SpaceX

SPCX Industrials Market cap $1.92T as of Nov 3, 2026 16:00 ET outside the index

Q3 FY26 Jul 1 – Sep 30, 2026 reported Oct 22, 2026

Revenue$14.58B +161% year over year

Gross profit$9.10B 62% margin

Operating profit$2.79B 19% margin

Net profit$4.40B 30% margin

Net profit is larger than what operations earned, because the statement adds $1.61B below it, under Tax benefit and other.

Sankey diagram of SpaceX's income statement for Q3 FY26: revenue of $14.58 billion splits into segments and flows out into costs, ending in net profit.

The numbers behind the diagram

All figures in billions of U.S. dollars, for Q3 FY26 (period ends Sep 30, 2026).
Item	Value	Share of revenue	Year over year
Revenue	14.58	100%	+161%
Connectivity	4.29	29%
AI	2.56	18%
Consumer	2.49	17%
Solutions & infrastructure	2.19	15%
Other	0.97	7%
Space	0.96	7%
Launch services	0.65	4%
Products	0.46	3%
Cost of revenue	−5.48	38%
Gross profit	9.10	62% margin	+11pp
R&D	−4.60	31%	−10pp
SG&A	−1.71	12%	+1pp
Operating profit	2.79	19% margin	+24pp
Tax benefit and other	1.61
Net profit	4.40	30% margin	+49pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Jun 30, 2026).
Item	Value	Share of revenue	Year over year
Revenue	7.81	100%	+92%
Connectivity	4.29	55%	+66%
AI	2.56	33%	+247%
Space	0.96	12%	+29%
Cost of revenue	−3.50	45%
Gross profit	4.32	55% margin	+11pp
R&D	−3.55	45%	−3pp
SG&A	−0.91	12%	−3pp
Operating profit	−0.14	−2% margin	+22pp
Interest & other costs	−0.38
Net profit	−0.54	−7% margin	+18pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

Financial health

The balance sheet, the quarter's capital flow, the debt schedule and the capital structure of the quarter shown above.

Balance sheet of SpaceX, Q3 FY26: assets of $254.05B against liabilities and equity.

Assets $254.05B Liabilities $77.28B Equity $176.77B as of Sep 30, 2026

The numbers behind the diagram

All figures in billions of U.S. dollars, for Q3 FY26 (period ends Sep 30, 2026).
Item	Value	Share
Assets	$254.05B	100%
Cash	$51.29B	20%
Short-term investments	$38.56B	15%
Receivables	$4.77B	2%
Inventory	$2.89B	1%
Digital assets	$1.57B	1%
Other current assets	$3.46B	1%
Property & equipment	$89.48B	35%
Goodwill	$48.42B	19%
Intangibles	$6.35B	3%
Indefinite-lived intangibles	$0.02B	0%
Long-term investments	$0.65B	0%
Deferred tax assets	$0.39B	0%
Other assets	$6.18B	2%
Liabilities	$77.28B	30%
Payables	$13.26B	5%
Accrued liabilities	$6.00B	2%
Deferred revenue	$10.78B	4%
Short-term debt	$2.70B	1%
Other current liabilities	$1.96B	1%
Long-term debt	$36.15B	14%
Other liabilities	$6.43B	3%
Equity	$176.77B	70%
Stockholders' equity	$176.77B	70%

Capital structure of SpaceX, Q3 FY26: debt of $38.8B against book equity of $176.8B.

Debt to equity 0.22× Net cash $51.0B Interest coverage – fewer than four quarters of statements Return on invested capital – fewer than four quarters of statements Cost of debt, after tax – interest expense is not tagged in the filing Book values as of Sep 30, 2026.

Fewer than four consecutive quarters are filed, so nothing built on a year of flows is shown. The cost of equity, the weighted average cost of capital and the value creation spread need the share price, beta and a risk-free rate, which the filing does not carry. They stay empty rather than estimated.

The numbers behind the diagram

Balance sheet of SpaceX, Q2 FY26: assets of $192.77B against liabilities and equity.

Assets $192.77B Liabilities $65.55B Equity $127.22B as of Jun 30, 2026

The numbers behind the diagram

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Jun 30, 2026).
Item	Value	Share
Assets	$192.77B	100%
Cash	$93.52B	49%
Short-term investments	$6.49B	3%
Receivables	$3.60B	2%
Inventory	$2.72B	1%
Digital assets	$1.10B	1%
Other current assets	$1.72B	1%
Property & equipment	$65.74B	34%
Goodwill	$11.65B	6%
Intangibles	$1.32B	1%
Indefinite-lived intangibles	$0.02B	0%
Deferred tax assets	$0.35B	0%
Other assets	$4.55B	2%
Liabilities	$65.55B	34%
Payables	$8.24B	4%
Accrued liabilities	$2.38B	1%
Deferred revenue	$7.98B	4%
Short-term debt	$2.53B	1%
Other current liabilities	$0.86B	0%
Long-term debt	$36.84B	19%
Other liabilities	$6.73B	3%
Equity	$127.22B	66%
Stockholders' equity	$127.22B	66%

Capital structure of SpaceX, Q2 FY26: debt of $39.4B against book equity of $127.2B.

Debt to equity 0.31× Net cash $60.6B Interest coverage – fewer than four quarters of statements Return on invested capital – fewer than four quarters of statements Cost of debt, after tax – interest expense is not tagged in the filing Book values as of Jun 30, 2026.

