Rocket Lab vs Firefly Aerospace stock: RKLB vs FLY
Updated from live prices and SEC filings
As of 18 Oct 2026: By market value, Rocket Lab is about 11 times the size of Firefly Aerospace ($31.92B against $2.80B). This year Rocket Lab has returned -33.1% and Firefly Aerospace -29.5%. Over the past year: Rocket Lab -23.3%, Firefly Aerospace -36.5%.
Rocket Lab and Firefly Aerospace are both US-listed launch companies that started with small rockets and are moving into larger ones and missions beyond Earth orbit. Rocket Lab flies Electron and is developing Neutron, and builds spacecraft and components. Firefly flies the Alpha rocket and builds the Blue Ghost lunar lander, which landed on the Moon in March 2025 for NASA. Firefly listed on Nasdaq in August 2025.
RKLB vs FLY side by side
| RKLB Rocket Lab | FLY Firefly Aerospace | |
|---|---|---|
| Share price | $50.84 | $16.75 |
| Market cap | $31.92B | $2.80B |
| Year to date | -33.1% | -29.5% |
| 1 year | -23.3% | -36.5% |
| Revenue | $769.1M (12 months) | $287.0M (12 months) |
| Revenue growth | +52.5% (12 months) | +179.2% (12 months) |
| Gross margin | 37.3% | 22.9% |
| Net income | -$165.5M (12 months) | -$363.5M (12 months) |
| Cash and investments | $2.30B | $635.3M |
| Debt | $13.1M | $19.6M |
| Free cash flow (12 months) | -$371.1M | -$326.5M |
| Cash runway | 6.2 years | 23 months |
| Shares outstanding, 1y change | +24.8% | +14.2% |
| Insider buying minus selling (12 months) | -$683.3M | -$384.3M |
| US government contract awards (12 months) | $824K | $31.4M |
| Next earnings | 9 Nov 2026 | 10 Nov 2026, after close |
Financials are from each company's latest 10-Q and 10-K filings. Where 12-month figures are not yet available (for example, after a recent listing), the latest quarter is shown and labelled.
Key differences
- Launch record: Electron has flown many more missions than Alpha, which gives Rocket Lab a longer track record with customers.
- Beyond launch: Rocket Lab's largest business is spacecraft and components. Firefly's is spacecraft too, led by its lunar landers flying under NASA's Commercial Lunar Payload Services programme.
- Next rockets: both are building medium-lift rockets (Neutron and Eclipse) to compete for larger satellites and constellations.
- Size: Rocket Lab is several times Firefly's market value, so Firefly's shares tend to move more on single contracts and missions.
Full company pages
Frequently asked questions
Is Firefly a competitor to Rocket Lab?
Yes. Alpha and Electron both carry small satellites, Neutron and Eclipse will compete for medium-lift launches, and both companies build spacecraft for government and commercial customers.
What is the difference between Rocket Lab and Firefly Aerospace stock?
Rocket Lab: Launch provider (Electron, with the larger Neutron in development) that also builds spacecraft and satellite components. Firefly Aerospace: Builds the Alpha launch vehicle, the Blue Ghost lunar lander and spacecraft for government and commercial missions.
Which is better, RKLB or FLY?
That depends on what you want to own and how much risk you can take. Orbit Alpha does not make recommendations; the table compares size, growth, cash and dilution so you can weigh them yourself.
Prices from Yahoo Finance; financials, insider trades and share counts from SEC EDGAR; contract awards from USAspending.gov. Figures as of 18 Oct 2026, refreshed whenever the site updates. Orbit Alpha is information, not investment advice.
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