LHX vs RKLB: L3Harris Technologies and Rocket Lab USA compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- L3Harris Technologies is the larger company, worth $44.6B, close to Rocket Lab USA's $41.1B.
- Rocket Lab USA grew revenue faster over the last year (+62.0% vs +8.4%).
- L3Harris Technologies keeps more of each dollar of revenue as operating profit (10.3% vs -29.1%).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | LHX | RKLB |
|---|---|---|
| Market cap | $44.6B | $41.1B |
| Share price | $236.97 | $68.21 |
| Revenue (last fiscal year) | — | $602M |
| Free cash flow (last fiscal year) | $2.7B | -$322M |
| Revenue growth, last year | +8.4% | +62.0% |
| Revenue growth per year, last 5 fiscal years | — | +76.3% |
| Operating margin | 10.3% | -29.1% |
| Net margin | 4.8% | -21.5% |
| Return on equity | 9.4% | -4.7% |
| P/E (trailing) | 26.0x | — |
| Price / free cash flow | 16.6x | — |
| EV / EBITDA | 10.8x | — |
| FCF growth the price implies | 2.6% | — |
| Dividend yield | 1.2% | — |
| Debt / equity | 1.11x | 0.20x |
| Fundamental grade | C | D |
| Superinvestors holding it | 8 | 3 |
| Insider purchases, last 12 months | 2 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
L3Harris Technologies
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $17.8B | $2.3B | 11.8% |
| 2022 | $17.1B | $1.9B | 6.6% |
| 2023 | $19.4B | $1.6B | 7.3% |
| 2024 | $21.3B | $2.2B | 9.0% |
| 2025 | — | $2.7B | — |
Rocket Lab USA
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $62M | -$97M | -164.0% |
| 2022 | $211M | -$149M | -64.1% |
| 2023 | $245M | -$154M | -72.7% |
| 2024 | $436M | -$116M | -43.5% |
| 2025 | $602M | -$322M | -38.0% |
Where the revenue comes from
L3Harris Technologies · by segments, 2024
SAS$6.9B32%
IMS$6.6B31%
CS$5.5B25%
AR$2.6B12%
Rocket Lab USA · by segments, 2025
Space Systems$403M67%
Launch Services$199M33%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open LHX in InvestinglyQuestions
Which is bigger, L3Harris Technologies or Rocket Lab USA?
L3Harris Technologies (LHX), at $44.6B against $41.1B.
Which grows faster, LHX or RKLB?
Rocket Lab USA: revenue grew +62.0% over the last year, against +8.4%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.