SpaceX Nearly Doubled Its Revenue Again, and the Model Still Cannot Score the Stock

Space Exploration Technologies – better known as SpaceX – grew trailing-twelve-month revenue 91.9% to $23.0B, one of the strongest top-line prints on StreetBriefs’ watchlist. Even so, this Space Exploration Technologies stock analysis finds the scoring model unable to issue a Buy, Hold, or Sell signal, because the Quality pillar is missing the inputs it needs. One point to keep in mind throughout: SpaceX is privately held, and the price and market-value figures here appear to be drawn from private-market sources, so they warrant more caution than data on a normally listed stock.

SPCX is quoted around $147.95, and Yahoo Finance lists a market capitalization of roughly $1.95 trillion – an unusually large figure that is better treated as an estimate than a firm number.

What Is Happening With the Stock Price

At $147.95, the quote sits between a two-year low of $108.37 and a two-year high of $185.00, near the middle of that range – neither close to a high nor a low. That mid-range positioning, despite exceptionally strong revenue growth, suggests the market has already priced in much of SpaceX’s trajectory rather than reacting to it fresh. Because the shares do not trade on a public exchange in the usual way, that price signal is also less reliable than it would be for a listed company.

Quality: Is This a Financially Sound Business?

Quality is where the data runs thin: return on assets, return on equity, and free cash flow are all unavailable, which is the main reason the model cannot produce an overall Quality score. What is available is mixed. Gross margin is a solid 51.9% and operating margin is only mildly negative at -1.8%, close to operating breakeven. Net profit margin, though, is -35.7%, a much wider gap than the operating margin alone implies, pointing to sizable costs below the operating line. Liquidity looks strong, with a current ratio of 5.12 and a quick ratio of 4.95, alongside moderate leverage – debt-to-equity of 0.31.

Growth: Does This Company Have Real Upside?

Growth is the standout pillar at 77/100, and this Space Exploration Technologies stock analysis finds the top-line momentum genuine, if hard to benchmark. Trailing revenue grew 91.9% to $23.0B, a near-doubling that few companies of this size can match. The five-year revenue CAGR is not available to put that in longer-term context, and earnings growth cannot be measured given the net loss. Valuation multiples are extreme – EV/Revenue of 166.65 and EV/EBITDA of 651.21 – though both depend on the same private-market value inputs that should be read with caution.

Opportunity: Is Now a Good Time to Enter?

Opportunity scores just 7/100, the weakest of the three pillars. There is no P/E ratio because the company is lossmaking, and price-to-book of 15.32 is high. A revenue multiple above 160 leaves essentially no valuation cushion, and the mid-range price does not offset it. The model has enough to score Opportunity poorly, but not enough – given the Quality gaps – to turn that into an overall signal.

Space Exploration Technologies Stock Analysis: The Bottom Line

The model issues no Buy, Hold, or Sell signal for SpaceX, and the page carries an N/A badge, because the Quality pillar lacks adequate data. The bull case is the growth itself: revenue near $23.0B, up more than 90% year over year, with operating margin close to breakeven. The bear case is a -35.7% net margin, valuation multiples among the richest of any name we track, and the fact that this is not a conventional listed stock – so the underlying price and market-value data are harder to verify and more likely to move on limited information. The figures here are best read as directional, not precise. This analysis is based on Yahoo Finance data as of September 08, 2026, which may be delayed or contain errors, and is for informational purposes only, not financial advice; investors should do their own due diligence or consult a licensed advisor.