The SpaceX IPO Looks Expensive on the Surface. Here's What Investors Should Know.
2026-06-06 02:25:00 ET
Reports suggest SpaceX is targeting a valuation of $1.77 trillion. That's on the higher side of earlier reports, which speculated that the company would target a valuation somewhere between $1.5 trillion and $2 trillion.
Many experts are sounding the alarm about this lofty valuation, especially considering SpaceX remains unprofitable to this day. A recent report from Morningstar , for example, values the company at around $780 billion. Yet according to a recently disclosed prospectus, SpaceX believes it is chasing a total addressable market of $28.5 trillion.
For a historical perspective, it's very reasonable to think that SpaceX's targeted $1.77 trillion valuation is scarily overpriced. That's because most of the company's potential has yet to be realized. Pricing the stock, therefore, becomes mostly a practice of what the company can become, not what it is today.
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