COMPOSITE RISK SCORE
38
HIGH RISK
VAL:0/25 · FIN:6/25 · GRO:12/25 · TECH:20/25
📈 P/E RATIO
1531.7x
Trailing
📖 P/B RATIO
24.8x
Price to Book
🏛 MARKET CAP
$45.4B
Large Cap
📊 ROE
-18.8%
Return on Equity
Overview
Technical
Financials
Analysis
Verdict
🏢 Company Analysis · Rocket Lab Corporation
💼 BUSINESS MODEL
Rocket Lab Corporation, a space company, provides launch services and space systems solutions in the United States, Canada, Japan, and internationally.. The company operates through launch services and space systems segments.. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, optical systems, and other spacecraft and on-orbit management solutions and constellation management services, as well as designs and manufactures small and medium-class rockets and develops flight and ground software.. It also designs, manufactures, and sells Electron, an orbital small launch vehicle for small spacecraft launch services, as well as develops Neutron launch vehicles for large constellation deployments, interplanetary missions, and potentially for human spaceflight.. Operates in Aerospace & Defense within the Industrials sector. Workforce of 2,600 employees.
🏰 MOAT & COMPETITION
Large-cap ($45B) — established player with meaningful market presence.
🚀 CATALYSTS
Rocket Lab’s Second JAXA Launch Highlights Growing Government Revenue Potential (Simply Wall St.) Revenue growing at 36% — strong top-line momentum.
⚖️ ASYMMETRY CHECK
Analyst target range: $60 — $105 (mean $88, 15 analysts). Moderate asymmetry — upside +34% vs downside -24% (1.4x).P/E of 1531.7x — premium valuation , growth must sustain to avoid de-rating risk.
🔭 FUTURE OUTLOOK
Analyst consensus: Buy (15 analysts).
P/E at 1532x
P/B at 24.8x
Analyst target: $87.56 (+11.5%)
1Y return: +246.3%
ROE: -18.8%
Profit margin: -32.9%
Revenue growth: 35.7%
Debt/Equity: 15%
Revenue growth: 35.7%
Earnings growth: 0.0%
Beta: 2.21
Sector: Industrials
RSI, MACD, MA crossovers
200 DMA & 50 EMA position
Volume trend analysis
Price momentum signals
📈 Price Movement
1D 1W 1M
6M 1Y 3Y 5Y
🕯 Candlestick Chart
1D 1W 1M
6M 1Y 3Y 5Y
🎯 Price Prediction · Analyst Target Cone
📉 Valuation Trends (at current CMP)
P/E P/B MCap/Sales EPS
P/E data unavailable
136.4
107.9
79.4
50.9
22.4
2022
2023
2024
2025
2022: 67.4 2023: 81.8 2024: 118.7 2025: 26.4 26.4
247.3
201.5
155.7
109.9
64.1
2022
2023
2024
2025
2022: 215.1 2023: 185.5 2024: 104.0 2025: 75.4 75.4
Insufficient EPS data
💎 Valuation & Financial Metrics
P/E RATIO
1531.7x
Trailing twelve months
P/B RATIO
24.8x
Price to Book value
ROE
-18.8%
Return on Equity
PROFIT MARGIN
-32.9%
Net profit margin
OPM
-28.4%
Operating profit margin
ANALYST TARGET
$87.56
Range: $60.00 - $105.00
PEG RATIO
N/A
Price/Earnings to Growth
EV/EBITDA
-247.7x
Enterprise value ratio
CURRENT RATIO
4.08
Liquidity measure
DIVIDEND YIELD
N/A
Annual yield
GROSS MARGIN
34.4%
Gross profit margin
SECTOR BENCHMARKS — AEROSPACE & DEFENSE
P/E (fair) 30.0x (sector mid)
P/B (fair) 5.0x (sector mid)
ROE (good) 20% (sector target)
OPM (good) 20% (sector target)
D/E comfort <30 (sector)
📋 Quarterly Performance Trend
Quarter Revenue QoQ % Net Profit QoQ % Op. Cash Flow EBITDA Margin
Q4 '24
$132.4M —
$-52.3M —
$-2.4M
-30.8%
Q1 '25
$122.6M -7.4%
$-60.6M -15.8%
$-54.2M
-40.9%
Q2 '25
$144.5M +17.9%
$-66.4M -9.6%
$-23.2M
-36.2%
Q3 '25
$155.1M +7.3%
$-18.3M +72.5%
$-23.5M
-30.3%
Q4 '25
$179.7M +15.8%
$-52.9M -189.9%
$-64.5M
-3.3%
📊 Year-on-Year Trend
FY Revenue YoY % Net Profit YoY % Op. Cash Flow YoY %
2021
N/A —
N/A —
N/A —
2022
$211.0M —
$-135.9M —
$-106.5M —
2023
$244.6M +15.9%
$-182.6M -34.3%
$-98.9M +7.2%
2024
$436.2M +78.3%
$-190.2M -4.2%
$-48.9M +50.5%
2025
$601.8M +38.0%
$-198.2M -4.2%
$-165.5M -238.6%
📈 Revenue vs Earnings
Quarterly
Annual
💰 How Rocket Lab Corporation Makes Its Money
Quarterly
Annual
Revenue
$180M
Cost of Revenue
$111M
Gross Profit
$68M
R&D
$79M
SG&A
$40M
Operating Inc.
