LHX
L3Harris Technologies, Inc.
LHX has the edge over RKLB overall, supported by lower modeled downside and stronger valuation.
RKLB
Rocket Lab USA, Inc.
RKLB's outlook is improving, though it still trails on the overall score.
LHX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Healthy |
LHX'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.
LHX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 21x | $272 | — |
| Current | 25x | $272 | — |
| Cheap | 26x | $275 | +1.2% |
| Fair | 31x | $334 | +23% |
| Expensive | 38x | $403 | +48% |
Historical ranges are pointers, not guarantees.
LHX's PE is in its cheap range at 25x. If earnings grow as analysts expect, today's price would be 21x next year's earnings.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
LHX Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for LHX, 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.
LHX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $12.93 | +21% |
| Q3 2026 | $10.72 | +15% |
| Q2 2026 | $9.90 | +11% |
| Q1 2026 | $9.21 | +9.3% |
| Q4 2025 | $8.53 | +8.4% |
| Q3 2025 | $9.31 | +47% |
| Q2 2025 | $8.95 | +43% |
| Q1 2025 | $8.43 | +37% |
| Q4 2024 | $7.87 | +22% |
LHX 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.
LHX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $6.1B | +7.1% |
| Q2 2026 | $5.9B | +8.4% |
| Q1 2026 | $5.7B | +12% |
| Q4 2025 | $21.9B | +296% |
| Q3 2025 | $5.7B | +6.9% |
| Q2 2025 | $5.4B | +2.4% |
| Q1 2025 | $5.1B | -1.5% |
| Q4 2024 | $5.5B | +3.4% |
LHX's revenue has grown year over year for six quarters in a row: $6.1B last quarter, up 7.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 13% | +2 points |
| Q2 2026 | 11% | +0.6 points |
| Q1 2026 | 11% | +1.1 points |
| Q4 2025 | 9.7% | -0.7 points |
| Q3 2025 | 11% | +1.6 points |
| Q2 2025 | 11% | +1.5 points |
| Q1 2025 | 10% | +3 points |
| Q4 2024 | 10% | +8.9 points |
LHX 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 LHX 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.
LHX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.3B | +195% |
| Q2 2026 | $771M | +40% |
| Q1 2026 | -$194M | -$93M |
| Q4 2025 | $1.8B | +78% |
| Q3 2025 | $427M | -39% |
| Q2 2025 | $552M | -16% |
| Q1 2025 | -$101M | +$118M |
| Q4 2024 | $1B | +55% |
LHX 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.
LHX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -400K shares |
| 1 year | -0.6% | -1.2M shares |
| 3 years | -1.7% | -3.2M shares |
| 5 years | -7.3% | -14.7M shares |
| Available history | -16% | -35.2M shares |
LHX has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $73M |
| Q2 2026 | $229M |
| Q1 2026 | $296M |
| Q4 2025 | $156M |
| Q3 2025 | $176M |
| Q2 2025 | $253M |
| Q1 2025 | $569M |
| Q4 2024 | $42M |
LHX spent $754M buying back its own shares over the past year, down 28% 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 | — |
LHX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.6x | Healthy |
| Q2 2026 | 1.8x | Healthy |
| Q1 2026 | 2.1x | Moderate |
| Q4 2025 | 2.0x | Healthy |
| Q3 2025 | 3.3x | Elevated |
| Q2 2025 | 3.4x | Elevated |
| Q1 2025 | 3.3x | Elevated |
| Q4 2024 | 3.6x | Elevated |
LHX's net debt is about 1.6 years of its operating earnings (EBITDA), down from 3.3 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.
LHX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.1 | Neutral |
| Stochastic | 55.9 | Neutral |
LHX's weekly RSI is 49 (neutral) and its Stochastic is 56 (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).
LHX PE vs Industrials Sector
| Metric | LHX | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 24x | 5.4% above |
| PE % | 15 | 58 | 43 pts below |
LHX is trading at 25x 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.
LHX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $252.9 | 7.5% above |
| 20 week MA | $266.6 | 2% above |
| 50 week MA | $302.5 | 10% below |
| 100 week MA | $274.3 | 0.9% below |
| 200 week MA | $241.3 | 13% above |
LHX's trend is mixed: it's above three of its five weekly moving averages, and 13% 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.
LHX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $201.7 | $185.2 | -8.2% |
| 2021 | $185.2 | $208.3 | +12% |
| 2022 | $208.3 | $206.2 | -1% |
| 2023 | $206.2 | $210.6 | +2.1% |
| 2024 | $210.6 | $212.4 | +0.8% |
| 2025 | $212.4 | $296.8 | +40% |
| 2026 YTD | $296.8 | $271.8 | -8.4% |
LHX 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.