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SpaceX IPO: What You Need To Know
2026-05-23 · via All Articles on Seeking Alpha

Summary

  • Space Exploration Technologies Corp. aka SpaceX plans an IPO targeting a $1.75 trillion valuation, likely the largest in history.
  • SPCX's Connectivity segment is profitable, but the company overall posts heavy losses and outsized cash burn, driven by AI and Space units.
  • At over 90x sales, SPCX’s IPO valuation appears excessive given current growth, profitability, and capital intensity.
  • I view SPCX as an engineering leader but will remain on the sidelines due to valuation and risk profile.
  • Looking for a helping hand in the market? Members of Cash Flow Club get exclusive ideas and guidance to navigate any climate. Learn More »
SpaceX Falcon Heavy Launch of Europa Clipper

Brandon Moser/iStock Editorial via Getty Images

Author's note: Data is from SpaceX's S-1 filing, which can be found here.

Article Thesis

Space Exploration Technologies Corp., aka SpaceX (SPCX), plans to go public this summer in what will likely

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of GOOG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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