SpaceX Files for IPO
SpaceX has filed confidentially to go public, a move that could target a valuation of $2 trillion, making it potentially the largest IPO in history. The company could raise up to $75 billion, surpassing the current record held by Saudi Aramco.
As of December 2025, SpaceX had revenue between $15 billion and $16 billion, with an EBITDA of approximately $8 billion. While primarily profitable through its Starlink satellite service, nearly all revenue originates from this segment, as NASA is expected to contribute just 5% of its revenue this year.
With a target valuation that represents about 130 times sales and 250 times EBITDA, analysts are expressing concerns about the company’s inflated prospects in comparison to more established peers. SpaceX’s dominance in the rocket launching market is notable, but the ambitious timelines proposed by CEO Elon Musk have raised skepticism among investors.
