iTechGuides is reader-supported. When you buy through links on our site, we may earn an affiliate commission. As an Amazon Associate I earn from qualifying purchases. Learn more
SpaceX is now a public company: its Class A shares trade on Nasdaq under SPCX. The June 2026 IPO price was $135 per share, but that was the offering price—not a current quote. The useful comparison is therefore not “SpaceX versus one aerospace stock.” It is SpaceX’s launch, connectivity and AI-related businesses versus carefully selected public companies whose revenue, contracts, capital needs and profit profiles may be very different.
SpaceX’s June 2026 disclosures show why the comparison requires more than a ticker and a price: a $4.937 billion net loss for 2025, a $4.276 billion unaudited net loss for the first quarter of 2026, and $47.461 billion of backlog as of June 30, 2026. Backlog represents enforceable customer obligations with work still to be performed; it is not cash collected, recognized revenue or guaranteed profit.
Is SpaceX stock publicly traded?
Yes. SpaceX’s registration statement for its Class A common stock became effective on June 11, 2026, according to the company’s official release. A later issuer notice identifies the listing as Nasdaq: SPCX. The IPO price was $135 per Class A share in June 2026. That figure is a historical offering price and should not be used as the current market price or valuation.
Before comparing SPCX with another stock, obtain the latest quote, shares outstanding, diluted share count, market capitalization, debt, cash and filed financial statements. Those figures change after the IPO through trading, new issuance, employee equity, buybacks, debt offerings and operating results. A comparison based only on the $135 offer price can be wrong even if the arithmetic is correct.
#1 Best Overall
- Powerful Turbo Fan:CAGIWIRU Electric Air Duster have reached speed up to 130000RPM,Can efficient remove dust and debris.With LED light and Three Adjustable Speed to meet with different cleaning tasks.
- With Attached USB C Fasting Charging cable.Charing 3 hours,Enjoy up to 240 minutes of use on the lowest setting, For third speed can use for 25mins.with four charging options to meet with your needs.
- Wide Application:Upgraded attached 5 different nozzles,making it suitable for a variety of scenes, such as car,pet, pc, keyboards, and other electronic devices. It also serves for office and home clean duster.
- Handy Design & Portable:Cordless air duster electric nozzle is Light weight and small size, design and comfortable to hold and space saving, convenient to carry around. You can put it in your room or inside the car without taking up space.
- Warranty & Support: Our Electric air duster comes with 5 years warranty and 24/7 customer service. During this period, if you have any questions,pls kindly feel free to contact us.
The company’s Investor Relations site and subsequent filings are the appropriate places to confirm the latest ticker, share classes, results, backlog disclosure and financing activity. The figures below are tied to the periods in which SpaceX reported them, not presented as live market data.
What SpaceX’s filings establish before you compare it
| Item | Reported figure or disclosure | How an investor should use it |
|---|---|---|
| Listing | Nasdaq: SPCX; registration statement effective June 11, 2026 | Confirms that SpaceX is publicly traded. Verify the latest quote and filing before making a valuation calculation. |
| IPO price | $135 per Class A share in June 2026 | Historical offer price only; it is not a current quote. |
| Net loss | $4.937 billion for SpaceX in 2025 | Use the stated accounting period and measure. Revenue scale alone does not demonstrate profitability. |
| Net loss | $4.276 billion for SpaceX in the first quarter of 2026, unaudited | Do not annualize this single quarter without making the assumptions explicit. |
| Backlog | $47.461 billion as of June 30, 2026 | Read the definition, timing and customer mix before comparing it with a peer’s backlog total. |
| Expected backlog recognition | Approximately 56% within one year, 34% in one to three years and 10% thereafter | A timing indication for the reported backlog, not a promise of revenue, cash flow or margin. |
| Customer concentration | Two customers accounted for more than 10% of consolidated revenue for the period discussed in the June 2026 filing | Concentration can make results more sensitive to one customer’s budget, schedule or contract decision. The cited passage anonymizes the customers. |
| Revenue timing | Most customer-payload revenue and related costs are recognized at launch or deployment | Weather, customer readiness and operations can move revenue and costs between quarters. |
| Funding outlook | Management warns that profitability may not be sustained and expects additional operating expense and capital expenditure for growth; a senior unsecured notes offering was announced in June 2026 | Compare the investment program and financing requirements, not just sales or backlog. |
These disclosures describe a growth company carrying substantial investment and execution risk. They do not by themselves establish whether SPCX is cheap or expensive.
