KMT
Kennametal Inc.
KMT has the edge over RKLB overall, supported by stronger valuation and stronger fundamentals.
RKLB
Rocket Lab USA, Inc.
RKLB has lower modeled downside risk, despite its lower overall score.
KMT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Weak | |
| Strong |
KMT's revenue, profitability and balance sheet are currently strong, but its cash flow is weak.
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.
KMT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 3.2x | $24.26 | — |
| Forward | 9.6x | $24.26 | — |
| Cheap | 15x | $117 | +383% |
| Fair | 18x | $137 | +466% |
| Expensive | 27x | $206 | +750% |
Historical ranges are pointers, not guarantees.
KMT's PE is in its cheap range at 3.2x. Analysts expect earnings to fall, which would put today's price at 9.6x next year's earnings.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
KMT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong decline | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect KMT's revenue to grow, but its earnings and profitability to decline. However, they disagree widely on these estimates.
RKLB Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
RKLB has the edge over KMT on the outlook, with more favorable earnings and profitability expectations.
KMT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.54 | -67% |
| Q3 2026 | $7.60 | +523% |
| Q2 2026 | $4.42 | +268% |
| Q1 2026 | $1.77 | +27% |
| Q4 2025 | $1.43 | +17% |
| Q3 2025 | $1.22 | -4.7% |
| Q2 2025 | $1.20 | -12% |
| Q1 2025 | $1.39 | +2.2% |
| Q4 2024 | $1.22 | -19% |
KMT 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.
KMT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $768.2M | +54% |
| Q2 2026 | $736.6M | +43% |
| Q1 2026 | $592.6M | +22% |
| Q4 2025 | $529.5M | +9.8% |
| Q3 2025 | $498M | +3.3% |
| Q2 2025 | $516.4M | -4.9% |
| Q1 2025 | $486.4M | -5.7% |
| Q4 2024 | $482.1M | -2.7% |
KMT's revenue has grown year over year for five quarters in a row: $768M last quarter, up 54% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 49% | +42 points |
| Q2 2026 | 41% | +35 points |
| Q1 2026 | 13% | +4.3 points |
| Q4 2025 | 9.9% | +3.4 points |
| Q3 2025 | 7.5% | +0.1 points |
| Q2 2025 | 6.1% | -5.2 points |
| Q1 2025 | 9.1% | +2.2 points |
| Q4 2024 | 6.6% | +0.8 points |
KMT 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 KMT 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.
KMT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$212.1M | -$206.6M |
| Q2 2026 | -$96.9M | -270% |
| Q1 2026 | -$20.9M | -495% |
| Q4 2025 | $42.4M | +18% |
| Q3 2025 | -$5.5M | -126% |
| Q2 2025 | $57.1M | -37% |
| Q1 2025 | $5.3M | -89% |
| Q4 2024 | $35.9M | -2.6% |
KMT's free cash flow has turned negative after years in the green: −$287M over the past year.
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 KMT on cash flow, with more consistent year-over-year improvement.
KMT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.9% | +696K shares |
| 1 year | +1.7% | +1.3M shares |
| 3 years | -3.2% | -2.6M shares |
| 5 years | -7.8% | -6.6M shares |
| Available history | -6% | -5M shares |
KMT has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $38,000 |
| Q2 2026 | $38,000 |
| Q1 2026 | — |
| Q4 2025 | $38,000 |
| Q3 2025 | $10M |
| Q2 2025 | $5M |
| Q1 2025 | $25M |
| Q4 2024 | $15M |
KMT has spent almost nothing on buybacks in 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 | — |
KMT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.9x | Very low |
| Q2 2026 | 1.0x | Very low |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 1.5x | Healthy |
| Q3 2025 | 1.8x | Healthy |
| Q2 2025 | 1.6x | Healthy |
| Q1 2025 | 1.6x | Healthy |
| Q4 2024 | 1.6x | Healthy |
KMT's net debt is less than a year of its operating earnings (EBITDA), down 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.
KMT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.9 | Neutral |
| Stochastic | 6.8 | Oversold |
KMT's weekly RSI is 33 (neutral) and its Stochastic is 7 (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).
KMT PE vs Industrials Sector
| Metric | KMT | Sector median | Relative |
|---|---|---|---|
| PE | 3.2x | 24x | 87% below |
| PE % | 0 | 58 | 58 pts below |
KMT is trading at 3.2x earnings, a 87% 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.
KMT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.0 | 16% below |
| 20 week MA | $30.8 | 21% below |
| 50 week MA | $33.4 | 27% below |
| 100 week MA | $27.9 | 13% below |
| 200 week MA | $26.9 | 9.7% below |
KMT is in a downtrend: it's below all five of its weekly moving averages, and 9.7% 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 KMT on trend strength, trading above more of its moving averages.
KMT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $37.1 | $37.4 | +0.8% |
| 2021 | $37.4 | $35.6 | -4.9% |
| 2022 | $35.6 | $24.3 | -32% |
| 2023 | $24.3 | $25.8 | +6.4% |
| 2024 | $25.8 | $24.2 | -6.3% |
| 2025 | $24.2 | $29.3 | +21% |
| 2026 YTD | $29.3 | $24.3 | -17% |
KMT has finished lower in three of the last six 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 KMT on returns for 2026, with the stronger performance.