The numbers behind the diagram

Quarter by quarter

Every set of results we hold, newest first. Open one on its own page.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q3 FY26 Jul 1 – Sep 30, 2026 reported Oct 22, 2026 Operating margin 19% Net profit $4.4B	Jul 1 – Sep 30, 2026	Oct 22, 2026	$14.6B	+161%	19%	$4.4B	30%
Q2 FY26 Apr 1 – Jun 30, 2026 reported Aug 4, 2026 Operating margin −2% Net profit −$0.5B	Apr 1 – Jun 30, 2026	Aug 4, 2026	$7.8B	+92%	−2%	−$0.5B	−7%

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Item	Value	How it is computed
Total debt short-term and long-term borrowings, as on the debt tab	$38.8B	short-term and long-term borrowings, as on the debt tab
Equity, book value stockholders' equity incl. minority interests, as on the balance sheet	$176.8B	stockholders' equity incl. minority interests, as on the balance sheet
Total capital total debt + equity	$215.6B	total debt + equity
Debt share total debt / total capital	18%	total debt / total capital
Equity share equity / total capital	82%	equity / total capital
Net cash total debt − cash and short-term investments	$51.0B	total debt − cash and short-term investments
EBIT, last 4 quarters operating income, four quarters summed	–	operating income, four quarters summed
Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed	–	from the cash flow statement, four quarters summed
EBITDA, last 4 quarters EBIT + depreciation & amortisation	–	EBIT + depreciation & amortisation
Interest expense, last 4 quarters four quarters summed	–	four quarters summed
Debt to equity total debt / equity	0.22×	total debt / equity
Net debt to EBITDA net debt / EBITDA	–net cash $51.0B	net debt / EBITDA
Interest coverage EBIT / interest expense	–fewer than four quarters of statements	EBIT / interest expense
Effective tax rate income tax / pretax income, kept within 0 to 50%	–	income tax / pretax income, kept within 0 to 50%
NOPAT, last 4 quarters EBIT × (1 − effective tax rate)	–	EBIT × (1 − effective tax rate)
Invested capital total debt + equity − cash and short-term investments	$125.8B	total debt + equity − cash and short-term investments
Return on invested capital NOPAT / average invested capital	–fewer than four quarters of statements	NOPAT / average invested capital
Cost of debt, before tax interest / average total debt: the average coupon of the debt on the books, not today's market rate	–interest expense is not tagged in the filing	interest / average total debt: the average coupon of the debt on the books, not today's market rate
Cost of debt, after tax cost of debt before tax × (1 − effective tax rate)	–interest expense is not tagged in the filing	cost of debt before tax × (1 − effective tax rate)
Cost of equity risk-free rate + beta × equity risk premium	–needs market data	risk-free rate + beta × equity risk premium
Weighted average cost of capital cost of equity and after-tax cost of debt, weighted by market value	–needs market data	cost of equity and after-tax cost of debt, weighted by market value
Value creation spread ROIC − WACC	–needs market data	ROIC − WACC

Item	Value	How it is computed
Total debt short-term and long-term borrowings, as on the debt tab	$39.4B	short-term and long-term borrowings, as on the debt tab
Equity, book value stockholders' equity incl. minority interests, as on the balance sheet	$127.2B	stockholders' equity incl. minority interests, as on the balance sheet
Total capital total debt + equity	$166.6B	total debt + equity
Debt share total debt / total capital	24%	total debt / total capital
Equity share equity / total capital	76%	equity / total capital
Net cash total debt − cash and short-term investments	$60.6B	total debt − cash and short-term investments
EBIT, last 4 quarters operating income, four quarters summed	–	operating income, four quarters summed
Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed	–	from the cash flow statement, four quarters summed
EBITDA, last 4 quarters EBIT + depreciation & amortisation	–	EBIT + depreciation & amortisation
Interest expense, last 4 quarters four quarters summed	–	four quarters summed
Debt to equity total debt / equity	0.31×	total debt / equity
Net debt to EBITDA net debt / EBITDA	–net cash $60.6B	net debt / EBITDA
Interest coverage EBIT / interest expense	–fewer than four quarters of statements	EBIT / interest expense
Effective tax rate income tax / pretax income, kept within 0 to 50%	–	income tax / pretax income, kept within 0 to 50%
NOPAT, last 4 quarters EBIT × (1 − effective tax rate)	–	EBIT × (1 − effective tax rate)
Invested capital total debt + equity − cash and short-term investments	$66.6B	total debt + equity − cash and short-term investments
Return on invested capital NOPAT / average invested capital	–fewer than four quarters of statements	NOPAT / average invested capital
Cost of debt, before tax interest / average total debt: the average coupon of the debt on the books, not today's market rate	–interest expense is not tagged in the filing	interest / average total debt: the average coupon of the debt on the books, not today's market rate
Cost of debt, after tax cost of debt before tax × (1 − effective tax rate)	–interest expense is not tagged in the filing	cost of debt before tax × (1 − effective tax rate)
Cost of equity risk-free rate + beta × equity risk premium	–needs market data	risk-free rate + beta × equity risk premium
Weighted average cost of capital cost of equity and after-tax cost of debt, weighted by market value	–needs market data	cost of equity and after-tax cost of debt, weighted by market value
Value creation spread ROIC − WACC	–needs market data	ROIC − WACC

Financial health

Quarter by quarter

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