CNM
Core & Main, Inc.
CNM has the edge over RKLB overall, supported by lower modeled downside and stronger valuation.
RKLB
Rocket Lab USA, Inc.
RKLB offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
CNM Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Stable |
CNM's profitability and cash flow are currently healthy, and its revenue and balance sheet are 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.
CNM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 14x | $44.62 | — |
| Cheap | 16x | $39.56 | -11% |
| Current | 18x | $44.62 | — |
| Fair | 22x | $54.21 | +21% |
| Expensive | 27x | $65.05 | +46% |
Historical ranges are pointers, not guarantees.
CNM's PE is in its cheap range at 18x. If earnings grow as analysts expect, today's price would be 14x next year's earnings.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
CNM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Moderate | |
| High |
Analysts expect CNM's earnings to grow and its profitability to improve, with its revenue holding steady.
RKLB Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
RKLB has the edge over CNM on the outlook, with more favorable revenue expectations.
CNM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.29 | +36% |
| Q3 2026 | $2.43 | +8% |
| Q2 2026 | $2.36 | +9.3% |
| Q1 2026 | $2.31 | +8.5% |
| Q4 2025 | $2.28 | +7% |
| Q3 2025 | $2.25 | +7.7% |
| Q2 2025 | $2.16 | +0.9% |
| Q1 2025 | $2.13 | -0.9% |
| Q4 2024 | $2.13 | +0.5% |
CNM 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.
CNM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.1B | +2.5% |
| Q2 2026 | $1.9B | -0.1% |
| Q1 2026 | $1.6B | -6.9% |
| Q4 2025 | $2.1B | +1.2% |
| Q3 2025 | $2.1B | +6.6% |
| Q2 2025 | $1.9B | +9.8% |
| Q1 2025 | $1.7B | +18% |
| Q4 2024 | $2B | +12% |
CNM's revenue grew through 2024 and has held roughly level since: $2.1B last quarter, up 2.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +0.4 points |
| Q2 2026 | 9.3% | +0.3 points |
| Q1 2026 | 7.5% | +0.2 points |
| Q4 2025 | 11% | -0.3 points |
| Q3 2025 | 10% | -0.2 points |
| Q2 2025 | 8.9% | -0.7 points |
| Q1 2025 | 7.3% | -0.8 points |
| Q4 2024 | 11% | -0.9 points |
CNM 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 CNM 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.
CNM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $44M | +83% |
| Q2 2026 | $68M | +6.3% |
| Q1 2026 | $253M | +13% |
| Q4 2025 | $263M | +4.4% |
| Q3 2025 | $24M | -38% |
| Q2 2025 | $64M | -9.9% |
| Q1 2025 | $224M | -22% |
| Q4 2024 | $252M | -29% |
CNM 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.
CNM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -2.3M shares |
| 1 year | -2.5% | -4.9M shares |
| 3 years | -16% | -35.6M shares |
| 5 years | +39% | +54.4M shares |
| Available history | +21% | +33.3M shares |
CNM has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $169M |
| Q2 2026 | $88M |
| Q1 2026 | $58M |
| Q4 2025 | $50M |
| Q3 2025 | $8M |
| Q2 2025 | $39M |
| Q1 2025 | $55M |
| Q4 2024 | $100M |
CNM spent $365M buying back its own shares over the past year, up 81% from the year before.
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 | — |
CNM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.3x | Moderate |
| Q2 2026 | 2.2x | Moderate |
| Q1 2026 | 2.1x | Moderate |
| Q4 2025 | 2.3x | Moderate |
| Q3 2025 | 2.4x | Moderate |
| Q2 2025 | 2.5x | Moderate |
| Q1 2025 | 2.5x | Moderate |
| Q4 2024 | 2.7x | Moderate |
CNM's net debt is about 2.3 years of its operating earnings (EBITDA), about the same as 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.
CNM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.6 | Neutral |
| Stochastic | 58.7 | Neutral |
CNM's weekly RSI is 49 (neutral) and its Stochastic is 59 (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).
CNM PE vs Industrials Sector
| Metric | CNM | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 24x | 24% below |
| PE % | 23 | 63 | 40 pts below |
CNM is trading at 18x earnings, a 24% discount 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.
CNM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $42.9 | 4% above |
| 20 week MA | $43.7 | 2% above |
| 50 week MA | $48.6 | 8.2% below |
| 100 week MA | $51.5 | 13% below |
| 200 week MA | $45.2 | 1.4% below |
CNM has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 1.4% 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 CNM on trend strength, trading above more of its moving averages.
CNM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $23.7 | $29.5 | +25% |
| 2022 | $29.5 | $19.2 | -35% |
| 2023 | $19.2 | $40.4 | +111% |
| 2024 | $40.4 | $51.0 | +26% |
| 2025 | $51.0 | $54.0 | +5.8% |
| 2026 YTD | $54.0 | $44.6 | -17% |
CNM has finished higher in four of the last five years. It's down 17% 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 CNM on returns for 2026, with the stronger performance.