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Rocket Lab Corp (RKLB) stock

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NASDAQ: RKLB Nasdaq Aerospace & Defense Next results ~November 9, 2026

C+ Fundamentals grade

Rocket Lab Corp is a US-listed company in the aerospace & defense industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for Rocket Lab Corp is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: free cash flow after stock pay is not positive. We'll show the comparison once resolved.

Rocket Lab Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 11 selling0 purchases and 216 sales by directors and officers, last 12 monthsInsider trades
  • Funds785 adding, 305 cuttingOf 81 active managers that changed their stake, 43 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Rocket Lab files

Where Rocket Lab stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $769m, up 52.5% on a year earlier, faster than 45.8% a quarter earlier. That growth ranks 42 of 931 among all the companies we cover. Free-cash-flow margin fell to -48.3% from -40.5% a year earlier. Operating margin widened to -29.1% from -44.1%. The diluted share count is up 15.7% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 6 of our 7 financial-health checks.

Our model value for Rocket Lab is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 10, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 9, 2026 (estimated)

Rocket Lab Corp's trailing-twelve-month revenue grew 52.5% year on year, with a free-cash-flow margin of -48.3%. Where it stands out: long-term debt as % of assets of 0.0% ranks 4 of 47 aerospace & defense companies we cover.

Current signal Net income rising while operating cash flow falls: TTM net income grew 28.5% while operating cash flow fell 100.8% — earnings and cash are telling different stories.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 52.5% over the last 12 months, against a median of 15.5% for aerospace & defense companies we cover.
  • Growth speeding up. The growth rate is 6.7 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 15.0 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $2.1bn.

Things to watch

  • Results due soon. Results are expected around 9 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -29.1%: costs exceed revenue.
  • Burning cash. Free cash flow was -48.3% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 15.7% in a year.
  • High sales multiple. The shares trade at 40 times revenue while operating margins remain thin.
  • Volatile shares. Over the past year the shares showed annualised volatility of 94% and a beta of 3.9 against the S&P 500.

Latest results: FY2026 Q2

Filed August 10, 2026
Earnings per share
-$0.08 against an average estimate of -$0.08: missed by 4.3%
Revenue
$234m, up 62.0% on a year earlier
Share reaction
-3.4% in the first session after the results on August 10, 2026, against -0.3% for the S&P 500
Guidance given
revenue $250m to $265m (third quarter of 2026); GAAP Gross Margins 29% to 31% (third quarter of 2026)
Next report
November 9, 2026; average EPS estimate -$0.02

Rocket Lab's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-4.9%
  • 1 week-3.3%
  • 1 month-29.6%
  • This year-25.4%
  • 1 year-17.3%
  • 5 years+249.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$769M
Operating margin
-29.1%
Net margin
-21.5%
EPS (TTM, diluted)
$-0.28

Growth

Revenue growth
+52.5%
Change in growth rate
+6.7 pts
Share count change
+15.7%

Cash

Free cash flow (TTM)
-$371M
FCF margin
-48.3%
Stock pay % of revenue
10.6%

Earnings

Last results
August 10, 2026
Next results (est.)
November 9, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Insider trade
  3. Announcement
  4. Insider trade
  5. Insider trade
  6. Insider trade
  7. Insider trade
  8. Announcement
  9. Results
  10. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Rocket Lab Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: free cash flow after stock pay is not positive.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Rocket Lab Corp as an operating company, with every model that fits that kind of business. Cost of equity 12.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.62 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$5.4 ~$4.3–$6.4 Left out: out of range vs price (0.10x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: This model is withheld pending its input or assumption review.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$2.4 ~$2.3–$2.5 Left out: out of range vs price (0.05x)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Rocket Lab Corp with Aerospace & Defense in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$10.11$12.28$3.77$5.53$25.47$69.76$52.07
Market value$762m$2.6bn$1.8bn$2.7bn$12.6bn$37.0bn$30.4bn
+ Net debt (− = net cash)−$53m−$591m−$140m−$57m$74m−$676m−$2.1bn
Enterprise value$710m$2.0bn$1.6bn$2.6bn$12.7bn$36.3bn$28.3bn
Multiples
Price / sales 21.7x41.4x8.3x10.9x29.0x61.5x39.6x
Price / earnings ———————
Price / free cash flow ———————
EV / EBITDA ———————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

12 /100

Weak moat

How hard Rocket Lab's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -1.4% of total assets over 5 years.

