Space Exploration Technologies Corp. (SPCX)财务
NASDAQ · Industrials · Aerospace & Defense · 员工22,000人 · CEO Elon Reeve Musk
- 股价
- $134.72 -6.37%
- 市值
- $1.9万亿
- 企业价值
- $1.89万亿
- 最近财报
- Q3 '26 2026-10-22提交
- 下次财报
- 2027-02-25 EPS预期 $0.40
营收(TTM)$320亿– 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)-2.0%– 对比去年同期营业利润 -$6.44亿
净利润(TTM)-$27.6亿– 对比去年同期税后,含营业外收益
自由现金流(TTM)-$393亿– 对比去年同期资本支出 $550亿
稀释EPS(TTM)-$1.01– 对比去年同期最近4个季度之和
净现金$510亿– 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1.9万亿 EV $1.89万亿
- 营收
- $320亿 过去12个月
- 营收增速
- +155% FY2026年一致预期
- 净利润率
- -8.6% 净利润 / 营收,TTM
- P/E
- -136.1× 预期 709.1×(FY2026)
- P/S
- 59.4× 股价 / 营收,TTM
- EV / EBITDA
- 136.9× TTM
- 自由现金流
- -$393亿 过去12个月
- 净利润
- -$27.6亿 过去12个月
- 营收预期
- $477亿 FY2026年一致预期
- 盈利
- 2027-02-25 营收预期 $227亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-20):营收超预期13.3%,EPS 超预期161.4%营收$146亿,预期$129亿(+13.3%);EPS $0.35,预期$0.13(+161.4%)。
- 资本支出占营收的171.7%最近4个季度投入$550亿(同比–)。自由现金流-$393亿。
- 净现金 $510亿现金 + 短期投资 $899亿,含租赁债务 $388亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $146亿 | – | – |
| 毛利率 | 62.4% | – | – |
| 营业利润 | $27.9亿 | – | – |
| 营业利润率 | 19.1% | – | – |
| 净利润 | $44亿 | – | – |
| 稀释EPS | $0.35 | – | – |
| 经营现金流 | $96.3亿 | – | – |
| 资本支出 | $196亿 | – | – |
| 自由现金流 | -$99.6亿 | – | – |
| R&D | $46亿 | – | – |
| 股权激励费用 | $23.6亿 | – | – |
实际 vs 一致预期
2026-10-20| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $146亿 | $129亿 | +13.3% |
| EPS(一致预期口径) | $0.35 | $0.13 | +161.4% |
来自2026-10-20发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Connectivity | $52.5亿 | – | 74.8% | – | – | |
| Consumer | – | – | – | – | – | |
| AI Solutions & Infrastructure | – | – | – | – | – | |
| Enterprise & Government | – | – | – | – | – | |
| Space | $17.7亿 | – | 25.2% | – | – | |
| Launch Services | – | – | – | – | – | |
| Advertising | – | – | – | – | – | |
| Launch & Development | – | – | – | – | – |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| SI | $75.6亿 | – | $4.31亿 | – | 5.7% | – | – |
| Connectivity | $52.5亿 | – | $23.7亿 | – | 45.1% | – | – |
| AI | – | – | – | – | – | – | – |
| Space | $17.7亿 | – | -$700万 | – | -0.4% | – | – |
各分部营业利润
季度各分部营业利润率
季度利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $158亿
- 资本支出
- -$550亿
- 股票回购
- -$50.3亿
- 股息
- $0
- 收购
- $4.28亿
- 债务净发行
- $162亿
- 股权激励费用
- $47.4亿
- 自由现金流
- -$393亿
- 股东回报 / FCF
- -12.8%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | -136.1× | 25,547.6× 3年中的1年 | 25,547.6× – 25,547.6× |
| EV / EBITDA | 136.9× | 213.0× 3年中的2年 | 187.7× – 238.3× |
| EV / 营收 | 59.0× | 49.6× 3年中的2年 | 43.1× – 56.2× |
| 股价 / FCF | -48.5× | 4,229.2× 3年中的1年 | 4,229.2× – 4,229.2× |
| 股价 / 净资产 | 9.1× | 14.6× 3年中的2年 | 11.4× – 17.8× |
| FCF收益率 | -2.1% | -1.4% | -3.0% – 0.0% |
| 投入资本回报率 | -0.3% | -0.9% | -3.6% – 1.0% |
| 净资产收益率 | -2.9% | -3.0% | -11.9% – 3.1% |
分析师
一致目标价 $224.89 (+66.9%)
区间 $75.00 – $450.00 · 评级 Buy
强烈买入0
买入17
持有4
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $477亿 | +155.4% | $0.19 | +111.2% | 709.1× | 24 |
| FY2027 | $1600亿 | +236.0% | $4.10 | +2,057.9% | 32.9× | 25 |
| FY2028 | $3360亿 | +109.5% | $9.79 | +138.7% | 13.8× | 29 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Space Exploration Technologies Corp.在近期10-Q / 10-K文件中标记的全部172项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| $6.61亿 | – | – | – | – | – | |
| $15.7亿 | – | – | – | – | – | |
| $15.7亿 | – | – | – | – | – | |
| 18,712 unit | – | – | – | – | – | |
| $4.75亿 | $1.37亿 | +246.7% | – | – | – | |
| $6.75亿 | $5.14亿 | +31.3% | – | – | – | |
| Accounts Payable, Current | $133亿 | – | – | – | – | – |
| Accounts Receivable, after Allowance for Credit Loss, Current | $47.7亿 | – | – | – | – | – |
| Accounts Receivable, Allowance for Credit Loss, Current | $6700万 | – | – | – | – | – |
