Rocket Lab USA, Inc.

RKLBNASDAQIndustrials● Active

$113.73

+$3.65(+3.32%)

Market Cap$65.8B

P/E Ratio—

52W High$151

52W Low$25.24

Avg Volume25.7M

Open$114.57

Beta2.50

Free Cash Flow Financials Revenue

Rocket Lab USA, Inc. (RKLB) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

RKLB · free cash flow · updated Jun 8, 2026

Core FCF metrics

RKLB · FCF · TTM · margin & CAGR

Free cash flow was −$321.8M for FY2025 (fiscal year ending 2025-12-31), down 177.5% year-over-year The FCF margin was -53.5%.

FY2025 Free Cash Flow−$321.8M▼ -177.5% YoY

Trailing 12M (TTM)−$316.3Mtrailing 4 quarters sum

FCF Margin-53.5%−$321.8M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

RKLB · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$165.5M(156M)−$321.8M▼ 177.5%-53.5%

FY2024−$48.9M(67M)−$116.0M▲ +24.5%-26.6%

FY2023−$98.9M(55M)−$153.6M▼ 3.1%-62.8%

FY2022−$106.5M(42M)−$148.9M▼ 52.8%-70.6%

FY2021−$71.8M(26M)−$97.5M▼ 84.4%-156.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

RKLB · P/FCF · FCF yield · FCF per share

Rocket Lab USA, Inc. (RKLB) reported negative free cash flow of −$0.32B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

RKLB · cash flow statement · operating / investing / financing

For FY2025, Rocket Lab USA, Inc. generated −$165.5M in operating cash flow and spent 156M in capital expenditures, yielding −$321.8M in free cash flow.

Operating Activities

−$165.5M

Cash from core business operations

2025-12-31

Investing Activities

−$347.4M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$1.07B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$165.5M) − |CapEx| (156M) = FCF (−$321.8M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

RKLB vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Rocket Lab USA, Inc.YOU

RKLB

−$321.8M-177.5%-53.5%

Loss

Space Exploration Technologies Corp.

SPCX

−$13.95B-159.0%-74.7%

Loss

Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Rocket Lab USA, Inc. (RKLB) reported free cash flow of −$321.8M for FY2025 (fiscal year ending 2025-12-31), down 177.5% year-over-year. The FCF margin was -53.5%.

Rocket Lab USA, Inc. has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 7 fiscal years.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

RKLB free cash flow · 8 questions

Rocket Lab USA, Inc. free cash flow was −$321.8M for FY2025, down 177.5% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$316.3M.

RKLB free cash flowRKLB FCFRKLB FCF 2025RKLB free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Rocket Lab USA, Inc. · Rocket Lab USA, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026