RKLB
Rocket Lab USA, Inc.
RKLB's outlook is improving, though it still trails on the overall score.
VSEC
VSE Corporation
VSEC has the edge over RKLB overall, supported by lower modeled downside and stronger modeled upside.
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.
VSEC Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Stable | |
| Under pressure |
VSEC's revenue and profitability are currently strong, and its cash flow is stable, but its balance sheet is under pressure.
RKLB PE Valuation
RKLB has no meaningful PE right now: it lost money over the past year.
VSEC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 20x | $80.58 | -56% |
| Forward | 23x | $184 | — |
| Current | 45x | $184 | — |
| Fair | 63x | $258 | +40% |
| Expensive | 147x | $601 | +227% |
Historical ranges are pointers, not guarantees.
VSEC's PE is in its fair range at 45x. If earnings grow as analysts expect, today's price would be 23x 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.
VSEC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for VSEC, with profitability improving. 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 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.
VSEC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.85 | +92% |
| Q3 2026 | $4.08 | +483% |
| Q2 2026 | $2.78 | +144% |
| Q1 2026 | $2.03 | +148% |
| Q4 2025 | $0.55 | -35% |
| Q3 2025 | $0.70 | -13% |
| Q2 2025 | $1.14 | +42% |
| Q1 2025 | $0.82 | -50% |
| Q4 2024 | $0.85 | -69% |
VSEC 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 VSEC 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.
VSEC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $541M | +91% |
| Q2 2026 | $449.1M | +65% |
| Q1 2026 | $324.6M | +27% |
| Q4 2025 | $301.2M | +0.7% |
| Q3 2025 | $282.9M | +3.4% |
| Q2 2025 | $272.1M | +2.3% |
| Q1 2025 | $256M | +6% |
| Q4 2024 | $299M | +27% |
VSEC's revenue has grown year over year for 10 quarters in a row: $541M last quarter, up 91% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +11 points |
| Q2 2026 | 11% | +2.6 points |
| Q1 2026 | 10% | +0.5 points |
| Q4 2025 | 11% | +1.6 points |
| Q3 2025 | 3.6% | -5.1 points |
| Q2 2025 | 8.3% | +6 points |
| Q1 2025 | 9.6% | -0.4 points |
| Q4 2024 | 9.2% | -1.6 points |
VSEC 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.
VSEC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $46.6M | +158% |
| Q2 2026 | $18.7M | +197% |
| Q1 2026 | -$68.7M | -$19.2M |
| Q4 2025 | $30.9M | -41% |
| Q3 2025 | $18M | +309% |
| Q2 2025 | $6.3M | +$27.8M |
| Q1 2025 | -$49.5M | +$37.3M |
| Q4 2024 | $52.1M | +160% |
VSEC 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 the edge over VSEC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
VSEC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.3% | +405K shares |
| 1 year | +53% | +11.1M shares |
| 3 years | +146% | +18.9M shares |
| 5 years | +150% | +19.1M shares |
| Available history | +187% | +20.7M shares |
VSEC has 32M diluted shares, up 53% from a year ago.
RKLB Net Leverage
RKLB's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
VSEC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.3x | Elevated |
| Q2 2026 | 4.8x | High |
| Q1 2026 | -6.3x | Net Cash |
| Q4 2025 | 1.7x | Healthy |
| Q3 2025 | 2.8x | Moderate |
| Q2 2025 | 2.7x | Moderate |
| Q1 2025 | 4.0x | High |
| Q4 2024 | 3.6x | Elevated |
VSEC's net debt is about 3.3 years of its operating earnings (EBITDA), up from 2.8 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).
VSEC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.6 | Neutral |
| Stochastic | 26.8 | Neutral |
VSEC's weekly RSI is 50 (neutral) and its Stochastic is 27 (neutral).
RKLB PE vs Industrials Sector
RKLB has no meaningful PE right now: it lost money over the past year.
VSEC PE vs Industrials Sector
| Metric | VSEC | Sector median | Relative |
|---|---|---|---|
| PE | 45x | 24x | 87% above |
| PE % | 40 | 58 | 18 pts below |
VSEC is trading at 45x earnings, a 87% 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's trend is mixed: it's above three of its five weekly moving averages, and 104% above its 200-week average.
VSEC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $166.5 | 10% above |
| 20 week MA | $191.6 | 4.2% below |
| 50 week MA | $193.5 | 5.1% below |
| 100 week MA | $163.9 | 12% above |
| 200 week MA | $116.5 | 58% above |
VSEC's trend is mixed: it's above three of its five weekly moving averages, and 58% 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.
VSEC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $39.0 | $40.7 | +4.4% |
| 2021 | $40.7 | $61.5 | +51% |
| 2022 | $61.5 | $44.9 | -27% |
| 2023 | $44.9 | $64.6 | +44% |
| 2024 | $64.6 | $96.8 | +50% |
| 2025 | $96.8 | $179.5 | +85% |
| 2026 YTD | $179.5 | $183.6 | +2.3% |
VSEC has the edge over RKLB on returns for 2026, with the stronger performance.