual Growth %

10y 5y 3y
Sales — 76.47% 41.82%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 73.91% 36.76%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.03 Actual −0.03

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 −0.05 0.01 Beat by 0.06
Q4 FY25 −0.05 −0.07 Miss by 0.02
Q1 FY26 −0.04 −0.02 Beat by 0.02
Q2 FY26 −0.03 −0.03 Met by 0.00
Q3 FY26 −0.02 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.07) (0.08) — — —
’25 (0.12) (0.13) (0.03) (0.09) (0.37)
’24 (0.09) (0.08) (0.10) (0.10) (0.38)
’23 (0.10) (0.10) (0.08) (0.10) (0.38)
’22 (0.06) (0.08) (0.07) (0.08) (0.29)
’21 (0.20) (0.21) (0.39) 0.24 (0.56)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 200 234 — — —
’25 123 144 155 180 602
’24 93 106 105 132 436
’23 55 62 68 60 245
’22 41 55 63 52 211
’21 18 11 5 27 62
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (50) (84) — — —
’25 (54) (23) (24) (65) (166)
’24 (3) (13) (31) (2) (49)
’23 (25) (6) (25) (42) (99)
’22 (26) (38) (23) (19) (107)
’21 (15) (21) (13) (22) (72)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (77) (110) — — —
’25 (83) (55) (69) (114) (321)
’24 (22) (18) (41) (23) (103)
’23 (38) (17) (46) (49) (150)
’22 (33) (51) (31) (34) (149)
’21 (20) (23) (19) (36) (97)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 49.2% a year for ten years.

Implied
49.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — — 35 62 211 245 436 602 769 +76.5% 959 1,325 1,742 +42.5%
Gross margin, % — — — — (33.61) (3.04) 9.00 21.02 26.63 34.43 37.26 +68.0 pt
EBT — — — — (55) (125) (133) (179) (189) (226) (192) +32.9%
EBT margin, % — — — — (155.11) (200.59) (63.01) (73.15) (43.42) (37.54) (24.93) +117.6 pt
Net income — 0 — — (55) (117) (136) (183) (190) (198) (165) n/m
Per share, $
Per share, $ Revenue — — — — 0.47 0.30 0.45 0.51 0.88 1.13 1.22 +19.5%
Earnings — — — — (0.73) (0.56) (0.29) (0.38) (0.38) (0.37) (0.27) (12.7%)
Cash flow — — — — (0.37) (0.34) (0.23) (0.21) (0.10) (0.31) (0.35) (3.3%)
Capex — — — — (0.33) (0.12) (0.09) (0.11) (0.11) (0.29) (0.23) (2.5%)
Free cash flow — — — — (0.70) (0.46) (0.32) (0.31) (0.21) (0.61) (0.59) (2.9%)
Book value — — — — 1.44 3.33 1.44 1.15 0.77 3.24 5.55 +17.7%
Shares, m — — — — 75 210 466 482 496 531 574 +47.7%
Valuation, ×
Valuation, × P/E — — — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S — — — — 0.00 41.41 8.55 10.46 28.96 61.51 38.19 25.1
P/B — — — — 1.42 3.69 2.68 4.61 33.03 21.50 8.41 11.2
EV/Sales — — — — 0.00 31.92 6.88 9.95 28.95 60.13 35.26 23.0
EV/FCF — — — — 0.00 (20.38) (9.74) (16.24) (122.09) (112.59) (73.26) (46.8)
Cash, $m
Cash, $m Operating cash flow — — — — (28) (72) (107) (99) (49) (166) (222) +42.9%
Capex — — — — (25) (26) (42) (51) (55) (156) (148) +44.1%
Free cash flow — — — — (53) (97) (149) (150) (103) (321) (370) +43.5%
Balance, $m
Balance, $m Working capital — — — — 45 678 499 253 353 1,031 2,368 +87.3%
Net debt — — — — (24) (591) (353) (124) (3) (848) (2,273) +104.3%
Shareholders’ equity — — — — 108 698 673 555 382 1,722 3,492 +73.9%
Returns, %
Returns, % ROA — — — — (58.56) (20.08) (13.80) (18.92) (17.89) (11.30) (5.76) +47.3 pt
ROIC — — — — (40.68) (59.27) (26.41) (25.84) (31.22) (16.36) (11.46) +24.3 pt
ROE — — — — (20.69) (44.13) (19.82) (29.74) (40.59) (18.84) (7.92) +1.8 pt
People
People Employees — — — — 3 1,183 1,400 1,650 2,100 2,600 — +286.9%
Revenue/emp, $m — — — — 11.72 0.05 0.15 0.15 0.21 0.23 — (54.4%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Business profile

Updated

Rocket Lab is a space company that sells rocket launches, spacecraft, components and services for operating satellites in orbit. It serves government agencies, commercial spacecraft operators and aerospace contractors. Rocket Lab Corporation was founded in 2025, is headquartered in Long Beach, California, and is led by Chief Executive Officer Peter Beck.

Its Electron rocket launches small spacecraft into orbit on dedicated missions or alongside other payloads. Rocket Lab designs and manufactures the rocket and operates launch sites in New Zealand and Virginia. It also offers HASTE, a suborbital vehicle used to test hypersonic and other technologies. Neutron, a larger rocket intended for satellite constellations and other missions, is in development.