Why a traditional aerospace stock is not automatically a fair SpaceX peer
“Aerospace” covers businesses with very different economics. An aircraft manufacturer, an engine supplier, a defense contractor, a launch provider and a satellite-connectivity operator can all appear in the same sector screen while having different contract structures, margins, capital intensity and regulatory exposure.
Quick wins for a faster PC:
Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Space and launch operations
Launch services and space systems can depend on vehicle development, launch cadence, reliability, range access, insurance, government approvals and deployment schedules. A company whose revenue is recognized when a payload launches may show a lumpy quarterly pattern even when its longer-term demand is healthy. Compare launch backlog, cadence, mission success and development spending with peers that actually report comparable activities.
Connectivity and network services
Connectivity adds a service and infrastructure dimension: satellites or other network assets, ground equipment, spectrum and regulatory permissions, subscriber acquisition, network capacity and recurring service revenue. A defense prime with predominantly cost-plus or fixed-price government programs is not economically interchangeable with a connectivity business that must build and operate a network.
AI-related activity
SpaceX’s filing identifies AI-related activity as a segment and says one customer contributing more than 10% of revenue relates to that segment. Do not infer the customer’s identity from the anonymized disclosure. Separate this activity from launch and connectivity when evaluating growth, customers, margins and capital requirements.
Traditional aerospace and defense categories
A practical watchlist can include diversified defense primes such as Lockheed Martin, Northrop Grumman, General Dynamics and L3Harris; commercial aircraft and engine businesses such as Boeing, RTX and GE Aerospace; and space-focused companies such as Rocket Lab. These are illustrative categories, not a ranking or recommendation. Their geographic exposure, accounting, government-contract mix and business portfolios must be checked in each company’s latest filing.
Rank #2
- Screen Cleaner is Your Screen’s New Bestfriend! - EVEO is proud to present a screen cleaner that’s perfectly suited for your TV. Meet your new screen cleaner, computer screen cleaner, laptop cleaner, iPad cleaner, Macbook,tv cleaner or any other electronic device. Our screen cleaner spray and wipe along with the included plush microfiber cloth, easily removes dust, fingerprints & other smudges on the screen’s surface. Clean effectively for a streak-free screen
- Gentle on your Screens - Our screen cleaner spray and wipes is compatible to be used even for the most sensitive LCD, LED, CRT, and OLED screens in proper use. Be at ease knowing that this product is compatible with all the major brands: LG, SONY, Samsung, Sharp, iPad, iPhone, Android screens, Kindle, PC monitors - we’ve got you covered! Can be used as LCD screen cleaner, tv cleaner, smart tv screen cleaner, and more
- Premium Super Soft Plush Microfiber Cloth - Included in this efficient screen cleaning kit. This screen cleaner spray and wipe has our signature plush microfiber cloth specially designed to comply with screens and monitors and leave them streak-free. Has been shown to effectively absorbs stubborn stains, zero streaks, and no fiber shedding. Always use this together with our screen cleaner for the best results
- Easy-to-Use Screen Cleaner Kit + microfiber cleaning cloth - The EVEO Screen Cleaning Kit will easily be your new favorite tool when it comes to taking care of the things you love most, quick and easy solution for a streak-free screen. Simply screw on the sprayer gun on the screen cleaner bottle. Spray the cleaning liquid onto the microfiber cloth, then wipe the screen until desired cleanliness & shine is achieved.
