KiwiInvests widely followed Rocket Lab narrative points to a fair value of $98 per share versus the recent $67.73 close, framing a large valuation gap driven by long term space economy assumptions.

Read the complete narrative. Read the complete narrative.

Curious what kind of revenue mix, margin profile, and future profit multiple sit behind that $98 figure? The narrative leans hard on scale, reuse, and higher value space systems. The key assumptions are punchy and very specific. The only way to see how they fit together is to review the full story.

According to KiwiInvest, the valuation hinges on Rocket Lab building a much larger role across launch services and space systems within the broader space economy, with Neutron and Electron acting as the foundation for selling more satellite hardware and services. The narrative also places weight on the lack of many new high cadence competitors, Rocket Labs positioning as a neutral partner for non US customers, and the potential for the company to move from funding growth with shareholder capital to funding it with internally generated cash over time.

Those projections are paired with explicit long run assumptions for revenue scale, profit margins, and the kind of earnings multiple