El camino de Rocket Lab hacia 2026: ¿puede el catalizador de la Neutron Rocket impulsar una suba de la acción del 40 % o más?

The space economy is entering a new era of commercialization and strategic competition, and Rocket Lab (RKLB) stands at the intersection of innovation and opportunity. With its Neutron rocket development advancing and a robust contract pipeline, the company is positioning itself to capitalize on the space economy projected by 2035. But can these strategic catalysts justify a 40%+ stock surge in 2026? Let's dissect the financial, operational, and market dynamics shaping Rocket Lab's trajectory.

Financial Performance: Growth Amidst Losses

Rocket Lab's third-quarter 2025 results underscored its resilience. Revenue surged 48% year-over-year to $155 million, driven by strong demand for its Electron rocket and satellite systems. The company also achieved a record gross margin of 37%, reflecting operational efficiency improvements. However, profitability remains elusive, with an estimated 2025 net loss of $190 million according to financial analysis. While unprofitability is a red flag, Rocket Lab's $1 billion cash reserves provide a buffer for Neutron development and strategic investments, mitigating immediate liquidity risks.

Neutron Rocket: A Strategic Game Changer

The Neutron rocket, a medium-lift vehicle designed to carry 13,000 kg to low Earth orbit, is Rocket Lab's crown jewel. Key 2025 milestones, such as the completion of the "Hungry Hippo" fairing tests and Canadian Space Agency funding for component development, have bolstered investor confidence. Analysts now project a 2026 maiden flight, albeit delayed from initial 2025 targets to prioritize quality. This delay, while frustrating, signals a commitment to reliability-a critical factor in securing high-value defense and commercial contracts.

Neutron's cost structure is another differentiator. At $50–$55 million per launch, it undercuts SpaceX's Falcon 9 by ~25%, positioning Rocket Lab to compete aggressively in the medium-lift segment. The rocket is already central to securing U.S. defense contracts like NSSL Phase 3 and EWAAC, which could unlock billions in revenue. These contracts not only diversify Rocket Lab's revenue base but also align with the U.S. government's push for domestic launch capabilities.

Competitive Positioning: Navigating the SpaceX Shadow

SpaceX dominates the launch market, but Rocket Lab's vertical integration strategy and niche focus on medium-lift payloads create a unique value proposition. By acquiring Geost and expanding into satellite manufacturing and on-orbit operations, Rocket Lab is building an end-to-end ecosystem that captures more value across the space value chain. This full-stack approach contrasts with SpaceX's broader, more commoditized offerings and could attract customers seeking tailored solutions.

Moreover, Rocket Lab's forward P/E ratio of 150–160x according to market analysis, while high, is a discount to projected SpaceX IPO valuations. This suggests the market is pricing in Neutron's potential to disrupt the status quo. Analysts have raised their price targets to $65.67 per share, reflecting optimism about Rocket Lab's ability to execute on its roadmap.

Space Economy Tailwinds: A $1.8 Trillion Opportunity

The space economy's projected growth to $1.8 trillion by 2035 provides a macro tailwind for Rocket Lab. Defense, satellite internet, and on-orbit services are key growth drivers, and Rocket Lab is strategically aligned with all three. Its $515 million contract with the U.S. Space Development Agency highlights its relevance in national security and commercial markets. The $1 billion contract backlog further underscores its position in both sectors. As governments and corporations accelerate space investments, Rocket Lab's Neutron rocket could become a critical infrastructure asset.

Risks and Realities

No investment thesis is complete without addressing risks. Rocket Lab's unprofitability, while temporary, raises questions about long-term sustainability. Delays in Neutron's launch schedule could also erode momentum. Additionally, SpaceX's relentless innovation and scale pose a persistent threat. However, Rocket Lab's agility, niche focus, and government partnerships provide a buffer against these challenges.

Conclusion: A 40%+ Surge Is Plausible-But Conditional

Rocket Lab's path to a 40%+ stock surge hinges on successful Neutron execution, contract wins, and broader space economy adoption. The company's financial strength, strategic positioning, and alignment with high-growth sectors make it a compelling long-term play. While risks remain, the combination of a discounted valuation relative to peers and a clear growth catalyst in Neutron justifies optimism. For investors willing to ride the rocket (pun intended), 2026 could be the year Rocket Lab soars.