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

Axon Enterprise, Inc and Rocket Lab Corporation are both Aerospace & Defense companies. Rocket Lab Corporation is the larger, with a market value of $44.8B against $36.2B — 1.2× the size. Rocket Lab Corporation has negative trailing earnings, so its P/E is not meaningful; Axon Enterprise, Inc trades at 173×. 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 13 and Rocket Lab Corporation on 5.

Valuation

Metric AXON RKLB Aerospace & Defense median
P/E 173.43 n/m 33.00
P/S 10.77 60.54 3.63
P/B 9.43 13.33 3.24
Price to free cash flow 262.21 n/m 34.01
EV/EBITDA 268.08 n/m 18.69
EV/Sales 11.09 57.61 3.94
Earnings yield 0.58% (0.37%) 1.31%
Free cash flow yield 0.38% (0.79%) 0.00%

Profitability

Metric AXON RKLB Aerospace & Defense median
Gross margin 59.41% 37.26% 25.48%
Operating margin 0.74% (29.06%) 4.54%
Net margin 6.19% (21.51%) 2.22%
Free cash flow margin 4.14% (48.13%) 0.00%
Return on equity 6.22% (7.92%) 6.43%
Return on assets 2.91% (5.76%) 2.70%
Return on invested capital 0.32% (11.46%) 1.56%

Growth

Metric AXON RKLB Aerospace & Defense median
Revenue growth (TTM) 34.60% 52.53% 18.43%
EPS growth (last fiscal year) (68.54%) 2.63% —
Revenue growth, 5-year CAGR 32.48% 76.47% 9.62%
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 0.24
Current ratio 2.15 5.48 2.72
Net debt to EBITDA (0.17) 4.66 1.12

Dividend

Metric AXON RKLB Aerospace & Defense median
Dividend yield — — 1.04%
Payout ratio 0.00 0.00 0.00

Size

Metric AXON RKLB Aerospace & Defense median
Market cap 36.23b 44.78b 2.52b

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