# Space Exploration Technologies Corp. (SPCX.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: Industrials / Aerospace & Defense. Price C$23.48, market value C$2.66 trillion.

## Valuation
- **P/E (trailing): 587.0×**. Space Exploration Technologies Corp. trades at 587.0× trailing earnings. The Industrials median in the September 2026 study was 25.7×.
- **Price / sales: 82.9×**. Each dollar of revenue is priced at 82.9×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 10.7×**. The shares trade at 10.7× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: -1.5%**. Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 0.2%**. The inverse of the P/E: 0.2% of the price is earned each year.

## Profitability
- **Gross margin: 56.7%**. Space Exploration Technologies Corp. keeps 56.7% of revenue after the direct cost of what it sells.
- **Operating margin: -2.0%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -26.4%**. The company reported a net loss over the last twelve months.
- **Return on equity: -11.9%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -1.4%**. Return on all capital, debt included, is -1.4%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -3.0%**. Each dollar of assets produces -3.0% of profit.

## Growth
- **Revenue growth (1 yr): 33.2%**. Revenue grew 33.2% over the last year.

## Financial health
- **Debt to equity: 0.56**. Debt is 0.56 times equity, moderate leverage.
- **Net debt / EBITDA: net cash**. Space Exploration Technologies Corp. holds more cash than debt.
- **Interest coverage: -0.3×**. Operating profit covers interest only -0.3×: fragile.
- **Current ratio: 1.45** (quick 1.33). Current assets cover the next year's liabilities 1.45 times.
- **Altman Z-score: 30.85**. A Z-score of 30.85 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Space Exploration Technologies Corp. does not currently pay a dividend.

## Price and momentum
- **From 52-week high: -38.2%** (33.6% above the low). Trading 38% below its 52-week high, deep in a drawdown.
- **RSI (14-day): 37**. An RSI of 37 is neutral.
- **Beta (1 yr): 2.32** (volatility 81%). Beta of 2.32 against the S&P/TSX Composite: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=SPCX.TO · Page: https://foliofundamentals.com/stocks/spcx.to

Not investment advice.