EXPO
Exponent, Inc.
EXPO has the edge over RKLB overall, supported by lower modeled downside and stronger valuation.
RKLB
Rocket Lab USA, Inc.
RKLB offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
EXPO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
EXPO'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.
EXPO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 33x | $86.22 | — |
| Cheap | 36x | $82.56 | -4.2% |
| Current | 37x | $86.22 | — |
| Fair | 47x | $109 | +27% |
| Expensive | 55x | $127 | +48% |
Historical ranges are pointers, not guarantees.
EXPO's PE is in its cheap range at 37x. If earnings grow as analysts expect, today's price would be 33x next year's earnings.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
EXPO Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for EXPO, 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.
EXPO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.58 | +12% |
| Q3 2026 | $2.31 | +13% |
| Q2 2026 | $2.22 | +12% |
| Q1 2026 | $2.14 | +4.9% |
| Q4 2025 | $2.07 | -1.9% |
| Q3 2025 | $2.04 | -1% |
| Q2 2025 | $1.99 | -2.5% |
| Q1 2025 | $2.04 | +3.6% |
| Q4 2024 | $2.11 | +8.8% |
EXPO 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.
EXPO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $173.7M | +18% |
| Q2 2026 | $171.6M | +21% |
| Q1 2026 | $166.3M | +14% |
| Q4 2025 | $147.4M | +7.8% |
| Q3 2025 | $147.1M | +8% |
| Q2 2025 | $142M | +1% |
| Q1 2025 | $145.5M | +0.4% |
| Q4 2024 | $136.8M | +11% |
EXPO's revenue has grown year over year for 11 quarters in a row: $174M last quarter, up 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 24% | +4.4 points |
| Q2 2026 | 16% | +4.2 points |
| Q1 2026 | 25% | -5.7 points |
| Q4 2025 | 20% | -0.2 points |
| Q3 2025 | 20% | +0.8 points |
| Q2 2025 | 12% | -13 points |
| Q1 2025 | 31% | +9.3 points |
| Q4 2024 | 20% | +5 points |
EXPO 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 EXPO 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.
EXPO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $62.1M | +107% |
| Q2 2026 | $29.1M | -14% |
| Q1 2026 | -$3.4M | -162% |
| Q4 2025 | $52.9M | -1% |
| Q3 2025 | $30M | +7.1% |
| Q2 2025 | $33.9M | -28% |
| Q1 2025 | $5.5M | -38% |
| Q4 2024 | $53.5M | -23% |
EXPO 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.
EXPO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -565K shares |
| 1 year | -5.4% | -2.8M shares |
| 3 years | -6.2% | -3.2M shares |
| 5 years | -9.2% | -4.9M shares |
| Available history | -10% | -5.4M shares |
EXPO has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $67.4M |
| Q1 2026 | $78.8M |
| Q4 2025 | $24.4M |
| Q3 2025 | $40M |
| Q4 2024 | $1,000 |
| Q3 2024 | $1,000 |
| Q2 2024 | $244,000 |
EXPO spent $171M buying back its own shares over the past year.
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 | — |
EXPO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.8x | Net Cash |
| Q2 2026 | -0.5x | Net Cash |
| Q1 2026 | -0.9x | Net Cash |
| Q4 2025 | -1.7x | Net Cash |
| Q3 2025 | -1.6x | Net Cash |
| Q2 2025 | -1.9x | Net Cash |
| Q1 2025 | -1.7x | Net Cash |
| Q4 2024 | -2.0x | Net Cash |
EXPO 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.
EXPO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 73.5 | Overbought |
| Stochastic | 82.5 | Overbought |
EXPO's weekly RSI is 73 (overbought) and its Stochastic is 83 (overbought).
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).
EXPO PE vs Industrials Sector
| Metric | EXPO | Sector median | Relative |
|---|---|---|---|
| PE | 37x | 24x | 55% above |
| PE % | 21 | 58 | 37 pts below |
EXPO is trading at 37x earnings, a 55% 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.
EXPO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $75.1 | 15% above |
| 20 week MA | $69.7 | 24% above |
| 50 week MA | $68.2 | 27% above |
| 100 week MA | $72.7 | 19% above |
| 200 week MA | $83.0 | 3.9% above |
EXPO has the edge over RKLB on trend strength, trading above more of its moving averages.
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.
EXPO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $69.5 | $88.8 | +28% |
| 2021 | $88.8 | $114.0 | +28% |
| 2022 | $114.0 | $100.6 | -12% |
| 2023 | $100.6 | $88.0 | -12% |
| 2024 | $88.0 | $89.4 | +1.6% |
| 2025 | $89.4 | $71.4 | -20% |
| 2026 YTD | $71.4 | $86.2 | +21% |
EXPO 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.