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SpaceX rated Sell due to high valuation risks despite AI growth and major infrastructure investments.

Analyst Insights
22 Sep 2026
Seeking Alpha
View Source
Bearish
SpaceX rated Sell due to high valuation risks despite AI growth and major infrastructure investments.

SpaceX is rated a Sell because its valuation appears too high given current financial realities. While the company is investing heavily in AI and infrastructure like the $100 billion Louisiana spaceport, most of its operations are internal launches focused on Starlink and AI, making revenue attribution unclear. A reverse discounted cash flow analysis shows that SpaceX would need 38% annual revenue growth and 25% free cash flow margins by 2035 to justify its valuation, assumptions not supported by current disclosures or cash flow trends. Large capital expenditures, especially for AI, outpace revenue growth, increasing valuation risk due to unclear monetization of internal capacity.

SpaceX shares are trading at USD 152.45 on Pluang, showing a modest 0.40% increase in the last day. The stock's market cap stands at $2.01 trillion, with a 52-week range between $108.27 and $202.09 as of Sep 22, 2026 16:11 WIB.

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