Space Exploration Technologies Corp. (SPCX)
Industrials · Aerospace & Defense · Data as of 2026-10-22
Bottom line
SPCX is trading at a premium to its history, near its historical resistance zone, and recent volume suggests money flowing out. Historically, this combination has called for extra caution. Past patterns are not a guarantee of future results.
Valuation — Expensive relative to its own sales history (Red)
SPCX isn't profitable yet, so we compare its price-to-sales of 62.5× with its own typical level (32.7×) while revenue grows about 33% a year. Looking ahead, analysts expect revenue to grow about 147% and on next year's expected revenue the company is valued at 43.9× sales. It holds roughly 2 years of cash at its current spending rate. Analysts currently expect it to turn profitable around 2026.
Quality check: revenue growth plus free-cash-flow margin comes to about -89 — below the 40 that fast growers are often measured against, so the growth is currently coming at a high cash cost.
Price zones — Near its historical resistance zone (Red)
At $144.75, the stock is close to the upper end of its recent range. Over the past year SPCX has traded between $104.83 and $225.64; its historical support zone sits near $104.83 and resistance near $149.12. It is below its 50-day average; the 200-day average needs more history.
52-week range $104.83–$225.64 · 50-day average $149.12
Money flow — Money is flowing out (Red)
Recent trading in SPCX shows more volume on falling days than rising days, a pattern often described as distribution. Volume on up days has been about 0.8× volume on down days over the last 30 sessions.
Dividends & company facts
SPCX doesn't pay a dividend, and it issued more shares than it bought back in fiscal 2025. Its share count rose 333.9% over the past year.
- Shares, past year
- +333.9%
- Revenue, 12 months
- $31.2B
- Profit, 12 months
- $-1421M
- Employees
- 22,000
- CEO
- Elon Reeve Musk
- Headquarters
- Starbase, TX
- Listed since
- 2026 · NASDAQ
About the company
Space Exploration Technologies Corp. designs, manufactures, and launches rockets and spacecraft, and provides satellite-based broadband services in the United States, Ireland, and Canada. The company offers launch services for satellites, cargo, and crew to destinations such as low Earth orbit, the International Space Station, the Moon, and Mars, using vehicles, including Falcon 9, Falcon Heavy, and Starship.
Data notes
Fewer than 200 days of price history; 200-day average not available.
Fewer than 52 weeks of price history; range uses available data.
Related stocks
一句话结论
SPCX 相对自身历史处于溢价水平，接近其历史阻力区，近期成交量显示资金正在流出。从历史来看，这样的组合需要格外谨慎。过去的形态并不能保证未来的结果。
估值 — 相对自身销售额历史偏高
SPCX 目前尚未盈利，因此我们把它 62.5× 的市销率与其自身惯常的水平（32.7×）作比较，同期营收年增长约 33%。往前看，分析师预计营收将增长约 147%，按明年的预期营收计算，公司的估值相当于销售额的 43.9×。按目前的支出速度，其手上的现金约可支撑 2 年。分析师目前预计它将在 2026 年前后转为盈利。
质量核对：营收增速加自由现金流利润率约为 -89，低于高增长公司常被对照的 40——目前的增长伴随着较高的现金消耗。
价格区间 — 接近其历史阻力区
目前价格为 $144.75，接近其近期区间的上沿。过去一年 SPCX 的价格在 $104.83 到 $225.64 之间波动；其历史支撑区在 $104.83 附近，阻力区在 $149.12 附近。它位于 50 日均线下方；200 日均线还需要更长的历史。
资金流向 — 资金正在流出
SPCX 近期下跌日的成交量高于上涨日，这种形态常被称为派发。过去 30 个交易日，上涨日的成交量约为下跌日的 0.8×。
股息与公司概况
SPCX 不派发股息，并且在 2025 财年发行的股票多于回购的股票。其股数过去一年增加了 333.9%。
UnderTheLight 用直白的语言解释股票——估值、价格区间与资金流向。它只描述数据，不构成任何投资建议。
UnderTheLight explains stocks in plain English — valuation, price zones and money flow as traffic lights, recomputed nightly. It describes data; it is not investment advice and never recommends a trade.