Space Exploration TechnologiesSPCX -4.48%12 Debt-to-EBITDA is 5.27 as of Dec. 2025, which is 35% above its 10-year median of 3.89. GuruFocus rates SPCX with a GF Score™ of 12/100. The stock has 1 warning sign investors should review. Among 254 Aerospace & Defense companies, Space Exploration Technologies ranks worse than 81.5% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Space Exploration Technologies's Debt-to-EBITDA or its related term are showing as below:
SPCX'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 2.51 Med: 3.89 Max: 5.27
Current: 5.27
During the past 3 years, the highest Debt-to-EBITDA Ratio of Space Exploration Technologies was 5.27. The lowest was 2.51. And the median was 3.89.
SPCX's Debt-to-EBITDA is ranked worse than 81.5% of 254
companies
in the Aerospace & Defense industry
Industry Median: 1.845
vs SPCX: 5.27
Space Exploration Technologies (NAS:SPCX) Debt-to-EBITDA Explanation
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Space Exploration Technologies Debt-to-EBITDA Related Terms
Space Exploration Technologies Debt-to-EBITDA Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Space Exploration Technologies Debt-to-EBITDA Chart
Space Exploration Technologies Annual Data
Trend
Dec23
Dec24
Dec25
Debt-to-EBITDA
0.00
2.51
5.27
Space Exploration Technologies Semi-Annual Data
Dec23
Dec24
Dec25
Debt-to-EBITDA
0.00
2.51
5.27
SPCX vs GE, RTX, BA: Debt-to-EBITDA Comparison
For the Aerospace & Defense subindustry, Space Exploration Technologies's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Space Exploration Technologies Debt-to-EBITDA vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Space Exploration Technologies's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Space Exploration Technologies's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is one times the quarterly (Dec. 2025) EBITDA data.
Space Exploration Technologies (SPCX) has a Debt-to-EBITDA of 5.27 as of Dec. 2025. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Space Exploration Technologies. This is 35% above median its historical median of 3.89. Over the past decade, Space Exploration Technologies' Debt-to-EBITDA has ranged from 2.51 to 5.27. According to the industry distribution chart, Space Exploration Technologies ranks #207 out of 254 companies in the Aerospace & Defense industry, placing it in the top 81.5%.
Is Space Exploration Technologies' Debt-to-EBITDA too high?
Space Exploration Technologies' current Debt-to-EBITDA of 5.27 is 35% above median its 10-year median of 3.89. Over the past 10 years, this metric has ranged from a low of 2.51 to a high of 5.27. The Aerospace & Defense industry median Debt-to-EBITDA is 1.85. Space Exploration Technologies' value of 5.27 is 185.6% above this industry median. Based on the distribution chart, Space Exploration Technologies ranks #207 out of 254 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Space Exploration Technologies has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Space Exploration Technologies' Debt-to-EBITDA compare to GE and RTX?
According to the Aerospace & Defense industry distribution chart, Space Exploration Technologies ranks #207 out of 254 companies for Debt-to-EBITDA. This places Space Exploration Technologies in the lower half of its industry. The industry median Debt-to-EBITDA is 1.85. Space Exploration Technologies' value of 5.27 is 185.6% above this benchmark. Historically, Space Exploration Technologies' own Debt-to-EBITDA has ranged from 2.51 to 5.27 over the past decade. While the company's 10-year median is 3.89 vs. the industry median of 1.85, Space Exploration Technologies has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for an Aerospace & Defense company?
The median Debt-to-EBITDA among Aerospace & Defense companies is 1.85, based on 254 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Space Exploration Technologies's current Debt-to-EBITDA of 5.27 is 185.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Space Exploration Technologies. For the Aerospace & Defense industry, the median Debt-to-EBITDA is 1.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Space Exploration Technologies's current Debt-to-EBITDA is 5.27, which is 35% above median its own 10-year median of 3.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Space Exploration Technologies stock overvalued right now?
Space Exploration Technologies (SPCX) has a current Debt-to-EBITDA of 5.27. The current Debt-to-EBITDA is 5.27, which is 35% above median its 10-year median of 3.89 and 185.6% above the Aerospace & Defense industry median of 1.85. Space Exploration Technologies' overall GF Score™ is 12/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Space Exploration Technologies (SPCX), the current Debt-to-EBITDA is 5.27 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Space Exploration Technologies Business Description
Founded in 2002 and commonly known as SpaceX, the Space Exploration Technologies Corporation designs, manufactures, and operates a family of reusable rockets to launch various payloads into Earth orbit for government and commercial customers. Starting in 2019, the company began launching a constellation of its own communication satellites to provide mobile broadband and wireless services under the Starlink brand. In early 2026, the company acquired xAI from its founder, Elon Musk, which operates a large language artificial intelligence model named Grok, a gigawatt-scale data center called Colossus, and the social media network X.
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