  • Pricing power 0 / 20

    Gross margin has been a median 19.3%, moving by 14.6 percentage points (standard deviation) across 6 years.

  • Durability 10 / 20

    Operating margin has been a median -61.1%; its worst year was -110.6%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 5 years, at a median -48.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 9, 2026, after the close. Analysts expect revenue of $257m and EPS of −$0.02 (range −$0.02 to −$0.01) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.27 +26% $959m +59%
Next −$0.09 +67% $1.3bn +38%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +12.0% on 90 days ago. In the last 30 days, 0 analysts raised Rocket Lab Corp's forecast and 0 cut it.

Consensus EPS forecast Rocket Lab Corp, last 90 days
−$0.30 −$0.20 −$0.10 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.25 Current fiscal year, 60 days ago: −$0.27 Current fiscal year, 30 days ago: −$0.27 Current fiscal year, 7 days ago: −$0.27 Current fiscal year, Now: −$0.27 −$0.27 Next fiscal year, 90 days ago: −$0.03 Next fiscal year, 60 days ago: −$0.07 Next fiscal year, 30 days ago: −$0.09 Next fiscal year, 7 days ago: −$0.08 Next fiscal year, Now: −$0.09 −$0.09

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.25−$0.03
60 days ago −$0.27−$0.07
30 days ago −$0.27−$0.09
7 days ago −$0.27−$0.08
Now −$0.27−$0.09

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.08 −$0.08 −4.3%
Mar 2026 −$0.08 −$0.07 +11.0%
Dec 2025 −$0.10 −$0.09 +8.2%
Sept 2025 −$0.10 −$0.03 +71.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 10, 2026
  • Revenue third quarter of 2026 $250m to $265m
    “Revenue between $250 million and $265 million.” source
  • GAAP Gross Margins third quarter of 2026 29% to 31% GAAP
    “GAAP Gross Margins between 29% and 31%.” source
  • Non-GAAP Gross Margins third quarter of 2026 35% to 37% Non-GAAP
    “Non-GAAP Gross Margins between 35% and 37%.” source
  • GAAP Operating Expenses third quarter of 2026 $143m to $149m GAAP
    “GAAP Operating Expenses between $143 million and $149 million.” source
  • Non-GAAP Operating Expenses third quarter of 2026 $121m to $127m Non-GAAP
    “Non-GAAP Operating Expenses between $121 million and $127 million.” source
  • Interest Income, net third quarter of 2026 about $21m
    “Interest Income, net $21 million.” source
Show 3 more items
  • Adjusted EBITDA loss third quarter of 2026 $17m to $23m Non-GAAP
    “Adjusted EBITDA loss of between $17 million and $23 million.” source
  • Basic Weighted Average Common Shares Outstanding third quarter of 2026 about 641m
    “Basic Weighted Average Common Shares Outstanding of 641 million, including approximately 41 million of Series A Convertible Participating Preferred Shares.” source
  • Stock-based compensation Q3 2026 $18m to $20m
    “Stock-based compensation is currently expected to range from $18 million to $20 million in Q3 2026.” source

How earlier guidance turned out

  • GAAP Gross Margins, second quarter of 2026 guided 33% to 35% Above range: 36.133398%
  • Revenue, second quarter of 2026 guided $225m to $240m Within range: $234m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

22 analysts, Oct 2026
Buy1882%
Hold418%
Sell00%

Monthly trend

  1. Oct 2026513422
  2. Sep 2026412420
  3. Aug 2026311418
  4. Jul 2026311418

Counts of recommendations published by analysts covering Rocket Lab Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.6%
of tradable shares
Days to cover
2
at average volume
Short interest, 1 month
+4%
to October 15, 2026
Held by institutions
62%
of shares
Held by insiders
0.8%
of shares
Employees
2,600
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −17.3%

$62.98 on October 31, 2025 to $52.07

ThenNowEffect
Revenue (last 12 months) $504m $769m +52.5%
P/S multiple 63.1x 39.6x −37.3%
Share count 505m 584m −13.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +1029.5%

$4.61 on November 3, 2023 to $52.07

ThenNowEffect
Revenue (last 12 months) $232m $769m +231.9%
P/S multiple 9.4x 39.6x +318.7%
Share count 475m 584m −18.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
RKLB+22%−69%+47%+361%+174%−25%
Industry peers (median)−6%−10%+13%+22%+16%−11%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
RKLB42%33%50%58%67%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
RKLB−45%−71%−48%−36%−48%−66%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 24, 2020: 83% from September 9, 2021 to April 15, 2024. Getting back needed a 487% gain, reached on November 21, 2024, 220 days after the low.

