FTAI
FTAI Aviation Ltd.
FTAI has a slight 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.
FTAI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Weak | |
| Under pressure |
FTAI's revenue and profitability are currently healthy, but its cash flow and balance sheet are 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.
FTAI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.5x | $36.74 | -80% |
| Forward | 17x | $183 | — |
| Current | 37x | $183 | — |
| Fair | 38x | $188 | +2.5% |
| Expensive | 52x | $255 | +39% |
Historical ranges are pointers, not guarantees.
FTAI's PE is in its fair range at 37x. If earnings grow as analysts expect, today's price would be 17x 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.
FTAI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for FTAI, with profitability holding steady.
RKLB Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
RKLB has the edge over FTAI on the outlook, with more favorable profitability expectations.
FTAI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $10.79 | +120% |
| Q3 2026 | $4.91 | +11% |
| Q2 2026 | $4.58 | +13% |
| Q1 2026 | $5.02 | +1992% |
| Q4 2025 | $4.60 | +$4.92 |
| Q3 2025 | $4.41 | +$4.50 |
| Q2 2025 | $4.07 | +$4.59 |
| Q1 2025 | $0.24 | -89% |
| Q4 2024 | -$0.32 | -115% |
FTAI 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.
FTAI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $977.7M | +47% |
| Q2 2026 | $953.1M | +41% |
| Q1 2026 | $830.7M | +65% |
| Q4 2025 | $662M | +33% |
| Q3 2025 | $667.1M | +43% |
| Q2 2025 | $676.2M | +52% |
| Q1 2025 | $502.1M | +54% |
| Q4 2024 | $498.8M | +60% |
FTAI's revenue has grown year over year for 22 quarters in a row: $978M last quarter, up 47% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 22% | -7.7 points |
| Q2 2026 | 20% | -11 points |
| Q1 2026 | 21% | -9.6 points |
| Q4 2025 | 27% | -4.7 points |
| Q3 2025 | 30% | -1.9 points |
| Q2 2025 | 31% | +80 points |
| Q1 2025 | 30% | +16 points |
| Q4 2024 | 32% | +18 points |
FTAI 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 FTAI 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.
FTAI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$110.1M | -$108.3M |
| Q2 2026 | -$122.6M | -$5.4M |
| Q1 2026 | -$166.7M | -$136.6M |
| Q4 2025 | -$189.3M | -$141.2M |
| Q3 2025 | -$1.8M | -104% |
| Q2 2025 | -$117.2M | +$71.2M |
| Q1 2025 | -$30.1M | -$28.5M |
| Q4 2024 | -$48.1M | -582% |
FTAI has burned cash in most quarters: −$589M over the past year, against −$197M the year before.
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 the edge over FTAI on cash flow, with more consistent year-over-year improvement.
FTAI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +62.3K shares |
| 1 year | +0.1% | +140K shares |
| 3 years | +3.6% | +3.6M shares |
| 5 years | +21% | +18.1M shares |
| Available history | +21% | +18M shares |
FTAI has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
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 | — |
FTAI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.2x | Elevated |
| Q2 2026 | 3.3x | Elevated |
| Q1 2026 | 3.1x | Elevated |
| Q4 2025 | 3.3x | Elevated |
| Q3 2025 | 3.1x | Elevated |
| Q2 2025 | 3.5x | Elevated |
| Q1 2025 | 7.5x | High |
| Q4 2024 | 9.4x | High |
FTAI's net debt is about 3.2 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.
FTAI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.6 | Neutral |
| Stochastic | 42.0 | Neutral |
FTAI's weekly RSI is 45 (neutral) and its Stochastic is 42 (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).
FTAI PE vs Industrials Sector
| Metric | FTAI | Sector median | Relative |
|---|---|---|---|
| PE | 37x | 24x | 55% above |
| PE % | 46 | 58 | 12 pts below |
FTAI 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.
FTAI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $172.7 | 5.9% above |
| 20 week MA | $194.9 | 6.2% below |
| 50 week MA | $224.9 | 19% below |
| 100 week MA | $178.4 | 2.5% above |
| 200 week MA | $121.9 | 50% above |
FTAI's trend is mixed: it's above three of its five weekly moving averages, and 50% 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.
FTAI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $16.9 | $19.8 | +17% |
| 2021 | $19.8 | $24.7 | +25% |
| 2022 | $24.7 | $17.4 | -30% |
| 2023 | $17.4 | $46.4 | +167% |
| 2024 | $46.4 | $127.1 | +174% |
| 2025 | $127.1 | $174.2 | +37% |
| 2026 YTD | $174.2 | $182.9 | +5% |
FTAI 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.