MRCY
Mercury Systems, Inc.
MRCY has the edge over RKLB overall, supported by lower modeled downside and stronger fundamentals.
RKLB
Rocket Lab USA, Inc.
RKLB offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
MRCY Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Stable | |
| Healthy |
MRCY's balance sheet is currently healthy, and its revenue, profitability and cash flow are stable.
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.
MRCY PE Valuation
MRCY has no meaningful PE right now: it lost money over the past year.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
MRCY Forward outlook
There aren't enough analyst estimates for MRCY to show an outlook.
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.
MRCY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.08 | +$0.48 |
| Q2 2026 | -$0.50 | +$0.15 |
| Q1 2026 | -$0.23 | +$0.88 |
| Q4 2025 | -$0.52 | +$1.03 |
| Q3 2025 | -$0.56 | +$1.48 |
| Q2 2025 | -$0.65 | +$1.73 |
| Q1 2025 | -$1.11 | +$1.23 |
| Q4 2024 | -$1.55 | -$0.07 |
MRCY has the edge over RKLB on earnings, with more consistent year-over-year improvement.
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.
MRCY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $253.2M | +12% |
| Q2 2026 | $289.8M | +6.1% |
| Q1 2026 | $235.8M | +12% |
| Q4 2025 | $232.9M | +4.4% |
| Q3 2025 | $225.2M | +10% |
| Q2 2025 | $273.1M | +9.9% |
| Q1 2025 | $211.4M | +1.5% |
| Q4 2024 | $223.1M | +13% |
MRCY's revenue has grown year over year for nine quarters in a row: $253M last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.3% | +11 points |
| Q2 2026 | 5% | -3.6 points |
| Q1 2026 | 2.2% | +10 points |
| Q4 2025 | -4.7% | +0.9 points |
| Q3 2025 | -3.8% | +2.7 points |
| Q2 2025 | 8.6% | +12 points |
| Q1 2025 | -8.2% | +14 points |
| Q4 2024 | -5.6% | +22 points |
MRCY 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 MRCY 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.
MRCY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$24.4M | -$20M |
| Q2 2026 | $28.6M | -16% |
| Q1 2026 | -$1.8M | -108% |
| Q4 2025 | $45.7M | -44% |
| Q3 2025 | -$4.4M | +$16.5M |
| Q2 2025 | $34M | -45% |
| Q1 2025 | $24.1M | +$49.8M |
| Q4 2024 | $81.9M | +118% |
MRCY 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.
MRCY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.6% | +2.2M shares |
| 1 year | +4.1% | +2.4M shares |
| 3 years | +7.9% | +4.5M shares |
| 5 years | +11% | +6.2M shares |
| Available history | +12% | +6.6M shares |
MRCY has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q2 2024 | $16,000 |
| Q1 2024 | — |
| Q4 2023 | $15,000 |
| Q3 2023 | — |
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 | — |
MRCY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.1x | Net Cash |
| Q2 2026 | -2.9x | Net Cash |
| Q1 2026 | -3.9x | Net Cash |
| Q4 2025 | -5.2x | Net Cash |
| Q3 2025 | -4.7x | Net Cash |
| Q2 2025 | -5.0x | Net Cash |
| Q1 2025 | -8.4x | Net Cash |
| Q4 2024 | -41.6x | Net Cash |
MRCY 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.
MRCY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.7 | Neutral |
| Stochastic | 23.0 | Neutral |
MRCY's weekly RSI is 48 (neutral) and its Stochastic is 23 (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).
MRCY PE vs Industrials Sector
| Metric | MRCY | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
MRCY has no meaningful PE right now: it lost money over the past year.
RKLB PE vs Industrials Sector
RKLB has no meaningful PE right now: it lost money over the past year.
MRCY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $78.8 | 5.9% above |
| 20 week MA | $90.4 | 7.8% below |
| 50 week MA | $89.2 | 6.5% below |
| 100 week MA | $72.2 | 15% above |
| 200 week MA | $54.7 | 53% above |
MRCY's trend is mixed: it's above three of its five weekly moving averages, and 53% 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.
MRCY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $70.3 | $86.6 | +23% |
| 2021 | $86.6 | $55.9 | -35% |
| 2022 | $55.9 | $43.5 | -22% |
| 2023 | $43.5 | $36.6 | -16% |
| 2024 | $36.6 | $41.9 | +14% |
| 2025 | $41.9 | $74.2 | +77% |
| 2026 YTD | $74.2 | $83.4 | +12% |
MRCY 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.