RKLB
Rocket Lab USA, Inc.
RKLB offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
SEB
Seaboard Corporation
SEB has the edge over RKLB overall, supported by stronger valuation and lower modeled downside.
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.
SEB Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Under pressure | |
| Healthy |
SEB's revenue, profitability and balance sheet are currently healthy, but its cash flow is under pressure.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
SEB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 6.4x | $3,703 | — |
| Cheap | 7.7x | $4,443 | +20% |
| Fair | 11x | $6,203 | +68% |
| Expensive | 27x | $15,382 | +315% |
Historical ranges are pointers, not guarantees.
SEB's PE is in its cheap range at 6.4x.
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.
SEB Forward outlook
There aren't enough analyst estimates for SEB to show an outlook.
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.
SEB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $575.79 | +40% |
| Q2 2026 | $660.27 | +361% |
| Q1 2026 | $605.75 | +500% |
| Q4 2025 | $514.46 | +468% |
| Q3 2025 | $410.46 | +$421.16 |
| Q2 2025 | $143.31 | -43% |
| Q1 2025 | $100.91 | -57% |
| Q4 2024 | $90.62 | -54% |
SEB has the edge over RKLB on earnings quality, reporting a profit while its opponent remains loss making.
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 SEB 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.
SEB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.8B | +9.1% |
| Q2 2026 | $2.9B | +18% |
| Q1 2026 | $2.4B | +3.6% |
| Q4 2025 | $2.4B | -2.9% |
| Q3 2025 | $2.5B | +15% |
| Q2 2025 | $2.5B | +12% |
| Q1 2025 | $2.3B | +5.7% |
| Q4 2024 | $2.5B | +8.8% |
SEB's revenue is growing: $2.8B last quarter, up 9.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 0.5% | -2.8 points |
| Q2 2026 | 3.4% | +1.3 points |
| Q1 2026 | 4% | +2.4 points |
| Q4 2025 | 2.7% | -1.9 points |
| Q3 2025 | 3.3% | +1.9 points |
| Q2 2025 | 2.1% | +0.7 points |
| Q1 2025 | 1.6% | +2.5 points |
| Q4 2024 | 4.6% | +8.4 points |
SEB has the edge over RKLB on profitability, with a higher operating margin.
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.
SEB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $165M | +8.6% |
| Q2 2026 | -$78M | -$8M |
| Q1 2026 | -$150M | -$21M |
| Q4 2025 | $53M | -67% |
| Q3 2025 | $152M | +162% |
| Q2 2025 | -$70M | +$57M |
| Q1 2025 | -$129M | -$44M |
| Q4 2024 | $162M | +$195M |
SEB has the edge over RKLB on cash flow, with more consistent year-over-year improvement.
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 | — |
SEB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -0.1% | -824 shares |
| 3 years | -17% | -203K shares |
| 5 years | -17% | -203K shares |
| Available history | -18% | -208K shares |
SEB has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2025 | $1M |
| Q3 2025 | $14M |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | $13M |
| Q4 2019 | — |
RKLB Net Leverage
RKLB's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
SEB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 1.2x | Healthy |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 1.4x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2025 | 1.7x | Healthy |
| Q4 2024 | 1.9x | Healthy |
SEB's net debt is about 1.3 years of its operating earnings (EBITDA), about the same as a year ago.
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).
SEB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.5 | Neutral |
| Stochastic | 20.5 | Neutral |
SEB's weekly RSI is 38 (neutral) and its Stochastic is 20 (neutral).
RKLB PE vs Industrials Sector
RKLB has no meaningful PE right now: it lost money over the past year.
SEB PE vs Industrials Sector
| Metric | SEB | Sector median | Relative |
|---|---|---|---|
| PE | 6.4x | 24x | 73% below |
| PE % | 8 | 58 | 50 pts below |
SEB is trading at 6.4x earnings, a 73% discount to the Industrials sector's median of 24x.
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 SEB on trend strength, trading above more of its moving averages.
SEB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3,862.2 | 4.1% below |
| 20 week MA | $4,161.7 | 11% below |
| 50 week MA | $4,677.4 | 21% below |
| 100 week MA | $3,866.3 | 4.2% below |
| 200 week MA | $3,649.8 | 1.5% above |
SEB has fallen below most of its moving averages, though it's still 1.5% above its 200-week average.
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 SEB on returns for 2026, with the stronger performance.
SEB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $4,169.5 | $3,107.0 | -25% |
| 2021 | $3,107.0 | $3,931.0 | +27% |
| 2022 | $3,931.0 | $3,710.0 | -5.6% |
| 2023 | $3,710.0 | $3,570.1 | -3.8% |
| 2024 | $3,570.1 | $2,407.7 | -33% |
| 2025 | $2,407.7 | $4,369.0 | +81% |
| 2026 YTD | $4,369.0 | $3,702.9 | -15% |
SEB has finished lower in four of the last six years. It's down 15% so far in 2026.