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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. The Space segment designs, manufactures, and launches reusable rockets to provide access to space. It also provides launch services for the deployment of payloads to intended orbits for commercial and government customers utilizing Falcon 9 and Falcon Heavy; and engages in the launch and development for the development of spacecraft and the provision of launch and mission services for government agency space programs utilizing Falcon 9, Falcon Heavy, Starship, and Dragon. Its company's Connectivity segment operates broadband data and communications network by various Starlink satellites in low-earth orbit, delivering connectivity to various consumers, enterprise, and government customers. The company's AI segment operates a vertically integrated AI platform spanning a frontier LLM Grok; AI solutions for consumer and enterprise customers; X, a real-time information, entertainment, and free speech platform; and AI computational infrastructure. Space Exploration Technologies Corp. was incorporated in 2002 and is based in Starbase, Texas.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Space Exploration Technologies Corp. (SpaceX) builds reusable orbital launch vehicles and operates the Starlink satellite broadband constellation for commercial and government customers. Long-term growth may be driven by expanding satellite broadband demand, steady government and commercial launch contracts, and lower unit costs from reusability, which could appeal to investors seeking exposure to space infrastructure.
Key risks include technical and execution risk for Starship and Starlink deployments, heavy capital needs and potential dilution, regulatory and export-control constraints, strong competition, and limited public financial transparency.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Type | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Income before tax | -4219.00M | 242.00M | -4991.00M |
| Net income | -4937.00M | 791.00M | -4628.00M |
| Selling general administrative | 2644.00M | 1813.00M | 1665.00M |
| Gross profit | 9223.00M | 6019.00M | 4277.00M |
| Reconciled depreciation | 6701.00M | 3824.00M | 2635.00M |
| Ebit | -2412.00M | - | - |
| Ebitda | 4289.00M | - | - |
| Depreciation and amortization | 6701.00M | - | - |
| Operating income | -2589.00M | 742.00M | 507.00M |
| Other operating expenses | 21263.00M | - | - |
| Interest expense | 1945.00M | 1580.00M | 1693.00M |
| Tax provision | 718.00M | -549.00M | -363.00M |
| Interest income | 492.00M | 371.00M | 249.00M |
| Net interest income | -1453.00M | -1209.00M | -1444.00M |
| Income tax expense | 718.00M | - | - |
| Total revenue | 18674.00M | 14015.00M | 10387.00M |
| Total operating expenses | 11812.00M | 13273.00M | 9880.00M |
| Cost of revenue | 9451.00M | 7996.00M | 6110.00M |
| Total other income expense net | -1630.00M | 709.00M | -4054.00M |
| Net income from continuing ops | -4937.00M | 791.00M | -4628.00M |
| Breakdown | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Type | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 |
| Total assets | 92079.00M | 57062.00M |
| Intangible assets | 1548.00M | 3956.00M |
| Other current assets | 2210.00M | 371.00M |
| Total liab | 50754.00M | 31258.00M |
| Total stockholder equity | 41325.00M | 25804.00M |
| Other current liab | 2006.00M | 530.00M |
| Common stock | 4.00M | - |
| Capital stock | 38756.00M | 20944.00M |
| Retained earnings | -37035.00M | -32098.00M |
| Good will | 11809.00M | 11129.00M |
| Cash | 24747.00M | 11385.00M |
| Total current liabilities | 21400.00M | 11791.00M |
| Current deferred revenue | 6111.00M | - |
| Net debt | -1851.00M | 2408.00M |
| Short term debt | 928.00M | - |
| Short long term debt | 928.00M | 372.00M |
| Short long term debt total | 22896.00M | - |
| Other stockholder equity | 37706.00M | - |
