Rolls-Royce might have had an underwhelming 2026 at the stock markets so far, but make no mistake, it still has plenty going for it. The stock has underperformed as its key customer, the aviation sector, faces risks from rising fuel costs and softer travel demand in the current geopolitical environment. But the company itself is doing rather well, with a robust recent trading update, sustained outlook for 2026, and the expectation of revenues and profits from SMRs.