CDRE
Cadre Holdings, Inc.
CDRE has the edge over RKLB overall, supported by lower modeled downside and stronger modeled upside.
RKLB
Rocket Lab USA, Inc.
RKLB offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
CDRE Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Healthy | |
| Under pressure |
CDRE's revenue and cash flow are currently healthy, and its profitability is stable, but its balance sheet is under pressure.
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.
CDRE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $33.08 | — |
| Cheap | 32x | $29.19 | -12% |
| Fair | 35x | $31.42 | -5% |
| Current | 37x | $33.08 | — |
| Expensive | 39x | $35.21 | +6.4% |
Historical ranges are pointers, not guarantees.
CDRE's PE is in its fair range at 37x. If earnings grow as analysts expect, today's price would be 23x next year's earnings, in its cheap range.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
CDRE Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for CDRE, with profitability improving. However, they disagree widely on these estimates.
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.
CDRE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.43 | +59% |
| Q3 2026 | $0.90 | -20% |
| Q2 2026 | $0.80 | -15% |
| Q1 2026 | $0.84 | -12% |
| Q4 2025 | $1.02 | +13% |
| Q3 2025 | $1.12 | +35% |
| Q2 2025 | $0.94 | -8.7% |
| Q1 2025 | $0.95 | -5.9% |
| Q4 2024 | $0.90 | -12% |
CDRE 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.
CDRE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $202.9M | +30% |
| Q2 2026 | $207.1M | +32% |
| Q1 2026 | $155.4M | +19% |
| Q4 2025 | $167.2M | -5% |
| Q3 2025 | $155.9M | +42% |
| Q2 2025 | $157.1M | +8.9% |
| Q1 2025 | $130.1M | -5.6% |
| Q4 2024 | $176M | +41% |
CDRE's revenue is growing: $203M last quarter, up 30% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +2 points |
| Q2 2026 | 11% | +1.5 points |
| Q1 2026 | 4.8% | -5.6 points |
| Q4 2025 | 12% | -4.5 points |
| Q3 2025 | 12% | +7 points |
| Q2 2025 | 9.3% | -4.5 points |
| Q1 2025 | 10% | +1.7 points |
| Q4 2024 | 17% | +6.5 points |
CDRE 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 CDRE 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.
CDRE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $19.9M | -8.2% |
| Q2 2026 | $18.7M | +1505% |
| Q1 2026 | $19.8M | +23% |
| Q4 2025 | $18M | -20% |
| Q3 2025 | $21.6M | +$27.9M |
| Q2 2025 | $1.2M | -87% |
| Q1 2025 | $16.1M | +1925% |
| Q4 2024 | $22.4M | -8.4% |
CDRE 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.
CDRE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +77.4K shares |
| 1 year | +6.1% | +2.5M shares |
| 3 years | +15% | +5.5M shares |
| 5 years | +58% | +16M shares |
| Available history | +26% | +8.8M shares |
CDRE has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| 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 | — |
CDRE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.0x | Elevated |
| Q2 2026 | 3.5x | Elevated |
| Q1 2026 | 4.0x | Elevated |
| Q4 2025 | 2.1x | Moderate |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 2.2x | Moderate |
| Q1 2025 | 1.0x | Healthy |
| Q4 2024 | 1.2x | Healthy |
CDRE's net debt is about 3.0 years of its operating earnings (EBITDA), up 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.
CDRE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.7 | Neutral |
| Stochastic | 65.2 | Neutral |
CDRE's weekly RSI is 58 (neutral) and its Stochastic is 65 (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).
CDRE PE vs Industrials Sector
| Metric | CDRE | Sector median | Relative |
|---|---|---|---|
| PE | 37x | 24x | 53% above |
| PE % | 65 | 66 | 1 pt below |
CDRE is trading at 37x earnings, a 53% 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.
CDRE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $28.5 | 16% above |
| 20 week MA | $29.7 | 11% above |
| 50 week MA | $33.6 | 1.4% below |
| 100 week MA | $34.0 | 2.7% below |
| 200 week MA | $31.9 | 3.8% above |
CDRE's trend is mixed: it's above three of its five weekly moving averages, and 3.8% 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.
CDRE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $15.3 | $21.3 | +39% |
| 2022 | $21.3 | $20.1 | -5.4% |
| 2023 | $20.1 | $32.9 | +64% |
| 2024 | $32.9 | $32.1 | -2.6% |
| 2025 | $32.1 | $41.9 | +31% |
| 2026 YTD | $41.9 | $33.1 | -21% |
CDRE has finished higher in three of the last five years. It's down 21% so far in 2026.
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 has the edge over CDRE on returns for 2026, with the stronger performance.