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Space company launching small satellites on its Electron rocket and building satellite components, developing the larger Neutron rocket.
Space company launching small satellites on its Electron rocket and building satellite components, developing the larger Neutron rocket.
Most revenue now comes from building spacecraft, solar panels and components for other satellite makers and government customers, with launches on Electron priced per mission adding to it. Founded in New Zealand, it launches mainly from there and from Virginia, and reached the market through a 2021 SPAC merger. Neutron, still in development, would take larger payloads.
Moat: narrow (scale, IP / patents, installed base). One of very few companies with a proven, frequently-flying small-launch vehicle and vertical integration into spacecraft.
Headquarters: Long Beach, California, US · Founded: 2006 · Employees: 2,600
Size Rocket Lab (RKLB) is a United States Industrials company (Aerospace & Defense) with a market value of $31.8B, the 345th largest of 3,117 United States companies the cockpit tracks. Shares closed at $53.07 on 6 Nov 2026.
Performance Over six months the shares fell 49.7%, against -0.6% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 20 in its peer set.
Growth Revenue grew 52.5% over the last twelve months (peer median +12.0%); the operating margin is -29.1% (peer median 11.5%).
Valuation It trades at 38.5× enterprise value to sales against a peer median of 3.5× (most expensive of 21).
Capital Return on invested capital runs 33.1 points below its cost of capital (19.8% WACC).
Backlog Backlog (remaining performance obligations) was $2.36B at 30 Jun 2026, up 137% on a year earlier — 3.1 years of trailing revenue. Backlog detail →
Short interest Short interest is 7.6% of the free float (15 Oct 2026).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $769M | $602M | $436M | $245M | $211M |
| Revenue growth | — | +38% | +78% | +16% | — |
| Gross profit | $262M | $191M | $103M | $38.5M | $7.62M |
| EBITDA | -$162M | -$185M | -$157M | -$149M | -$109M |
| Net income | -$165M | -$198M | -$190M | -$183M | -$136M |
| Free cash flow | -$371M | -$322M | -$116M | -$154M | -$149M |
| Capital expenditure | $149M | $156M | $67.1M | $54.7M | $42.4M |
| Total debt | $134M | $265M | $475M | $182M | $157M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Rocket Lab RKLB | $31.8B | -50% | +53% | -29% | 38.5× | n/a |
| Space Exploration Technologies SPCX | $1.82T | n/a | +33% | -11% | 94.9× | n/a |
| Firefly Aerospace FLY | $3.48B | -48% | +179% | -116% | 10.1× | n/a |
| Northrop Grumman NOC | $74.6B | -4% | +7% | 11% | 2.0× | 0.2% |
| Redwire RDW | $1.80B | -35% | +63% | -41% | 3.3× | n/a |
| MDA Space MDA.TO | $4.65B | -14% | +38% | 5% | 3.5× | n/a |
| Voyager Technologies VOYG | $1.49B | -19% | +42% | -82% | 8.3× | n/a |
| Intuitive Machines LUNR | $2.40B | -64% | +117% | -20% | 7.5× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RKLB | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -22.4% | +4.8% | 3rd lowest of 21 |
| 6-month return | -49.7% | -0.6% | 2nd lowest of 20 |
| Distance from 52-week high | -64.8% | -20.9% | lowest of 21 |
| Revenue growth (TTM) | +52.5% | +12.0% | 2nd highest of 20 |
| Operating margin | -29.1% | 11.5% | lowest of 21 |
| EV / Sales | 38.5× | 3.5× | most expensive of 21 |
| ROIC minus cost of capital | -33.1 pp | +8.4 pp | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Rocket Lab RKLB | United States | $31.8B | -50% | +53% | -29% | 38.5× | n/a | n/a |
| Kongsberg Gruppen KOG.OL | Norway | $31.8B | +13% | -28% | 17% | 7.5× | 21.7% | +4.3% |
| Elbit Systems ESLT | United States | $32.0B | -13% | +12% | 9% | 3.5× | 10.1% | +11.5% |
| Leonardo LDO.MI | Italy | $31.0B | -4% | +10% | 7% | 1.6× | 14.3% | +7.8% |
| Bharat Electronics BEL.NS | India | $30.6B | -10% | +20% | 26% | 9.2× | 38.2% | +14.3% |
| Saab SAAB-B.ST | Sweden | $33.3B | +19% | +28% | 10% | 3.5× | 6.0% | +17.4% |
| Hindustan Aeronautics HAL.NS | India | $35.2B | +4% | +7% | 23% | 9.8× | 42.7% | +7.2% |
| Dassault Aviation AM.PA | France | $26.0B | +6% | +33% | 9% | 1.5× | 5.2% | +6.2% |
| HEICO HEI | United States | $39.2B | +14% | +21% | 24% | 8.1× | 24.5% | +20.2% |
| Axon Enterprise AXON | United States | $25.4B | -22% | +35% | 1% | 8.2× | n/a | n/a |
| Hanwha Aerospace 012450.KS | South Korea | $25.0B | -53% | +28% | 11% | 1.1× | -7.0% | +38.1% |
| Rheinmetall RHM.DE | Germany | $42.5B | -29% | -2% | 18% | 4.0× | 6.5% | +12.9% |
| Singapore Technologies Engineering S63.SI | Singapore | $22.6B | -13% | +11% | 9% | 2.6× | 5.3% | +11.5% |
| Bombardier BBD-B.TO | Canada | $22.5B | +8% | +11% | 11% | 2.7× | 19.0% | +8.9% |
| Arxis ARXS | United States | $21.5B | +42% | +114% | 20% | 14.3× | 58.8% | n/a |
| MTU Aero Engines MTX.DE | Germany | $20.9B | +21% | +12% | 13% | 2.2× | 6.3% | +17.1% |
| L3Harris LHX | United States | $48.4B | -13% | +7% | 12% | 2.5× | 7.0% | +3.7% |
| Honeywell Aerospace HONA | United States | $48.5B | n/a | n/a | 20% | 3.6× | n/a | n/a |
| AVIC Shenyang Aircraft 600760.SS | China | $20.8B | +4% | -1% | 8% | 3.5× | n/a | n/a |
| Thales HO.PA | France | $51.1B | -1% | +7% | 11% | 2.0× | -2.8% | +7.6% |
| FTAI Aviation FTAI | United States | $18.4B | -33% | +46% | 23% | 6.3× | n/a | n/a |
Rocket Lab reported $2.36B of remaining performance obligations at 30 Jun 2026, up 137% from a year earlier and up 6% from the previous quarter. That is 3.1 years of trailing revenue already under contract. Book-to-bill last quarter: 1.58.