| Accrued Liabilities, Current | $60亿 | – | – | – | – | – |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $205亿 | – | – | – | – | – |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $16.6亿 | – | – | – | – | – |
| Additional Paid in Capital | $2130亿 | – | – | – | – | – |
| Amortization of Intangible Assets | $2.93亿 | $2.19亿 | +33.8% | – | – | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $24.2亿 | $3.82亿 | +533.8% | – | – | – |
| Assets | $2540亿 | – | – | – | – | – |
| Assets, Current | $1010亿 | – | – | – | – | – |
| Capital Expenditures Incurred but Not yet Paid | $63.1亿 | -$6.87亿 | +1,019.1% | – | – | – |
| Cash and Cash Equivalents, at Carrying Value | $513亿 | – | – | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $534亿 | $121亿 | +340.0% | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$410亿 | -$29.6亿 | -1,283.5% | – | – | – |
| Common Stock, Shares Authorized | 523亿 | – | – | – | – | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $43.5亿 | -$10.6亿 | +511.4% | – | – | – |
| Contract with Customer, Liability | $175亿 | – | – | – | – | – |
| Contract with Customer, Liability, Current | $108亿 | – | – | – | – | – |
| Contract with Customer, Liability, Noncurrent | $67.4亿 | – | – | – | – | – |
| Contract with Customer, Liability, Revenue Recognized | $12.9亿 | – | – | – | – | – |
| Cost of Revenue | $54.8亿 | $27.1亿 | +102.5% | – | – | – |
| Costs and Expenses | $118亿 | $58.5亿 | +101.5% | – | – | – |
| Debt Issuance Costs, Net | $1.45亿 | – | – | – | – | – |
| Deferred Income Tax Assets, Net | $3.88亿 | – | – | – | – | – |
| Deferred Income Taxes and Tax Credits | -$4.46亿 | $5.03亿 | -188.7% | – | – | – |
| Depreciation | $33.5亿 | $16亿 | +110.1% | – | – | – |
| Depreciation, Depletion and Amortization | $36.4亿 | $18.1亿 | +100.9% | – | – | – |
| Earnings Per Share, Basic | $0.37 | -$0.36 | +202.8% | – | – | – |
| Earnings Per Share, Diluted | $0.35 | -$0.36 | +197.2% | – | – | – |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | -$100万 | -$600万 | +83.3% | – | – | – |
| Effective Income Tax Rate Reconciliation, Percent | -9.7% | -114.2% | +91.5% | – | – | – |
| Employee-related Liabilities, Current | $5.18亿 | – | – | – | – | – |
| Equity Method Investments | $6.53亿 | – | – | – | – | – |
| Equity Securities without Readily Determinable Fair Value, Amount | $2.37亿2026-06-30 | – | – | – | – | – |
| Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount | $7000万2026-06-30 | – | – | – | – | – |
| Estimated Litigation Liability | $3.5亿 | – | – | – | – | – |
| Fair Value, Option, Changes in Fair Value, Gain (Loss) | $5.61亿 | – | – | – | – | – |
| Finance Lease, Interest Expense | $5800万 | $7700万 | -24.7% | – | – | – |
| Finance Lease, Liability | $9.83亿 | – | – | – | – | – |
| Finance Lease, Principal Payments | $9700万 | $7600万 | +27.6% | – | – | – |
| Finance Lease, Right-of-Use Asset, after Accumulated Amortization | $10.4亿 | – | – | – | – | – |
| Finance Lease, Right-of-Use Asset, Amortization | $7900万 | $8200万 | -3.7% | – | – | – |
| Finite-Lived Intangible Assets, Accumulated Amortization | $17.8亿 | – | – | – | – | – |
| Finite-Lived Intangible Assets, Gross | $81.1亿 | – | – | – | – | – |
| Finite-Lived Intangible Assets, Net | $63.3亿 | – | – | – | – | – |
| Gain (Loss) on Extinguishment of Debt | $0 | $0 | – | – | – | – |
| Goodwill | $484亿 | – | – | – | – | – |
| Goodwill, Acquired During Period | $368亿 | – | – | – | – | – |
| Goodwill, Foreign Currency Translation Gain (Loss) | -$2600万 | – | – | – | – | – |
| Impairment of Long-Lived Assets Held-for-use | $0 | $0 | – | – | – | – |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $40.1亿 | -$4.92亿 | +915.9% | – | – | – |
| Income Tax Expense (Benefit) | -$3.9亿 | $5.62亿 | -169.4% | – | – | – |
| Income Taxes Paid, Net | $3100万 | $2600万 | +19.2% | – | – | – |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30
数据截至 2026-11-01