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Rocket Lab USA, Inc. (RKLB) 10-Year Financial Performance & Capital Metrics

RKLB • • Industrial / General
IndustrialsAerospace & DefenseSpace Systems & Launch ServicesLaunch Vehicle Providers
AboutRocket Lab USA, Inc., a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft engineering and design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets. It also designs, manufactures, and sells Electron small orbital launch vehicles and the Photon satellite platforms, as well as developing the Neutron 8-ton payload class launch vehicle; conducts remote launch activities; and designs and manufactures a range of components and subsystems for the Photon family of spacecraft and broader merchant spacecraft components. The company serves commercial, aerospace prime contractors, and government customers. The company was founded in 2006 and is headquartered in Long Beach, California.Show more
  • Revenue $436M +78.3%
  • EBITDA -$156M -5.4%
  • Net Income -$190M -4.2%
  • EPS (Diluted) -0.38
  • Gross Margin 26.63% +26.7%
  • EBITDA Margin -35.8% +40.9%
  • Operating Margin -43.51% +40.2%
  • Net Margin -43.6% +41.6%
  • ROE -40.59% -36.5%
  • ROIC -24.79% -7.0%
  • Debt/Equity 1.22 +284.4%
  • Interest Coverage -48.00 -14.6%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 96 (top 4%)
  • ✓Strong 5Y sales CAGR of 55.2%
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Expensive at 114.0x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y55.23%
3Y91.37%
TTM52.42%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-4.94%

EPS CAGR

10Y-
5Y-
3Y-
TTM-1.47%

ROCE

10Y Avg-23.26%
5Y Avg-23.88%
3Y Avg-21.05%
Latest-24.29%

Peer Comparison

Launch Vehicle Providers
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
MNTSMomentus Inc.17.26M10.34-4.46-31.56%-44.56%
FLYFirefly Aerospace Inc.4.85B30.44-16.4510.06%-380.2%
RKLBRocket Lab USA, Inc.46.95B87.90-231.3278.34%-35.64%-15.43%1.22

