AAON
AAON, Inc.
AAON has the edge over RKLB overall, supported by lower modeled downside and stronger valuation.
RKLB
Rocket Lab USA, Inc.
RKLB's outlook is improving, though it still trails on the overall score.
AAON Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Healthy | |
| Healthy |
AAON's revenue, profitability, cash flow and balance sheet are all currently healthy.
RKLB Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Under pressure | |
| Weak | |
| Unavailable |
RKLB's revenue is currently strong, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
AAON PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $78.80 | — |
| Current | 32x | $78.80 | — |
| Cheap | 40x | $98.59 | +25% |
| Fair | 48x | $117 | +48% |
| Expensive | 61x | $148 | +88% |
Historical ranges are pointers, not guarantees.
AAON's PE is in its cheap range at 32x. If earnings grow as analysts expect, today's price would be 23x next year's earnings.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
AAON Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for AAON, with profitability improving.
RKLB Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect RKLB's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
AAON Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.42 | +40% |
| Q3 2026 | $2.45 | +101% |
| Q2 2026 | $1.99 | +34% |
| Q1 2026 | $1.38 | -28% |
| Q4 2025 | $1.29 | -36% |
| Q3 2025 | $1.22 | -46% |
| Q2 2025 | $1.48 | -33% |
| Q1 2025 | $1.91 | -11% |
| Q4 2024 | $2.02 | -5.2% |
AAON has the edge over RKLB on earnings quality, reporting a profit while its opponent remains loss making.
RKLB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.36 | +$0.03 |
| Q2 2026 | -$0.27 | +$0.19 |
| Q1 2026 | -$0.32 | +$0.09 |
| Q4 2025 | -$0.37 | +$0.01 |
| Q3 2025 | -$0.39 | -$0.02 |
| Q2 2025 | -$0.46 | -$0.11 |
| Q1 2025 | -$0.41 | -$0.04 |
| Q4 2024 | -$0.38 | $0.00 |
RKLB is still losing money, but less than at its worst: $0.36 per share over the past year, against $0.46 at its worst in mid-2025.
AAON Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $707.4M | +84% |
| Q2 2026 | $642.1M | +106% |
| Q1 2026 | $492.5M | +53% |
| Q4 2025 | $424.2M | +42% |
| Q3 2025 | $384.2M | +17% |
| Q2 2025 | $311.6M | -0.6% |
| Q1 2025 | $322.1M | +23% |
| Q4 2024 | $297.7M | -2.9% |
AAON's revenue has grown year over year for five quarters in a row: $707M last quarter, up 84% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +2.8 points |
| Q2 2026 | 13% | +5.2 points |
| Q1 2026 | 11% | -0.3 points |
| Q4 2025 | 10% | +0.5 points |
| Q3 2025 | 11% | -8.7 points |
| Q2 2025 | 7.6% | -14 points |
| Q1 2025 | 11% | -7 points |
| Q4 2024 | 9.9% | -11 points |
AAON has the edge over RKLB on profitability, with a higher operating margin.
RKLB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $267.8M | +73% |
| Q2 2026 | $234.1M | +62% |
| Q1 2026 | $200.3M | +63% |
| Q4 2025 | $179.7M | +36% |
| Q3 2025 | $155.1M | +48% |
| Q2 2025 | $144.5M | +36% |
| Q1 2025 | $122.6M | +32% |
| Q4 2024 | $132.4M | +121% |
RKLB has the edge over AAON on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -30% | +8.5 points |
| Q2 2026 | -25% | +17 points |
| Q1 2026 | -28% | +20 points |
| Q4 2025 | -28% | +11 points |
| Q3 2025 | -38% | +12 points |
| Q2 2025 | -41% | -0.5 points |
| Q1 2025 | -48% | -1.9 points |
| Q4 2024 | -39% | +41 points |
RKLB's operating margin was −30% last quarter, up 8.5 points from the same quarter a year ago.
