NORTHROP GRUMMAN CORP /DE/ vs Rocket Lab Corp, two Aerospace & Defense stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Northrop Grumman is a defense prime firing on every cylinder: 26.74% return on equity, a 10.8% net margin, cash conversion at 4.64%, a 1.8% dividend, priced at 15.67 times earnings and 4.16 times book, a $71.2B cap. Rocket Lab, at $51.2B, is the youthful opposite, a small-launch and space-systems company losing money at a -26.87% net margin and burning a little cash, with almost no debt at 0.02. Northrop earns handsomely from decades of defense programs and pays holders along the way. Rocket Lab spends now against a space market it hopes to own later. Proven profit against unproven promise.
Comparison updated 2026-07-11.
| Metric | NOC | RKLB |
|---|---|---|
| Price | $539.53 | $81.08 |
| Market cap | $76.9B | $49.1B |
| Sector | Aerospace & Defense | Aerospace & Defense |
| Stage | Mature | Growth |
| Implied growth (priced in) | +2.9% | — |
| P/E | 16.9 | — |
| P/B | 4.49 | 21.68 |
| P/S | 1.81 | 72.23 |
| EV/EBITDA | 14.0 | — |
| Revenue growth | +4.9% | +45.8% |
| Gross margin | — | 38.2% |
| Operating margin | 10.0% | -27.9% |
| Net margin | 10.8% | -26.9% |
| Return on equity | 26.7% | -8.1% |
| Return on assets | 9.2% | -6.5% |
| Return on invested capital | 13.0% | -7.8% |
| FCF yield | 4.3% | -0.6% |
| Dividend yield | 1.7% | — |
| Debt / equity | 0.89 | 0.02 |
| Current ratio | 1.15 | 4.47 |
| Altman Z (solvency) | 2.84 | 6.25 |
| Piotroski F (quality) | 4 / 9 | 2 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.