SpaceX (SPCX) stock still looks pricey after its post-IPO swoon, which could make analyzing its first earnings report later today that much tougher.
AlphaSpace stat of the afternoon: 105.9
SpaceX stock trades on a forward enterprise value/EBITDA ratio of 105.9 times, per Yahoo Finance AlphaSpace data. The outsized ratio reflects Wall Street optimism that SpaceX will turn a profit in 2027 amid strong demand for its Starlink services.
Speaking of optimism, 27 of the 34 Wall Street analysts that cover SpaceX rate the stock a Buy or Strong Buy.
The finer details
Here is what we know about SpaceX ahead of its first earnings report as a public company:
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One, SpaceX stock has plunged 52% from the June 16 intraday highs.
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Two, there is a better chance of finding alien life on Mars today than SpaceX reporting a profit for its most recent quarter. The Street projects SpaceX lost $0.29 per share in its most recent quarter, with $6.82 billion in sales.
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And three, on Thursday, SpaceX employees and some early investors will be able to sell 911.5 million shares. That accounts for 12% of the total shares and more than the 640 million shares currently on the market.
Wall Street chatter
Deutsche Bank analyst Edison Yu: “While we remain steadfast in our long-term bull thesis for SpaceX, the stock has clearly been under significant downward pressure. Simplistically, we think the main issue has been a tactical fear of the upcoming lock-ups, further exacerbated by uncertainty around the AI business, complexity of a potential Tesla merger, and lower than expected passive index buying. That being said, we are optimistic following the lock-ups coming off, the stock can stabilize at some level. Moreover, announcing a large government/sovereign AI deal would be viewed positively for the stock.”
Brian Sozzi is Yahoo Finance’s Executive Editor, host of the Power Players with Brian Sozzi podcast, and a member of Yahoo Finance’s editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.
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