+First time on the top traders desk?
The desk runs its own numbers and publishes its calls next to the account that trades them. The short route:
Space Exploration Technologies Corp.
SPCX · NasdaqGS
trade.xyz perp price (HIP-3, Hyperliquid), not the security's own quote. Updated 2026-08-18 09:05:02 UTC.
Key figures
Profile
| Sector | Industrials |
| Country | United States |
| Employees | 21,000 |
Leadership
- Mr. Elon R. Musk — Founder & CEO
- Ms. Gwynne E. Shotwell — President & COO
- Mr. Bret W. Johnsen — CFO & Secretary
- Mr. Michael Sagan — Senior Director of Legal
- Mr. Timothy R. Hughes — Senior VP of Global Business & Government Affairs
Description
Space Exploration Technologies Corp. provides satellite-based broadband services in the United States, Ireland, Canada, and internationally. It operates through three operating segments: Space, Connectivity, and AI. The Space segment designs, manufactures, and launches reusable rockets to provide access to space. It also provides launch services for the deployment of payloads to intended orbits for commercial and government customers utilizing Falcon 9 and Falcon Heavy; and engages in the launch and development for the development of spacecraft and the provision of launch and mission services for government agency space programs utilizing Falcon 9, Falcon Heavy, Starship, and Dragon. Its company's Connectivity segment operates broadband data and communications network by various Starlink satellites in low-earth orbit, delivering connectivity to various consumers, enterprise, and government customers. The company's AI segment operates a vertically integrated AI platform spanning a frontier LLM Grok; AI solutions for consumer and enterprise customers; X, a real-time information, entertainment, and free speech platform; and AI computational infrastructure. Space Exploration Technologies Corp. was incorporated in 2002 and is based in Starbase, Texas.
Issuer profile: yahoo finance (yfinance). Board price: TradFi screener. Market cap, P/E and the 52-week range: stockanalysis.com, re-read daily.
Issuer financials
What the company reports, next to what the desk trades. Statements come from Yahoo Finance and are printed in the currency the issuer reports in.
Statements are in USD, the currency this issuer reports in. The perp price at the top of this page is a USDC quote on trade.xyz: the same unit, a different thing.
From revenue to profit
The income statement for the latest quarterly period, ending 2026-06-30. This is not a split by product or by region: the source publishes no segment or geography breakdown, and neither does this page.
| Period ending | Revenue | Cost of revenue | Gross profit | R&D | Selling and admin | Operating income | Net income |
|---|---|---|---|---|---|---|---|
| 2026-06-30 | $7.8B | $3.5B | $4.3B | $3.5B | $912.0M | −$141.0M | −$541.0M |
| 2026-03-31 | $4.7B | $2.4B | $2.3B | $3.5B | $746.0M | −$2.0B | −$4.3B |
| 2025-06-30 | $4.1B | $2.3B | $1.8B | $2.0B | $606.0M | −$775.0M | −$1.0B |
| 2025-03-31 | $4.1B | $2.0B | $2.1B | $1.6B | $493.0M | $55.0M | −$528.0M |
The income statement for the latest annual period, ending 2025-12-31. This is not a split by product or by region: the source publishes no segment or geography breakdown, and neither does this page.
| Period ending | Revenue | Cost of revenue | Gross profit | R&D | Selling and admin | Operating income | Net income |
|---|---|---|---|---|---|---|---|
| 2025-12-31 | $18.7B | $9.5B | $9.2B | $8.6B | $2.6B | −$2.1B | −$4.9B |
| 2024-12-31 | $14.0B | $8.0B | $6.0B | $3.5B | $1.8B | $742.0M | $791.0M |
| 2023-12-31 | $10.4B | $6.1B | $4.3B | $2.1B | $1.7B | $507.0M | −$4.6B |
Balance sheet
Assets, liabilities and equity at the end of each period. Click a name in the legend to drop that line.