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+48.4M35.16M62.24M211M244.59M436.21M
Revenue Growth %--0.27%0.77%2.39%0.16%0.78%
Cost of Goods Sold+49.48M46.98M64.13M192.01M193.18M320.06M
COGS % of Revenue1.02%1.34%1.03%0.91%0.79%0.73%
Gross Profit+-1.08M-11.82M-1.89M18.99M51.41M116.15M
Gross Margin %-0.02%-0.34%-0.03%0.09%0.21%0.27%
Gross Profit Growth %--9.98%0.84%11.03%1.71%1.26%
Operating Expenses+31.72M43.13M100.16M154.19M229.33M305.95M
OpEx % of Revenue0.66%1.23%1.61%0.73%0.94%0.7%
Selling, General & Admin19.09M23.99M58.4M89.03M110.27M131.56M
SG&A % of Revenue0.39%0.68%0.94%0.42%0.45%0.3%
Research & Development12.73M19.14M41.77M65.17M119.05M174.39M
R&D % of Revenue0.26%0.54%0.67%0.31%0.49%0.4%
Other Operating Expenses-95K00000
Operating Income+-32.89M-54.95M-102.05M-135.2M-177.92M-189.8M
Operating Margin %-0.68%-1.56%-1.64%-0.64%-0.73%-0.44%
Operating Income Growth %--0.67%-0.86%-0.32%-0.32%-0.07%
EBITDA+-28.02M-45.61M-91.2M-105.26M-148.17M-156.15M
EBITDA Margin %-0.58%-1.3%-1.47%-0.5%-0.61%-0.36%
EBITDA Growth %--0.63%-1%-0.15%-0.41%-0.05%
D&A (Non-Cash Add-back)4.87M9.34M10.85M29.95M29.74M33.66M
EBIT-32.89M-54.95M-102.05M-125.15M-174.67M-185.46M
Net Interest Income+2.79M224K-6.13M-7.8M-4.25M-3.95M
Interest Income2.79M224K0000
Interest Expense006.13M7.8M4.25M3.95M
Other Income/Expense2.89M414K-22.79M2.26M-1M390K
Pretax Income+-30.01M-54.54M-124.84M-132.95M-178.92M-189.41M
Pretax Margin %-0.62%-1.55%-2.01%-0.63%-0.73%-0.43%
Income Tax+354K467K-7.52M3M3.65M764K
Effective Tax Rate %1.01%1.01%0.94%1.02%1.02%1%
Net Income+-30.36M-55.01M-117.32M-135.94M-182.57M-190.18M
Net Margin %-0.63%-1.56%-1.89%-0.64%-0.75%-0.44%
Net Income Growth %--0.81%-1.13%-0.16%-0.34%-0.04%
Net Income (Continuing)-30.36M-55.01M-117.32M-135.94M-182.57M-190.18M
Discontinued Operations000000
Minority Interest000000
EPS (Diluted)+-0.08-0.12-0.26-0.29-0.38-0.38
EPS Growth %--0.58%-1.17%-0.12%-0.31%0%
EPS (Basic)-0.08-0.12-0.26-0.29-0.38-0.38
Diluted Shares Outstanding400.83M447.92M452.21M466.21M481.77M495.93M
Basic Shares Outstanding400.83M447.92M452.21M466.21M481.77M495.93M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+124.63M93.11M774.76M662.29M476.72M692.62M
Cash & Short-Term Investments95.88M52.79M690.96M471.79M244.77M418.99M
Cash Only95.88M52.79M690.96M242.51M162.52M271.04M
Short-Term Investments000229.28M82.25M147.95M
Accounts Receivable8.25M10.64M19.01M47.47M61.8M111.53M
Days Sales Outstanding62.21110.51111.4982.1192.2293.32
Inventory14.16M26.14M47.9M92.28M107.86M119.07M
Days Inventory Outstanding104.44203.06272.65175.42203.78135.79
Other Current Assets6.35M914K2.1M7.63M14.26M4.99M
Total Non-Current Assets+70.56M94.75M206.08M326.83M464.49M491.72M
Property, Plant & Equipment65.72M76.73M93.76M152.37M219.8M262.9M
Fixed Asset Turnover0.74x0.46x0.66x1.38x1.11x1.66x
Goodwill03.13M43.31M71.02M71.02M71.02M
Intangible Assets1.33M11.35M57.49M79.69M68.09M58.64M
Long-Term Investments0009.19M79.25M60.69M
Other Non-Current Assets3.5M1.14M5.67M10.66M22.83M35.47M
Total Assets+195.19M187.87M980.85M989.12M941.21M1.18B
Asset Turnover0.25x0.19x0.06x0.21x0.26x0.37x
Asset Growth %--0.04%4.22%0.01%-0.05%0.26%
Total Current Liabilities+31.94M48.42M96.31M162.94M223.37M339.52M
Accounts Payable6.46M3.37M3.49M12.08M29.3M53.06M
Days Payables Outstanding47.6626.1719.8622.9755.3760.51
Short-Term Debt002.83M2.91M17.76M12.04M
Deferred Revenue (Current)01000K1000K1000K1000K1000K
Other Current Liabilities25.48M7.77M11M22.25M15.04M17.95M
Current Ratio3.90x1.92x8.04x4.06x2.13x2.04x
Quick Ratio3.46x1.38x7.55x3.50x1.65x1.69x
Cash Conversion Cycle118.99287.4364.28234.56240.64168.61
Total Non-Current Liabilities+26.03M306.16M186.09M152.98M163.29M462.36M
Long-Term Debt26.02M097.3M100.04M87.59M389.44M
Capital Lease Obligations027.3M28.3M49.83M71.34M66.94M
Deferred Tax Liabilities00466K95K426K891K
Other Non-Current Liabilities1K278.86M60.03M3M3.94M5.1M
Total Liabilities57.97M354.58M282.4M315.92M386.67M801.89M
Total Debt+26.02M27.3M128.43M152.78M176.69M468.42M
Net Debt-69.85M-25.49M-562.53M-89.73M14.17M197.38M
Debt / Equity0.19x-0.18x0.23x0.32x1.22x
Debt / EBITDA------
Net Debt / EBITDA------
Interest Coverage---16.65x-17.34x-41.88x-48.00x
Total Equity+137.22M-166.71M698.45M673.21M554.54M382.45M
Equity Growth %--2.21%5.19%-0.04%-0.18%-0.31%
Book Value per Share0.34-0.371.541.441.150.77
Total Shareholders' Equity137.22M-166.71M698.45M673.21M554.54M382.45M
Common Stock08K45K48K49K50K
Retained Earnings-132.69M-187.69M-305.01M-440.95M-623.53M-813.7M
Treasury Stock000000
Accumulated OCI-79K1.05M1.31M1.14M1.54M-2.81M
Minority Interest000000

