RKLB
Rocket Lab USA, Inc.
RKLB offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
TT
Trane Technologies plc
TT 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.
TT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Healthy |
TT's revenue, profitability, cash flow and balance sheet are all currently healthy.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
TT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 24x | $341 | -20% |
| Forward | 25x | $424 | — |
| Current | 30x | $424 | — |
| Fair | 32x | $448 | +5.6% |
| Expensive | 37x | $520 | +23% |
Historical ranges are pointers, not guarantees.
TT's PE is in its fair range at 30x. If earnings grow as analysts expect, today's price would be 25x next year's earnings, in its cheap range.
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.
TT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for TT, with profitability improving.
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.
TT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $17.18 | +21% |
| Q3 2026 | $14.16 | +9% |
| Q2 2026 | $13.20 | +4.8% |
| Q1 2026 | $12.93 | +7.7% |
| Q4 2025 | $12.98 | +15% |
| Q3 2025 | $12.99 | +21% |
| Q2 2025 | $12.60 | +25% |
| Q1 2025 | $12.01 | +29% |
| Q4 2024 | $11.24 | +28% |
TT 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 TT 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.
TT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $6.8B | +18% |
| Q2 2026 | $6.4B | +11% |
| Q1 2026 | $5B | +6% |
| Q4 2025 | $5.1B | +5.5% |
| Q3 2025 | $5.7B | +5.5% |
| Q2 2025 | $5.7B | +8.3% |
| Q1 2025 | $4.7B | +11% |
| Q4 2024 | $4.9B | +10% |
TT's revenue has grown year over year for 23 quarters in a row: $6.8B last quarter, up 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | -0.4 points |
| Q2 2026 | 19% | -1 points |
| Q1 2026 | 16% | -1.8 points |
| Q4 2025 | 16% | -0.7 points |
| Q3 2025 | 20% | +1.5 points |
| Q2 2025 | 20% | +0.8 points |
| Q1 2025 | 17% | +2.4 points |
| Q4 2024 | 17% | +1 points |
TT 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.
TT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +29% |
| Q2 2026 | $1B | +68% |
| Q1 2026 | $546.5M | +148% |
| Q4 2025 | $1.1B | +36% |
| Q3 2025 | $935.6M | -23% |
| Q2 2025 | $602.2M | -3.3% |
| Q1 2025 | $220.6M | +35% |
| Q4 2024 | $774.3M | -9% |
TT 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 | — |
TT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -1.1M shares |
| 1 year | -1.3% | -3M shares |
| 3 years | -4% | -9.2M shares |
| 5 years | -8.4% | -20.3M shares |
| Available history | -9.4% | -23M shares |
TT has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $582.1M |
| Q2 2026 | $469.1M |
| Q1 2026 | $287.3M |
| Q4 2025 | $231.3M |
| Q3 2025 | $370.4M |
| Q2 2025 | $402.1M |
| Q1 2025 | $477.5M |
| Q4 2024 | $354.7M |
TT spent $1.6B buying back its own shares over the past year, down 2.2% 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.
TT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2025 | 0.7x | Very low |
| Q4 2024 | 0.8x | Very low |
| Q4 2023 | 1.1x | Healthy |
| Q4 2022 | 1.3x | Healthy |
| Q4 2021 | 1.2x | Healthy |
| Q3 2021 | 0.9x | Very low |
| Q2 2021 | 0.9x | Very low |
| Q1 2021 | 1.1x | Healthy |
TT's net debt is less than a year of its operating earnings (EBITDA), down from 1.2 years 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).
TT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.7 | Neutral |
| Stochastic | 14.4 | Oversold |
TT's weekly RSI is 44 (neutral) and its Stochastic is 14 (oversold).
RKLB PE vs Industrials Sector
RKLB has no meaningful PE right now: it lost money over the past year.
TT PE vs Industrials Sector
| Metric | TT | Sector median | Relative |
|---|---|---|---|
| PE | 30x | 24x | 24% above |
| PE % | 42 | 58 | 16 pts below |
TT is trading at 30x earnings, a 24% premium 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 TT on trend strength, trading above more of its moving averages.
TT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $441.9 | 4% below |
| 20 week MA | $454.2 | 6.6% below |
| 50 week MA | $444.1 | 4.5% below |
| 100 week MA | $421.8 | 0.5% above |
| 200 week MA | $343.1 | 24% above |
TT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 24% 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's yearly returns have swung widely, from +392% in 2024 to −69% in 2022. It's down 9.3% so far in 2026.
TT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $104.2 | $143.7 | +38% |
| 2021 | $143.7 | $197.3 | +37% |
| 2022 | $197.3 | $170.0 | -14% |
| 2023 | $170.0 | $243.9 | +44% |
| 2024 | $243.9 | $373.5 | +53% |
| 2025 | $373.5 | $392.6 | +5.1% |
| 2026 YTD | $392.6 | $424.1 | +8% |
TT has the edge over RKLB on returns for 2026, with the stronger performance.