- Quality Screen Care Kit Worth Purchasing - Enjoy a convenient Screen Cleaner anytime, anywhere you need it. Your satisfaction is our top priority. We stand behind the quality of our products and that’s why, you shouldn’t be worrying at all. We manufacture the Best Screen Cleaner. and can be used for laptop cleaning kit, laptop screen cleaner, tv screen cleaner for smart tv. MacBook screen cleaner, monitor cleaner or screen cleaner spray for electronic devices with microfiber cleaning cloth
The comparison axes that matter most
1. Business mix and end markets
Start with a segment bridge rather than a sector label. Record each company’s revenue and operating profit by launch or space systems, connectivity or network services, AI-related activity, commercial customers and government customers wherever the filing provides that detail.
- Ask whether the business sells a launch, a manufactured system, a long-term service or a government program.
- Separate recurring service revenue from one-time hardware or mission revenue.
- Identify which businesses are regulated, export-controlled or dependent on government appropriations.
- Flag segments that are too small or newly disclosed to support a reliable trend.
The comparison breaks down when one company is valued as a single industrial business even though it combines several distinct businesses with different growth and margin prospects.
2. Growth, profitability and cash generation
Put revenue growth next to operating income, net income, operating cash flow, free cash flow and the capital expenditure required to produce that growth. SpaceX reported a $4.937 billion net loss in 2025 and a $4.276 billion unaudited net loss in the first quarter of 2026. Those losses make a price-to-earnings comparison inappropriate until earnings are positive and representative.
For a loss-making growth company, examine the direction and quality of gross margin, operating expenses, cash burn and financing. For a mature defense or aerospace company, examine whether earnings and cash flow are supported by contracts, deliveries and working-capital patterns. Never treat a larger revenue figure as proof of superior economics.
Recommended Free Tools
3. Backlog quality and conversion
Backlog is only comparable when the definitions are comparable. SpaceX defines it as the transaction price for enforceable customer performance obligations for which work remains. Its June 30, 2026 backlog was $47.461 billion, with approximately 56% expected to be recognized within one year, 34% in one to three years and 10% thereafter.
For every peer, record:
- Whether backlog includes funded orders only, options, indefinite-delivery vehicles, framework agreements or probable renewals.
- Cancellation rights, termination provisions and customer contingencies.
- Expected conversion by year and the company’s historical conversion rate.
- Gross-margin expectations and the cost still required to perform the work.
- Customer, program and geographic concentration.
A backlog total without its definition can create a false ranking. SpaceX’s reported backlog is contracted work, not revenue already earned and not guaranteed profit.
4. Capital needs and financing
Compare capital expenditure, research and development, inventory investment, launch infrastructure, network deployment and cash on hand. SpaceX says it expects additional operating expense and capital expenditure as it invests in growth and warns that it may not sustain profitability. The June 2026 senior unsecured notes offering is a reminder to examine debt financing alongside equity financing.
Rank #3
- 【Large size】：Measuring 800 x 300 mm/ 31. 5×12 inches, which is wider and taller than others. Large mouse pad can perfectly fit your keyboard and mouse of any size, and there is also ample space for peripherals such as phones, tablets, etc.
- 【LED backlight mouse pad】：Blade Hawks RGB mouse pad provides 7 static modes and 7 dynamic modes will give you the options you are looking for. Power-off memory function remembers the last lighting mode you selected. The super glow fiber Chroma will give you a colorful gaming setup that you want.
- 【Anti-slip rubber base】：Made from Natural rubber, this gaming mousepad will firmly grip your desktop, allowing you to enjoy the ultimate precision in the games you are most passionate about. It also comes with a texture that enhances this ability even further.
- 【Smooth and waterproof surface】: Micro-textured cloth surface, for extremely precise mouse control and a smooth movement. When liquid splashes on the gaming mouse pad, it forms water droplets and slides down. Will not delay your work or gameplay.
- 【Plug and play】: This mouse and keyboard pad is powered by USB, plug and play, no driver required. One button control light modes. Press one time to change the lighting mode, press twice to change the brightness, press and hold about 3 seconds turn ON/OFF.
