A Business at a Glance
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Who We Are Our Mission: We Open Access to Space to Improve Life on Earth. Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, optical systems and other spacecraft and on-orbit management solutions that make it faster, easier and more affordable to access space. We believe that space has defined some of humanity’s greatest achievements and it continues to shape our future. We are motivated by the impact we can have on Earth by making it easier to get to space and using it as a platform for innovation, exploration and infrastructure. As one of select few commercial companies delivering regular access to orbit, our proven launch vehicle, spacecraft technology and global infrastructure uniquely position us to grow in this dynamic market.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 602M | 602M | 436M | 245M | 211M | 62M |
| Net Income | -198M | -198M | -190M | -183M | -136M | -117M |
| EPS | $-0.37 | $-0.37 | $-0.38 | $-0.38 | $-0.29 | $-0.56 |
| Free Cash Flow | -322M | -322M | -116M | -154M | -149M | -97M |
| ROIC | -18.4% | -18.4% | -44.6% | -25.8% | -17.3% | -37.3% |
| Gross Margin | 34.4% | 34.4% | 26.6% | 21.0% | 9.0% | -3.0% |
| Debt/Equity | 0.05 | 0.05 | 0.31 | 0.30 | 0.21 | 0.19 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -229M | -229M | -190M | -178M | -135M | -102M |
| Operating Margin | -38.0% | -38.0% | -43.5% | -72.7% | -64.1% | -164.0% |
| ROE | -11.5% | -18.8% | -49.7% | -29.7% | -19.8% | -44.1% |
| Shares Outstanding | 536M | 536M | 500M | 480M | 469M | 450M |
| Metric | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 35M | 62M | 211M | 245M | 436M | 602M | 602M |
| Gross Margin | -33.6% | -3.0% | 9.0% | 21.0% | 26.6% | 34.4% | 34.4% |
| R&D | 19M | 42M | 65M | 119M | 174M | 271M | 271M |
| SG&A | 24M | 58M | 89M | 110M | 132M | 165M | 165M |
| EBIT | -55M | -102M | -135M | -178M | -190M | -229M | -229M |
| Op. Margin | -156.3% | -164.0% | -64.1% | -72.7% | -43.5% | -38.0% | -38.0% |
| Net Income | -55M | -117M | -136M | -183M | -190M | -198M | -198M |
| Net Margin | -156.4% | -188.5% | -64.4% | -74.6% | -43.6% | -32.9% | -32.9% |
| Non-Recurring | -1.5M | -156K | -923K | 111K | 0 | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | -29.3% | -37.3% | -17.3% | -25.8% | -44.6% | -18.4% | -18.4% |
| ROE | N/A | -44.1% | -19.8% | -29.7% | -49.7% | -18.8% | -11.5% |
| ROA | -29.3% | -20.1% | -13.8% | -18.9% | -16.1% | -11.3% | -8.5% |
| Cash Flow | |||||||
| Op. Cash Flow | -28M | -72M | -107M | -99M | -49M | -166M | -166M |
| Free Cash Flow | -53M | -97M | -149M | -154M | -116M | -322M | -322M |
| Owner Earnings | -48M | -127M | -199M | -201M | -139M | -281M | -281M |
| CapEx | 25M | 26M | 42M | 55M | 67M | 156M | 156M |
| Maint. CapEx | 16M | 22M | 36M | 49M | 34M | 44M | 44M |
| Growth CapEx | 9.3M | 3.5M | 6.0M | 5.6M | 33M | 112M | 112M |
| D&A | 16M | 22M | 36M | 49M | 34M | 44M | 44M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 30M | 30M | 30M | 0 | 0 | 0 |
| Buyback Yield | N/A | 0.6% | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 4.2M | 33M | 56M | 53M | 57M | 71M | 71M |
| Debt Repayment | 0 | 15M | 0 | 1.4M | 12M | 278K | 278K |
| Balance Sheet | |||||||
| Net Debt | -25M | -559M | -330M | -78M | -299M | -930M | -742M |
