RKLB
Rocket Lab USA, Inc.
RKLB's outlook is improving, though it still trails on the overall score.
SPXC
SPX Technologies, Inc.
SPXC has the edge over RKLB overall, supported by lower modeled downside and stronger valuation.
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.
SPXC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Stable | |
| Stable |
SPXC's revenue and profitability are currently healthy, and its cash flow and balance sheet are stable.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
SPXC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 16x | $151 | — |
| Cheap | 18x | $109 | -28% |
| Current | 25x | $151 | — |
| Fair | 35x | $208 | +38% |
| Expensive | 70x | $412 | +174% |
Historical ranges are pointers, not guarantees.
SPXC's PE is in its fair range at 25x. If earnings grow as analysts expect, today's price would be 16x next year's earnings, in its cheap range.
RKLB Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
RKLB has the edge over SPXC on the outlook, with more favorable profitability expectations.
SPXC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for SPXC, with profitability holding steady.
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.
SPXC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.34 | +58% |
| Q3 2026 | $5.92 | +26% |
| Q2 2026 | $5.58 | +25% |
| Q1 2026 | $5.13 | +19% |
| Q4 2025 | $5.03 | +18% |
| Q3 2025 | $4.68 | +25% |
| Q2 2025 | $4.46 | +100% |
| Q1 2025 | $4.30 | +109% |
| Q4 2024 | $4.26 | +121% |
SPXC 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 SPXC 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.
SPXC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $714.5M | +21% |
| Q2 2026 | $679M | +23% |
| Q1 2026 | $566.8M | +17% |
| Q4 2025 | $637.3M | +19% |
| Q3 2025 | $592.8M | +23% |
| Q2 2025 | $552.4M | +10% |
| Q1 2025 | $482.6M | +3.7% |
| Q4 2024 | $533.7M | +14% |
SPXC's revenue has grown year over year for 18 quarters in a row: $715M last quarter, up 21% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | -0.2 points |
| Q2 2026 | 17% | +1.3 points |
| Q1 2026 | 15% | +1.7 points |
| Q4 2025 | 16% | -1.2 points |
| Q3 2025 | 16% | +0.1 points |
| Q2 2025 | 16% | +0.8 points |
| Q1 2025 | 14% | -0.1 points |
| Q4 2024 | 17% | +3.5 points |
SPXC 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.
SPXC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $19.3M | -80% |
| Q2 2026 | $68.5M | +97% |
| Q1 2026 | $12.1M | +$28.5M |
| Q4 2025 | $126.7M | -19% |
| Q3 2025 | $96.1M | +121% |
| Q2 2025 | $34.8M | -26% |
| Q1 2025 | -$16.4M | -2833% |
| Q4 2024 | $156.7M | +32% |
SPXC has the edge over RKLB on cash generation, producing positive trailing cash flow while its opponent burns cash.
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 | — |
SPXC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -30K shares |
| 1 year | +3.5% | +1.7M shares |
| 3 years | +8.3% | +3.9M shares |
| 5 years | +8.6% | +4M shares |
| Available history | +13% | +5.7M shares |
SPXC has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
RKLB Net Leverage
RKLB's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
SPXC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.2x | Moderate |
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.6x | Very low |
| Q2 2025 | 2.1x | Moderate |
| Q1 2025 | 1.9x | Healthy |
| Q4 2024 | 1.1x | Healthy |
SPXC's net debt is about 2.2 years of its operating earnings (EBITDA), up from less than a year 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).
SPXC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.0 | Oversold |
| Stochastic | 11.4 | Oversold |
SPXC's weekly RSI is 29 (oversold) and its Stochastic is 11 (oversold).
RKLB PE vs Industrials Sector
RKLB has no meaningful PE right now: it lost money over the past year.
SPXC PE vs Industrials Sector
| Metric | SPXC | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 24x | 5.7% above |
| PE % | 33 | 58 | 25 pts below |
SPXC is trading at 25x earnings, in line with 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 SPXC on trend strength, trading above more of its moving averages.
SPXC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $161.9 | 7% below |
| 20 week MA | $190.1 | 21% below |
| 50 week MA | $204.8 | 26% below |
| 100 week MA | $185.3 | 19% below |
| 200 week MA | $147.0 | 2.5% above |
SPXC has fallen below most of its moving averages, though it's still 2.5% 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 SPXC on returns for 2026, with the stronger performance.
SPXC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $50.6 | $53.9 | +6.5% |
| 2021 | $53.9 | $57.9 | +7.3% |
| 2022 | $57.9 | $65.3 | +13% |
| 2023 | $65.3 | $101.0 | +55% |
| 2024 | $101.0 | $146.0 | +45% |
| 2025 | $146.0 | $208.5 | +43% |
| 2026 YTD | $208.5 | $150.6 | -28% |
SPXC has finished every year since 2020 higher, and it's down 28% so far in 2026.