Key Points
Space Exploration Technologies (SpaceX) has experienced a fluctuating valuation since its public debut, reaching a peak of $2.6 trillion shortly after going public. This valuation dropped to $1.4 trillion before stabilizing at around $1.8 trillion. In comparison, Meta Platforms (NASDAQ: META) currently holds a valuation of $1.39 trillion but is anticipated by some analysts to surpass SpaceX by the end of 2026.
In Q2 2026, Meta generated $60.8 billion in revenue, marking a 28% year-over-year increase, though its net income dipped 14% to $15.8 billion. Meanwhile, SpaceX reported a revenue of $7.8 billion, with no net income, despite a 92% growth in revenue compared to the previous year. Analysts project SpaceX’s revenue to reach $44.6 billion in 2026, while its current valuation indicates a price-to-sales ratio of nearly 40 times.
As it stands, analysts believe that Meta could potentially increase its valuation by improving its earnings ratio, which currently sits at 17.5 times forward earnings, compared to the S&P 500’s 21.4 times. The expectation is that SpaceX may face a decline in valuation due to increased stock supply from lockup expirations, potentially making it a trillion-dollar company by the end of 2026.
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