Space Exploration Technologies Corp.SPCX
NASDAQ • Industrials
$122.85
P/E
—
PEG
—
FCF Yield
0.0%
Rev Growth YoY
+15.4% YoY
Gross Margin
48.8%
Health Score
4/10
D/E Ratio
0.55
Confidence
LOW
Business Snapshot
Space Exploration Technologies Corp. operates in the aerospace and defense industry, focused on space exploration, satellite launch services, and related technologies. The company serves government and commercial customers in a capital-intensive market where it holds a dominant position as a pioneering private space enterprise. As a large-cap company with a $1.61 trillion market capitalisation, it generated $19.30 billion in trailing twelve-month revenue. A defining characteristic is its presence in the high-growth space economy, though the company is currently unprofitable with a net loss of $5.22 billion.
Financial Health
The company reports a gross margin of 48.8%, though no prior-year comparison is available to assess direction, while the net margin is deeply negative at -45.0%, indicating significant operating losses relative to revenue. The balance sheet appears manageable with a debt-to-equity ratio of 0.55x and a current ratio of 1.45x, suggesting adequate short-term liquidity and moderate leverage...
Risk Assessment
- VALUATION — Price/sales of 83.23x and price/book of 45.72x are extreme multiples that price in decades of future growth with no margin for error.
- EARNINGS QUALITY — The company has beaten earnings estimates in 0 of the last 4 quarters, indicating low forecast reliability and potential for continued negative surprises.
- PROFITABILITY — Net margin of -45.0% reflects deep operating losses, with $5.22 billion in TTM net income losses that show no sign of near-term reversal.
- TECHNICALS — Price at $122.85 is below both the 50-day and 200-day moving averages of $155.09, and a death cross is present, confirming a sustained downtrend.
- 52-WEEK POSITION — Current price of $122.85 is well below the midpoint of the 52-week range ($172.66) and represents a 45.6% decline from the high of $225.64.
- FCF / CASH BURN — Free cash flow of $59.77 million is minimal for a $1.61 trillion market cap, yielding 0.0%, and does not support the current valuation....
The company reports a gross margin of 48.8%, though no prior-year comparison is available to assess direction, while the net margin is deeply negative at -45.0%, indicating significant operating losses relative to revenue. The balance sheet appears manageable with a debt-to-equity ratio of 0.55x and a current ratio of 1.45x, suggesting adequate short-term liquidity and moderate leverage. Free cash flow is modest at $59.77 million, translating to a negligible FCF yield of 0.0%, meaning the company generates little excess cash relative to its market value. Overall, the financial health is strained by persistent net losses and weak cash generation, limiting internal reinvestment capacity and making the company dependent on external capital or future profitability improvements.
- VALUATION — Price/sales of 83.23x and price/book of 45.72x are extreme multiples that price in decades of future growth with no margin for error. - EARNINGS QUALITY — The company has beaten earnings estimates in 0 of the last 4 quarters, indicating low forecast reliability and potential for continued negative surprises. - PROFITABILITY — Net margin of -45.0% reflects deep operating losses, with $5.22 billion in TTM net income losses that show no sign of near-term reversal. - TECHNICALS — Price at $122.85 is below both the 50-day and 200-day moving averages of $155.09, and a death cross is present, confirming a sustained downtrend. - 52-WEEK POSITION — Current price of $122.85 is well below the midpoint of the 52-week range ($172.66) and represents a 45.6% decline from the high of $225.64. - FCF / CASH BURN — Free cash flow of $59.77 million is minimal for a $1.61 trillion market cap, yielding 0.0%, and does not support the current valuation.
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