| Total current assets | 30952.00M | 16108.00M |
| Short term investments | 800.00M | 800.00M |
| Net receivables | 1579.00M | 1052.00M |
| Long term debt | 21968.00M | 13421.00M |
| Inventory | 2416.00M | 2003.00M |
| Accounts payable | 11792.00M | 4413.00M |
| Accumulated other comprehensive income | 1898.00M | - |
| Non currrent assets other | 3767.00M | 2336.00M |
| Non current assets total | 61127.00M | 40950.00M |
| Capital lease obligations | 422.00M | 382.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Type | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Investments | 1394.00M | 363.00M | -471.00M |
| Total cashflows from investing activities | -19575.00M | - | - |
| Net borrowings | 8902.00M | -231.00M | -112.00M |
| Total cash from financing activities | 26350.00M | 11830.00M | 422.00M |
| Net income | -4937.00M | 791.00M | -4628.00M |
| Change in cash | 13623.00M | 6811.00M | 73.00M |
| Begin period cash flow | 11501.00M | 4690.00M | 4617.00M |
| End period cash flow | 25124.00M | 11501.00M | 4690.00M |
| Total cash from operating activities | 6785.00M | 5776.00M | 4520.00M |
| Issuance of capital stock | 18807.00M | 13101.00M | 774.00M |
| Depreciation | 6701.00M | 3824.00M | 2635.00M |
| Other cashflows from investing activities | -232.00M | - | - |
| Change to inventory | -413.00M | -309.00M | -72.00M |
| Change to account receivables | -543.00M | -347.00M | 345.00M |
| Sale purchase of stock | -1125.00M | -1021.00M | -170.00M |
| Other cashflows from financing activities | -562.00M | - | - |
| Capital expenditures | 20737.00M | 11163.00M | 4415.00M |
| Change in working capital | 2089.00M | 1673.00M | 2006.00M |
| Stock based compensation | 1947.00M | 784.00M | 679.00M |
| Other non cash items | 359.00M | 199.00M | 426.00M |
| Free cash flow | -13952.00M | -5387.00M | 105.00M |
Sector: Industrials Industry: Aerospace & Defense
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| SPCX Space Exploration Technologies Corp. Class A Common Stock |
-12.65 9.30% |
123.27 | - | 200.00 | 82.08 | 15.35 | 82.13 | 500.95 |
| GE GE Aerospace |
-16.22 4.92% |
313.23 | 37.45 | 35.09 | 6.29 | 18.68 | 6.70 | 27.10 |
| EADSF Airbus Group SE |
0.30 0.13% |
225.00 | 25.70 | 22.32 | 2.30 | 5.91 | 1.97 | 13.60 |
| BA The Boeing Company |
-6.66 3.76% |
170.34 | 88.37 | 153.85 | 1.93 | 31.61 | 2.21 | 26.81 |
| EADSY Airbus Group NV |
-0.30 0.53% |
55.80 | 26.90 | 24.39 | 2.26 | 5.35 | 1.79 | 12.83 |
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. The Space segment designs, manufactures, and launches reusable rockets to provide access to space. It also provides launch services for the deployment of payloads to intended orbits for commercial and government customers utilizing Falcon 9 and Falcon Heavy; and engages in the launch and development for the development of spacecraft and the provision of launch and mission services for government agency space programs utilizing Falcon 9, Falcon Heavy, Starship, and Dragon. Its company's Connectivity segment operates broadband data and communications network by various Starlink satellites in low-earth orbit, delivering connectivity to various consumers, enterprise, and government customers. The company's AI segment operates a vertically integrated AI platform spanning a frontier LLM Grok; AI solutions for consumer and enterprise customers; X, a real-time information, entertainment, and free speech platform; and AI computational infrastructure. Space Exploration Technologies Corp. was incorporated in 2002 and is based in Starbase, Texas.
| Name | Title | Year Born |
|---|---|---|
| Mr. Elon R. Musk | Founder & CEO | 1971 |
| Ms. Gwynne E. Shotwell | President & COO | 1964 |
| Mr. Bret W. Johnsen | CFO & Secretary | 1969 |
| Mr. Michael Sagan | Senior Director of Legal | NA |
| Mr. Timothy R. Hughes | Senior VP of Global Business & Government Affairs | NA |
| Mr. Richard J. Lee | Treasurer | NA |
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