SpaceX Financials
Trailing-twelve-month figures from SpaceX's SEC filings via Alpha Vantage, plus the revenue trajectory that got it here.
Revenue trajectory, 2016–today
Annual figures through 2025 are Sacra's pre-IPO estimates; the final point is the live trailing-twelve-month figure from SpaceX's SEC filings.
| Period | Revenue | Change |
|---|---|---|
| 2016 | $1,8mld | — |
| 2017 | $1,9mld | +$0,1mld |
| 2018 | $2mld | +$0,1mld |
| 2019 | $2,1mld | +$0,1mld |
| 2020 | $1,6mld | +$-0,5mld |
| 2021 | $2,3mld | +$0,7mld |
| 2022 | $4,6mld | +$2,3mld |
| 2023 | $8,7mld | +$4,1mld |
| 2024 | $13,1mld | +$4,4mld |
| 2025 | $18,7mld | +$5,6mld |
| TTM (current) | $23,04mld | +92% |
Profitability
SpaceX is not yet profitable on a trailing basis: a net margin of -35,7% and an operating margin of -1,8%. That's consistent with a company still funding Starship development, Starlink's satellite build-out, and its newly acquired xAI business — heavy capex and R&D ahead of scale, not a sign of a struggling core launch/Starlink business.
A trailing P/E ratio isn't meaningful while SpaceX remains unprofitable on a trailing basis — Alpha Vantage leaves that field empty, and we show that as an honest em-dash rather than inventing a number.
Revenue by segment
SpaceX doesn't break out segment revenue in a public 10-Q the way a company with tracking stock might, so this is directional, not exact. Sacra's research estimated Starlink at roughly 70% of SpaceX's total 2025 revenue, up from 58% in 2024, with launch services and the newly-added xAI/Grok/X business making up the rest. See our business breakdown for the sourced detail on each segment.
SEC filings
SpaceX's Class A common stock trades under CIK 0001181412. Every figure on this page traces back to a filing you can read yourself:
- Form 10-Q, Q2 2026 (filed 2026-08-04) — the source for share counts, the IPO's terms, and the dual-class structure.
- Form S-1 / 424B4 — the IPO prospectus.