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L3Harris Technologies Inc (LHX) vs Rocket Lab Corporation (RKLB)

L3Harris Technologies Inc and Rocket Lab Corporation are both Aerospace & Defense companies. L3Harris Technologies Inc is the larger, with a market value of $44.8B against $33.1B — 1.4× the size. Rocket Lab Corporation has negative trailing earnings, so its P/E is not meaningful; L3Harris Technologies Inc trades at 25.0×. Rocket Lab Corporation grew revenue faster over the last twelve months: 52.5% against 7.29%. L3Harris Technologies Inc has the higher net margin (8.11% vs −21.5%) and the higher return on invested capital (5.12% vs −11.5%). Across the 19 metrics below, L3Harris Technologies Inc leads on 14 and Rocket Lab Corporation on 5.

Valuation

Metric LHX RKLB Aerospace & Defense median
P/E 24.95 n/m 31.81
P/S 2.02 41.62 3.55
P/B 2.33 9.17 2.59
Price to free cash flow 16.49 n/m 31.99
EV/EBITDA 15.15 n/m 18.08
EV/Sales 2.43 38.69 3.37
Earnings yield 4.01% (0.53%) 1.38%
Free cash flow yield 6.06% (1.16%) 0.21%

Profitability

Metric LHX RKLB Aerospace & Defense median
Gross margin 25.48% 37.26% 25.48%
Operating margin 10.49% (29.06%) 4.54%
Net margin 8.11% (21.51%) 2.22%
Free cash flow margin 12.24% (48.13%) 1.43%
Return on equity 9.50% (7.92%) 6.43%
Return on assets 4.42% (5.76%) 2.70%
Return on invested capital 5.12% (11.46%) 1.56%

Growth

Metric LHX RKLB Aerospace & Defense median
Revenue growth (TTM) 7.29% 52.53% 18.43%
EPS growth (last fiscal year) 8.39% 2.63% 24.27%
Revenue growth, 5-year CAGR 3.74% 76.47% 9.73%
Net income growth, 5-year CAGR 7.49% 0.00% 0.00%

Health

Metric LHX RKLB Aerospace & Defense median
Debt to equity 0.55 0.01 0.24
Current ratio 1.18 5.48 2.72
Net debt to EBITDA 2.68 4.66 1.12

Dividend

Metric LHX RKLB Aerospace & Defense median
Dividend yield 1.99% — 0.90%
Payout ratio 0.50 — 0.32

Size

Metric LHX RKLB Aerospace & Defense median
Market cap 44.78b 33.06b 2.19b

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