About Space Exploration Technologies
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.
Space Exploration Technologies (SPCX) is a Industrials company in the Aerospace & Defense industry with a market capitalisation of $2T.
- Sector
- Industrials
- Industry
- Aerospace & Defense
- Market cap
- $2T
- Forward P/E
- 96.73
- EPS (TTM)
- $-1.10
- Revenue (TTM)
- $23B
- Profit margin
- -35.7%
- Shares outstanding
- 7.7B
Financial health: Fair5.7/10
3 strengths, 2 concerns. Weakest points: net margin, free cash flow.
- Debt to equity: 0.56 (Watch, benchmark < 0.5) — Debt of 0.56x equity is moderate against the 0.5x benchmark. It has been broadly flat over the last 2 years.
- Net debt vs cash flow: 0.0y (Strong, benchmark < 4 years) — Holds more cash than debt ($1.4B net cash).
- Current ratio: 1.45 (Watch, benchmark > 1.5) — Short-term assets cover 1.45x short-term liabilities, against Graham's 1.5x floor. It has been broadly flat over the last 2 years.
- Gross margin: 51.9% (Strong, benchmark > 40%) — Keeps 51.9% of revenue after the direct cost of sales, comfortably past the > 40% mark.
- Net margin: -35.7% (Concern, benchmark > 10%) — Turns -35.7% of revenue into profit, well short of the > 10% mark.
- Free cash flow: -$14.1B (Concern, benchmark positive) — Burned $14.1B of cash after capital spending, so operations did not fund themselves. It has deteriorated over the last 3 years.
- Revenue growth: 91.9% (Strong, benchmark > 10%) — Revenue changed 91.9% year on year, comfortably past the > 10% mark.