The Boeing Company (BA) vs Rocket Lab Corporation (RKLB)

The Boeing Company and Rocket Lab Corporation are both Aerospace & Defense companies. The Boeing Company is the larger, with a market value of $156.4B against $44.8B — 3.5× the size. Rocket Lab Corporation has negative trailing earnings, so its P/E is not meaningful; The Boeing Company trades at 74.2×. Rocket Lab Corporation grew revenue faster over the last twelve months: 52.5% against 24.8%. The Boeing Company has the higher net margin (2.22% vs −21.5%) and the higher return on invested capital (8.99% vs −11.5%). Across the 18 metrics below, The Boeing Company leads on 12 and Rocket Lab Corporation on 6.

Valuation

Metric BA RKLB Aerospace & Defense median
P/E 74.18 n/m 33.00
P/S 1.67 60.54 3.63
P/B 25.63 13.33 3.24
Price to free cash flow n/m n/m 34.01
EV/EBITDA 26.85 n/m 18.69
EV/Sales 1.94 57.61 3.94
Earnings yield 1.35% (0.37%) 1.31%
Free cash flow yield (0.09%) (0.79%) 0.00%

Profitability

Metric BA RKLB Aerospace & Defense median
Gross margin 4.68% 37.26% 25.48%
Operating margin 4.89% (29.06%) 4.54%
Net margin 2.22% (21.51%) 2.22%
Free cash flow margin (0.14%) (48.13%) 0.00%
Return on equity 148.84% (7.92%) 6.43%
Return on assets 1.30% (5.76%) 2.70%
Return on invested capital 8.99% (11.46%) 1.56%

Growth

Metric BA RKLB Aerospace & Defense median
Revenue growth (TTM) 24.78% 52.53% 18.43%
EPS growth (last fiscal year) 113.51% 2.63% —
Revenue growth, 5-year CAGR 9.00% 76.47% 9.62%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BA RKLB Aerospace & Defense median
Debt to equity 7.51 0.01 0.24
Current ratio 1.14 5.48 2.72
Net debt to EBITDA 3.96 4.66 1.12

Dividend

Metric BA RKLB Aerospace & Defense median
Dividend yield 0.16% — 1.04%
Payout ratio 0.00 0.00 0.00

Size

Metric BA RKLB Aerospace & Defense median
Market cap 156.38b 44.78b 2.52b

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