-$51M
Tax
$11M
Interest
$21M
Other
$5M
Net Income
-$53M
(-29.5% margin)
Dec 2025 · All values in $ Millions
Revenue
$155M
Cost of Revenue
$98M
Gross Profit
$57M
R&D
$71M
SG&A
$46M
Operating Inc.
-$59M
Net Income
-$18M
(-11.8% margin)
Sep 2025 · All values in $ Millions
Revenue
$144M
Cost of Revenue
$98M
Gross Profit
$46M
R&D
$66M
SG&A
$40M
Operating Inc.
-$60M
Tax
$3M
Interest
$2M
Other
$1M
Net Income
-$66M
(-46.0% margin)
Jun 2025 · All values in $ Millions
Revenue
$123M
Cost of Revenue
$87M
Gross Profit
$35M
R&D
$55M
SG&A
$39M
Operating Inc.
-$59M
Interest
$3M
Net Income
-$61M
(-49.5% margin)
Mar 2025 · All values in $ Millions
Revenue
$602M
Cost of Revenue
$395M
Gross Profit
$207M
R&D
$271M
SG&A
$165M
Operating Inc.
-$229M
Interest
$26M
Other
$4M
Net Income
-$198M
(-32.9% margin)
Dec 2025 · All values in $ Millions
Revenue
$436M
Cost of Revenue
$320M
Gross Profit
$116M
R&D
$174M
SG&A
$132M
Operating Inc.
-$190M
Interest
$26M
Other
$4M
Net Income
-$190M
(-43.6% margin)
Dec 2024 · All values in $ Millions
Revenue
$245M
Cost of Revenue
$193M
Gross Profit
$51M
R&D
$119M
SG&A
$110M
Operating Inc.
-$178M
Tax
$4M
Interest
$18M
Other
$3M
Net Income
-$183M
(-74.6% margin)
Dec 2023 · All values in $ Millions
Revenue
$211M
Cost of Revenue
$192M
Gross Profit
$19M
R&D
$65M
SG&A
$89M
Operating Inc.
-$135M
Tax
$3M
Interest
$8M
Other
$10M
Net Income
-$136M
(-64.4% margin)
Dec 2022 · All values in $ Millions
Dec 2025
Sep 2025
Jun 2025
Mar 2025
🏦 Snapshot of Rocket Lab Corporation's Balance Sheet
Quarterly
Annual
Total Assets
$2.3B
Cash & Equiv.: $829M (35.6%)
Receivables: $39M (1.7%)
Inventory: $158M (6.8%)
Other Current: $339M (14.6%)
PP&E: $424M (18.2%)
Goodwill: $206M (8.9%)
Other Intangibles: $225M (9.7%)
Other Non-Curr.: $105M (4.5%)
Liab. + Equity
$2.3B
Current Liab.: $334M (14.4%)
Long-Term Debt: $154M (6.6%)
Other Liab.: $114M (4.9%)
Equity: $1.7B (74.1%)
As of Dec 2025 · All values in $ Millions
Total Assets
$2.2B
Cash & Equiv.: $808M (36.4%)
Receivables: $59M (2.7%)
Inventory: $145M (6.5%)
Other Current: $304M (13.7%)
PP&E: $383M (17.2%)
Goodwill: $218M (9.8%)
Other Intangibles: $232M (10.4%)
Other Non-Curr.: $72M (3.3%)
Liab. + Equity
$2.2B
Current Liab.: $414M (18.7%)
Long-Term Debt: $398M (17.9%)
Other Liab.: $128M (5.7%)
Equity: $1.3B (57.7%)
As of Sep 2025 · All values in $ Millions
Total Assets
$1.6B
Cash & Equiv.: $564M (36.3%)
Receivables: $62M (4.0%)
Inventory: $130M (8.4%)
Other Current: $250M (16.1%)
PP&E: $335M (21.5%)
Goodwill: $71M (4.6%)
Other Intangibles: $54M (3.5%)
Other Non-Curr.: $88M (5.6%)
Liab. + Equity
$1.6B
Current Liab.: $376M (24.2%)
Long-Term Debt: $400M (25.8%)
Other Liab.: $88M (5.7%)
Equity: $688M (44.3%)
As of Jun 2025 · All values in $ Millions
Total Assets
$1.3B
Cash & Equiv.: $303M (24.2%)
Receivables: $39M (3.1%)
Inventory: $126M (10.0%)
Other Current: $257M (20.5%)
PP&E: $280M (22.3%)
Goodwill: $71M (5.7%)
