RKLB
Rocket Lab USA, Inc.
RKLB has a slight edge over TRN overall, supported by stronger modeled upside and lower modeled downside.
TRN
Trinity Industries, Inc.
TRN offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
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.
TRN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Strong |
TRN's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
TRN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 7.5x | $30.18 | — |
| Cheap | 12x | $46.62 | +54% |
| Forward | 16x | $30.18 | — |
| Fair | 18x | $72.30 | +140% |
| Expensive | 27x | $109 | +263% |
Historical ranges are pointers, not guarantees.
TRN's PE is in its cheap range at 7.5x. Analysts expect earnings to fall, which would put today's price at 16x next year's earnings, in its fair range.
RKLB Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
RKLB has the edge over TRN on the outlook, with more favorable earnings and revenue expectations.
TRN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong decline | |
| Stable | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect TRN's earnings and profitability to decline, with its revenue 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.
TRN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.87 | -53% |
| Q3 2026 | $4.00 | +251% |
| Q2 2026 | $4.15 | +264% |
| Q1 2026 | $3.12 | +93% |
| Q4 2025 | $3.08 | +88% |
| Q3 2025 | $1.14 | -45% |
| Q2 2025 | $1.14 | -42% |
| Q1 2025 | $1.62 | +8% |
| Q4 2024 | $1.64 | +29% |
TRN 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 TRN 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.
TRN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $535.1M | +18% |
| Q2 2026 | $485.1M | -4.2% |
| Q1 2026 | $492M | -16% |
| Q4 2025 | $611.2M | -2.9% |
| Q3 2025 | $454.1M | -43% |
| Q2 2025 | $506.2M | -40% |
| Q1 2025 | $585.4M | -28% |
| Q4 2024 | $629.4M | -21% |
TRN's revenue is recovering but still below its 2019 peak: $535M last quarter, up 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 18% | -8.3 points |
| Q2 2026 | 41% | +22 points |
| Q1 2026 | 21% | +3.5 points |
| Q4 2025 | 55% | +37 points |
| Q3 2025 | 26% | +11 points |
| Q2 2025 | 19% | +2 points |
| Q1 2025 | 17% | +2.8 points |
| Q4 2024 | 18% | -0.9 points |
TRN 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.
TRN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $49.6M | +41% |
| Q2 2026 | $57.2M | +8.1% |
| Q1 2026 | $91.5M | +36% |
| Q4 2025 | $158.6M | -12% |
| Q3 2025 | $35.3M | -43% |
| Q2 2025 | $52.9M | -77% |
| Q1 2025 | $67.3M | +41% |
| Q4 2024 | $180.1M | +137% |
TRN 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 | — |
TRN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -600K shares |
| 1 year | -1.1% | -900K shares |
| 3 years | -3% | -2.5M shares |
| 5 years | -19% | -18.5M shares |
| Available history | -36% | -46.3M shares |
TRN has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $21.7M |
| Q2 2026 | $13.1M |
| Q1 2026 | $7.2M |
| Q4 2025 | $12.4M |
| Q3 2025 | $19.9M |
| Q2 2025 | $30.8M |
| Q1 2025 | $8.2M |
| Q4 2024 | $13.8M |
TRN spent $54M buying back its own shares over the past year, down 25% from the year before.
RKLB Net Leverage
RKLB's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
TRN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.2x | Net Cash |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | -0.2x | Net Cash |
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | -0.2x | Net Cash |
| Q1 2025 | -0.1x | Net Cash |
| Q4 2024 | -0.3x | Net Cash |
TRN has more cash than debt.
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).
TRN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.5 | Neutral |
| Stochastic | 57.2 | Neutral |
TRN's weekly RSI is 51 (neutral) and its Stochastic is 57 (neutral).
RKLB PE vs Industrials Sector
RKLB has no meaningful PE right now: it lost money over the past year.
TRN PE vs Industrials Sector
| Metric | TRN | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 24x | 69% below |
| PE % | 5 | 58 | 53 pts below |
TRN is trading at 7.5x earnings, a 69% 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's trend is mixed: it's above three of its five weekly moving averages, and 104% above its 200-week average.
TRN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $27.4 | 10% above |
| 20 week MA | $29.9 | 1% above |
| 50 week MA | $31.0 | 2.5% below |
| 100 week MA | $29.9 | 1% above |
| 200 week MA | $28.8 | 4.9% above |
TRN has the edge over RKLB on trend strength, trading above more of its moving averages.
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.
TRN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $22.7 | $26.6 | +17% |
| 2021 | $26.6 | $29.5 | +11% |
| 2022 | $29.5 | $29.9 | +1.5% |
| 2023 | $29.9 | $26.6 | -11% |
| 2024 | $26.6 | $35.5 | +33% |
| 2025 | $35.5 | $27.5 | -22% |
| 2026 YTD | $27.5 | $30.2 | +9.7% |
TRN has the edge over RKLB on returns for 2026, with the stronger performance.