Axon Enterprise, Inc (AXON) vs Rocket Lab Corporation (RKLB)

Axon Enterprise, Inc and Rocket Lab Corporation are both Aerospace & Defense companies. Axon Enterprise, Inc is the larger, with a market value of $31.1B against $27.5B — 1.1× the size. Rocket Lab Corporation has negative trailing earnings, so its P/E is not meaningful; Axon Enterprise, Inc trades at 155×. Rocket Lab Corporation grew revenue faster over the last twelve months: 52.5% against 34.6%. Axon Enterprise, Inc has the higher net margin (6.19% vs −21.5%) and the higher return on invested capital (0.32% vs −11.5%). Across the 18 metrics below, Axon Enterprise, Inc leads on 12 and Rocket Lab Corporation on 6.

Valuation

Metric AXON RKLB Aerospace & Defense median
P/E 155.46 n/m 28.48
P/S 9.65 38.19 2.95
P/B 8.45 8.41 2.68
Price to free cash flow 235.05 n/m 31.70
EV/EBITDA 241.11 n/m 16.85
EV/Sales 9.97 35.26 2.74
Earnings yield 0.64% (0.58%) 0.89%
Free cash flow yield 0.43% (1.26%) 0.00%

Profitability

Metric AXON RKLB Aerospace & Defense median
Gross margin 59.41% 37.26% 26.41%
Operating margin 0.74% (29.06%) 3.69%
Net margin 6.19% (21.51%) 2.74%
Free cash flow margin 4.14% (48.13%) 0.00%
Return on equity 6.22% (7.92%) 4.44%
Return on assets 2.91% (5.76%) 1.90%
Return on invested capital 0.32% (11.46%) 0.26%

Growth

Metric AXON RKLB Aerospace & Defense median
Revenue growth (TTM) 34.60% 52.53% 18.03%
EPS growth (last fiscal year) (68.54%) 2.63% 24.80%
Revenue growth, 5-year CAGR 32.48% 76.47% 9.73%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric AXON RKLB Aerospace & Defense median
Debt to equity 0.47 0.01 0.20
Current ratio 2.15 5.48 2.85
Net debt to EBITDA (0.17) 4.66 1.29

Dividend

Metric AXON RKLB Aerospace & Defense median
Dividend yield — — 0.91%
Payout ratio — — 0.30

Size

Metric AXON RKLB Aerospace & Defense median
Market cap 31.08b 27.52b 1.78b

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