AAON Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $91.9M | +650% |
| Q2 2026 | $21M | +$42.8M |
| Q1 2026 | $34M | +$43.2M |
| Q4 2025 | $19.3M | +2186% |
| Q3 2025 | $12.3M | -81% |
| Q2 2025 | -$21.8M | -161% |
| Q1 2025 | -$9.2M | -110% |
| Q4 2024 | $845K | -98% |
AAON has the edge over RKLB on cash generation, producing positive trailing cash flow while its opponent burns cash.
RKLB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$23.9M | +$45.5M |
| Q2 2026 | -$110.1M | -$54.8M |
| Q1 2026 | -$77.4M | +$5.5M |
| Q4 2025 | -$114.2M | -$90.2M |
| Q3 2025 | -$69.4M | -$27.5M |
| Q2 2025 | -$55.3M | -$26.9M |
| Q1 2025 | -$82.9M | -$61.1M |
| Q4 2024 | -$23.9M | +$28.7M |
RKLB has burned cash in almost every quarter: −$326M over the past year, against −$232M the year before.
AAON Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -163K shares |
| 1 year | +0.7% | +606K shares |
| 3 years | +0.2% | +165K shares |
| 5 years | +4% | +3.2M shares |
| Available history | +5.8% | +4.6M shares |
AAON has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q1 2025 | $31.5M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q4 2023 | — |
| Q3 2023 | $25M |
RKLB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.6% | +22.6M shares |
| 1 year | +23% | +124M shares |
| 3 years | +35% | +168M shares |
| 5 years | +46% | +204M shares |
RKLB has 652M diluted shares, up 23% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
AAON Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.0x | Healthy |
| Q2 2026 | 1.4x | Healthy |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 1.8x | Healthy |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | 1.0x | Very low |
| Q4 2024 | 0.6x | Very low |
AAON's net debt is about a year of its operating earnings (EBITDA), down from 1.7 years a year ago.
RKLB Net Leverage
RKLB's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
AAON Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.9 | Neutral |
| Stochastic | 24.0 | Neutral |
AAON's weekly RSI is 46 (neutral) and its Stochastic is 24 (neutral).
RKLB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.8 | Neutral |
| Stochastic | 27.6 | Neutral |
RKLB's weekly RSI is 47 (neutral) and its Stochastic is 28 (neutral).
AAON PE vs Industrials Sector
| Metric | AAON | Sector median | Relative |
|---|---|---|---|
| PE | 32x | 24x | 34% above |
| PE % | 4 | 58 | 54 pts below |
AAON is trading at 32x earnings, a 34% premium to the Industrials sector's median of 24x.
RKLB PE vs Industrials Sector
RKLB has no meaningful PE right now: it lost money over the past year.
AAON Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $75.6 | 4.3% above |
| 20 week MA | $85.2 | 7.5% below |
| 50 week MA | $94.6 | 17% below |
| 100 week MA | $94.3 | 16% below |
| 200 week MA | $85.7 | 8.1% below |
AAON has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 8.1% below its 200-week average.
RKLB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $61.4 | 4.3% above |
| 20 week MA | $68.1 | 5.9% below |
| 50 week MA | $77.6 | 17% below |
| 100 week MA | $56.5 | 13% above |
| 200 week MA | $31.4 | 104% above |
RKLB has the edge over AAON on trend strength, trading above more of its moving averages.
AAON Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $33.2 | $43.7 | +31% |
| 2021 | $43.7 | $52.4 | +20% |
| 2022 | $52.4 | $50.6 | -3.5% |
| 2023 | $50.6 | $73.9 | +46% |
| 2024 | $73.9 | $121.4 | +64% |
| 2025 | $121.4 | $75.8 | -38% |
| 2026 YTD | $75.8 | $78.8 | +4% |
AAON has the edge over RKLB on returns for 2026, with the stronger performance.
RKLB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.82 | $10.3 | +4.9% |
| 2021 | $10.3 | $12.0 | +17% |
| 2022 | $12.0 | $3.77 | -69% |
| 2023 | $3.77 | $5.53 | +47% |
| 2024 | $5.53 | $27.2 | +392% |
| 2025 | $27.2 | $70.7 | +160% |
| 2026 YTD | $70.7 | $64.1 | -9.3% |
RKLB's yearly returns have swung widely, from +392% in 2024 to −69% in 2022. It's down 9.3% so far in 2026.