RKLBNasdaqGuided Missiles & Space Vehicles & PartsFiscal year ends December 31
Rocket Lab Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$51.36+0.52 (+1.02%)
Close on Oct 19, 2026
- Market cap
- $32.34B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2019 to 2025
Gross margin
34.4%+68.0 pts over 5 years
Operating margin
-38.0%+118.3 pts over 5 years
Net margin
-32.9%+123.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +38.0% | +41.8% | +76.5% | – | |
| Gross profit | +78.4% | +121.8% | – | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 38.6% | -18.8% | |
| Return on assets | – | – | -11.3% | |
| Current ratio | – | 1.92 | 4.08 | |
| Debt to equity | – | 0.00 | 0.00 | |
| Net debt to EBITDA | – | 1.18× | 4.47× | |
| Interest coverage | – | – | -8.6× | |
| Inventory turnover | – | – | 2.8× | |
| Capex to revenue | – | 71.4% | 26.0% | |
| Diluted shares | – | 75M | 531M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Rocket Lab generated $491.61M from operations and spent $346.20M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$491.61M
Used
$346.20M
Capital expenditure$346.20M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-32.9%
×Asset turnover0.34×
×Equity multiplier1.67×
=Return on equity, FY2025-18.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -32.9% | 0.34× | 1.67× | -18.8% |
| FY2024 | -43.6% | 0.41× | 2.27× | -40.6% |
| FY2023 | -74.6% | 0.25× | 1.57× | -29.7% |
| FY2022 | -64.4% | 0.21× | 1.44× | -19.8% |
| FY2021 | -188.5% | 0.11× | 2.20× | -44.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$198.21M
- Cash generatingOperating cash flow above zero-$165.52M
- Return on assets improvedROA up on the prior year-20.2% → -16.7%
- Earnings backed by cashOperating cash flow above net income-$165.52M vs -$198.21M
- Less leverageLong-term debt to assets fell3.7% → 0.1%
- Better liquidityCurrent ratio rose2.04 → 4.08
- No dilutionShare count did not rise496M → 531M
- Gross margin improvedGross margin up on the prior year26.63% → 34.43%
- More efficientAsset turnover rose0.46 → 0.51