AIR
AAR Corp.
AIR 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.
AIR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Stable |
AIR's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
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.
AIR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $108 | — |
| Cheap | 20x | $98.18 | -9.3% |
| Current | 22x | $108 | — |
| Fair | 31x | $151 | +40% |
| Expensive | 165x | $809 | +647% |
Historical ranges are pointers, not guarantees.
AIR's PE is in its cheap range at 22x. If earnings grow as analysts expect, today's price would be 18x next year's earnings.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
AIR Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for AIR, with profitability holding steady.
RKLB Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
RKLB has the edge over AIR on the outlook, with more favorable profitability expectations.
AIR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.92 | +21% |
| Q3 2026 | $4.91 | +514% |
| Q2 2026 | $4.86 | +1289% |
| Q1 2026 | $4.53 | +$4.90 |
| Q4 2025 | $2.57 | +852% |
| Q3 2025 | $0.80 | -56% |
| Q2 2025 | $0.35 | -73% |
| Q1 2025 | -$0.37 | -122% |
| Q4 2024 | $0.27 | -86% |
AIR 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.
AIR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $918M | +24% |
| Q2 2026 | $928M | +23% |
| Q1 2026 | $845.1M | +25% |
| Q4 2025 | $795.3M | +16% |
| Q3 2025 | $739.6M | +12% |
| Q2 2025 | $754.5M | +15% |
| Q1 2025 | $678.2M | +20% |
| Q4 2024 | $686.1M | +26% |
AIR's revenue has grown year over year for 16 quarters in a row: $918M last quarter, up 24% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 6% | -0.3 points |
| Q2 2026 | 6.2% | N/A |
| Q1 2026 | 11% | N/A |
| Q4 2025 | 6% | N/A |
| Q3 2025 | 6.3% | N/A |
| Q2 2023 | 6.6% | -0.3 points |
| Q1 2023 | 6.8% | -0.1 points |
| Q4 2022 | 7% | +0.1 points |
AIR 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 AIR on sales, with stronger typical year-over-year growth.
| 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.
AIR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $44M | +$97.6M |
| Q2 2026 | $43.3M | +4.6% |
| Q1 2026 | $66.2M | +$93.4M |
| Q4 2025 | $6.2M | -55% |
| Q3 2025 | -$53.6M | -$27.1M |
| Q2 2025 | $41.4M | +144% |
| Q1 2025 | -$27.2M | -286% |
| Q4 2024 | $13.7M | +36% |
AIR 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.
AIR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.9% | +1.5M shares |
| 1 year | +11% | +4M shares |
| 3 years | +14% | +4.8M shares |
| 5 years | +13% | +4.6M shares |
| Available history | +14% | +4.9M shares |
AIR has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2024 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | $28.2M |
| Q3 2022 | $21.9M |
| Q2 2022 | $22.2M |
| Q2 2020 | — |
| Q1 2020 | — |
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 | — |
AIR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.3x | Moderate |
| Q2 2026 | 2.6x | Moderate |
| Q2 2023 | 1.2x | Healthy |
| Q1 2023 | 0.8x | Very low |
| Q4 2022 | 0.9x | Very low |
| Q3 2022 | 0.4x | Very low |
| Q2 2022 | 0.3x | Very low |
| Q1 2022 | 0.5x | Very low |
AIR's net debt is about 2.3 years of its operating earnings (EBITDA), up from less than a year 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.
AIR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.3 | Neutral |
| Stochastic | 24.1 | Neutral |
AIR's weekly RSI is 45 (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).
AIR PE vs Industrials Sector
| Metric | AIR | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 24x | 8.4% below |
| PE % | 31 | 58 | 27 pts below |
AIR is trading at 22x earnings, in line with 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.
AIR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $103.9 | 4.2% above |
| 20 week MA | $121.6 | 11% below |
| 50 week MA | $113.7 | 4.8% below |
| 100 week MA | $91.7 | 18% above |
| 200 week MA | $76.6 | 41% above |
AIR's trend is mixed: it's above three of its five weekly moving averages, and 41% above 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's trend is mixed: it's above three of its five weekly moving averages, and 104% above its 200-week average.
AIR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $45.3 | $35.5 | -22% |
| 2021 | $35.5 | $38.5 | +8.5% |
| 2022 | $38.5 | $42.9 | +11% |
| 2023 | $42.9 | $62.4 | +45% |
| 2024 | $62.4 | $60.4 | -3.2% |
| 2025 | $60.4 | $85.1 | +41% |
| 2026 YTD | $85.1 | $108.3 | +27% |
AIR 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.