For each company, calculate how many years of planned investment can be funded from operating cash flow and existing liquidity under a reasonable downside case. Then review maturities, interest expense, covenants, refinancing exposure and the possibility of further share issuance. A high-growth plan can create value, but it can also require repeated financing before the plan produces cash.
Windows Errors? Fix Them Before They Spread
Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstallOutdated Drivers Are Slowing You Down
One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware match5. Customer and contract concentration
SpaceX’s June 2026 filing reports two customers representing more than 10% of consolidated revenue for the period discussed. One customer relates to all three segments, while another relates to the AI segment; the cited note anonymizes them. That concentration affects the durability of revenue and the impact of a delayed launch, budget change, contract modification or customer loss.
Use the same test for every peer: identify customers above the company’s disclosure threshold, the programs they use, contract type, renewal or termination terms and the share of backlog tied to them. Government exposure can be durable, but it is not immune to appropriations, procurement changes or schedule delays.
6. Execution and timing risk
Evaluate launch reliability, development milestones, manufacturing throughput, deployment schedules, regulatory approvals and supply-chain dependencies. SpaceX says customer readiness, weather and operations can shift launch timing. Because most customer-payload revenue and related costs are recognized at launch or deployment, a delayed mission can move both revenue and costs from one quarter to another.
This means a quarter with fewer launches is not automatically evidence of deteriorating demand, and a quarter with many launches is not automatically evidence of a permanently higher run rate. Read the operational explanation beside the financial statement.
7. Governance, share classes and dilution
Read the prospectus for voting rights, conversion features, director-election provisions, related-party arrangements and any class-specific rights. Compare basic shares with diluted shares, including options, restricted awards, convertible securities and any shares reserved for future issuance.
Use fully diluted market capitalization when comparing valuation. If the latest filing does not provide a directly comparable share count, label the result as incomplete rather than substituting the IPO share count or a stale estimate.
Rank #4
- 【Softer and More Comfortable】Vaydeer wrist rest has unique diamond pattern, which is the combination of softness and aesthetics. The materials of wrist rest are improved into higher quality memory foam and covered with silky smooth lycra. The computer wrist rest makes you as comfortable and cushiony as like rest your wrists on clouds.
- 【Ergonomic Wrist Saver】The wrist rests for keyboard and mouse comes with a 17.32×3.15×0.83 inch keyboard wrist pad and a 5.94×3.15×0.83 inch mouse wrist support. Based on ergonomic design, the unique concave shape is the perfect fit for your wrist joints. The wrist rest pad fits most computer keyboards and laptops, improve hand and wrist posture, release your wrist and arm stress.
- 【Non-Slip Rubber Bottom】Featuring an anti-skid silicone base on the bottom, this wrist keyboard support stays firmly in place on your desk, preventing the padding from sliding around, ensuring stable and consistent wrist support during extended computer sessions.
- 【Better Experience & Pain Relief】Our keyboard arm rest is beneficial to alleviate the soreness caused by direct contact and friction between your arm and a hard desk surface, reducing the risk of wrist fatigue or carpal tunnel. The soft texture of memory foam can evenly distribute the pressure around your wrists and provide good support with just enough give.
- 【Helpful in Multiple Scenarios】Whether you're working, studying, writing, typing, gaming, this keyboard and mouse rest combo is an essential accessory to add comfort and support to your hands and wrists. It’s also a great gift for men, women, family, friend, coworker, gamer, teacher, etc.
