ETN
Eaton Corporation plc
ETN 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.
ETN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Under pressure |
ETN's revenue, profitability and cash flow are currently healthy, 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.
ETN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 22x | $359 | — |
| Cheap | 26x | $261 | -27% |
| Fair | 33x | $327 | -8.8% |
| Current | 36x | $359 | — |
| Expensive | 39x | $388 | +8% |
Historical ranges are pointers, not guarantees.
ETN's PE is in its expensive range at 36x. If earnings grow as analysts expect, today's price would be 22x 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.
ETN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for ETN, 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.
ETN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $15.99 | +60% |
| Q3 2026 | $10.00 | 0% |
| Q2 2026 | $9.82 | -1.2% |
| Q1 2026 | $10.22 | +3.1% |
| Q4 2025 | $10.45 | +10% |
| Q3 2025 | $10.00 | +6.4% |
| Q2 2025 | $9.94 | +9.4% |
| Q1 2025 | $9.91 | +17% |
| Q4 2024 | $9.50 | +18% |
ETN 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.
ETN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $8.9B | +28% |
| Q2 2026 | $8.5B | +21% |
| Q1 2026 | $7.5B | +17% |
| Q4 2025 | $7.1B | +13% |
| Q3 2025 | $7B | +10% |
| Q2 2025 | $7B | +11% |
| Q1 2025 | $6.4B | +7.3% |
| Q4 2024 | $6.2B | +4.6% |
ETN's revenue has grown year over year for 17 quarters in a row: $8.9B last quarter, up 28% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | -2.9 points |
| Q2 2026 | 13% | -3.5 points |
| Q1 2026 | 15% | -3.6 points |
| Q4 2025 | 18% | -0.3 points |
| Q3 2025 | 18% | -0.7 points |
| Q2 2025 | 17% | -1.9 points |
| Q1 2025 | 18% | +1.6 points |
| Q4 2024 | 19% | +0.5 points |
ETN 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 ETN 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.
ETN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1B | -12% |
| Q2 2026 | $874M | +22% |
| Q1 2026 | $314M | +245% |
| Q4 2025 | $1.6B | +17% |
| Q3 2025 | $1.2B | +4.2% |
| Q2 2025 | $716M | -5.7% |
| Q1 2025 | $91M | -69% |
| Q4 2024 | $1.3B | +27% |
ETN 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.
ETN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +100K shares |
| 1 year | -0.1% | -500K shares |
| 3 years | -3% | -12M shares |
| 5 years | -3.1% | -12.3M shares |
| Available history | -7.4% | -31.2M shares |
ETN has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $193M |
| Q3 2025 | $362M |
| Q2 2025 | $692M |
| Q1 2025 | $615M |
| Q4 2024 | $877M |
ETN spent $193M buying back its own shares over the past year, down 92% 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 | — |
ETN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.1x | Elevated |
| Q2 2026 | 3.4x | Elevated |
| Q1 2026 | 3.5x | Elevated |
| Q4 2025 | 1.6x | Healthy |
| Q3 2025 | 1.8x | Healthy |
| Q2 2025 | 1.9x | Healthy |
| Q1 2025 | 1.5x | Healthy |
| Q4 2024 | 1.6x | Healthy |
ETN's net debt is about 3.1 years of its operating earnings (EBITDA), up from 1.8 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.
ETN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.3 | Neutral |
| Stochastic | 14.6 | Oversold |
ETN's weekly RSI is 40 (neutral) and its Stochastic is 15 (oversold).
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).
ETN PE vs Industrials Sector
| Metric | ETN | Sector median | Relative |
|---|---|---|---|
| PE | 36x | 24x | 49% above |
| PE % | 66 | 58 | 8 pts above |
ETN is trading at 36x earnings, a 49% 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.
ETN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $391.7 | 8.3% below |
| 20 week MA | $407.1 | 12% below |
| 50 week MA | $385.7 | 6.9% below |
| 100 week MA | $360.6 | 0.4% below |
| 200 week MA | $307.9 | 17% above |
ETN 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 ETN on trend strength, trading above more of its moving averages.
ETN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $95.0 | $118.1 | +24% |
| 2021 | $118.1 | $168.0 | +42% |
| 2022 | $168.0 | $156.8 | -6.7% |
| 2023 | $156.8 | $240.8 | +54% |
| 2024 | $240.8 | $334.6 | +39% |
| 2025 | $334.6 | $322.2 | -3.7% |
| 2026 YTD | $322.2 | $359.0 | +11% |
ETN 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.