Space Exploration Technologies Balance Sheet Health
Financial Health criteria checks 3/6
Space Exploration Technologies has a total shareholder equity of $41.6B and total debt of $29.1B, which brings its debt-to-equity ratio to 70%. Its total assets and total liabilities are $102.1B and $60.5B respectively.
Key information
70.01%
Debt to equity ratio
US$29.11b
Debt
| Interest coverage ratio | n/a |
| Cash | US$23.68b |
| Equity | US$41.58b |
| Total liabilities | US$60.51b |
| Total assets | US$102.09b |
Recent financial health updates
Recent updates
SpaceX: The IPO Hype Is Fading - Why Shares' True Value May Be Less Than Half Its Market Cap
Summary SpaceX is rated Sell with a $64/share price target, citing an unsustainable $1.95t valuation and excessive 327.72x EV/aEBITDA multiple. SPCX’s growth is driven by major AI data center hosting agreements and defense contracts, but long-term AI TAM assumptions are increasingly questioned. The recent $60b Cursor acquisition and Grok 4.5 launch position SPCX for enterprise AI, yet profitability faces headwinds from launch costs and rising debt. While orbital data center ambitions and vertical integration offer upside, intensifying competition and uncertain execution challenge SPCX’s premium valuation. Read the full article on Seeking Alpha
WHY YOU SHOULD NOT BUY THE SPACEX IPO
Originally posted on June 5th 2026 on the Woodworth Contrarian Fund News Page: https://www.woodworth.fund/news/why-you-should-not-buy-the-spacex-ipo Brought to you by The Millegans & The Woodworth Contrarian Fund Sisyphus of Wall Street & The Weight of Hype: Why chasing marquee allocations is a rigged game—and what contrarians do instead. Overview: Biggest IPO ever… for whom?
SpaceX: A Sober Look at Catalysts, Risks, and Long‑Term Value After the IPO
SpaceX’s IPO has generated huge excitement, but when you strip away the headlines and ecosystem hype, the fundamentals still look like a capital‑intensive industrial business with uncertain long‑term margins. Using a disciplined valuation approach — including a 30% discount rate to reflect the lack of current profitability — the fair value estimate comes out to US$0.87 per share in 2026.SpaceX (SPCX) Stock Could Be 49.5% Overvalued After IPO And AI Push
SpaceX stock reaction to index additions and AI push Space Exploration Technologies (SPCX) has moved rapidly from its record US$75b IPO into key benchmarks, with fresh inclusion in the NASDAQ Telecom Index spotlighting its mix of satellite connectivity, launch services, and AI infrastructure. For you as an investor, that index entry matters because it can pull in rule based buying from funds that track the benchmark. At the same time, the company’s US$60b Cursor acquisition and large AI...
The trap for retailers that can evaporate more than 80% of the value.
EQUITY RESEARCH NOTE: SPACEX (SPCX) – VALUE REALIGNMENT Rating: Underweight / Avoid Current Price: $160.95 | Target Price Range: $21.41 – $28.55 Core Metric: Multiple Contraction & Scarcity Premium Dissipation. Investment Thesis: Space Exploration Technologies Corp.
AI Infrastructure in Space? The market said yes like it’s already a reality
SpaceX didn’t just deliver the largest IPO in history by dollars raised. It also entered the public market at one of the richest valuations ever seen for a company of its size.Hitting Escape Velocity with a Single Point of Failure
SpaceX owns one of the most entrenched constraints in the economy: cheap mass-to-orbit. It converts that into a deeper one, orbital bandwidth, through Starlink.Making sense of 1.75 trillion IPO
SpaceX is expected to go public under the ticker SPCX. There has been a huge amount of attention leading up to the listing, which isn’t surprising.SpaceX? Only Fast in - Fast out!
This text was written one week before SpaceX’s IPO , which is scheduled to take place on June 12, 2026, at $135 per share. Facts About Profitability Although SpaceX’s revenue is growing steadily, the company as a whole is generating a net loss.Financial Position Analysis
Short Term Liabilities: SPCX's short term assets ($29.7B) exceed its short term liabilities ($24.4B).
Long Term Liabilities: SPCX's short term assets ($29.7B) do not cover its long term liabilities ($36.1B).
Debt to Equity History and Analysis
Debt Level: SPCX's net debt to equity ratio (13.1%) is considered satisfactory.
Reducing Debt: Insufficient data to determine if SPCX's debt to equity ratio has reduced over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: SPCX has sufficient cash runway for more than a year based on its current free cash flow.
Forecast Cash Runway: SPCX has less than a year of cash runway if free cash flow continues to reduce at historical rates of 85.5% each year
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/16 11:28 |
| End of Day Share Price | 2026/07/16 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Space Exploration Technologies Corp. is covered by 32 analysts. 21 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Andrew Charles Beale | Arete Research Services LLP |
| Douglas Harned | Bernstein |
| Ronald Epstein | BofA Global Research |