A practical peer-comparison table
| Question | SpaceX evidence to collect | Peer evidence to collect | Why the comparison can fail |
|---|---|---|---|
| What is being sold? | Launch, connectivity and AI-related segments; customer and government exposure | Aircraft, engines, defense systems, services, launch or network segments | Sector labels hide different products and revenue models. |
| How is revenue recognized? | Most customer-payload revenue at launch or deployment | Delivery, percentage-of-completion, milestone or service-recognition rules | Quarterly revenue timing may not be comparable. |
| How profitable is growth? | 2025 and first-quarter 2026 net losses disclosed above | Operating margin, net margin, cash flow and margin by segment | One company may be investing heavily while another is mature. |
| What is backlog? | $47.461 billion at June 30, 2026 under SpaceX’s stated definition | Backlog definition, funding, options, cancellations and timing | Reported totals may contain different obligations. |
| Who pays? | Two customers above 10% of consolidated revenue in the cited period | Top customers, program concentration and government/commercial split | Concentration can amplify one contract decision. |
| What funding is required? | Future operating expense and capital expenditure; June 2026 notes offering | Capital expenditure, development spending, debt and liquidity | Growth may require debt or equity before cash generation. |
| How should it be valued? | Use current diluted shares, market price, cash, debt and segment outlook | Use the same date, accounting basis and valuation method | A single sector multiple ignores mix, losses and risk. |
Step-by-step: how to compare SPCX with a public aerospace or defense stock
- Set the comparison date. Use the same market close and the latest available filing for every company. Record whether each figure is annual, quarterly, unaudited or a one-time offering figure.
- Define the peer set by business overlap. Create separate groups for launch and space, connectivity, defense systems, aircraft and engines, and government services. Exclude a company from a direct valuation comparison when the overlap is only its industry classification.
- Normalize the financial periods. Align fiscal years, quarter lengths, currency, continuing operations and acquisition effects. Do not compare SpaceX’s first-quarter 2026 unaudited loss with a peer’s full-year audited profit.
- Build a segment map. Allocate revenue, operating profit, capital expenditure and backlog to the closest comparable activities. Mark amounts that the filing does not separately disclose as “not stated,” rather than estimating them.
- Check revenue quality. Distinguish launches, hardware deliveries, development contracts, recurring connectivity and government services. Read each company’s revenue-recognition policy and contract notes.
- Reconcile backlog. Copy the definition, expected recognition schedule, cancellation terms, options and customer concentration for each company. Compare conversion and margin, not just the headline total.
- Measure funding and dilution. Add debt, cash, interest expense, capital expenditure, research spending and potential equity dilution. Use diluted shares for market capitalization when available.
- Run valuation scenarios. For a profitable peer, price-to-earnings or enterprise-value-to-EBIT may be meaningful. For SPCX while losses remain substantial, use revenue or segment scenarios only with explicit margin, investment and dilution assumptions. Do not present a single multiple as a precise fair value.
- Stress the operating assumptions. Model delayed launches, slower customer adoption, cost overruns, regulatory delays, contract loss and higher financing costs. State which assumptions are company disclosures and which are your own scenarios.
- Document what remains unknown. A missing peer metric, anonymized customer or undisclosed segment margin is an evidence limit, not permission to fill the gap with a guess.
Valuation methods that fit different business profiles
Enterprise value to revenue
Enterprise value divided by revenue can provide a rough cross-company screen when earnings are negative, but it is highly sensitive to growth, gross margin, capital intensity and the proportion of recurring revenue. A launch contract, a satellite service subscription and a defense maintenance contract should not automatically receive the same multiple.
Enterprise value to operating profit or EBITDA
These measures become more useful when operating profit is positive and comparable. Check whether adjustments exclude recurring stock compensation, launch failures, restructuring, development programs or other costs that a shareholder still bears.
Price to earnings
Price-to-earnings is not informative when the company is reporting net losses. SPCX’s reported 2025 and first-quarter 2026 losses mean an investor should not invert a negative earnings multiple into a valuation conclusion.
Sum-of-the-parts analysis
A sum-of-the-parts model can separate launch, connectivity and AI-related operations, but only if the company discloses enough revenue, cost and capital information. Apply different scenarios to each business and subtract corporate costs, debt and expected dilution. Present a range, not false precision, when segment data are incomplete.
Discounted cash flow
A discounted cash-flow model is especially dependent on launch cadence, customer adoption, capital expenditure, terminal margins, financing and the timing of cash generation. Small changes in those assumptions can materially change the result, so show the assumptions and sensitivity table rather than only a target price.
