SpaceX trades at 115 times revenue with a $2.16 trillion valuation despite a $4.9 billion net loss in 2025.
SpaceX shares have fallen 27% from their June 16 intraday peak of $225.64, trimming the company’s market capitalization to $2.16 trillion. The decline follows a period of heightened valuation expectations driven by growth in rocket launches, satellite internet, and AI services.
The company reported $18.7 billion in revenue for 2025, up 33% year-over-year, but posted a net loss of $4.9 billion, largely due to heavy spending in its AI division. Analysts anticipate revenue acceleration this year, fueled by AI contracts and Starlink expansion, though losses may widen further.
Despite the pullback, SpaceX remains valued at 115 times its 2025 revenue, reflecting high growth expectations amid ongoing infrastructure investments.