OESX
Orion Energy Systems, Inc.
OESX has the edge over RKLB overall, supported by stronger fundamentals and stronger modeled upside.
RKLB
Rocket Lab USA, Inc.
RKLB has lower modeled downside risk, despite its lower overall score.
OESX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Healthy |
OESX's revenue and balance sheet are currently healthy, and its profitability is stable, but its cash flow is 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.
OESX PE Valuation
OESX 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.
OESX Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for OESX, with profitability improving. However, they disagree widely on these estimates.
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.
OESX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.92 | — |
| Q3 2026 | -$0.05 | +$1.82 |
| Q2 2026 | -$0.02 | +$2.78 |
| Q1 2026 | -$0.89 | +$2.71 |
| Q4 2025 | -$1.33 | +$0.97 |
| Q3 2025 | -$1.87 | +$0.63 |
| Q2 2025 | -$2.80 | $0.00 |
| Q1 2025 | -$3.60 | +$0.10 |
| Q4 2024 | -$2.30 | +$3.50 |
OESX 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.
OESX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $21.7M | +8.9% |
| Q2 2026 | $25.7M | +32% |
| Q1 2026 | $25.7M | +23% |
| Q4 2025 | $21.1M | +7.7% |
| Q3 2025 | $19.9M | +2.9% |
| Q2 2025 | $19.6M | -1.7% |
| Q1 2025 | $20.9M | -21% |
| Q4 2024 | $19.6M | -25% |
OESX's revenue is recovering but still below its 2020 peak: $22M last quarter, up 8.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -3.4% | -2.2 points |
| Q2 2026 | 8.2% | +13 points |
| Q1 2026 | -3% | +9.7 points |
| Q4 2025 | 1.8% | +8.2 points |
| Q3 2025 | -1.2% | +16 points |
| Q2 2025 | -5.2% | +12 points |
| Q1 2025 | -13% | -20 points |
| Q4 2024 | -6.4% | +1.6 points |
OESX 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 OESX 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.
OESX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$3.4M | -319% |
| Q2 2026 | $1.3M | +$1.9M |
| Q1 2026 | -$1.5M | -$761K |
| Q4 2025 | -$645K | -117% |
| Q3 2025 | $1.6M | +217% |
| Q2 2025 | -$570K | +$2.4M |
| Q1 2025 | -$750K | -464% |
| Q4 2024 | $3.7M | +304% |
OESX has the edge over RKLB on cash flow, with more consistent year-over-year improvement.
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.
OESX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.6% | -64.7K shares |
| 1 year | +17% | +599K shares |
| 3 years | +26% | +848K shares |
| 5 years | +31% | +969K shares |
| Available history | +33% | +1M shares |
OESX 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 | — |
OESX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.6x | Healthy |
| Q2 2026 | 0.4x | Very low |
| Q1 2026 | 3.4x | Elevated |
| Q2 2022 | -3.2x | Net Cash |
| Q1 2022 | -1.5x | Net Cash |
| Q4 2021 | -1.3x | Net Cash |
| Q3 2021 | -0.9x | Net Cash |
| Q2 2021 | -1.1x | Net Cash |
OESX's net debt is about 1.6 years of its operating earnings (EBITDA), after holding more cash than debt 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.
OESX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.8 | Neutral |
| Stochastic | 23.3 | Neutral |
OESX's weekly RSI is 41 (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).
OESX PE vs Industrials Sector
| Metric | OESX | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
OESX 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.
OESX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $21.9 | 40% below |
| 20 week MA | $19.7 | 33% below |
| 50 week MA | $15.1 | 13% below |
| 100 week MA | $11.5 | 13% above |
| 200 week MA | $11.9 | 9.9% above |
OESX has slipped below its 8-, 20- and 50-week averages, though it's still 9.9% 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 has the edge over OESX on trend strength, trading above more of its moving averages.
OESX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $34.7 | $100.9 | +191% |
| 2021 | $100.9 | $35.9 | -64% |
| 2022 | $35.9 | $19.5 | -46% |
| 2023 | $19.5 | $8.67 | -56% |
| 2024 | $8.67 | $7.80 | -10% |
| 2025 | $7.80 | $15.8 | +103% |
| 2026 YTD | $15.8 | $13.1 | -17% |
OESX's yearly returns have swung widely, from +191% in 2020 to −64% in 2021. 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 OESX on returns for 2026, with the stronger performance.