SPCX Stock Analysis: Space Exploration | NASDAQ
Aerospace & Defense | NASDAQ, USA | Market Cap: 2.134.218m USD | 12M Return: -5.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 21.7B
Rev. Trend: 100.0%
Warnings
Tailwinds
No distinct edge detected
Seasonality 0 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Space Exploration Technologies Corp. operates as a diversified space and technology company with three primary business segments. Its Connectivity segment delivers satellite-based broadband services through the Starlink constellation of low-earth orbit satellites to consumer, enterprise, and government customers across the United States, Ireland, Canada, and other international markets. The Space segment designs, manufactures, and launches reusable rockets, including the Falcon 9, Falcon Heavy, Starship, and Dragon, offering launch services to commercial and government customers, including government agency space programs. The AI segment runs a vertically integrated platform featuring the Grok large language model, AI solutions for consumer and enterprise customers, the X real-time information platform, and AI computational infrastructure.
The company was founded in 2002 and is headquartered in Starbase, Texas. It is classified within the Industrials sector and the Aerospace & Defense industry, reflecting its core focus on launch services and spacecraft manufacturing. Reusable launch vehicles, a defining feature of its Space segment, represent a significant cost-reduction approach in the commercial launch services market, which has historically been dominated by expendable rocket systems. The low-earth orbit satellite broadband model pursued by the Connectivity segment also differentiates the company from traditional geostationary satellite internet providers by prioritizing lower latency.
- Starlink subscriber growth accelerates Connectivity segment revenue and margins
- Falcon 9 launch cadence and government contracts anchor Space segment backlog
- Starship test milestones unlock heavy-lift market and reduce launch costs
| Net Income: -4.94b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.14 > 0.02 and ΔFCF/TA -4.23 > 1.0 |
| NWC/Revenue: 28.36% < 20% (prev 30.80%; Δ -2.44% < -1%) |
| CFO/TA 0.07 > 3% & CFO 6.79b > Net Income -4.94b |
| Net Debt (6.93b) to EBITDA (4.29b): 1.62 < 3 |
| Current Ratio: 1.22 > 1.5 & < 3 |
| Outstanding Shares: last fiscal year (2.93b) vs prev -77.62% < -2% |
| Gross Margin: 49.39% > 18% (prev 42.95%; Δ 6.44% > 0.5%) |
| Asset Turnover: 23.47% > 50% (prev 24.56%; Δ -1.09% > 0%) |
| Interest Coverage Ratio: -1.24 > 6 (EBIT TTM -2.41b / Interest Expense TTM 1.95b) |
| A: 0.05 (Total Current Assets 29.7b - Total Current Liabilities 24.4b) / Total Assets 102b |
| B: -0.40 (Retained Earnings -41.3b / Total Assets 102b) |
| C: -0.03 (EBIT TTM -2.41b / Avg Total Assets 79.6b) |
| D: 0.69 (Book Value of Equity 41.6b / Total Liabilities 60.5b) |
| Altman-Z'' = -0.46 = B |
| DSRI: 1.31 (Receivables 1.83b/1.05b, Revenue 18.7b/14.0b) |
| GMI: 0.87 (GM 42.95% / 49.39%) |
| AQI: 0.53 (AQ_t 0.17 / AQ_t-1 0.32) |
| SGI: 1.33 (Revenue 18.7b / 14.0b) |
| TATA: -0.11 (NI -4.94b - CFO 6.79b) / TA 102b) |
| Beneish M = -2.94 (Cap -4..+1) = A |
As of July 10, 2026, the stock is trading at USD 152.16 with a total of 45,094,119 shares traded. Over the past week, the price has changed by -6.07%, over one month by -5.46%, over three months by -5.46% and over the past year by -5.46%.
Current recommended Stop Loss: 127.00 (which is 16.5% or 1.5 ATR below the current price).
Space Exploration has no consensus analysts rating.
P/S = 110.5755
P/B = 61.8023
Revenue TTM = 18.7b USD
EBIT TTM = -2.41b USD
EBITDA TTM = 4.29b USD
Long Term Debt = 28.7b USD (from longTermDebt, last quarter)
Short Term Debt = 1.54b USD (from shortTermDebt, last quarter)
Debt = 30.6b USD (from shortLongTermDebtTotal, last quarter) + Leases 338.0m
Net Debt = 6.93b USD (calculated: Debt 30.6b - CCE 23.7b)
Enterprise Value = 2141b USD (2134b + Debt 30.6b - CCE 23.7b)
Interest Coverage Ratio = -1.24 (Ebit TTM -2.41b / Interest Expense TTM 1.95b)
EV/FCF = -153.5x (Enterprise Value 2141b / FCF TTM -14.0b)
FCF Yield = -0.65% (FCF TTM -14.0b / Enterprise Value 2141b)
FCF Margin = -74.71% (FCF TTM -14.0b / Revenue TTM 18.7b)
Net Margin = -26.44% (Net Income TTM -4.94b / Revenue TTM 18.7b)
Gross Margin = 49.39% ((Revenue TTM 18.7b - Cost of Revenue TTM 9.45b) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 20.97 (Enterprise Value 2141b / Total Assets 102b)
Interest Expense / Debt = 6.36% (Interest Expense 1.95b / Debt 30.6b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -1.91b (EBIT -2.41b * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.22 (Total Current Assets 29.7b / Total Current Liabilities 24.4b)
Debt / Equity = 0.74 (Debt 30.6b / totalStockholderEquity, last quarter 41.6b)
Debt / EBITDA = 1.62 (Net Debt 6.93b / EBITDA 4.29b)
Debt / FCF = -0.50 (negative FCF - burning cash) (Net Debt 6.93b / FCF TTM -14.0b)
Total Stockholder Equity = 41.3b (last fiscal year from totalStockholderEquity)
RoA = -6.20% (Net Income -4.94b / Total Assets 102b)
RoE = -11.95% (Net Income TTM -4.94b / Total Stockholder Equity 41.3b)
RoCE = -3.44% (EBIT -2.41b / Capital Employed (Equity 41.3b + L.T.Debt 28.7b))
RoIC = -2.43% (negative operating profit) (NOPAT -1.91b / Invested Capital 78.3b)
WACC = 0.07% (E(2134b)/V(2165b) * Re(0.0%) + D(30.6b)/V(2165b) * Rd(6.36%) * (1-Tc(0.21)))
Discount Rate = 5.29% (= Risk Free + ERP)
[DCF] Fair Price = unknown (Cash Flow -14.0b)
Revenue Correlation: 99.99 | Revenue CAGR: 34.08% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.15 | Chg30d=N/A | Revisions=+0% | Analysts=5
EPS next Quarter (2026-09-30): EPS=-0.02 | Chg30d=N/A | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=-0.42 | Chg30d=N/A | Revisions=+0% | GrowthEPS=+0.0% | GrowthRev=+0.0%
EPS next Year (2027-12-31): EPS=0.20 | Chg30d=N/A | Revisions=+0% | GrowthEPS=+146.8% | GrowthRev=+85.7%
[Analyst] Revisions Ratio: +0% (up=0, down=0)