Space Exploration Technologies Corp. Class A Common Stock
NASDAQ: SPCX · INDUSTRIALS · AEROSPACE & DEFENSE
Updated 2026-06-12
Space Exploration Technologies Corp. Class A Common Stock (SPCX) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating cash flow | $4.52B | $5.78B | $6.79B |
| Capital expenditures | $4.42B | $11.16B | $20.74B |
| Depreciation | — | — | — |
| Stock-based comp | $679.00M | $784.00M | $1.95B |
| Free cash flow | $105.00M | $-5.39B | $-13.95B |
| Investing cash flow | — | — | — |
| Financing cash flow | — | — | — |
| Dividends paid | — | — | — |
| Share repurchases | — | — | — |
| Debt repayment | — | — | — |
| Net change in cash | — | — | — |
Frequently asked questions
What is Space Exploration Technologies Corp. Class A Common Stock's revenue?
Space Exploration Technologies Corp. Class A Common Stock's trailing twelve-month revenue is $19.30B, and consensus projects about $154.80B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is SPCX?
In its most recent fiscal year, SPCX ran a gross margin of 49.39%, an operating margin of -13.86%, and a net margin of -26.44%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does SPCX generate?
SPCX produced $-13.95B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is SPCX's balance sheet healthy?
SPCX holds $24.75B in cash and equivalents against $21.97B in long-term debt, on $41.33B of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.