Space Exploration Technologies Corp. (SPCX) Key Metrics
SPCX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.92T
- Enterprise value
- $1.90T
- P/E (TTM)
- —
- Forward P/E
- 200.0
- PEG ratio
- —
- Price / sales
- 83.5
- Price / book
- 15.4
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- —
SPCX key metrics, 2024–2025
Fiscal year ended December 31, 2025 · U.S. dollarsSPCX returns How much profit the business earns on the capital it uses.
SPCX per-share figures Results divided by the shares outstanding at year-end.
SPCX financial health Debt, liquidity and how easily interest is covered.
SPCX efficiency & capital use Working capital cycle and where the cash goes.
SPCX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
SPCX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
SPCX cash returned to shareholders
SPCX key metrics
2024–2025| 2025 | 2024 | |
|---|---|---|
| Per share | ||
| Revenue per share | $9.56 | $7.65 |
| Earnings per share | −$2.53 | $0.43 |
| Operating cash flow per share | $3.47 | $3.15 |
| Free cash flow per share | −$7.14 | −$2.94 |
| Cash per share | $12.66 | $6.21 |
| Book value per share | $21.15 | $14.09 |
| Tangible book value per share | $14.31 | $5.85 |
| Capex per share | $10.61 | $6.09 |
| Debt per share | $11.72 | $7.33 |
| Shares outstanding | 1.95B | 1.83B |
| Change in shares outstanding | +6.7% | — |
| Returns & profitability | ||
| Return on equity (ROE) | −14.7% | 3.1% |
| Return on invested capital (ROIC) | −6.1% | 2.1% |
| Return on assets (ROA) | −6.6% | 1.4% |
| Return on tangible assets | −6.3% | 1.9% |
| Free cash flow margin | −74.7% | −38.4% |
| Income quality (OCF / net income) | — | 7.30 |
| Financial health | ||
| Total debt | $22.90B | $13.42B |
| Cash & short-term investments | $24.75B | $11.38B |
| Net debt | −$1.85B | $2.04B |
| Debt / equity | 0.55 | 0.52 |
| Debt / assets | 0.25 | 0.24 |
| Net debt / EBITDA | −0.43 | 0.36 |
| Current ratio | 1.45 | 1.37 |
| Quick ratio | 1.33 | 1.20 |
| Interest coverage | -1.3 | 0.5 |
| Working capital | $9.55B | $4.32B |
| Invested capital | $39.47B | $27.84B |
| Tangible asset value | $27.97B | $10.72B |
| Net current asset value | −$19.80B | −$15.15B |
| Graham number | — | $11.70 |
| Graham net-net per share | −$12.09 | −$9.87 |
| Capital allocation | ||
| Share buybacks (net) | $1.12B | $1.02B |
| Capex / revenue | 111.0% | 79.7% |
| Capex / operating cash flow | 305.6% | 193.3% |
| Capex / depreciation | 3.09 | 2.92 |
| Stock-based compensation / revenue | 10.4% | 5.6% |
| R&D / revenue | 46.3% | 24.7% |
| SG&A / revenue | 14.2% | 12.9% |
| Efficiency | ||
| Days sales outstanding | 25.7 | 27.4 |
| Days of inventory on hand | 85.3 | 91.4 |
| Days payables outstanding | 312.9 | 201.4 |
| Cash conversion cycle (days) | -201.9 | -82.6 |
| Receivables turnover | 14.20 | 13.32 |
| Payables turnover | 1.17 | 1.81 |
| Inventory turnover | 4.28 | 3.99 |
| Asset turnover | 0.25 | 0.25 |
| Average receivables | $1.32B | $1.05B |
| Average payables | $8.10B | $4.41B |
| Average inventory | $2.21B | $2.00B |
| Intangibles / total assets | 14.5% | 26.4% |
Computed from SPCX's annual financial statements (latest annual report filed June 3, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
SPCX valuation and financial ratios
SpaceX earned a return on equity of −14.7% and a return on invested capital of −6.1% in fiscal 2025. It ended the year with $22.9 billion of debt and $24.7 billion in cash and short-term investments, a net cash position of $1.9 billion. It returned $1.1 billion to shareholders: $0 in dividends and $1.1 billion in share buybacks.
See the SPCX income statement, the SPCX chart for price history, or the SPCX stock overview for the latest quote and news.
SPCX key metrics FAQ
What is SpaceX's return on equity?
SpaceX's return on equity (ROE) was −14.7% in fiscal 2025: net income of -$4.9 billion on average shareholders' equity of $33.6 billion.
What is SpaceX's ROIC?
SpaceX's return on invested capital was −6.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does SpaceX have?
SpaceX had total debt of $22.9 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.55 and more cash than debt.
Does SpaceX buy back its shares?
Yes. SpaceX spent $1.1 billion on net share repurchases in fiscal 2025 Shares outstanding changed +6.7% over the year, to 1.95B..
What is SpaceX's current ratio?
SpaceX's current ratio was 1.45 at the end of fiscal 2025: current assets were 1.45 times current liabilities.