Other Intangibles: $56M (4.5%)
Other Non-Curr.: $123M (9.8%)
Liab. + Equity
$1.3B
Current Liab.: $348M (27.7%)
Long-Term Debt: $404M (32.2%)
Other Liab.: $72M (5.7%)
Equity: $431M (34.4%)
As of Mar 2025 · All values in $ Millions
Total Assets
$2.3B
Cash & Equiv.: $829M (35.6%)
Receivables: $39M (1.7%)
Inventory: $158M (6.8%)
Other Current: $339M (14.6%)
PP&E: $424M (18.2%)
Goodwill: $206M (8.9%)
Other Intangibles: $225M (9.7%)
Other Non-Curr.: $105M (4.5%)
Liab. + Equity
$2.3B
Current Liab.: $334M (14.4%)
Long-Term Debt: $154M (6.6%)
Other Liab.: $114M (4.9%)
Equity: $1.7B (74.1%)
As of Dec 2025 · All values in $ Millions
Total Assets
$1.2B
Cash & Equiv.: $271M (22.9%)
Receivables: $36M (3.1%)
Inventory: $119M (10.1%)
Other Current: $266M (22.5%)
PP&E: $263M (22.2%)
Goodwill: $71M (6.0%)
Other Intangibles: $59M (5.0%)
Other Non-Curr.: $99M (8.4%)
Liab. + Equity
$1.2B
Current Liab.: $340M (28.7%)
Long-Term Debt: $389M (32.9%)
Other Liab.: $73M (6.2%)
Equity: $382M (32.3%)
As of Dec 2024 · All values in $ Millions
Total Assets
$941M
Cash & Equiv.: $163M (17.3%)
Receivables: $35M (3.7%)
Inventory: $108M (11.5%)
Other Current: $171M (18.2%)
PP&E: $220M (23.4%)
Goodwill: $71M (7.5%)
Other Intangibles: $68M (7.2%)
Other Non-Curr.: $106M (11.2%)
Liab. + Equity
$941M
Current Liab.: $223M (23.7%)
Long-Term Debt: $88M (9.3%)
Other Liab.: $76M (8.0%)
Equity: $555M (58.9%)
As of Dec 2023 · All values in $ Millions
Total Assets
$989M
Cash & Equiv.: $243M (24.5%)
Receivables: $37M (3.7%)
Inventory: $92M (9.3%)
Other Current: $291M (29.4%)
PP&E: $152M (15.4%)
Goodwill: $71M (7.2%)
Other Intangibles: $80M (8.1%)
Other Non-Curr.: $24M (2.4%)
Liab. + Equity
$989M
Current Liab.: $163M (16.5%)
Long-Term Debt: $100M (10.1%)
Other Liab.: $53M (5.4%)
Equity: $673M (68.1%)
As of Dec 2022 · All values in $ Millions
Dec 2025
Sep 2025
Jun 2025
Mar 2025
🎯 EPS: Estimate vs Actual
Estimates
Quarterly
Annual
📅 Quarterly Results
Item Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Total Revenue $179.7M $155.1M $144.5M $122.6M $132.4M Cost of Revenue $111.4M $97.8M $98.1M $87.3M $95.6M Gross Profit $68.2M $57.3M $46.4M $35.2M $36.8M Operating Expense $119.3M $116.3M $106.0M $94.4M $88.4M Operating Income $-51.0M $-59.0M $-59.6M $-59.2M $-51.5M Interest Expense $20.9M $590.0K $2.4M $2.6M $1.8M Pretax Income $-41.6M $-59.3M $-63.5M $-61.4M $-51.7M Tax Provision $11.3M $-41.1M $2.9M $-813.0K $675.0K Net Income $-52.9M $-18.3M $-66.4M $-60.6M $-52.3M EBITDA $-6.0M $-47.0M $-52.3M $-50.1M $-40.8M EPS (Basic) $-0.09 $-0.03 $-0.13 $-0.12 $-0.10 EPS (Diluted) $-0.09 $-0.03 $-0.13 $-0.12 $-0.10 Shares Outstanding 572.5M 528.7M 515.1M 505.6M 501.7M
📊 Profit & Loss Statement
