The entrepreneur Elon Musk founded Space Exploration Technologies Corp., or SpaceX, in 2002 to reduce space transportation costs so humanity could eventually colonize Mars. While Musk's ultimate dream for the company has yet to become a reality, SpaceX has become one of the world's most valuable start-ups. As of early 2025, it was valued at $350 billion.
SpaceX has been a groundbreaking company over the years. It was the first private company to develop a liquid-propellant rocket that reached orbit, the first to send astronauts to the International Space Station, and the first to achieve a vertical propulsive landing.
SpaceX has a growing commercial operation. It develops and manufactures spacecraft, provides launch services, and operates a commercial satellite-based internet service from its Starlink satellites.
The company is growing increasingly valuable as its revenues and profits soar. Many retail investors are likely wondering when they'll get their chance to invest in the company. Here's a look at what to consider if that opportunity ever arises.
Is it publicly traded?
Is SpaceX publicly traded?
SpaceX doesn't trade publicly on major stock exchanges like the New York Stock Exchange (NYSE) or Nasdaq stock exchange. So, retail investors can't buy shares of the space exploration company through their brokerage accounts.
Musk controls the company and owns a significant stake. It's one of Musk's top investments, with reports estimating that he holds over 40% of its shares. Employees and venture capital investors own the rest of the company's outstanding shares.
Outstanding Shares
Will it IPO?
Will SpaceX IPO?
As of early 2025, SpaceX didn't have an initial public offering (IPO) on the calendar and had no plans to go public. Musk has said in the past that SpaceX doesn't need to raise capital to finance its investment programs, so it doesn't need to complete an IPO to bring in money from outside investors to finance growth.
Meanwhile, the company has an active internal trading program to allow employees and existing investors to sell shares. In late 2024, SpaceX made an agreement with investors that would allow insiders to sell their shares at $185. It provided employees with liquidity for their shares so that the company wouldn't need to complete an IPO to allow insiders to sell shares.
There has been some speculation that the company will take its Starlink satellite internet business public. However, Musk has thrown cold water on this idea. He has said he wants Starlink to achieve smooth and predictable revenue growth and cash flow before it goes public.
How to buy
How to buy SpaceX stock
Because SpaceX isn't publicly traded, investors can't buy shares through their brokerage accounts. However, some investors can still buy shares through other platforms that offer secondary trading of pre-IPO companies.
For example, Rainmaker Securities is a platform that makes private securities transactions possible. It lets institutions and accredited investors (i.e., high-net-worth individuals or people with a high income) buy and sell shares of privately held companies.
High Net-Worth Individual (HNWI)
Since most investors don't meet the accreditation qualifications, they can't buy shares of SpaceX directly until it goes public. However, they do have options to consider.
For example, the ARK Venture Fund (NASDAQMUTFUND:ARKV.X), a public venture capital fund, held shares of SpaceX and several other private companies. Investors interested in getting in on the ground floor of some top pre-IPO companies should check it out.
Another option is to invest in some of the top space stocks to gain exposure to the markets SpaceX seeks to capture.
L3Harris Technologies
L3Harris Technologies (LHX -1.53%) is a leading defense contractor. It provides technology solutions across space, air, land, sea, and cyber. The company provides a variety of space solutions and capabilities, including solid rocket motors, responsive launch solutions, satellite technology, and deep space exploration engine capabilities.
Rocket Lab USA
Rocket Lab USA (RKLB -1.4%) is an integrated space company founded in 2006. It provides government and commercial customers with launch services, spacecraft manufacturing, satellite components, and on-orbit management solutions.
The company started out focusing on small launch capabilities, developing the Electron launch vehicle, which is now the second-most frequently launched U.S. rocket. It's currently developing Neutron, a larger, next-generation launch vehicle. Rocket Lab has also invested in diversifying its operations into additional space-related solutions.
Virgin Galactic Holdings
Virgin Galactic Holdings (SPCE -4.17%) is an aerospace and space travel company founded by well-known entrepreneur Richard Branson. It pioneered human spaceflight for private individuals and researchers.
The company went public in 2019 when it merged with a special purpose acquisition company (SPAC) run by famous investor Chamath Palihapitiya. After many delays, the company launched its first test spaceflight in 2021. It finally launched commercial services for scientific research in 2023, with plans to launch a new class of spaceships for commercial space tourism services by 2026.