Price behaviour

52-week range
$39.48 – $150.23
From 52-week high
−65.3%
vs 50-day average
−18.4%
vs 200-day average
−34.6%
Volatility (1 year)
94%
Beta vs S&P 500
3.92

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±9.0%
After a week
5 up, 7 down
typical move ±16.1%
After a month
7 up, 5 down
typical move ±21.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 10, 2026 −3.4% −0.3% −0.9% −23.9%
May 7, 2026 +24.6% +0.5% +56.6% +34.3%
February 26, 2026 −1.6% −1.0% −0.3% −13.2%
November 10, 2025 −0.8% +1.8% −16.1% +11.4%
August 7, 2025 +1.3% +0.7% −2.9% +8.2%
May 8, 2025 −8.0% +0.6% +13.1% +33.0%
February 27, 2025 −3.6% −0.1% −12.2% −12.4%
November 12, 2024 +27.4% −0.3% +38.7% +52.8%
August 8, 2024 +17.2% +2.8% +27.3% +34.1%
May 6, 2024 −0.7% +1.1% +4.0% +11.0%
February 27, 2024 +0.4% +0.1% −7.2% −9.4%
January 31, 2024 −19.3% −0.3% −14.3% −8.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Rocket Lab Corp in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Rocket Lab Corp
$0 $200M $400M $600M $800M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $236.4M Revenue (TTM), FY23 Q4: $244.6M Revenue (TTM), FY24 Q1: $282.5M Revenue (TTM), FY24 Q2: $326.7M Revenue (TTM), FY24 Q3: $363.8M Revenue (TTM), FY24 Q4: $436.2M Revenue (TTM), FY25 Q1: $466M Revenue (TTM), FY25 Q2: $504.3M Revenue (TTM), FY25 Q3: $554.5M Revenue (TTM), FY25 Q4: $601.8M Revenue (TTM), FY26 Q1: $679.6M Revenue (TTM), FY26 Q2: $769.1M $769.1M

