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Rocket Lab Corp（RKLB）与Voyager Technologies, Inc.（VOYG）财务数据对比。点击上方公司名可切换其他公司
Rocket Lab Corp的季度营收约是Voyager Technologies, Inc.的4.5倍（$179.7M vs $39.6M）。Rocket Lab Corp净利率更高（-29.5% vs -41.1%，领先11.6%）。Voyager Technologies, Inc.自由现金流更多（$-53.8M vs $-114.2M）
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
RKLB vs VOYG — 直观对比
营收规模更大
RKLB
是对方的4.5倍
$39.6M
净利率更高
RKLB
高出11.6%
-41.1%
自由现金流更多
VOYG
多$60.4M
$-114.2M
损益表 — Q4 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $179.7M | $39.6M |
| 净利润 | $-52.9M | $-16.3M |
| 毛利率 | 38.0% | 15.4% |
| 营业利润率 | -28.4% | -60.7% |
| 净利率 | -29.5% | -41.1% |
| 营收同比 | 35.7% | — |
| 净利润同比 | -1.1% | — |
| 每股收益（稀释后） | $-0.09 | $-0.28 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收RKLBVOYG
| Q4 25 | $179.7M | — | ||
| Q3 25 | $155.1M | $39.6M | ||
| Q2 25 | $144.5M | $45.7M | ||
| Q1 25 | $122.6M | — | ||
| Q4 24 | $132.4M | — | ||
| Q3 24 | $104.8M | — | ||
| Q2 24 | $106.3M | — | ||
| Q1 24 | $92.8M | — |
净利润RKLBVOYG
| Q4 25 | $-52.9M | — | ||
| Q3 25 | $-18.3M | $-16.3M | ||
| Q2 25 | $-66.4M | $-31.4M | ||
| Q1 25 | $-60.6M | — | ||
| Q4 24 | $-52.3M | — | ||
| Q3 24 | $-51.9M | — | ||
| Q2 24 | $-41.6M | — | ||
| Q1 24 | $-44.3M | — |
毛利率RKLBVOYG
| Q4 25 | 38.0% | — | ||
| Q3 25 | 37.0% | 15.4% | ||
| Q2 25 | 32.1% | 18.0% | ||
| Q1 25 | 28.8% | — | ||
| Q4 24 | 27.8% | — | ||
| Q3 24 | 26.7% | — | ||
| Q2 24 | 25.6% | — | ||
| Q1 24 | 26.1% | — |
营业利润率RKLBVOYG
| Q4 25 | -28.4% | — | ||
| Q3 25 | -38.0% | -60.7% | ||
| Q2 25 | -41.3% | -52.8% | ||
| Q1 25 | -48.3% | — | ||
| Q4 24 | -38.9% | — | ||
| Q3 24 | -49.5% | — | ||
| Q2 24 | -40.7% | — | ||
| Q1 24 | -46.4% | — |
净利率RKLBVOYG
| Q4 25 | -29.5% | — | ||
| Q3 25 | -11.8% | -41.1% | ||
| Q2 25 | -46.0% | -68.7% | ||
| Q1 25 | -49.5% | — | ||
| Q4 24 | -39.5% | — | ||
| Q3 24 | -49.6% | — | ||
| Q2 24 | -39.2% | — | ||
| Q1 24 | -47.7% | — |
每股收益（稀释后）RKLBVOYG
| Q4 25 | $-0.09 | — | ||
| Q3 25 | $-0.03 | $-0.28 | ||
| Q2 25 | $-0.13 | $-1.23 | ||
| Q1 25 | $-0.12 | — | ||
| Q4 24 | $-0.11 | — | ||
| Q3 24 | $-0.10 | — | ||
| Q2 24 | $-0.08 | — | ||
| Q1 24 | $-0.09 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.0B | $413.3M |
| 总债务越低越好 | $152.4M | — |
| 股东权益账面价值 | $1.7B | $590.9M |
| 总资产 | $2.3B | $727.8M |
| 负债/权益比越低杠杆越低 | 0.09× | — |
8季度趋势，按日历期对齐
现金及短期投资RKLBVOYG
| Q4 25 | $1.0B | — | ||