| Cash & Equiv. | 53M | 691M | 243M | 163M | 271M | 829M | 829M |
| Long-Term Debt | 0 | 97M | 100M | 88M | 44M | 1.7M | 1.7M |
| Debt/Equity | -0.16 | 0.19 | 0.21 | 0.30 | 0.31 | 0.05 | 0.05 |
| Interest Coverage | -578.4 | -25.6 | -150.2 | -184.0 | -7.3 | -8.6 | -8.6 |
| Equity | -167M | 698M | 673M | 555M | 382M | 1.7B | 1.7B |
| Total Assets | 188M | 981M | 989M | 941M | 1.2B | 2.3B | 2.3B |
| Total Liabilities | 80M | 282M | 316M | 387M | 802M | 603M | 603M |
| Intangibles | 11M | 57M | 80M | 68M | 59M | 225M | 225M |
| Retained Earnings | -188M | -305M | -441M | -624M | -814M | -1.0B | -1.0B |
| Working Capital | 45M | 678M | 499M | 253M | 353M | 1.0B | 1.0B |
| Current Assets | 93M | 775M | 662M | 477M | 693M | 1.4B | 1.4B |
| Current Liabilities | 48M | 96M | 163M | 223M | 340M | 334M | 334M |
| Per Share Data | |||||||
| EPS | -0.73 | -0.56 | -0.29 | -0.38 | -0.38 | -0.37 | -0.37 |
| Owner EPS | -0.63 | -0.28 | -0.42 | -0.42 | -0.28 | -0.52 | -0.52 |
| Book Value | -2.21 | 1.55 | 1.44 | 1.15 | 0.76 | 3.21 | 3.21 |
| Cash Flow/Share | -0.37 | -0.16 | -0.23 | -0.21 | -0.10 | -0.31 | -0.29 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 75.3M | 450.2M | 468.8M | 480.4M | 500.5M | 535.7M | 535.7M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | -195.2 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 7.6 | 2.5 | 5.0 | 35.6 | 22.0 | 22.5 |
| Price/Sales | 21.8 | 85.4 | 13.8 | 9.6 | 9.2 | 33.5 | 64.3 |
| FCF Yield | -6.8% | -1.8% | -8.9% | -5.5% | -0.9% | -0.9% | -0.8% |
| Market Cap | 778M | 5.3B | 1.7B | 2.8B | 13.6B | 37.8B | 38.7B |
| Avg. Price | 10.16 | 11.80 | 6.22 | 4.90 | 8.01 | 37.62 | 72.22 |
| Year-End Price | 10.32 | 11.73 | 3.58 | 5.79 | 27.22 | 70.65 | 72.22 |
Rocket Lab Corp passes 0 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 17.6%. At current prices, the estimated annualized return to fair value is -11.3%.
Rocket Lab Corp (RKLB) has a 5-year average return on invested capital (ROIC) of -28.7%. This is below average and may indicate limited pricing power.
Rocket Lab Corp (RKLB) has a market capitalization of $38.7B. It is classified as a large-cap stock.
Rocket Lab Corp (RKLB) does not currently pay a regular dividend.
Rocket Lab Corp (RKLB) operates in the Guided Missiles & Space Vehicles & Parts industry, within the Industrials sector.
Rocket Lab Corp (RKLB) reported annual revenue of $602 million in its most recent fiscal year, based on SEC EDGAR filings.
Rocket Lab Corp (RKLB) has a net profit margin of -32.9%. The company is currently unprofitable.
Rocket Lab Corp (RKLB) generated $-322 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Rocket Lab Corp (RKLB) has a debt-to-equity ratio of 0.05. This indicates a conservatively financed balance sheet.
Rocket Lab Corp (RKLB) reported earnings per share (EPS) of $-0.37 in its most recent fiscal year.
Rocket Lab Corp (RKLB) has a return on equity (ROE) of -18.8%. A negative ROE may indicate losses or negative equity.
Rocket Lab Corp (RKLB) has a 5-year average gross margin of 17.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 6 years of financial data for Rocket Lab Corp (RKLB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Rocket Lab Corp (RKLB) has a book value per share of $3.21, based on its most recent annual SEC filing.
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