Rocket Lab USA, Inc. (RKLB) Financial Ratios
7 years of historical data (2019–2025) · Industrials · Aerospace & Defense
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: N/A
P/B Ratio
↑
24.22
↑+73% vs avg
5yr avg: 13.98
30Y Low2.6·High33.0
ROE
↑
-18.8%
↓+38% vs avg
5yr avg: -30.6%
30Y Low-44%·High-19%
Debt/EBITDA
N/A
—
5yr avg: N/A
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
RKLB Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Rocket Lab USA, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $45.2B | $37.0B | $12.6B | $2.7B | $1.8B | $5.6B | $4.5B | — |
| Enterprise Value | $44.7B | $36.4B | $12.8B | $2.7B | $1.7B | $5.0B | $4.5B | — |
| P/E Ratio → | -212.38 | — | — | — | — | — | — | — |
| P/S Ratio | 75.18 | 61.51 | 28.96 | 10.89 | 8.33 | 89.23 | 128.80 | — |
| P/B Ratio | 24.22 | 21.50 | 33.03 | 4.80 | 2.61 | 7.95 | — | — |
| P/FCF | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
RKLB EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 60.56 | 29.41 | 10.95 | 7.90 | 80.19 | 128.07 | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — |
RKLB Profitability
Margins and return-on-capital ratios measuring operating efficiency
Rocket Lab USA, Inc. earns an operating margin of -38.0%, below the Industrials sector average of 4.9%. Operating margins have expanded from -72.7% to -38.0% over the past 3 years, signaling improving operational efficiency. A negative ROE of -18.8% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.4% | 34.4% | 26.6% | 21.0% | 9.0% | -3.0% | -33.6% | -2.2% |
| Operating Margin | -38.0% | -38.0% | -43.5% | -72.7% | -64.1% | -164.0% | -156.3% | -68.0% |
| Net Profit Margin | -32.9% | -32.9% | -43.6% | -74.6% | -64.4% | -188.5% | -156.4% | -62.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -18.8% | -18.8% | -40.6% | -29.7% | -19.8% | -44.1% | — | -22.1% |
| ROA | -11.3% | -11.3% | -17.9% | -18.9% | -13.8% | -20.1% | -28.7% | -15.6% |
| ROIC | -19.9% | -19.9% | -24.8% | -23.2% | -28.2% | -56.3% | — | -36.6% |
| ROCE | -16.1% | -16.1% | -24.3% | -23.0% | -15.8% | -19.9% | -36.3% | -20.2% |
RKLB Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $829M exceeds total debt of $254M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.15 | 0.15 | 1.22 | 0.32 | 0.23 | 0.18 | — | 0.19 |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.33 | 0.52 | 0.03 | -0.13 | -0.81 | — | -0.51 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | -7.53 | -7.53 | -46.90 | -41.12 | -16.05 | -16.65 | — | — |
Net cash position: cash ($829M) exceeds total debt ($254M)
RKLB Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Rocket Lab USA, Inc.'s current ratio of 4.08x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 3.61x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.13x to 4.08x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.08 | 4.08 | 2.04 | 2.13 | 4.06 | 8.04 | 1.92 | 3.90 |
| Quick Ratio | 3.61 | 3.61 | 1.69 | 1.65 | 3.50 | 7.55 | 1.38 | 3.46 |
| Cash Ratio | 3.04 | 3.04 | 1.23 | 1.10 | 2.90 | 7.17 | 1.09 | 3.00 |
| Asset Turnover | — | 0.26 | 0.37 | 0.26 | 0.21 | 0.06 | 0.19 | 0.25 |
| Inventory Turnover | 2.49 | 2.49 | 2.69 | 1.79 | 2.08 | 1.34 | 1.80 | 3.49 |
| Days Sales Outstanding | — | 74.59 | 93.32 | 92.22 | 82.11 | 111.49 | 110.51 | 62.21 |
RKLB Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Rocket Lab USA, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.5% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.5% | 0.0% | — |
| Shares Outstanding | — | $531M | $496M | $482M | $466M | $452M | $448M | $401M |
Peer Comparison
Compare RKLB with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 RKLBYou | $45B | -212.4 | — | — | 34.4% | -38.0% | -18.8% | -19.9% | — |
 SPCE | $158M | -0.2 | — | — | -1179.5% | -5352.9% | -83.8% | -42.0% | — |
 MNTS | $3M | -0.1 | — | — | 96.9% | -1404.1% | — | -734.0% | — |
 ASTS | $19B | -48.8 | — | — | 53.4% | -405.7% | -18.9% | -47.1% | — |
 BA | $182B | 93.2 | — | — | 4.8% | -6.1% | 289.7% | -9.5% | — |
 LMT | $118B | 23.8 | 16.1 | 17.1 | 10.2% | 10.3% | 76.9% | 23.9% | 2.6 |
 NOC | $78B | 19.0 | 16.3 | 23.7 | 19.8% | 10.2% | 26.2% | 10.2% | 3.4 |
 RTX | $238B | 35.6 | 21.0 | 30.0 | 20.1% | 10.0% | 10.4% | 6.7% | 3.1 |
 GD | $94B | 22.5 | 16.8 | 23.7 | 15.1% | 10.2% | 17.7% | 12.5% | 1.6 |
 BKSY | $1B | -15.4 | — | — | 38.4% | -44.0% | -74.4% | -26.5% | — |
 SATL | $888M | -36.8 | — | — | — | — | -91.7% | — | — |
| Industrials Median | — | 25.5 | 13.8 | 20.7 | 32.7% | 4.9% | 8.2% | 6.3% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonRKLB — Frequently Asked Questions
Quick answers to the most common questions about buying RKLB stock.
What is Rocket Lab USA, Inc.'s P/E ratio?
Rocket Lab USA, Inc.'s current P/E ratio is -212.4x. This places it at the 50th percentile of its historical range.
What is Rocket Lab USA, Inc.'s ROE?
Rocket Lab USA, Inc.'s return on equity (ROE) is -18.8%. The historical average is -29.2%.
Is RKLB stock overvalued?
Based on historical data, Rocket Lab USA, Inc. is trading at a P/E of -212.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Rocket Lab USA, Inc.'s profit margins?
Rocket Lab USA, Inc. has 34.4% gross margin and -38.0% operating margin.