SpaceX’s $18.7B 2025 Revenue Points to ~93‑Times Sales Valuation in IPO
SpaceX’s S‑1 shows $18.7 billion revenue for 2025, with a $1.75‑$2 trillion target valuation that translates to roughly a 93‑times price‑to‑sales multiple. The analysis highlights the massive scale of the IPO and the heavy losses from its AI segment.