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $236.4M
FY23 Q4 $244.6M
FY24 Q1 $282.5M
FY24 Q2 $326.7M
FY24 Q3 $363.8M
FY24 Q4 $436.2M
FY25 Q1 $466M
FY25 Q2 $504.3M
FY25 Q3 $554.5M
FY25 Q4 $601.8M
FY26 Q1 $679.6M
FY26 Q2 $769.1M
Revenue growth, TTM YoY Rocket Lab Corp
0% 20% 40% 60% 80% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 26.6% Revenue growth, TTM YoY, FY23 Q4: 15.9% Revenue growth, TTM YoY, FY24 Q1: 25.4% Revenue growth, TTM YoY, FY24 Q2: 41.0% Revenue growth, TTM YoY, FY24 Q3: 53.9% Revenue growth, TTM YoY, FY24 Q4: 78.3% Revenue growth, TTM YoY, FY25 Q1: 65.0% Revenue growth, TTM YoY, FY25 Q2: 54.4% Revenue growth, TTM YoY, FY25 Q3: 52.4% Revenue growth, TTM YoY, FY25 Q4: 38.0% Revenue growth, TTM YoY, FY26 Q1: 45.8% Revenue growth, TTM YoY, FY26 Q2: 52.5% 52.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 26.6%
FY23 Q4 15.9%
FY24 Q1 25.4%
FY24 Q2 41.0%
FY24 Q3 53.9%
FY24 Q4 78.3%
FY25 Q1 65.0%
FY25 Q2 54.4%
FY25 Q3 52.4%
FY25 Q4 38.0%
FY26 Q1 45.8%
FY26 Q2 52.5%
Operating margin (TTM) Rocket Lab Corp
-80% -60% -40% -20% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -70.8% Operating margin (TTM), FY23 Q4: -72.7% Operating margin (TTM), FY24 Q1: -61.9% Operating margin (TTM), FY24 Q2: -53.0% Operating margin (TTM), FY24 Q3: -51.2% Operating margin (TTM), FY24 Q4: -43.5% Operating margin (TTM), FY25 Q1: -44.2% Operating margin (TTM), FY25 Q2: -44.1% Operating margin (TTM), FY25 Q3: -41.4% Operating margin (TTM), FY25 Q4: -38.0% Operating margin (TTM), FY26 Q1: -33.2% Operating margin (TTM), FY26 Q2: -29.1% -29.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -70.8%
FY23 Q4 -72.7%
FY24 Q1 -61.9%
FY24 Q2 -53.0%
FY24 Q3 -51.2%
FY24 Q4 -43.5%
FY25 Q1 -44.2%
FY25 Q2 -44.1%
FY25 Q3 -41.4%
FY25 Q4 -38.0%
FY26 Q1 -33.2%
FY26 Q2 -29.1%
FCF margin (TTM) Rocket Lab Corp
-80% -60% -40% -20% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -57.1% FCF margin (TTM), FY23 Q4: -62.8% FCF margin (TTM), FY24 Q1: -48.6% FCF margin (TTM), FY24 Q2: -45.6% FCF margin (TTM), FY24 Q3: -39.8% FCF margin (TTM), FY24 Q4: -26.6% FCF margin (TTM), FY25 Q1: -38.0% FCF margin (TTM), FY25 Q2: -40.5% FCF margin (TTM), FY25 Q3: -41.8% FCF margin (TTM), FY25 Q4: -53.5% FCF margin (TTM), FY26 Q1: -46.5% FCF margin (TTM), FY26 Q2: -48.3% -48.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -57.1%
FY23 Q4 -62.8%
FY24 Q1 -48.6%
FY24 Q2 -45.6%
FY24 Q3 -39.8%
FY24 Q4 -26.6%
FY25 Q1 -38.0%
FY25 Q2 -40.5%
FY25 Q3 -41.8%
FY25 Q4 -53.5%
FY26 Q1 -46.5%
FY26 Q2 -48.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 35 62 211 245 436 602 769
Gross profit −12 −2 19 51 116 207 287
EBITDA −46 −91 −105 −148 −156 −185 −179
Operating income −55 −102 −135 −178 −190 −229 −223
Net income −55 −117 −136 −183 −190 −198 −165
Diluted EPS −$0.73 −$0.56 −$0.29 −$0.38 −$0.38 −$0.37 −$0.28
Growth (year on year)
Revenue — +77.0% +239.0% +15.9% +78.3% +38.0% +52.5%
Margins
Gross margin −33.6% −3.0% 9.0% 21.0% 26.6% 34.4% 37.3%
EBITDA margin −129.7% −146.5% −49.9% −60.6% −35.8% −30.7% −23.2%
Operating margin −156.3% −164.0% −64.1% −72.7% −43.5% −38.0% −29.1%
Net margin −156.4% −188.5% −64.4% −74.6% −43.6% −32.9% −21.5%
Free-cash-flow margin −150.4% −156.6% −70.6% −62.8% −26.6% −53.5% −48.3%
Cash flow
Cash from operations −28 −72 −107 −99 −49 −166 −222
Capital spending 25 26 42 55 67 156 149
Free cash flow −53 −97 −149 −154 −116 −322 −371
Stock-based pay 4 33 56 53 57 71 82
Free cash flow after stock pay −57 −130 −205 −207 −173 −393 −453
Balance sheet
Cash 53 691 243 163 271 829 2,129
Total debt 0 100 103 105 345 152 13
Net debt (negative = net cash) −53 −591 −140 −57 74 −676 −2,116
Diluted shares 75m 210m 466m 482m 496m 531m 584m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

