PANL
Pangaea Logistics Solutions, Ltd.
PANL has the edge over RKLB overall, supported by lower modeled downside and stronger valuation.
RKLB
Rocket Lab USA, Inc.
RKLB offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
PANL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Unavailable | |
| Strong |
PANL's revenue, profitability and balance sheet are currently healthy. There isn't enough data to rate its cash flow.
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.
PANL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 3.3x | $3.76 | -60% |
| Fair | 8.3x | $9.43 | -0.4% |
| Current | 8.3x | $9.46 | — |
| Forward | 9.3x | $9.46 | — |
| Expensive | 14x | $15.73 | +66% |
Historical ranges are pointers, not guarantees.
PANL's PE is in its fair range at 8.3x. On analysts' estimates for next year's earnings, today's price would be 9.3x.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
PANL Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for PANL, 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.
PANL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.02 | -11% |
| Q3 2026 | $1.14 | +268% |
| Q2 2026 | $0.74 | +222% |
| Q1 2026 | $0.54 | +54% |
| Q4 2025 | $0.30 | -52% |
| Q3 2025 | $0.31 | -34% |
| Q2 2025 | $0.23 | -71% |
| Q1 2025 | $0.35 | -54% |
| Q4 2024 | $0.63 | +6.8% |
PANL 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.
PANL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $219.1M | +30% |
| Q2 2026 | $187.1M | +19% |
| Q1 2026 | $170.6M | +39% |
| Q4 2025 | $183.9M | +25% |
| Q3 2025 | $168.7M | +10% |
| Q2 2025 | $156.7M | +19% |
| Q1 2025 | $122.8M | +17% |
| Q4 2024 | $147.2M | +12% |
PANL's revenue has grown year over year for 10 quarters in a row: $219M last quarter, up 30% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | +9.9 points |
| Q2 2026 | 11% | +9.1 points |
| Q1 2026 | 6.1% | +3.8 points |
| Q4 2025 | 9.5% | -0.6 points |
| Q3 2025 | 10% | +0.2 points |
| Q2 2025 | 2.3% | -3.5 points |
| Q1 2025 | 2.4% | -8.1 points |
| Q4 2024 | 10% | +2 points |
PANL 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 PANL 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.
PANL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $57.3M | +100% |
| Q2 2026 | $21.4M | +49% |
| Q1 2026 | $4.5M | +$8.8M |
| Q3 2025 | $28.6M | +0.4% |
| Q2 2025 | $14.4M | +61% |
| Q1 2025 | -$4.4M | -148% |
| Q3 2024 | $28.5M | +75% |
| Q2 2024 | $9M | +346% |
PANL generated $112M in free cash flow over the past year, up 135% from 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 burned cash in almost every quarter: −$326M over the past year, against −$232M the year before.
PANL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -124K shares |
| 1 year | +0.1% | +78.3K shares |
| 3 years | +44% | +19.8M shares |
| 5 years | +45% | +20.2M shares |
| Available history | +50% | +21.6M shares |
PANL has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
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 | — |
PANL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.6x | Very low |
| Q2 2026 | 1.2x | Healthy |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | 2.1x | Moderate |
| Q2 2025 | 2.6x | Moderate |
| Q1 2025 | 2.6x | Moderate |
| Q4 2024 | 2.2x | Moderate |
PANL's net debt is less than a year of its operating earnings (EBITDA), down from 2.1 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.
PANL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.2 | Neutral |
| Stochastic | 68.6 | Neutral |
PANL's weekly RSI is 64 (neutral) and its Stochastic is 69 (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).
PANL PE vs Industrials Sector
| Metric | PANL | Sector median | Relative |
|---|---|---|---|
| PE | 8.3x | 24x | 66% below |
| PE % | 50 | 58 | 8 pts below |
PANL is trading at 8.3x earnings, a 66% 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.
PANL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.16 | 16% above |
| 20 week MA | $7.88 | 20% above |
| 50 week MA | $7.70 | 23% above |
| 100 week MA | $6.39 | 48% above |
| 200 week MA | $6.58 | 44% above |
PANL has the edge over RKLB on trend strength, trading above more of its moving averages.
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.
PANL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $2.96 | $2.69 | -9.1% |
| 2021 | $2.69 | $3.71 | +38% |
| 2022 | $3.71 | $5.22 | +41% |
| 2023 | $5.22 | $8.24 | +58% |
| 2024 | $8.24 | $4.89 | -41% |
| 2025 | $4.89 | $6.91 | +41% |
| 2026 YTD | $6.91 | $9.46 | +37% |
PANL 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.