| Period ending | Assets | Liabilities | Equity |
|---|---|---|---|
| 2026-06-30 | $192.8B | $65.5B | $127.2B |
| 2026-03-31 | $102.1B | $60.5B | $41.6B |
| Period ending | Assets | Liabilities | Equity |
|---|---|---|---|
| 2025-12-31 | $92.1B | $50.8B | $41.3B |
| 2024-12-31 | $57.1B | $31.3B | $25.8B |
Cash flow
Cash the business produced and where it went. Capital spending is negative because it leaves.
| Period ending | Operating | Free | Capital spending | Net change in cash |
|---|---|---|---|---|
| 2026-06-30 | $2.4B | −$16.8B | −$19.2B | $77.8B |
| 2026-03-31 | $1.0B | −$9.1B | −$10.1B | −$8.6B |
| 2025-06-30 | −$376.0M | −$3.2B | −$2.8B | $6.6B |
| 2025-03-31 | $727.0M | −$3.4B | −$4.1B | −$3.1B |
| Period ending | Operating | Free | Capital spending | Net change in cash |
|---|---|---|---|---|
| 2025-12-31 | $6.8B | −$14.1B | −$20.9B | $13.6B |
| 2024-12-31 | $5.8B | −$5.4B | −$11.2B | $6.8B |
| 2023-12-31 | $4.5B | $105.0M | −$4.4B | $75.0M |
Margins
Margin per period is computed here from two published lines: gross profit over revenue, operating income over revenue, net income over revenue. The source publishes only trailing twelve-month ratios, which are in the table below. A period with no revenue gets no point.
| Period ending | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2026-06-30 | 55.3% | −1.8% | −6.9% |
| 2026-03-31 | 49.1% | −41.6% | −91.1% |
| 2025-06-30 | 43.9% | −19.0% | −24.8% |
| 2025-03-31 | 51.8% | 1.4% | −13.0% |
| Period ending | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2025-12-31 | 49.4% | −11.1% | −26.4% |
| 2024-12-31 | 42.9% | 5.3% | 5.6% |
| 2023-12-31 | 41.2% | 4.9% | −44.6% |
Trailing ratios
Trailing twelve months, as the source states them. Not per period and not comparable with the chart above.
| Measure | Value |
|---|---|
| Gross margin | 51.88% |
| Operating margin | −1.80% |
| EBITDA margin | 25.59% |
| Net margin | −35.66% |
| Revenue growth | 91.90% |
| Debt to equity | 31.21% |
| Current ratio | 5.12 |
| Quick ratio | 4.95 |
| Cash | $100.0B |
| Debt | $39.7B |
| Revenue | $23.0B |
| EBITDA | $5.9B |
| Operating cash flow | $9.9B |
Analyst recommendations
Counts as the source publishes them, for the month shown. Ratings are the analysts' own, not the desk's, and the desk does not weight them.
Average score is the source's own scale: 1 is strong buy, 5 is strong sell.
| Month | Strong buy | Buy | Hold | Sell | Strong sell | Total |
|---|---|---|---|---|---|---|
| this month | 6 | 22 | 5 | 2 | 0 | 35 |
| 1 month ago | 6 | 21 | 6 | 2 | 0 | 35 |
| 2 months ago | 1 | 6 | 3 | 1 | 0 | 11 |
Analyst price targets
Where the analysts polled above see the price of the security going. Their numbers, not the desk's, and the desk neither weights them nor trades them.
| Measure | As published |
|---|---|
| Average | $235.69 |
| Median | $210.00 |
| Lowest | $62.00 |
| Highest | $800.00 |
Targets are in USD, the currency the security is quoted in. That is the source's own answer, not a guess from the ticker's country: the price the source prints beside the targets matches the quote, and that is what fixes their base. Targets and the perp price are both in dollars, so there is nothing to convert.
Next earnings
| Measure | Value |
|---|---|
| Date | 2026-11-03 |
| EPS estimate | $0.21 |
| EPS range | $0.16 … $0.32 |
| Revenue estimate | $13.1B |
The date is the source's estimate, not a date the company confirmed. Date read from yahoo finance (cli). The two transports disagree by a day on purpose: one answers in exchange-local time, the other in UTC, so the date and its flag always travel together from the same answer.
Statements read 2026-08-13. Source: yahoo finance (yfinance).