6 of 7 checks passed · June 30, 2026
What it owns · $4.2bn
Short-term assets $2.9bnLonger-term assets $1.3bn
What it owes, and who funded it · $4.2bn
Short-term liabilities $528mLonger-term liabilities $167mShareholders' equity $3.5bn
  • Short-term assets cover short-term liabilities $2.9bn of assets due within a year against $528m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.9bn short-term assets against $167m of longer-dated liabilities.
  • More cash than debt $2.1bn of cash against $2m of debt.
  • Debt below 40% of shareholders' equity Debt is 0% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 14% to 0% over five years.
  • A year's operating cash flow covers at least 20% of debt −$222m of operating cash flow against $2m of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From Rocket Lab Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+15.7%
year over year
R&D spending
40.6%
of revenue
Sales & admin spending
25.7%
of revenue
Days sales outstanding
54 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in aerospace & defense
Last 12 months unless stated RKLB CDRE DCO ATRO KRMN LOAR Median
Revenue, last 12 months $769m $686m $865m $942m $590m $586m $769m
Revenue growth, last 12 months 52.5% 19.7% 9.2% 14.5% 50.2% 29.8% 15.5%
Revenue growth, 3-year average 49.2% 13.6% 5.2% 14.9% — — 12.6%
Revenue growth, latest quarter 62.0% 31.8% 11.8% 27.0% 58.2% 39.4% 15.8%
Gross margin 37.3% 41.8% 27.4% 32.5% 41.7% 52.2% 27.8%
Operating margin −29.1% 10.1% −1.7% 13.4% 16.8% 21.9% 9.0%
Operating margin, 3-year average −42.0% 10.9% 2.9% 6.0% — 21.8% 6.0%
Net margin −21.5% 5.3% −2.5% 8.4% 6.3% 11.6% 5.5%
Cash from operations / revenue −28.9% 12.9% −1.4% 10.9% 1.0% 20.7% 5.5%
Free-cash-flow margin −48.3% 11.4% −2.8% 6.4% −4.7% 18.5% 3.4%
Free-cash-flow margin, 3-year average −44.8% 8.9% 1.9% 3.0% — 13.8% 3.0%
Stock pay / revenue 10.6% 1.8% 3.0% 0.8% 3.9% 2.9% 1.2%
Change in share count 15.7% 9.0% 1.7% 5.9% −11.4% — 3.9%

Median of all 57 companies we cover in aerospace & defense. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 aerospace & defense companies
Measure Company Peer median Rank
Revenue growth Growth 52.5% 15.5% 8 of 57
Change in growth rate Growth +6.7pp +2.2pp 13 of 57
Gross margin Profitability 37.3% 28.3% 17 of 46
Operating margin Profitability -29.1% 8.5% 38 of 51
Net margin Profitability -21.5% 5.5% 42 of 57
Free-cash-flow margin Cash generation -48.3% 3.4% 44 of 57
Stock pay as % of revenue Cash generation 10.6% 1.5% 38 of 53
Long-term debt as % of assets Balance sheet 0.0% 22.1% 4 of 47
Change in share count Balance sheet 15.7% 2.4% 37 of 51
Days sales outstanding Balance sheet 54 days 53 days 24 of 45

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Space Systems $403M 66.9% ▲ 29.6%
Launch Services $199M 33.1% ▲ 58.8%
Products and services
Line of business Revenue YoY
Space Systems $403M ▲ 29.6%
Products $372M ▲ 28.2%
Services $230M ▲ 57.3%
Launch Services $199M ▲ 58.8%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
United States $475M 79.0% ▲ 77.2%
Japan $65.6M 10.9% ▲ 113.9%
Rest of World $40.6M 6.7% ▲ 23.7%
Canada $20.2M 3.4% ▼ 80.7%

From Rocket Lab Corp's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$32.6B
Institutions reporting
1,113
Shares held vs prior quarter
▲ 10.9%
Positions opened / closed
306 / 72

