Reading the tape
NASDAQ: RKLB
Rocket Lab USA, Inc.
Industrials · Aerospace & Defense
Market Cap
$61.04B
52w High
$105.62
52w Low
$20.89
P/E
-349.67
Volume
76.02M
Outstanding Shares
578.75M
Price vs Fundamentals
Why The Stock Is Moving
Optimism is getting priced inModerate confidence
1Y Price: 356.58%Revenue (TTM): 45.83%FCF (TTM): -78.58%P/S: 100th pct
What changed
The stock rose 356.58% over the last year. Revenue grew 45.83% over the trailing twelve months. Operating margin moved from -44.19% to -33.2%. Free cash flow declined 78.58% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/S range (100th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at -33.2% — continued expansion would be needed to justify the premium. Revenue growth of 45.83% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Company profile
Rocket Lab USA, Inc., a space company, provides launch services and space systems solutions for the space and defense industries.
CEOSir Peter Beck
SectorIndustrials
IndustryAerospace & Defense
Employees2,100
IPO dateNov 24, 2020
Valuation
Forward P/E—
EV/EBITDA-234.41
Enterprise value$36.44B
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth63.46%
Gross margin36.56%▲29.30%vs FY2024
Operating margin-33.2%▲12.61%vs FY2024
ROE-11.51%▲76.85%vs FY2024
Analyst consensus
RatingBuy
Target price$93.14▼11.69%
13
Buy
4
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 6, 2026
Q3 FY26 · EPS est -$0.03 · Revenue est $224.23M
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