Space Exploration Technologies Corp. (SPCX)

Growth Stock Valuation · Industrials · Aerospace & Defense

Valuation as at 2026-08-12

About Space Exploration Technologies Corp.

Space Exploration Technologies Corp. provides satellite-based broadband services in the United States, Ireland, Canada, and internationally. It operates through three operating segments: Space, Connectivity, and AI.

Source: Yahoo Finance company profile · factual description, not KashVector commentary

Space Exploration Technologies Corp. SPCX

Industrials · Aerospace & Defense

Price
$133.29
Market Cap
$1.76T
Free Cash Flow
$-14.12B
Revenue (TTM)
$23.04B
Revenue Growth
91.9%
Gross Margin
51.9%
Net Debt
$-60.30B
52-Week Range
$104.83–$225.64
Cash runway at current burn rate: 85 months

What does the current price assume?

At the current price, the market appears to be pricing in about 117.6% initial revenue growth, reaching positive free cash flow by year 9.

⚠ The market's implied path to profitability (year 9) is later than SPCX's cash runway at the current burn rate (~85 months) — reaching that path likely requires raising more capital or slowing the burn.

Space Exploration Technologies Corp.'s price & financial trends

Data as at 2026-08-12

Share price · last 2 years

$138.74 -19% vs 2026-06
S&P 500 $170.86$108.37$138.74 2026-062026-072026-08

Revenue Per year

$18.67B +80% vs FY23
$10.39B$14.02B$18.67BFY23FY24FY25

Free cash flow Per quarter

$-16.82B -393% vs Q1 '25
$-3.41B$-3.22B$-9.07B$-16.82BQ1 '25Q2 '25Q1 '26Q2 '26

Operating margin trajectory Per year

-11.1% -326% vs FY23
4.9%5.3%-11.1%FY23FY24FY25

Growth Score

Good Fit4 of 6 criteria passed
Rule of 40 (Growth % + FCF Margin % >= 40)30.6%
Revenue Growth > 20%91.9%
Gross Margin > 50%51.9%
Cash Runway > 24 Months85 mo
Operating Margin Trajectory Improving4.9% -> -11.1%
Dilution (Diluted Shares Growth) <= 10%/yr-9.0%

The two models, in detail

Each shown with what it says the company is worth today and what growth the current price already implies — not just a single point estimate.

Multi-Stage DCF

$67.37
-49.5% margin of safety
Deeply Overvalued

EV / Sales

$14.05
-89.5% margin of safety
Deeply Overvalued
Implied EV/Sales at the current price: 41.18x (vs. today's reported 149.87x)

These numbers come from running Space Exploration Technologies Corp.'s revenue and margin trajectory through the Multi-Stage DCF and EV/Sales formulas above — not from any view on the news, management, or SPCX's competitive position. What is a multi-stage DCF?

Want to test your own growth, margin, or discount-rate assumptions?Open the full interactive calculator, pre-filled with SPCX →

More S&P 500 stocks we've valued

Not financial advice. Multi-Stage DCF and EV/Sales valuations are highly sensitive to assumptions — small changes in growth rate, target margin, or discount rate produce large swings in output. This is a mechanical calculation, not a recommendation to buy, hold, or sell.

About this valuation

Computed on 2026-08-12 from Yahoo Finance data, using the same engine as the full Growth Stock Evaluator. Every figure above is a point-in-time snapshot of that date — change any assumption yourself in the interactive tool for a live one.

Frequently asked questions

Is Space Exploration Technologies Corp. (SPCX) undervalued?

The Multi-Stage DCF estimates intrinsic value at $67.37 vs a price of $133.29 on 2026-08-12. This is a mechanical output from a model with genuine assumptions built in (target margin, growth fade, reinvestment) — not advice.

What does "implied growth rate" mean?

It's the reverse question: instead of assuming a growth rate and computing a value, this holds every other assumption fixed and asks what initial revenue growth rate would make the model's value equal to today's actual price. It tells you what the market is already betting on, which you can then judge for plausibility yourself.