SPACE EXPLORATION TECHNOLOGIES CORP.
Short public history: daily closes since the IPO are shown instead of the usual monthly series; annual EPS is in the statistics table. Prices: Yahoo Finance, retrieved 4 Oct 2026.
CAPITALIZATION: (6/30/26)
| ($ mill.) | (%) | |
|---|---|---|
| Long-Term Debt | 36,839 | 22.5 |
| Common Equity | 127,224 | 77.5 |
| Total | $164,063 | 100.0 |
Shs. ($0.001 par) – Cl. A 7,607 mill.; Cl. B 5,569 mill.
LTD incl. non-current finance leases; excl. $2,525M current portion. No redeemable preferred at 6/30/26 ($38.8B at 12/31/25).
INTERIM EARNINGS: (per sh.)
| Qu. | 3/31 | 6/30 | Q3 | Q4 |
|---|---|---|---|---|
| 2025 | -0.18 | -0.34 | ||
| 2026 | -1.27 | -0.09 |
Basic & diluted. Q1 from the 424B4, Q2 from 10-Qs (pre-IPO share counts before June 2026). Other quarters not published separately.
DIVIDENDS:
Nil. No dividends since listing.
BACKGROUND:
SpaceX is three businesses in one company: the world's leading launch provider, the Starlink satellite-broadband network, and, since its February 2026 merger with xAI, an AI business that builds and rents large computing clusters and runs the Grok models. Its Class A stock listed on Nasdaq on 6/12/26 after an IPO priced at $135. The SPCX symbol previously belonged to Tuttle Capital's SPAC and New Issue ETF (now SPCK); older SPCX price histories (around $20–25) refer to that ETF.
RECENT DEVELOPMENTS:
Revenue was $18.7 billion in 2025, when the net loss attributable to the company was $4.9 billion; the first half of 2026 lost a further $4.8 billion. Capital spending was $20.7 billion in 2025, and trailing free cash flow was −$32.5 billion. Shareholders' equity rose from $2.6 billion to $127.2 billion over the first half of 2026, a period that included the xAI merger and the IPO.
PROSPECTS:
Consensus expects revenue of $44.5 billion in 2026 and $112.8 billion in 2027 as new AI compute contracts start, with 2026 EPS of about −$0.05. Free float is about 5%, Elon Musk holds about 82% of the votes, and lock-up expiries lie ahead. With current-year EPS negative our forward-P/E method cannot produce a projection; in our view the price requires 2030 earnings several times today's consensus.
STATISTICS:
| YEAR | GROSS REVS. ($MILL.) | PROFIT MARGIN % | NET INCOME ($MILL.) | CAPITAL SPENDING ($MILL.) | ASSETS ($MILL.) | SHARES (MILL.) | BOOK VALUE PER SH.$ | EARN. PER SH.$ | DIV. PER SH.$ | DIV. PAY. % | PRICE RANGE | P/E RATIO | AVG. YIELD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23 | 10,387 | -44.6 | -4,628 | 4,415 | n/a | n/a | n/a | -1.68 | Nil | Nil | n/a | n/a | Nil |
| 24 | 14,015 | 0.1 | 18 | 11,163 | 57,062 | n/a | n/a | 0.00 | Nil | Nil | n/a | n/a | Nil |
| 25 | 18,674 | -26.4 | -4,937 | 20,737 | 92,079 | n/a | n/a | -1.69 | Nil | Nil | n/a | n/a | Nil |
From the 424B4 prospectus (audited 2023–2025). Net income attributable to SpaceX; EPS basic and diluted on pre-IPO share counts, not comparable with today's 13.2 billion shares. 2023 balance sheet and year-end shares not presented (n/a). No public price before 6/12/26, so price range, P/E and yield are n/a. Profit margin = net income ÷ revenues.
INCORPORATED:
Delaware, March 14, 2002; reincorporated in Texas, Feb. 14, 2024
PRINCIPAL OFFICE:
1 Rocket Road, Starbase, TX 78521
Tel.: (310) 363-6000
ANNUAL MEETING:
Not yet disclosed
NUMBER OF STOCKHOLDERS:
Not disclosed
TRANSFER AGENT:
Fidelity Stock Transfer Solutions LLC
REGISTRAR:
Fidelity Stock Transfer Solutions LLC
SUPERINVESTOR HOLDINGS (DATAROMA):
No. of superinvestors: 5
Shares held: 1,987,120 (13F at 6/30/26)
OFFICERS:
Sources: 424B4 prospectus (2023–25 figures, Q1 EPS, incorporation, transfer agent, officers) · 10-Q 6/30/26 (capitalization, shares) · SEC XBRL company facts · Yahoo Finance (prices since 6/12/26, consensus, retrieved 4 Oct 2026) · Dataroma (superinvestors) · Pathos note (ticker history, float, valuation detail). Ratios, book value, split adjustments and derived Q4 figures are Pathos calculations. The rating line and Prospects are Pathos opinion.
© 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice. Prepared 4 October 2026.