Space Exploration Technologies Corp. (SPCX) Balance Sheet
SPCX balance sheet, 2025
December 31, 2025 · U.S. dollars$92.08B assets = $50.75B liabilities + $41.33B equity
Both columns are drawn to the same scale: what SPCX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SPCX financial health
Descriptive bands, not a rating. Fiscal 2025.
SPCX balance sheet trends, 2024–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $57.06B2024 | $92.08B2025 | +61.4%/yr | |
| Total liabilities | $31.26B2024 | $50.75B2025 | +62.4%/yr | |
| Shareholders’ equity | $25.80B2024 | $41.33B2025 | +60.1%/yr | |
| Cash & short-term investments | $12.19B2024 | $24.75B2025 | +103.1%/yr | |
| Total debt | $13.42B2024 | $22.90B2025 | +70.6%/yr | |
| Net cash (debt) | −$1.24B2024 | $1.85B2025 | +$3.1B | |
| Working capital | $4.32B2024 | $9.55B2025 | +$5.2B | |
| Book value per share | $14.092024 | $21.152025 | +50.2%/yr | |
| Current ratio | 1.372024 | 1.452025 | +0.08 | |
| Debt / equity | 0.522024 | 0.552025 | +0.03 | |
| Shares outstanding | 1.83B2024 | 1.95B2025 | +6.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SPCX assets
SPCX liabilities and equity
SPCX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SPCX balance sheet
| 2025 | 2024 | |
|---|---|---|
| Assets | ||
| Cash & short-term investments | $24.75B | $12.19B |
| Cash & equivalents | $24.75B | $11.38B |
| Short-term investments | $800.0M | $800.0M |
| Receivables | $1.58B | $1.05B |
| Inventory | $2.42B | $2.00B |
| Other current assets | $2.21B | $868.0M |
| Total current assets | $30.95B | $16.11B |
| Property, plant & equipment (net) | $43.86B | $22.83B |
| Goodwill & intangible assets | $13.36B | $15.09B |
| Long-term investments | $0 | $0 |
| Other non-current assets | $3.91B | $3.04B |
| Total assets | $92.08B | $57.06B |
| Liabilities | ||
| Accounts payable | $11.79B | $4.41B |
| Short-term debt | $928.0M | — |
| Deferred revenue | $6.11B | — |
| Total current liabilities | $21.40B | $11.79B |
| Long-term debt | $21.97B | $13.42B |
| Lease obligations | $422.0M | $382.0M |
| Other long-term liabilities | $7.39B | $6.05B |
| Total liabilities | $50.75B | $31.26B |
| Shareholders' equity | ||
| Common stock & paid-in capital | $4.0M | — |
| Retained earnings (deficit) | −$37.03B | −$32.10B |
| Accumulated other comprehensive income | $1.90B | — |
| Total shareholders' equity | $41.33B | $25.80B |
| Key figures | ||
| Total debt | $22.90B | $13.42B |
| Net cash (debt) | $1.85B | −$1.24B |
| Working capital | $9.55B | $4.32B |
| Tangible book value | $27.97B | $10.72B |
| Book value per share | $21.15 | $14.09 |
| Shares outstanding | 1.95B | 1.83B |
| Current ratio | 1.45 | 1.37 |
| Quick ratio | 1.23 | 1.12 |
| Debt / equity | 0.55 | 0.52 |
| Equity / assets | 44.9% | 45.2% |
| Jun '26 | Mar '26 | |
|---|---|---|
| Assets | ||
| Cash & short-term investments | $100.01B | $23.68B |
| Cash & equivalents | $93.52B | $15.85B |
| Short-term investments | $6.49B | $7.82B |
| Receivables | $3.60B | $1.83B |
| Inventory | $2.72B | $2.59B |
| Other current assets | $1.72B | $1.64B |
| Total current assets | $108.05B | $29.73B |
| Property, plant & equipment (net) | $66.85B | $55.06B |
| Goodwill & intangible assets | $12.94B | $13.11B |
| Long-term investments | $0 | $0 |
| Other non-current assets | $4.93B | $4.19B |
| Total assets | $192.77B | $102.09B |
| Liabilities | ||
| Accounts payable | $8.24B | $10.00B |
| Short-term debt | $2.52B | $1.54B |
| Deferred revenue | $7.98B | $7.21B |
| Total current liabilities | $21.12B | $24.44B |
| Long-term debt | $36.84B | $28.73B |
| Lease obligations | $344.0M | $338.0M |
| Other long-term liabilities | $7.58B | $7.35B |
| Total liabilities | $65.55B | $60.51B |
| Shareholders' equity | ||
| Common stock & paid-in capital | $13.0M | $6.0M |
| Retained earnings (deficit) | −$41.85B | −$41.31B |
| Accumulated other comprehensive income | $1.72B | $1.75B |
| Total shareholders' equity | $127.22B | $41.58B |
| Key figures | ||
| Total debt | $39.36B | $30.27B |
| Net cash (debt) | $60.65B | −$6.59B |
| Working capital | $86.92B | $5.30B |
| Tangible book value | $114.28B | $28.47B |
| Book value per share | $21.70 | $10.71 |
| Shares outstanding | 5.86B | 3.88B |
| Current ratio | 5.12 | 1.22 |
| Quick ratio | 4.91 | 1.04 |
| Debt / equity | 0.31 | 0.73 |
| Equity / assets | 66.0% | 40.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed June 3, 2026); data from EODHD.
SPCX financial position
At the end of fiscal 2025 (December 31, 2025), SpaceX had total assets of $92.1 billion (up 61.4% from a year earlier), total liabilities of $50.8 billion and shareholders' equity of $41.3 billion. It held $24.7 billion in cash and short-term investments against $22.9 billion of debt, a net cash position of $1.9 billion. Its current ratio was 1.45. In the latest quarter (ended June 30, 2026) total assets were $192.8 billion and equity $127.2 billion.
Related: SPCX income statement, SPCX cash flow statement, SPCX key metrics. See the SPCX stock overview for the latest quote and news.
SPCX balance sheet FAQ
What are SpaceX's total assets?
SpaceX reported total assets of $92.1 billion at the end of fiscal 2025 (December 31, 2025), compared with $57.1 billion a year earlier.
How much debt does SpaceX have?
SpaceX had $22.9 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.55.
How much cash does SpaceX have?
SpaceX held $24.7 billion in cash and short-term investments at the end of fiscal 2025; with $22.9 billion of debt that is net cash of $1.9 billion.
What is SpaceX's book value?
SpaceX's shareholders' equity (book value) was $41.3 billion at the end of fiscal 2025, or $21.15 per share.
What is SpaceX's current ratio?
SpaceX had current assets of $31.0 billion and current liabilities of $21.4 billion, a current ratio of 1.45 (it can cover its short-term obligations).
How much goodwill does SpaceX have?
SpaceX carried $13.4 billion of goodwill and intangible assets, 14.5% of total assets, at the end of fiscal 2025.