Key Points
Space Exploration Technologies (NASDAQ: SPCX), commonly known as SpaceX, has surged since its IPO a few weeks ago. Shares opened at $150, up from the $135 offering price, and were trading near $155 on June 22. The stock has already gained more than 20% from its initial public offering price, prompting debate over its future momentum versus a recent cooling period.
Image source: The Motley Fool.
SpaceX has a lot of growing to do
SpaceX now ranks as the seventh‑largest company by market capitalization, trailing Amazon and Taiwan Semiconductor Manufacturing. While those firms are integral to global commerce, SpaceX’s scale is comparatively modest. For 2025, SpaceX reported revenue of $18.7 billion and adjusted EBITDA of $6.6 billion, far below the $717 billion revenue and $150 billion EBITDA of Amazon, or the $122 billion revenue and $84 billion EBITDA of Taiwan Semiconductor.
| Company | 2025 Revenue | 2025 EBITDA (adjusted) |
|---|---|---|
| Amazon | $717 billion | $150 billion |
| Taiwan Semi | $122 billion | $84 billion |
| SpaceX | $18.7 billion | $6.6 billion |
Data source: SEC filings.
These figures illustrate that SpaceX’s financial metrics are not yet comparable to the giants it now sits beside, raising concerns about its valuation.
Similar to Tesla, SpaceX’s appeal rests more on future growth prospects than current earnings. Its primary revenue stream now comes from the Starlink broadband service, while launch services remain secondary. If SpaceX can expand into broader space‑exploration ventures and generate additional economic value, the shares may justify their premium price. Investors must decide whether they are buying on long‑term potential or expecting near‑term performance.
Should you buy stock in Space Exploration Technologies right now?
Before making a purchase, consider that professional analysts have identified ten stocks they believe offer the strongest upside potential, and SpaceX was not among them. Historical examples such as Netflix and Nvidia demonstrate the impact of early selections, though past performance does not guarantee future results.
