stockrowSpace Exploration Technologies Corp.
SPCX Industrials Aerospace & Defense
Space Exploration Technologies Corp.’s revenue for fiscal 2025 (year ended December 2025) was $18.7 billion, up 33.2% from fiscal 2024.
- Revenue
- +161.4%
- EPS
- +203.2%
- Free cash flow
- −212.7%
- Total debt
- +181.6%
Quarter to September 2026, against a year earlier
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Space Exploration Technologies Corp. (SPCX) Piotroski F-score
Space Exploration Technologies Corp.'s Piotroski F-score for fiscal 2025 cannot be worked out: total assets not reported.
Piotroski F-score, annual
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (6.62%) | — | Fail | 0 |
| Positive operating cash flow | 6.79b | 5.78b | Pass | 1 |
| Rising return on assets | (6.62%) | — | n/a | — |
| Cash flow above net income | 11.72b | 5.76b | Pass | 1 |
| Falling long-term leverage | 0.29 | — | n/a | — |
| Rising current ratio | 1.45 | 1.37 | Pass | 1 |
| No new shares issued | 2,926,000,000 | 2,848,000,000 | Fail | 0 |
| Rising gross margin | 49.39% | 42.95% | Pass | 1 |
| Rising asset turnover | 0.25 | — | n/a | — |
| Piotroski F-score | n/a — total assets not reported | — | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| HWM Howmet Aerospace Inc. compare | 8 |
| RTX RTX Corporation compare | 8 |
| GD General Dynamics Corporation compare | 8 |
| TDG Transdigm Group Incorporated compare | 7 |
| BA The Boeing Company compare | 6 |
| NOC Northrop Grumman Corporation compare | 6 |
| LMT Lockheed Martin Corporation compare | 6 |
| GE GE Aerospace compare | 5 |
| SPCX Space Exploration Technologies Corp. | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover
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- Revenue
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- Free cash flow
- Operating cash flow
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- Operating margin
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- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
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- Return on assets
- Return on invested capital
- Debt to equity
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