DRS
Leonardo DRS, Inc.
DRS has the edge over RKLB overall, supported by lower modeled downside and stronger modeled upside.
RKLB
Rocket Lab USA, Inc.
RKLB's outlook is improving, though it still trails on the overall score.
DRS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Strong |
DRS'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.
DRS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9x | $12.28 | -66% |
| Forward | 24x | $35.66 | — |
| Current | 26x | $35.66 | — |
| Fair | 27x | $36.60 | +2.6% |
| Expensive | 43x | $58.75 | +65% |
Historical ranges are pointers, not guarantees.
DRS's PE is in its fair range at 26x. If earnings grow as analysts expect, today's price would be 24x next year's earnings.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
DRS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for DRS, 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.
DRS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.48 | +8.5% |
| Q3 2026 | $1.36 | +37% |
| Q2 2026 | $1.19 | +27% |
| Q1 2026 | $1.07 | +22% |
| Q4 2025 | $1.03 | +29% |
| Q3 2025 | $0.99 | +34% |
| Q2 2025 | $0.94 | +32% |
| Q1 2025 | $0.88 | +26% |
| Q4 2024 | $0.80 | +25% |
DRS 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.
DRS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +11% |
| Q2 2026 | $913M | +10% |
| Q1 2026 | $846M | +5.9% |
| Q4 2025 | $1.1B | +8.1% |
| Q3 2025 | $960M | +18% |
| Q2 2025 | $829M | +10% |
| Q1 2025 | $799M | +16% |
| Q4 2024 | $981M | +5.9% |
DRS's revenue has grown year over year for 14 quarters in a row: $1.1B last quarter, up 11% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +1.2 points |
| Q2 2026 | 11% | +2.7 points |
| Q1 2026 | 9.1% | +1.7 points |
| Q4 2025 | 12% | -0.3 points |
| Q3 2025 | 9.7% | +0.4 points |
| Q2 2025 | 8.4% | +1.1 points |
| Q1 2025 | 7.4% | +1.1 points |
| Q4 2024 | 12% | +0.9 points |
DRS 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 DRS 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.
DRS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $58M | -25% |
| Q2 2026 | $6M | +$62M |
| Q1 2026 | -$96M | +$74M |
| Q4 2025 | $376M | -9.2% |
| Q3 2025 | $77M | +64% |
| Q2 2025 | -$56M | -$56M |
| Q1 2025 | -$170M | +$105M |
| Q4 2024 | $414M | -17% |
DRS 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.
DRS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -600K shares |
| 1 year | 0% | -100K shares |
| 3 years | +1.2% | +3.3M shares |
| 5 years | +85% | +123M shares |
| Available history | +85% | +123M shares |
DRS has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $12M |
| Q2 2026 | $12M |
| Q1 2026 | $4M |
| Q4 2025 | $11M |
| Q3 2025 | $10M |
| Q2 2025 | $11M |
| Q1 2025 | $3M |
| Q4 2024 | $15M |
DRS spent $39M buying back its own shares over the past year, about the same as 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 | — |
DRS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.2x | Net Cash |
| Q1 2026 | -0.4x | Net Cash |
| Q4 2025 | -0.7x | Net Cash |
| Q3 2025 | 0.1x | Very low |
| Q2 2025 | 0.2x | Very low |
| Q1 2025 | -0.0x | Net Cash |
| Q4 2024 | -0.6x | Net Cash |
DRS has more cash than debt.
RKLB Net Leverage
RKLB's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
DRS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.9 | Neutral |
| Stochastic | 21.1 | Neutral |
DRS's weekly RSI is 42 (neutral) and its Stochastic is 21 (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).
DRS PE vs Industrials Sector
| Metric | DRS | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 24x | 8.9% above |
| PE % | 49 | 58 | 9 pts below |
DRS is trading at 26x 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.
DRS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $35.9 | 0.8% below |
| 20 week MA | $39.7 | 10% below |
| 50 week MA | $41.0 | 13% below |
| 100 week MA | $39.8 | 10% below |
| 200 week MA | $30.4 | 17% above |
DRS has fallen below most of its moving averages, though it's still 17% 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 has the edge over DRS on trend strength, trading above more of its moving averages.
DRS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.35 | $10.3 | +92% |
| 2021 | $10.3 | $9.45 | -8% |
| 2022 | $9.45 | $13.2 | +39% |
| 2023 | $13.2 | $20.0 | +52% |
| 2024 | $20.0 | $32.5 | +62% |
| 2025 | $32.5 | $34.3 | +5.3% |
| 2026 YTD | $34.3 | $35.7 | +4% |
DRS 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.