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Redwire vs Rocket Lab: revenue, profit, margins and growth compared

Redwire brought in $335.4M of revenue in fiscal 2025, Rocket Lab $601.8M in fiscal 2025. Revenue changed by +10.3% at Redwire and +38.0% at Rocket Lab on the year before, so Rocket Lab grew faster. Redwire kept -67.6% of its revenue as net profit, Rocket Lab -32.9%. Free cash flow was -$190.8M at Redwire and -$321.8M at Rocket Lab.

Side by side, latest fiscal year

RDWRKLB
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$335.4M$601.8M
Revenue growth+10.3%+38.0%
Net income-$226.6M-$198.2M
Net margin-67.6%-32.9%
Free cash flow-$190.8M-$321.8M
Free cash flow margin-56.9%-53.5%
Earnings per share (diluted)-$2.28-$0.37
Cash$94.5M$828.7M
Debt$85.2M$152.4M
Price to earningsn/an/a
Market value$2.9B$44.3B
Dividend yieldn/an/a
Rank by revenue in sector#344 of 451 · Industrials#304 of 451 · Industrials

Over the years

Revenue
RDW FY2021: $137.6MRDW FY2022: $160.5MRDW FY2023: $243.8MRDW FY2024: $304.1MRDW FY2025: $335.4MRKLB FY2020: $35.2MRKLB FY2021: $62.2MRKLB FY2022: $211MRKLB FY2023: $244.6MRKLB FY2024: $436.2MRKLB FY2025: $601.8MFY20FY21FY22FY23FY24FY25
RDW $335.4MRKLB $601.8M
Net income
RDW FY2021: -$61.5MRDW FY2022: -$130.6MRDW FY2023: -$27.3MRDW FY2024: -$114.3MRDW FY2025: -$226.6MRKLB FY2020: -$55MRKLB FY2021: -$117.3MRKLB FY2022: -$135.9MRKLB FY2023: -$182.6MRKLB FY2024: -$190.2MRKLB FY2025: -$198.2MFY20FY21FY22FY23FY24FY25
RDW -$226.6MRKLB -$198.2M
Net margin
RDW FY2021: -44.7%RDW FY2022: -81.4%RDW FY2023: -11.2%RDW FY2024: -37.6%RDW FY2025: -67.6%RKLB FY2020: -156.4%RKLB FY2021: -188.5%RKLB FY2022: -64.4%RKLB FY2023: -74.6%RKLB FY2024: -43.6%RKLB FY2025: -32.9%FY20FY21FY22FY23FY24FY25
RDW -67.6%RKLB -32.9%
Revenue growth
RDW FY2022: +16.7%RDW FY2023: +51.9%RDW FY2024: +24.7%RDW FY2025: +10.3%RKLB FY2021: +77.0%RKLB FY2022: +239.0%RKLB FY2023: +15.9%RKLB FY2024: +78.3%RKLB FY2025: +38.0%FY21FY22FY23FY24FY25
RDW +10.3%RKLB +38.0%
Free cash flow
RDW FY2021: -$39.5MRDW FY2022: -$35.3MRDW FY2023: -$4.4MRDW FY2024: -$23.7MRDW FY2025: -$190.8MRKLB FY2020: -$52.9MRKLB FY2021: -$97.5MRKLB FY2022: -$149MRKLB FY2023: -$153.6MRKLB FY2024: -$116MRKLB FY2025: -$321.8MFY20FY21FY22FY23FY24FY25
RDW -$190.8MRKLB -$321.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about Redwire and Rocket Lab

Which is bigger by revenue, Redwire or Rocket Lab?

Rocket Lab is bigger by revenue: $601.8M in fiscal 2025, against $335.4M for Redwire in fiscal 2025.

Which keeps more of its revenue as profit, Redwire or Rocket Lab?

Redwire had a net margin of -67.6% in fiscal 2025; Rocket Lab had -32.9% in fiscal 2025.

Which grew revenue faster, Redwire or Rocket Lab?

In their latest fiscal years revenue changed by +10.3% at Redwire and +38.0% at Rocket Lab.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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