RKLB
Rocket Lab USA, Inc.
RKLB's outlook is improving, though it still trails on the overall score.
XPO
XPO Logistics, Inc.
XPO 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.
XPO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Healthy |
XPO'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.
XPO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 18x | $76.68 | -59% |
| Forward | 28x | $189 | — |
| Fair | 43x | $182 | -3.7% |
| Current | 45x | $189 | — |
| Expensive | 97x | $412 | +119% |
Historical ranges are pointers, not guarantees.
XPO's PE is in its fair range at 45x. If earnings grow as analysts expect, today's price would be 28x next year's earnings.
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.
XPO Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for XPO, 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.
XPO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.65 | +57% |
| Q3 2026 | $4.23 | +52% |
| Q2 2026 | $3.38 | +17% |
| Q1 2026 | $2.91 | -10% |
| Q4 2025 | $2.64 | -18% |
| Q3 2025 | $2.78 | -10% |
| Q2 2025 | $2.89 | -4% |
| Q1 2025 | $3.25 | +59% |
| Q4 2024 | $3.23 | +101% |
XPO 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 XPO 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.
XPO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.4B | +12% |
| Q2 2026 | $2.4B | +13% |
| Q1 2026 | $2.1B | +7.3% |
| Q4 2025 | $2B | +4.6% |
| Q3 2025 | $2.1B | +2.8% |
| Q2 2025 | $2.1B | 0% |
| Q1 2025 | $2B | -3.2% |
| Q4 2024 | $1.9B | -0.9% |
XPO's revenue is recovering but still below its 2021 peak: $2.4B last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | +4.4 points |
| Q2 2026 | 12% | +2 points |
| Q1 2026 | 8.3% | +0.6 points |
| Q4 2025 | 7.1% | -0.6 points |
| Q3 2025 | 7.8% | -0.8 points |
| Q2 2025 | 9.5% | 0 points |
| Q1 2025 | 7.7% | +0.9 points |
| Q4 2024 | 7.8% | +1.6 points |
XPO 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.
XPO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $284M | +32% |
| Q2 2026 | $181M | +255% |
| Q1 2026 | $72M | +$129M |
| Q4 2025 | $120M | +422% |
| Q3 2025 | $215M | +57% |
| Q2 2025 | $51M | +155% |
| Q1 2025 | -$57M | +$104M |
| Q4 2024 | $23M | +$811M |
XPO 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 | — |
XPO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -1.7% | -2M shares |
| 3 years | -0.8% | -1M shares |
| 5 years | +1.7% | +2M shares |
| Available history | +11% | +12M shares |
XPO has the edge over RKLB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $150M |
| Q2 2026 | $70M |
| Q1 2026 | $30M |
| Q4 2025 | $68M |
| Q3 2025 | $47M |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
XPO spent $318M buying back its own shares over the past year.
RKLB Net Leverage
RKLB's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
XPO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.9x | Healthy |
| Q2 2026 | 2.1x | Moderate |
| Q1 2026 | 2.4x | Moderate |
| Q4 2025 | 2.5x | Moderate |
| Q3 2025 | 2.5x | Moderate |
| Q2 2025 | 2.7x | Moderate |
| Q1 2025 | 2.7x | Moderate |
| Q4 2024 | 2.7x | Moderate |
XPO's net debt is about 1.9 years of its operating earnings (EBITDA), down from 2.5 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).
XPO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.3 | Neutral |
| Stochastic | 34.7 | Neutral |
XPO's weekly RSI is 49 (neutral) and its Stochastic is 35 (neutral).
RKLB PE vs Industrials Sector
RKLB has no meaningful PE right now: it lost money over the past year.
XPO PE vs Industrials Sector
| Metric | XPO | Sector median | Relative |
|---|---|---|---|
| PE | 45x | 24x | 85% above |
| PE % | 52 | 58 | 6 pts below |
XPO is trading at 45x earnings, a 85% 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.
XPO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $183.5 | 2.8% above |
| 20 week MA | $193.0 | 2.3% below |
| 50 week MA | $189.5 | 0.5% below |
| 100 week MA | $157.3 | 20% above |
| 200 week MA | $122.6 | 54% above |
XPO's trend is mixed: it's above three of its five weekly moving averages, and 54% 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.
XPO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $27.8 | $41.2 | +48% |
| 2021 | $41.2 | $44.8 | +8.6% |
| 2022 | $44.8 | $34.9 | -22% |
| 2023 | $34.9 | $87.6 | +151% |
| 2024 | $87.6 | $132.3 | +51% |
| 2025 | $132.3 | $141.3 | +6.9% |
| 2026 YTD | $141.3 | $188.6 | +33% |
XPO has the edge over RKLB on returns for 2026, with the stronger performance.