SpaceX posted third-quarter results on Oct. 20, with revenue up 161% year over year to $14.6 billion, beating estimates by $1.6 billion, and EPS of $0.35 beating consensus by $0.19 versus a loss of $0.36 per share a year earlier. Starlink generated 47% of revenue in the first nine months of 2026 and is the only profitable segment on a GAAP basis, while the SI (40%) and space (12%) segments remain unprofitable. Analysts expect 2027 revenue of $177.6 billion and net income of $51.8 billion, or $3.87 per share. At $150, the stock trades 11% above its $135 IPO price and at 38 times next year's earnings. The author would not go all-in at these levels but would consider a small starter position, while Elon Musk claims annual revenue could surpass $1 trillion by 2030.
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