| Q3 25 | $976.7M | $413.3M | ||
| Q2 25 | $688.1M | $468.9M | ||
| Q1 25 | $428.4M | — | ||
| Q4 24 | $419.0M | — | ||
| Q3 24 | $442.4M | — | ||
| Q2 24 | $496.8M | — | ||
| Q1 24 | $492.5M | — |
总债务RKLBVOYG
| Q4 25 | $152.4M | — | ||
| Q3 25 | $347.0M | — | ||
| Q2 25 | $346.5M | — | ||
| Q1 25 | $345.9M | — | ||
| Q4 24 | $345.4M | — | ||
| Q3 24 | $61.2M | — | ||
| Q2 24 | $64.2M | — | ||
| Q1 24 | $66.8M | — |
股东权益RKLBVOYG
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.3B | $590.9M | ||
| Q2 25 | $688.5M | $554.7M | ||
| Q1 25 | $431.3M | — | ||
| Q4 24 | $382.5M | — | ||
| Q3 24 | $419.8M | — | ||
| Q2 24 | $455.2M | — | ||
| Q1 24 | $478.9M | — |
总资产RKLBVOYG
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.2B | $727.8M | ||
| Q2 25 | $1.6B | $685.3M | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | — |
负债/权益比RKLBVOYG
| Q4 25 | 0.09× | — | ||
| Q3 25 | 0.27× | — | ||
| Q2 25 | 0.50× | — | ||
| Q1 25 | 0.80× | — | ||
| Q4 24 | 0.90× | — | ||
| Q3 24 | 0.15× | — | ||
| Q2 24 | 0.14× | — | ||
| Q1 24 | 0.14× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-64.5M | $-15.1M |
| 自由现金流经营现金流 - 资本支出 | $-114.2M | $-53.8M |
| 自由现金流率自由现金流/营收 | -63.6% | -135.8% |
| 资本支出强度资本支出/营收 | 27.6% | 97.8% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-321.8M | — |
8季度趋势，按日历期对齐
经营现金流RKLBVOYG
| Q4 25 | $-64.5M | — | ||
| Q3 25 | $-23.5M | $-15.1M | ||
| Q2 25 | $-23.2M | $-30.9M | ||
| Q1 25 | $-54.2M | — | ||
| Q4 24 | $-2.4M | — | ||
| Q3 24 | $-30.9M | — | ||
| Q2 24 | $-13.0M | — | ||
| Q1 24 | $-2.6M | — |
自由现金流RKLBVOYG
| Q4 25 | $-114.2M | — | ||
| Q3 25 | $-69.4M | $-53.8M | ||
| Q2 25 | $-55.3M | $-88.8M | ||
| Q1 25 | $-82.9M | — | ||
| Q4 24 | $-23.9M | — | ||
| Q3 24 | $-41.9M | — | ||
| Q2 24 | $-28.3M | — | ||
| Q1 24 | $-21.8M | — |
自由现金流率RKLBVOYG
| Q4 25 | -63.6% | — | ||
| Q3 25 | -44.8% | -135.8% | ||
| Q2 25 | -38.3% | -194.4% | ||
| Q1 25 | -67.6% | — | ||
| Q4 24 | -18.1% | — | ||
| Q3 24 | -40.0% | — | ||
| Q2 24 | -26.7% | — | ||
| Q1 24 | -23.5% | — |
资本支出强度RKLBVOYG
| Q4 25 | 27.6% | — | ||
| Q3 25 | 29.6% | 97.8% | ||
| Q2 25 | 22.2% | 126.7% | ||
| Q1 25 | 23.4% | — | ||
| Q4 24 | 16.3% | — | ||
| Q3 24 | 10.5% | — | ||
| Q2 24 | 14.4% | — | ||
| Q1 24 | 20.7% | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
VOYG
| US Government | $26.9M | 68% |
| Space Solutions | $11.7M | 30% |
| Other | $1.0M | 3% |
