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Rocket Lab Corp (RKLB) stock analysis

RKLBNasdaqGuided Missiles & Space Vehicles & PartsFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 9, 2026Score 8/30121% above fair value
$61.53−2.54 (-3.96%)

Close on Nov 13, 2026Market cap $36.82BP/E –Yield –

StockData Score

Prices as of Nov 13, 2026How the score works

Value0Growth3Performance2Health3Dividend0

Weak8 of 30 checks passed

Rocket Lab passes 8 of the 30 checks behind our score; 11 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
0/6
Growth
3/6
Past performance
2/6
Financial health
3/6
Dividend
0/6

What stands out

  • Low debt

    Debt is 0.0% of shareholders' equity, under the 40% we consider low.

  • Revenue growing 10%+ a year

    Revenue grew 41.8% a year over the last three fiscal years.

  • Low bankruptcy risk

    The Altman Z-score is 29.44; above 3 is the safe zone and below 1.8 the distress zone.

  • Growing faster than the industry

    Revenue grew 59.0% over the last twelve months; the Transportation Equipment median is 43.8%.

What to watch

  • Margin of safety under 20%

    The price is 121% above fair value, so there is no margin of safety.

  • Trading above fair value

    The share price of $61.53 is above our fair value estimate of $27.87.

  • Return on equity under 15%

    Return on equity was -6.4% over the last twelve months and averaged -30.6% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was -24.6%, below the 10% that usually covers the cost of capital.

Valuation0/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/B above the industry

    Rocket Lab's price-to-book of 6.34 is above the Transportation Equipment median of 1.81.

  • Trading above fair value

    The share price of $61.53 is above our fair value estimate of $27.87.

  • Margin of safety under 20%

    The price is 121% above fair value, so there is no margin of safety.

Growth3/6

  • Revenue growing 10%+ a year

    Revenue grew 41.8% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing faster than the industry

    Revenue grew 59.0% over the last twelve months; the Transportation Equipment median is 43.8%.

  • Guidance lowered

    Rocket Lab lowered its Q4 2026 Stock-based compensation outlook on Nov 9, 2026.

  • Gross margin improving

    Gross margin was 36.2% over the last twelve months, against 31.7% a year earlier.

Past performance2/6

  • Return on equity under 15%

    Return on equity was -6.4% over the last twelve months and averaged -30.6% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was -24.6%, below the 10% that usually covers the cost of capital.

  • Return on equity below the industry

    Rocket Lab's return on equity of -6.4% is below the Transportation Equipment median of 2.4%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin above its 5-year average

    Net margin was -25.7% over the last twelve months, against a 5-year average of -80.8%.

  • Net margin above the industry

    Rocket Lab's net margin of -25.7% is above the Transportation Equipment median of -65.7%.

Financial health3/6

  • Low debt

    Debt is 0.0% of shareholders' equity, under the 40% we consider low.

  • Debt rising against equity

    Debt to equity rose from 0.0% five years ago to 0.0%.

  • Debt not well covered by cash flow

    Operating cash flow over the last twelve months equals -11176% of total debt; we look for at least 20%.

  • Interest not well covered

    Operating income covers interest expense -33.9 times; we look for at least 5.

  • Short-term assets cover short-term debts

    Current assets are 8.55 times current liabilities.

  • Low bankruptcy risk

    The Altman Z-score is 29.44; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Rocket Lab has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$27.87

The share price is 121% above this estimate.

20%+ below
Near fair value
20%+ above
$61.53Price$27.87Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/B3.9×6.0×1.8×$37.9050%
P/S12.1×23.2×0.9×$17.8450%
Fair value$27.87100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/B at month end
  • Own 5-year median 6.0
  • Transportation Equipment median 1.8

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$1.20B
Value traded per 1% price move
$332.84M

Downside

High risk

Typical loss in a bad month
38.4%
Volatility (annualized)
96%
Sharpe ratio, 1 year
0.19
Beta to the S&P 500 (5Y)
2.40

Typical bad-month loss, week by week

25%: high

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

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