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-21.61M-27.76M-71.79M-106.54M-98.87M-48.89M
Operating CF Margin %-0.45%-0.79%-1.15%-0.5%-0.4%-0.11%
Operating CF Growth %--0.28%-1.59%-0.48%0.07%0.51%
Net Income-30.36M-55.01M-117.32M-135.94M-182.57M-190.18M
Depreciation & Amortization4.87M9.34M10.85M29.95M29.74M33.66M
Stock-Based Compensation3.93M4.22M32.56M55.65M53.46M56.82M
Deferred Taxes4.78M-713K-9.98M-576K708K599K
Other Non-Cash Items797K5.62M19.5M-7.93M7.08M4.42M
Working Capital Changes-5.62M8.78M-7.4M-47.69M-7.29M45.79M
Change in Receivables1.73M4.5M-5.97M-9.43M-2.05M-51.59M
Change in Inventory-10.43M-11.26M-12.07M-25.96M-15.56M-12.4M
Change in Payables0-1.6M-4.52M-2.13M15.59M24.8M
Cash from Investing+-24.32M-37.33M-92.13M-346.08M12.02M-98.33M
Capital Expenditures-24.32M-25.12M-25.7M-42.41M-54.71M-67.09M
CapEx % of Revenue0.5%0.71%0.41%0.2%0.22%0.15%
Acquisitions------
Investments------
Other Investing00003.66M2.9M
Cash from Financing+-83K21.48M799.94M2.04M7.37M256.68M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing-83K978K731.4M2.31M5.28M-46.27M
Net Change in Cash------
Free Cash Flow+-45.92M-52.88M-97.49M-148.95M-153.57M-115.98M
FCF Margin %-0.95%-1.5%-1.57%-0.71%-0.63%-0.27%
FCF Growth %--0.15%-0.84%-0.53%-0.03%0.24%
FCF per Share-0.11-0.12-0.22-0.32-0.32-0.23
FCF Conversion (FCF/Net Income)0.71x0.50x0.61x0.78x0.54x0.26x
Interest Paid003.99M10.75M15.55M16.29M
Taxes Paid001.84M2.67M769K269K

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)-22.13%--44.13%-19.82%-29.74%-40.59%
Return on Invested Capital (ROIC)-36.62%--56.31%-28.19%-23.16%-24.79%
Gross Margin-2.22%-33.61%-3.04%9%21.02%26.63%
Net Margin-62.73%-156.44%-188.51%-64.43%-74.64%-43.6%
Debt / Equity0.19x-0.18x0.23x0.32x1.22x
Interest Coverage---16.65x-17.34x-41.88x-48.00x
FCF Conversion0.71x0.50x0.61x0.78x0.54x0.26x
Revenue Growth--27.35%77.01%239.02%15.92%78.34%

Revenue by Segment

2021202220232024
Space Systems23.27M150.31M172.7M310.84M
Space Systems Growth-546.05%14.89%79.99%
Launch Services38.97M60.69M71.89M125.38M
Launch Services Growth-55.72%18.47%74.39%

Revenue by Geography

2021202220232024
UNITED STATES-164.59M184.75M268.33M
UNITED STATES Growth--12.25%45.24%
CANADA--36.12M104.39M
CANADA Growth---189.04%
Rest Of World5.95M25.84M18.23M32.82M
Rest Of World Growth-334.38%-29.46%80.06%
JAPAN-15.31M-30.68M
JAPAN Growth----
GERMANY9.77M5.26M5.5M-
GERMANY Growth--46.16%4.62%-
U S45.75M---
U S Growth----
J P769K---
J P Growth----

Frequently Asked Questions

Growth & Financials

Rocket Lab USA, Inc. (RKLB) reported $554.5M in revenue for fiscal year 2024. This represents a 1046% increase from $48.4M in 2019.

Rocket Lab USA, Inc. (RKLB) grew revenue by 78.3% over the past year. This is strong growth.

Rocket Lab USA, Inc. (RKLB) reported a net loss of $197.6M for fiscal year 2024.

Dividend & Returns

Rocket Lab USA, Inc. (RKLB) has a return on equity (ROE) of -40.6%. Negative ROE indicates the company is unprofitable.

Rocket Lab USA, Inc. (RKLB) had negative free cash flow of $231.6M in fiscal year 2024, likely due to heavy capital investments.

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