Added to YB: 2026-09-11
Pitch date: 2026-09-09
SPCX [neutral]
Space Exploration Technologies Corp.
+2.19%
current return
Author Info
Accrued Interest is an TMT Equity Research Specialist. They manage their family office and write about business and investing. Former tv/radio executive. During corporate years, achieved +3,400% TWR in PA from ’16-‘24. Sign up for the newsletter.
Company Info
Space Exploration Technologies Corp. provides satellite-based broadband services in the United States, Ireland, Canada, and internationally.
Market Cap
$2.0T
Pitch Price
$145.00
Price Target
N/A
Dividend
N/A
EV/EBITDA
282.77
P/E
-64.96
EV/Sales
84.29
Sector
Diversified Telecommunication Services
Category
growth
SpaceX Is a Telco That Launches Rockets
SPCX (overview): SpaceX’s current economics are driven by Starlink, a broadband business charging cable-like prices while growing revenue 66% year over year. Q2 connectivity generated $1.66B on $4.3B of revenue, versus combined quarterly losses of $1.80B in Space and AI; Starlink also added 1.7M subscribers. The key valuation question remains unresolved: whether stabilizing $66 ARPU and strong margins justify what investors are paying while funding rockets and AI.
Read full article (3 min)