Rocket Lab Corporation vs peers in Aerospace & Defense (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
LHX L3Harris Technologies Inc $48.1B 23.8× 22.5× +7.09% (above 0%: growing) +37.49% (above 0%: growing) +198.13% (above 0%: growing) 26.60% 12.97% Compare
HONA Honeywell Aerospace inc. $47.4B — — — — — 36.93% 22.14% Compare
HEI.A Heico Corporation $38.9B 40.0× 50.7× +23.13% (above 0%: growing) +33.07% (above 0%: growing) +47.74% (above 0%: growing) 41.12% 25.14% Compare
HEI Heico Corporation $38.5B 53.7× 50.7× +23.13% (above 0%: growing) +33.07% (above 0%: growing) +47.74% (above 0%: growing) 41.12% 25.14% Compare
AXON Axon Enterprise, Inc $31.1B 155× 123× +35.28% (above 0%: growing) n/m +99.15% (above 0%: growing) 60.42% 5.17% Compare
ESLT Elbit Systems Ltd. $30.5B 47.9× 53.7× +15.94% (above 0%: growing) +34.42% (above 0%: growing) +113.91% (above 0%: growing) 25.32% 9.57% Compare
RKLB Rocket Lab Corporation $27.5B — (loss-making) — (loss-making) +61.99% (above 0%: growing) n/m −99.66% (below 0%: shrinking) 36.13% (24.57%)
ARXS Arxis, Inc. $20.9B — — +35.96% (above 0%: growing) — +117.42% (above 0%: growing) 54.27% 23.66% Compare
WWD Woodward, Inc. $18.1B 33.2× 32.8× +21.22% (above 0%: growing) +35.71% (above 0%: growing) −12.15% (below 0%: shrinking) 31.53% 16.66% Compare
Median of peers $34.8B 44.0× 50.7× +23.13% +34.42% +99.15% 39.03% 19.40%

All 94 Aerospace & Defense stocks →

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Citizens JMP Nov 4, 2026 Target cut — 130.00 → 90.00
Cantor Fitzgerald Nov 3, 2026 Reiterated Outperform 122.00
Citizens Nov 3, 2026 Target cut — 90.00
Barclays Oct 25, 2026 Initiated Outperform 85.00
KeyBanc Oct 25, 2026 Target cut Outperform 135.00 → 100.00
Needham Oct 20, 2026 Reiterated Buy 120.00
Goldman Sachs Oct 20, 2026 Target cut Hold 67.00
Weiss Ratings Oct 17, 2026 Reiterated Sell —
KeyCorp Oct 17, 2026 Target cut Outperform 135.00 → 100.00
Roth Capital Oct 15, 2026 Reiterated Buy 110.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 53.72%
Held by the ten largest 31.11%
Holder Shares Stake Change
Vanguard 57.39m 9.59% +2.91m
BlackRock 40.58m 6.78% +2.59m
Invesco 18.34m 3.07% +14.75m
State Street 14.44m 2.41% +517.32k
JPMorgan Chase 13.81m 2.31% +3.13m
Geode Capital Management 10.50m 1.76% −67.65k
Baillie Gifford 10.38m 1.74% −8.04m
Capital Group 7.38m 1.23% −6.57m
Morgan Stanley 6.90m 1.15% +1.51m
UBS 6.35m 1.06% +1.88m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 6 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 6.83m 23.36m 669.00
2024 20.11m 22.05m 244.00
2023 962.71k 962.71k 53.00
2022 837.82k 837.82k 36.00
2021 325.25k 325.25k 118.00

Ownership

Directors and executive officers, together 8.40% of the votes
Peter Beck 7.50% of the votes
Entities Affiliated with Khosla Ventures 6.10% of the votes
Entities Affiliated with BlackRock, Inc. 5.20% of the votes
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Rocket Lab Corporation (RKLB) Latest News

6 Nov

Impact 3 · · Simply Wall St.

5 Nov

Impact 3 · · The Motley Fool
Impact 3 · · The Motley Fool

4 Nov

Impact 3 · · TIKR
Impact 3 · · 24/7 Wall St.

3 Nov

Impact 4 · · Barchart
Impact 3 · · 24/7 Wall St.
Impact 3 · · Stocktwits

2 Nov

Impact 4 · · 24/7 Wall St.

1 Nov

Impact 3 · · 24/7 Wall St.

31 Oct

Impact 3 · · The Motley Fool

30 Oct

Impact 4 · · Stocktwits
Impact 3 · · The Motley Fool

29 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Trefis

28 Oct

Impact 4 · · Stocktwits
Impact 4 · · Stocktwits
Impact 3 · · TIKR

27 Oct

Impact 4 · · The Motley Fool
Impact 4 · · The Motley Fool
Impact 3 · · TIKR

26 Oct

Impact 4 · · Stocktwits
Impact 4 · · The Motley Fool
Impact 4 · · 24/7 Wall St.
Impact 4 · · Trefis
Impact 3 · · Zacks
Impact 3 · · 24/7 Wall St.

25 Oct

Impact 4 · · 24/7 Wall St.
Impact 4 · · Barchart

24 Oct

Impact 4 · · The Motley Fool

RKLB metrics, ten years each

stockrow.com/RKLB · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com