Top buyers and sellers, Q2 2026: 785 institutions bought and 305 sold ; the biggest buyer was Invesco Ltd (+14.7M shares) and the biggest seller Baillie Gifford & Co (−8.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $4.1B 40.6M 12.6% ▲ 6.8%
Vanguard Portfolio Management LLC $2.8B 27.1M 8.4% ▲ 5.4%
Vanguard Capital Management LLC $2.6B 25.3M 7.9% ▲ 4.2%
Invesco Ltd. $1.9B 18.3M 5.7% ▲ 409.8%
State Street Corp $1.5B 14.4M 4.5% ▲ 3.7%
Jpmorgan Chase & Co $1.4B 13.8M 4.1% ▲ 29.3%
Geode Capital Management, LLC $1.1B 10.5M 3.3% ▼ 0.6%
Baillie Gifford & Co $1.1B 10.4M 3.2% ▼ 43.6%
Capital World Investors $749M 7.4M 2.3% ▲ 1.8%
Morgan Stanley $701M 6.9M 2.1% ▲ 28.1%
Goldman Sachs Group Inc $565M 5.6M 1.7% ▲ 117.5%
Norges Bank $553M 5.4M 1.7% —

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Rocket Lab Corp's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $683M 216 trades by 11 insiders · 93% under pre-set plans
Net ▼ $683M net selling
Insider Date Trade Shares Price Value
Spice Adam C. Chief Financial Officer October 1, 2026 Sell pre-set plan 15,200 $71.79 $1.1M
Spice Adam C. Chief Financial Officer October 1, 2026 Sell pre-set plan 85,288 $70.89 $6M
Spice Adam C. Chief Financial Officer October 1, 2026 Sell pre-set plan 39,669 $70.28 $2.8M
Spice Adam C. Chief Financial Officer September 2, 2026 Sell pre-set plan 72,900 $62.97 $4.6M
Spice Adam C. Chief Financial Officer September 2, 2026 Sell pre-set plan 67,257 $62.26 $4.2M
Kampani Arjun SVP & General Counsel August 27, 2026 Sell pre-set plan 1,434 $67.16 $96,307
Kampani Arjun SVP & General Counsel August 27, 2026 Sell pre-set plan 4,600 $66.50 $305,900
Klein Frank Chief Operations Officer August 27, 2026 Sell pre-set plan 458 $67.54 $30,933
Klein Frank Chief Operations Officer August 27, 2026 Sell pre-set plan 19,800 $66.86 $1.3M
Klein Frank Chief Operations Officer August 27, 2026 Sell pre-set plan 15,300 $66.25 $1M
Clevenger Marvin Bradford President, Rocket Lab USA, Inc August 24, 2026 Sell pre-set plan 13,924 $69.53 $968,136
Clevenger Marvin Bradford President, Rocket Lab USA, Inc August 24, 2026 Sell pre-set plan 677 $71.17 $48,182

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 9, 2026 estimated from the company's past filing pattern, not announced

  • August 10, 2026
  • May 7, 2026
  • February 26, 2026
  • November 10, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Rocket Lab Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Rocket Lab Corp in brief

What does Rocket Lab Corp do?
Rocket Lab Corp is a US-listed company in the aerospace & defense industry. Its financial year ends in December.
What is Rocket Lab Corp's stock ticker?
Rocket Lab Corp trades under the ticker RKLB on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Rocket Lab Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Rocket Lab Corp reported revenue of $769M, 52.5% higher than a year earlier, according to its SEC filings.
What is Rocket Lab Corp's free cash flow?
Rocket Lab Corp's free-cash-flow margin is -48.3% of revenue over the trailing twelve months, ranking 44 of the 57 aerospace & defense companies we cover.
Who are Rocket Lab Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Rocket Lab Corp's market cap?
On November 2, 2026, Rocket Lab Corp's market capitalisation was about $30.4B and net debt of -$2.1B. Market figures come from third-party market data and may be delayed.
How much debt does Rocket Lab Corp have?
Rocket Lab Corp's debt-to-equity ratio is 0.0%, from its latest balance sheet (13.9% five years earlier). The financial health section below sets out its other solvency checks.
Who are Rocket Lab Corp's competitors?
In our Aerospace & Defense peer group, the companies closest to Rocket Lab Corp are Cadre Holdings, Inc., Ducommun Inc, Astronics Corp, Karman Holdings Inc. and Loar Holdings Inc. The side-by-side comparison below sets their revenue, margins and growth against Rocket Lab Corp's.
Are insiders buying or selling Rocket Lab Corp stock?
Over the last 12 months, Rocket Lab Corp's directors and officers reported 0 open-market purchases and 216 sales on Form 4. The insider trading page charts every trade.
When is Rocket Lab Corp's next earnings date?
Around November 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Rocket Lab Corp announces its own schedule.