RKLB
Rocket Lab USA, Inc.
RKLB has the edge over UPWK overall, supported by stronger modeled upside and stronger valuation.
UPWK
Upwork Inc.
UPWK has lower modeled downside risk, despite its lower 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.
UPWK Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Strong |
UPWK'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.
UPWK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 8.7x | $9.86 | — |
| Cheap | 9.3x | $7.56 | -23% |
| Fair | 12x | $9.55 | -3.1% |
| Current | 12x | $9.86 | — |
| Expensive | 30x | $23.95 | +143% |
Historical ranges are pointers, not guarantees.
UPWK's PE is in its fair range at 12x. On analysts' estimates for next year's earnings, today's price would be 8.7x, in its cheap range.
RKLB Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
RKLB has the edge over UPWK on the outlook, with more favorable earnings and revenue expectations.
UPWK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Decline | |
| Decline | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect UPWK's earnings and revenue to decline, though 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.
UPWK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.13 | +39% |
| Q3 2026 | $0.81 | -53% |
| Q2 2026 | $0.77 | -55% |
| Q1 2026 | $0.81 | -51% |
| Q4 2025 | $0.84 | -45% |
| Q3 2025 | $1.74 | +181% |
| Q2 2025 | $1.73 | +220% |
| Q1 2025 | $1.66 | +388% |
| Q4 2024 | $1.52 | +2433% |
UPWK 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 UPWK 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.
UPWK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $185.6M | -8% |
| Q2 2026 | $191.7M | -1.7% |
| Q1 2026 | $195.5M | +1.4% |
| Q4 2025 | $198.4M | +3.6% |
| Q3 2025 | $201.7M | +4.1% |
| Q2 2025 | $194.9M | +0.9% |
| Q1 2025 | $192.7M | +0.9% |
| Q4 2024 | $191.5M | +4.1% |
UPWK's revenue grew through 2024 and has held roughly level since: $186M last quarter, down 8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | +3.9 points |
| Q2 2026 | 15% | -2 points |
| Q1 2026 | 17% | -3.3 points |
| Q4 2025 | 14% | +7.2 points |
| Q3 2025 | 15% | +4 points |
| Q2 2025 | 17% | +7.5 points |
| Q1 2025 | 20% | +13 points |
| Q4 2024 | 7.1% | +2.5 points |
UPWK 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.
UPWK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $61.8M | -17% |
| Q2 2026 | $45.3M | -35% |
| Q1 2026 | $21.3M | -38% |
| Q4 2025 | $63.2M | +811% |
| Q3 2025 | $74.6M | -26% |
| Q2 2025 | $70.1M | +91% |
| Q1 2025 | $34.5M | +530% |
| Q4 2024 | $6.9M | +$12.4M |
UPWK 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 | — |
UPWK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -1.7M shares |
| 1 year | -8.2% | -11.4M shares |
| 3 years | -6.6% | -9M shares |
| 5 years | +0.3% | +346K shares |
| Available history | +17% | +18.4M shares |
UPWK has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $1.8M |
| Q1 2026 | $107.9M |
| Q4 2025 | $34M |
| Q3 2025 | $31M |
| Q2 2025 | $37.9M |
| Q1 2025 | $33.1M |
| Q4 2024 | — |
UPWK spent $144M buying back its own shares over the past year, up 41% 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.
UPWK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.4x | Net Cash |
| Q2 2026 | -0.8x | Net Cash |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | 0.7x | Very low |
| Q2 2025 | 0.6x | Very low |
| Q1 2025 | 0.6x | Very low |
| Q4 2024 | 0.8x | Very low |
UPWK 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).
UPWK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.1 | Neutral |
| Stochastic | 72.4 | Neutral |
UPWK's weekly RSI is 52 (neutral) and its Stochastic is 72 (neutral).
RKLB PE vs Industrials Sector
RKLB has no meaningful PE right now: it lost money over the past year.
UPWK PE vs Industrials Sector
| Metric | UPWK | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 24x | 49% below |
| PE % | 52 | 58 | 6 pts below |
UPWK is trading at 12x earnings, a 49% 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 UPWK on trend strength, trading above more of its moving averages.
UPWK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.97 | 9.9% above |
| 20 week MA | $8.92 | 11% above |
| 50 week MA | $11.9 | 17% below |
| 100 week MA | $13.6 | 27% below |
| 200 week MA | $12.8 | 23% below |
UPWK has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 23% below 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 UPWK on returns for 2026, with the stronger performance.
UPWK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.4 | $37.8 | +263% |
| 2021 | $37.8 | $33.6 | -11% |
| 2022 | $33.6 | $10.4 | -69% |
| 2023 | $10.4 | $14.9 | +43% |
| 2024 | $14.9 | $16.9 | +14% |
| 2025 | $16.9 | $20.9 | +23% |
| 2026 YTD | $20.9 | $9.86 | -53% |
UPWK's yearly returns have swung widely, from +263% in 2020 to −69% in 2022. It's down 53% so far in 2026.