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Rocket Lab USA, Inc. RKLB Accretion (amortization) of discounts and premiums on investments

Other financials

Income statement

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Revenue$200.3M+63.5%
Gross profit$76.5M+117%
Operating income-$56.0M+5.4%
Net income-$45.0M+25.7%
EPS (diluted)-$0.07+41.7%

Balance sheet

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Cash & equivalents$1.2B+293%
Total debt$101.8M-29.2%
Total equity$2.3B+425%
Total assets$2.8B+125%

Cash flow

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Operating cash flow-$50.3M+7.2%
CapEx$27.1M-5.6%
Free cash flow-$77.4M+6.6%

Valuation

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Market cap$50.42B+264%
Enterprise value$49.31B+260%
P/S74.2×+44.4×

Profitability

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Gross margin36.6%+9.3pp
Operating margin-33.2%-6.6pp
Net margin-26.9%-7.6pp
FCF margin-46.5%+13.5pp

Returns & leverage

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Return on equity-13.5%-5.6pp
Debt / equity0×-0.3×
Current ratio4.5×+2.4×

Questions, answered.

What does accretion (amortization) of discounts and premiums on investments mean?
This represents the non-cash adjustment for the accretion of discounts or the amortization of premiums on investment securities held by the company. It aligns the carrying value of investments with their market value or maturity value over time. This adjustment is necessary to reconcile net income with the actual cash flows generated by the investment portfolio.