ETFs
ETFs with exposure to SpaceX
Another alternative to consider for investors interested in SpaceX stock is an exchange-traded fund (ETF) focused on the space sector. As of early 2025, three ETFs focused on this sector:
Exchange-Traded Fund (ETF)
- ARK Space Exploration & Innovation ETF (NYSEMKT:ARKX): The fund, actively managed by Cathie Wood, focuses on companies engaged in space exploration and innovation, aiming for between 35 and 55 holdings. It has a reasonable ETF expense ratio of 0.75%. As of early 2025, the ETF had over $285 million in assets under management (AUM). Rocket Lab and L3Harris Technologies were among its top holdings (second and tenth-largest in early 2025, at 9% and 3.7% of its net assets, respectively).
- Procure Space ETF (NASDAQ:UFO): The ETF owns shares of companies involved in space-related industries. Although tiny (roughly $50 million in AUM as of early 2025), it also has a 0.75% expense ratio. It had 35 holdings, including Rocket Lab USA (the second-largest, at 5.3% of its assets).
- SPDR S&P Kensho Final Frontiers ETF (NYSEMKT:ROKT): This passively managed fund focuses on companies that make products or provide space travel and exploration services. The tiny ETF had only about $20 million in AUM and a 0.45% gross expense ratio as of early 2025. The fund held around 30 stocks, including Rocket Labs (third-largest, at 4.2% of its assets).
Should I invest?
Should I invest in SpaceX?
Although most investors can't buy shares of SpaceX yet, people interested in the company must consider a couple of crucial aspects before buying shares (assuming it eventually completes an IPO). Two of the most important are profitability and valuation. Here's a closer look at these two critical investment factors.Most Famous Investors in the World
Is it profitable?
Is SpaceX profitable?
Since SpaceX isn't publicly traded, it isn't required to disclose its financial results. However, given the company's popularity, it has revealed some financial data.
A report by INC highlighted that the company posted a $3 billion profit in 2023 on $9 billion in revenue. That was a significant improvement from 2019, when the company reported a $501 million net loss on $1.5 billion of revenue.
SpaceX is on track to make even more money in 2024. Data from Payload estimated that the company's revenue will rocket to more than $13 billion in 2024. That would position it to grow its profits by 50% to around $4.5 billion.
These numbers suggest SpaceX is very profitable. If it can grow its revenue and profitability at high rates, it will give its stock the fuel to skyrocket in the future.
Valuation
What is SpaceX's valuation?
Valuation is another crucial factor investors should consider before buying any stock. Paying too high a price could cause them to lose money, even if profits take off.
As of early 2025, SpaceX's private market valuation was $350 billion ($185 per share) following an ongoing secondary share sale. That was a staggering 67% increase from its previous valuation of $210 billion. That makes SpaceX more valuable than leading U.S. defense contractors Boeing (BA 0.81%), Lockheed Martin (LMT 0.29%), and Northrop Grumman (NOC 0.22%).
While the company is profitable, that's a hefty valuation. At $4.5 billion in projected net income in 2024, SpaceX trades at a forward price-to-earnings ratio of nearly 70 times. Although expensive, it's not quite as pricey as some other high-flying stocks.
SpaceX could grow into its valuation if its revenue and profits continue to skyrocket in the coming years. So, it could be trading at a more reasonable valuation by the time it goes public.
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The bottom line
The bottom line on SpaceX
SpaceX isn't currently publicly traded, so most investors can't buy shares of Musk's space exploration company. However, the company or its Starlink satellite internet service business could eventually go public.
If that happens, interested investors should carefully consider the company's profitability and valuation because they will be key drivers of its stock price in the future. If both appear poised to skyrocket, the stock could also soar.
FAQs
Investing in SpaceX: FAQs
Can I buy stock in SpaceX?
SpaceX isn't a publicly traded company, so you can't buy shares through a brokerage account. However, accredited investors can sometimes purchase shares through platforms that trade private securities on a pre-IPO secondary market.
Is it worth investing in SpaceX?
SpaceX could be a worthwhile investment. The space exploration company is rapidly growing its revenue as it expands its launch services and satellite internet businesses. Those drivers are fueling a rapidly rising private market valuation.
Can I buy Starlink stock?
As of early 2025, you couldn't buy shares of Starlink stock. The satellite internet company is a subsidiary of SpaceX, a privately held space exploration company controlled by Elon Musk.
Does SpaceX have a stock symbol?
SpaceX does not have a stock symbol. The space exploration company is a privately held company controlled by Elon Musk.