Item Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Total Revenue $601.8M $436.2M $244.6M $211.0M — Cost of Revenue $394.6M $320.1M $193.2M $192.0M — Gross Profit $207.2M $116.1M $51.4M $19.0M — Operating Expense $436.0M $305.9M $229.3M $154.2M — Operating Income $-228.8M $-189.8M $-177.9M $-135.2M — Interest Expense $26.5M $26.2M $17.5M $7.8M — Pretax Income $-225.9M $-189.4M $-178.9M $-132.9M — Tax Provision $-27.7M $764.0K $3.6M $3.0M — Net Income $-198.2M $-190.2M $-182.6M $-135.9M — EBITDA $-155.5M $-129.6M $-131.7M $-95.2M — EPS (Basic) — $-0.38 $-0.38 $-0.29 $-0.56 EPS (Diluted) — $-0.38 $-0.38 $-0.29 $-0.56 Shares Outstanding — 495.9M 481.8M 466.2M 209.9M
🏦 Balance Sheet
Item Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Total Assets $2.32B $1.18B $941.2M $989.1M — Current Assets $1.37B $692.6M $476.7M $662.3M — Cash & Equivalents $828.7M $271.0M $162.5M $242.5M — Accounts Receivable $39.0M $36.4M $35.2M $36.6M — Inventory $158.4M $119.1M $107.9M $92.3M — Non-Current Assets $958.9M $491.7M $464.5M $326.8M — Property Plant & Equip $423.7M $262.9M $219.8M $152.4M — Goodwill $205.8M $71.0M $71.0M $71.0M — Intangible Assets $430.5M $129.7M $139.1M $150.7M — Total Liabilities $602.6M $801.9M $386.7M $315.9M — Current Liabilities $334.5M $339.5M $223.4M $162.9M — Accounts Payable $72.7M $53.1M $29.3M $12.1M — Short-Term Debt — $12.0M $17.8M $2.9M $2.8M Long-Term Debt $154.1M $389.4M $87.6M $100.0M — Total Equity $1.72B $382.5M $554.5M $673.2M — Retained Earnings $-1.01B $-813.7M $-623.5M $-441.0M — Book Value/Share 1.29B 252.8M 415.4M 522.5M —
💰 Cash Flow Statement
Item Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Operating Cash Flow $-165.5M $-48.9M $-98.9M $-106.5M — Depreciation & Amort. $43.9M $33.7M $29.7M $29.9M — Change in Working Cap $-58.8M $45.8M $-7.3M $-47.7M — Capital Expenditure $-156.3M $-67.1M $-54.7M $-42.4M — Free Cash Flow $-321.8M $-116.0M $-153.6M $-148.9M — Investing Cash Flow $-347.4M $-98.3M $12.0M $-346.1M — Acquisitions $-132.4M $0 $-19.0M $-65.8M — Financing Cash Flow $1.07B $256.7M $7.4M $2.0M — Debt Issued $26.7M $355.0M $110.0M $0 — Debt Repaid $-88.2M $-52.1M $-107.9M $-271.0K — Share Buyback — — $0 $0 $-30.4M Net Change in Cash $558.4M $109.5M $-79.5M $-450.6M —
📈 Key Financial Ratios
Ratio FY2025 FY2024 FY2023 FY2022 FY2021 Gross Margin % 34.4% 26.6% 21.0% 9.0% — Operating Margin % -38.0% -43.5% -72.7% -64.1% — Net Margin % -32.9% -43.6% -74.6% -64.4% — EBITDA Margin % -25.8% -29.7% -53.8% -45.1% — ROE % -11.5% -49.7% -32.9% -20.2% — ROA % -8.5% -16.1% -19.4% -13.7% — Debt/Equity % 14.7% 122.5% 31.9% 22.7% — Current Ratio 4.08 2.04 2.13 4.06 — FCF Margin % -53.5% -26.6% -62.8% -70.6% — Asset Turnover 0.26 0.37 0.26 0.21 —
🚀 Compounded Growth Rates
Revenue
1-Year +38.0% 3-Year CAGR +56.9%
🏭 Industry Peers — Aerospace & Defense
Ticker Company Price P/E P/B MCap ROE Margin Rev Growth CAT Caterpillar, Inc. $816.10 43.4 17.8 $379.7B 43.5% 13.1% 18.0% HON Honeywell International Inc. $212.51 33.9 9.9 $134.7B 24.3% 10.9% 2.4% UNP Union Pacific Corporation $269.79 22.2 8.7 $160.2B 40.7% 29.2% 3.2% BA Boeing Company (The) $228.45 90.7 30.1 $180.1B 169.9% 2.5% 14.0% RTX RTX Corporation $173.00 32.5 3.6 $233.0B 11.6% 8.0% 8.7% DE Deere & Company $565.16 31.9 5.8 $152.7B 19.6% 10.3% -11.1% GE GE Aerospace $285.56 35.5 16.0 $298.4B 45.4% 17.9% 24.7% LMT Lockheed Martin Corporation $509.85 24.7 17.4 $117.6B 67.6% 6.4% 0.3%
