Space Exploration Technologies Corp. (SPCX) AI Stock Analysis

Space Exploration Technologies Corp., known as SpaceX, designs, manufactures, and launches reusable rockets and spacecraft. Its Space segment delivers launch services for commercial and government customers using Falcon 9 and Falcon Heavy rockets, while developing the Starship launch system and Dragon spacecraft for crewed and cargo missions. The Connectivity segment operates Starlink, a low Earth orbit satellite broadband network providing internet connectivity globally. Additionally, the company operates computing infrastructure, products for consumers and enterprises, and the X social platform. Founded in 2002 in Starbase, Texas, its shares trade under ticker SPCX.

Annual revenue expanded from $10.39B in FY2023 to $14.02B in FY2024, representing growth of 34.9%, before reaching $18.67B in FY2025 with 33.2% growth. Across these periods, the two-year revenue compound annual growth rate stood at 34.1%. Gross margin expanded from 41.2% in FY2023 to 42.9% in FY2024 and 49.4% in FY2025. Operating margin shifted from 4.9% in FY2023 to 5.3% in FY2024, but declined to -13.9% in FY2025 as research and development expenses rose to $8.64B. Net income moved from -$4.63B in FY2023 to $791.0M in FY2024, followed by -$4.94B in FY2025. For the trailing twelve months ended June 30, 2026, revenue totaled $23.04B with quarterly revenue growth of 91.9%.

As of June 30, 2026, cash and short-term investments stood at $100.01B against total debt of $39.36B, resulting in net cash of $60.65B. Liquidity remains supported by a current ratio of 5.12, with a debt-to-equity ratio of 0.31 on shareholders' equity of $127.22B. Operating cash flow generated $6.79B in FY2025, but capital expenditures of $20.74B drove free cash flow to -$13.95B. The company also deployed $1.12B toward share buybacks in FY2025.

The stock trades at a market cap of $1.92T and an enterprise value of $1.90T. Multiples sit well above industry medians, with a forward P/E of 200.0x compared to the median of its Nasdaq-100 Industrials peers of 22.2x. Its price-to-sales of 83.5x and EV-to-EBITDA of 501.7x also trade at premiums to the peer medians of 6.1x and 19.9x, respectively. As of October 16, 2026, the stock closed at $146.03, between its 52-week low of $104.83 and 52-week high of $225.64, while the S&P 500 (SPY) returned 16.8% over the past year.

Wall Street coverage consists of 22 Strong Buy, 8 Buy, 5 Hold, 0 Sell, and 3 Strong Sell recommendations. The mean price target is $222.71, indicating potential upside of 52.5% compared to the October 16, 2026 closing price of $146.03. For the fiscal year ending December 31, 2026, consensus estimates project EPS of $0.10 on revenue of $45.34B. For the following fiscal year, 23 analysts expect EPS of $2.12 on revenue of $117.08B. The company is scheduled to report its next earnings on November 3, 2026.

This page is an AI-written research summary of Space Exploration Technologies Corp. (SPCX). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: SPCX income statement, SPCX balance sheet, SPCX key metrics, SPCX analyst forecast, SPCX chart. See the SPCX stock overview for the latest quote and news.