RKLB
Rocket Lab USA, Inc.
RKLB has a slight edge over ULCC overall, supported by stronger fundamentals and stronger modeled upside.
ULCC
Frontier Group Holdings, Inc.
ULCC's outlook is improving, though it still trails on the overall score.
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.
ULCC Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| Stable | |
| Strong |
ULCC's revenue and balance sheet are currently strong, and its cash flow is stable, but its profitability is weak.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
ULCC PE Valuation
ULCC has no meaningful PE right now: it lost money over the past year.
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.
ULCC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect ULCC's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
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 has the edge over ULCC on earnings, with more consistent year-over-year improvement.
ULCC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.78 | -$1.18 |
| Q2 2026 | -$1.67 | -$1.52 |
| Q1 2026 | -$1.59 | -630% |
| Q4 2025 | -$0.60 | -262% |
| Q3 2025 | -$0.60 | -$0.57 |
| Q2 2025 | -$0.15 | +$0.13 |
| Q1 2025 | $0.30 | +$0.41 |
| Q4 2024 | $0.37 | +$0.42 |
ULCC lost $1.78 per share over the past year, and its loss has widened in each of the last three quarters.
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 ULCC 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.
ULCC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +53% |
| Q2 2026 | $1.3B | +38% |
| Q1 2026 | $992M | +8.8% |
| Q4 2025 | $997M | -0.5% |
| Q3 2025 | $886M | -5.2% |
| Q2 2025 | $929M | -4.5% |
| Q1 2025 | $912M | +5.4% |
| Q4 2024 | $1B | +12% |
ULCC's revenue has picked up after two years of holding roughly level: $1.4B last quarter, up 53% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -8% | +0.7 points |
| Q2 2026 | -7.6% | +0.5 points |
| Q1 2026 | -29% | -24 points |
| Q4 2025 | 4.9% | +0.4 points |
| Q3 2025 | -8.7% | -11 points |
| Q2 2025 | -8.1% | -11 points |
| Q1 2025 | -5% | -1.5 points |
| Q4 2024 | 4.5% | +4.8 points |
ULCC 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.
ULCC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$51M | +$166M |
| Q2 2026 | $138M | +$304M |
| Q1 2026 | $28M | +$132M |
| Q4 2025 | -$113M | -255% |
| Q3 2025 | -$217M | -$47M |
| Q2 2025 | -$166M | -$144M |
| Q1 2025 | -$104M | -$65M |
| Q4 2024 | $73M | +$141M |
ULCC 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 | — |
ULCC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +264K shares |
| 1 year | +0.9% | +2.1M shares |
| 3 years | +4.3% | +9.4M shares |
| 5 years | +5.5% | +12M shares |
| Available history | +15% | +30.6M shares |
ULCC has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
| 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.
ULCC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -1.5x | Net Cash |
| Q4 2024 | -1.8x | Net Cash |
| Q3 2024 | -1.4x | Net Cash |
| Q1 2024 | -3.4x | Net Cash |
| Q4 2023 | -3.0x | Net Cash |
| Q3 2023 | -1.7x | Net Cash |
| Q2 2023 | -1.8x | Net Cash |
ULCC 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).
ULCC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.8 | Neutral |
| Stochastic | 69.0 | Neutral |
ULCC's weekly RSI is 62 (neutral) and its Stochastic is 69 (neutral).
RKLB PE vs Industrials Sector
RKLB has no meaningful PE right now: it lost money over the past year.
ULCC PE vs Industrials Sector
| Metric | ULCC | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
ULCC has no meaningful PE right now: it lost money over the past year.
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.
ULCC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.19 | 24% above |
| 20 week MA | $6.30 | 22% above |
| 50 week MA | $5.50 | 40% above |
| 100 week MA | $5.28 | 46% above |
| 200 week MA | $6.00 | 28% above |
ULCC 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.
ULCC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $18.9 | $14.3 | -24% |
| 2022 | $14.3 | $10.5 | -27% |
| 2023 | $10.5 | $5.46 | -48% |
| 2024 | $5.46 | $7.17 | +31% |
| 2025 | $7.17 | $4.71 | -34% |
| 2026 YTD | $4.71 | $7.70 | +63% |
ULCC has the edge over RKLB on returns for 2026, with the stronger performance.