Curtiss-Wright Corporation (CW) vs Rocket Lab Corporation (RKLB)

Curtiss-Wright Corporation and Rocket Lab Corporation are both Aerospace & Defense companies. Rocket Lab Corporation is the larger, with a market value of $33.1B against $18.5B — 1.8× the size. Rocket Lab Corporation has negative trailing earnings, so its P/E is not meaningful; Curtiss-Wright Corporation trades at 34.4×. Rocket Lab Corporation grew revenue faster over the last twelve months: 52.5% against 10.5%. Curtiss-Wright Corporation has the higher net margin (14.8% vs −21.5%) and the higher return on invested capital (13.2% vs −11.5%). Across the 19 metrics below, Curtiss-Wright Corporation leads on 15 and Rocket Lab Corporation on 4.

Valuation

Metric CW RKLB Aerospace & Defense median
P/E 34.38 n/m 31.81
P/S 5.08 41.62 3.55
P/B 6.70 9.17 2.59
Price to free cash flow 29.22 n/m 31.99
EV/EBITDA 23.63 n/m 18.08
EV/Sales 5.21 38.69 3.37
Earnings yield 2.91% (0.53%) 1.38%
Free cash flow yield 3.42% (1.16%) 0.21%

Profitability

Metric CW RKLB Aerospace & Defense median
Gross margin 37.73% 37.26% 25.48%
Operating margin 18.78% (29.06%) 4.54%
Net margin 14.81% (21.51%) 2.22%
Free cash flow margin 17.38% (48.13%) 1.43%
Return on equity 19.75% (7.92%) 6.43%
Return on assets 10.16% (5.76%) 2.70%
Return on invested capital 13.20% (11.46%) 1.56%

Growth

Metric CW RKLB Aerospace & Defense median
Revenue growth (TTM) 10.54% 52.53% 18.43%
EPS growth (last fiscal year) 21.99% 2.63% 24.27%
Revenue growth, 5-year CAGR 7.91% 76.47% 9.73%
Net income growth, 5-year CAGR 19.18% 0.00% 0.00%

Health

Metric CW RKLB Aerospace & Defense median
Debt to equity 0.35 0.01 0.24
Current ratio 1.60 5.48 2.72
Net debt to EBITDA 0.77 4.66 1.12

Dividend

Metric CW RKLB Aerospace & Defense median
Dividend yield 0.20% — 0.90%
Payout ratio 0.07 — 0.32

Size

Metric CW RKLB Aerospace & Defense median
Market cap 18.52b 33.06b 2.19b

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