Common mistakes and how to avoid them
Calling the IPO price the current stock price
The $135 figure applies to the June 2026 offering. Retrieve the current Nasdaq quote before discussing performance, market capitalization or a return from the IPO.
Free tools Windows power users keep installed
One-click scans. No signup required.
Calling backlog revenue
SpaceX’s $47.461 billion backlog is a measure of enforceable obligations with remaining work. It is not recognized revenue, cash received or guaranteed profit. Keep those terms separate in every table and calculation.
Best Value
- 【No Drill Mounted】Cable management tray can be assembled in as little as 3 minutes or less-simply. Side clips easily clampe the edge of desk, pass through the holes on the sides, and secure excess cables with baskets. Desk cable management supports inward or outward installation to meet your needs in different scenarios, and provides you with great convenience when collecting and organizing wires.
- 【Rubber Pad Protects Desk】Wire organizer under desk built-in soft rubber pads on the clamp protect your desk from scratches, so you will not damage your furniture or office.
- 【Sturdy and Beautiful】Cord management under desk is made of high-quality carbon steel and holds about 15 lbs. The wire basket has 2 holes on each side of the tray to enable your cables to pass freely. Cable baskets are suitable for desk thickness use from 0.4" to 2.4".
- 【Space Saving & Keep Organized】Desk cable management tray holds all your power cords, outlet strips, USB hubs and computer transformers hidden from your feet, and the data cables will not enter the vacuum cleaner to keep your desk clean and tidy. Desk wire organizer is also suitable for use in the kitchen and outdoors.
- 【Reduce Safety Risks】Cable tray under desk keeps all plugs away from your kids, no more worry about tripping. Using 2 holes wire tray saves extra space, helps you easily cabling and wire protection. The mesh design is not easy to accumulate dust, but avoids safety accidents caused by messy wires.
Annualizing one loss-making quarter
The $4.276 billion first-quarter 2026 net loss is unaudited and period-specific. It may reflect launch timing, investment, financing and other items that do not repeat evenly. Treat annualization as a scenario, not a reported result.
Ignoring launch timing
Weather, customer readiness and operations can shift launch or deployment between quarters. Use multi-quarter trends and operational disclosures rather than declaring a thesis from one quarter.
Assuming a large government customer is risk-free
Government contracts can still face appropriations, procurement changes, schedule delays, renegotiation and concentration risk. Read the contract and customer notes.
The Tool Desk
Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Comparing headline multiples across unlike companies
A mature defense contractor with positive cash flow and a diversified backlog should not be assigned the same multiple as a loss-making, capital-intensive growth company without adjusting for business mix and risk.
Overlooking dilution and control
Different share classes, options, awards and future issuance can change both economic ownership and voting control. Use the prospectus and latest filing, not only the basic share count shown on a quote page.
What to monitor after the IPO
- Quarterly launch cadence, mission outcomes and the amount of customer-payload revenue recognized.
- Backlog additions, cancellations, expected recognition timing and margin on remaining work.
- Connectivity deployment, subscriber or capacity indicators where disclosed, and regulatory milestones.
- AI-related segment revenue, customer concentration and whether the activity requires additional infrastructure.
- Operating cash flow, capital expenditure, research spending, debt issuance and cash balances.
- Changes in share count, class rights, employee equity and other dilution sources.
- Any customer moving above or below the 10% revenue threshold.
- Management’s statements about profitability, investment pace and financing requirements.
Bottom line for investors
Compare SpaceX with public aerospace and defense stocks by business model, contract quality, profitability, capital intensity, customer concentration, execution risk and governance—not by the $135 IPO price or a sector-average multiple. SPCX combines activities that may deserve different valuation frameworks, and its reported losses and investment needs make revenue and backlog alone inadequate. A disciplined comparison uses the same reporting periods, reconciles backlog definitions, models dilution and funding, and treats launch timing and customer concentration as material risks.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