Peers selected from Industrials sector · Data from Yahoo Finance
🏛 Shareholding Pattern
TOP HOLDERS
Holder Type Shares % Held Vanguard Group Inc Inst 47,420,192 8.24% Blackrock Inc. Inst 33,076,329 5.74% BAILLIE GIFFORD & CO Inst 17,851,446 3.10% Capital World Investors Inst 16,200,726 2.81% State Street Corporation Inst 12,520,223 2.17% VANGUARD INDEX FUNDS-Vanguard Total MF 16,798,743 2.92% VANGUARD INDEX FUNDS-Vanguard Small MF 12,120,765 2.11% GROWTH FUND OF AMERICA MF 10,161,099 1.76%
🟢 CATALYSTS
🏆 Revenue Growth 36%: Above sector norm of 18% — strong top-line momentum.
💹 Analyst Upside (12%): Mean target of $87.56 above current price.
🔀 Sector Opportunity: Industrials / Aerospace & Defense — positioned in growth sector.
🔴 RISKS
📜 High P/E (1531.7x): Well above sector expensive threshold of 50x — leaves little room for error.
💰 High P/B (24.8x): Well above sector expensive threshold of 10x.
🔓 High Beta (2.21): More volatile than market — higher swing risk.
⚔ Loss-Making: Negative profit margin — path to profitability unclear.
🕸 Factor Analysis · Radar
Momentum 9/10: 1M +36.8%, 6M +23.1%, RSI 53, MACD bullish, Above 200DMA Sentiment 7/10: Analyst upside +11.5%, Rec: buy Value 5/10: P/B 24.8, EV/EBITDA -247.7 Quality 3/10: ROE -18.8%, Margin -32.9%, D/E 15, CR 4.08 Low Volatility 0/10: Beta 2.21, Ann. vol 84% Momentum
9
Sentiment
7
Value
5
Quality
3
Low Vol
0
Momentum 9/10 1M +36.8%, 6M +23.1%, RSI 53, MACD bullish, Above 200DMA
Sentiment 7/10 Analyst upside +11.5%, Rec: buy
Value 5/10 P/B 24.8, EV/EBITDA -247.7
Quality 3/10 ROE -18.8%, Margin -32.9%, D/E 15, CR 4.08
Low Volatility 0/10 Beta 2.21, Ann. vol 84%
🎯 Decision Matrix — Game Theory
Action If Stock Rises If Stock Falls
BUY Capture 11.5% analyst upside Fundamentals provide base support HOLD Retain existing position; wait for better entry Miss further upside if momentum continues; 1M return of +36.8% shows momentum SELL Lock in +246.3% 1Y return Avoid further drawdown
REASONS TO BUY
Analyst upside of 11.5% with mean target of $87.56
Revenue growing at 35.7% YoY (sector norm: 6%)
REASONS TO SELL / AVOID
P/E of 1531.7x exceeds sector expensive threshold of 50x
1Y return of +246.3% — profit booking opportunity
Rocket Lab Corporation trades at $78.50 with a composite risk score of 38/100.
The stock scores 0/25 on valuation, 6/25 on financial health, 12/25 on growth, and 20/25 on technicals.
The company is currently loss-making with negative return on equity.
Bottom Line: Elevated risk for Industrials — consider exiting. The current recommendation is SELL .
STRONG GROWTH
UPSIDE POTENTIAL
EXPENSIVE
VOLATILE
LOSS-MAKING