SpaceX Stock Now Has a Price to Sales Ratio Over 115x. Is It Worth Buying Anyway?

2 hours ago 5

Matt Frankel, CFP®, The Motley Fool

Wed, July 1, 2026 astatine 5:31 AM CDT 3 min read

Even aft cooling disconnected from its post-IPO rally, Space Exploration Technologies (NASDAQ: SPCX), amended known arsenic SpaceX, has a marketplace headdress of $2.25 trillion and is 1 of the astir invaluable companies successful the world. Based connected its gross of astir $19.3 cardinal implicit the past 4 quarters, SpaceX has a price-to-sales ratio of astir 116.

Let's beryllium clear. That's an incredibly high multiple. Some of the astir rapidly increasing AI infrastructure stocks commercialized for P/S multiples successful the 40-50 range. The mean S&P 500 institution trades for astir 3x sales. But there's much to the story. The price-to-sales ratio of 116 is simply a backward-looking metric. The much important happening to see is whether SpaceX's gross successful 2027, 2028, and beyond volition warrant it.

Missed Nvidia successful 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" awesome flashed for a little-known chipmaker called Nvidia. For the archetypal clip successful years, that aforesaid "Total Conviction" awesome is flashing for a institution 1/100th the size of Nvidia. Continue »

Man with confused look looking astatine laptop.

What will SpaceX's gross be?

SpaceX's gross is simply a unsocial concern due to the fact that its trailing 12-month gross and what investors should expect going guardant are 2 antithetic things.

The biggest crushed is SpaceX's caller AI compute deals. Between 3 abstracted deals with Anthropic, Alphabet's (NASDAQ: GOOGL)(NASDAQ: GOOG) Google, and Reflection AI, SpaceX volition beryllium receiving astir $2.32 cardinal per period successful AI compute gross erstwhile each 3 deals are successful effect (starting successful October). That's $27.8 cardinal successful yearly gross from these 3 deals alone.

Beyond the AI compute deals, it's important to constituent retired that SpaceX's Starlink outer net work grew gross by 50% year-over-year successful 2025 and has hardly scratched the aboveground of its addressable marketplace opportunity. Plus, erstwhile SpaceX's overmuch larger Starship rocket begins commercialized flights, it could beryllium a large gross maturation driver.

SpaceX's gross volition astir surely turn substantially successful the 2nd fractional of 2026 and beyond. Looking up to 2027, there's a coagulated basal lawsuit to beryllium made that SpaceX volition get astir $22-24 cardinal successful gross from Starlink, $30 cardinal from xAI (including the AI compute deals, the X societal media platform, and Grok, and astir $6 cardinal from the rocket motorboat business, for a full of astir $59 billion. This would springiness SpaceX a overmuch little P/S aggregate of 38 based connected its existent valuation, and gross could perchance beryllium adjacent higher if the institution gets further AI compute deals.