Space Exploration TechnologiesXSWX:SPCX -2.23%5 Gross Margin % is 49.39% as of Dec. 2025, which is 15% above its 10-year median of 42.95. GuruFocus rates XSWX:SPCX with a GF Score™ of 5/100. The stock has 2 warning signs investors should review. Among 342 Aerospace & Defense companies, Space Exploration Technologies ranks better than 81.29% on this metric.
XSWX:SPCX's Gross Margin % is ranked better than 81.29% of 342
companies
in the Aerospace & Defense industry
Industry Median: 26.65
vs XSWX:SPCX: 49.39
Space Exploration Technologies had a gross margin of 49.39% for the quarter that ended in Dec. 2025 => Durable competitive advantage
Space Exploration Technologies (XSWX:SPCX) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Space Exploration Technologies had a gross margin of 49.39% for the quarter that ended in Dec. 2025 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Space Exploration Technologies Gross Margin % Related Terms
Space Exploration Technologies Gross Margin % 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 Gross Margin % Chart
Space Exploration Technologies Annual Data
Trend
Dec23
Dec24
Dec25
Gross Margin %
41.18
42.95
49.39
Space Exploration Technologies Quarterly Data
Dec23
Dec24
Dec25
Gross Margin %
41.18
42.95
49.39
XSWX:SPCX vs : Gross Margin % Comparison
For the Aerospace & Defense subindustry, Space Exploration Technologies's Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Space Exploration Technologies's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Space Exploration Technologies's Gross Margin % 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Space Exploration Technologies (XSWX:SPCX) has a Gross Margin % of 49.39% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Space Exploration Technologies and its competitors. This is 15% above median its historical median of 42.95. Over the past decade, Space Exploration Technologies' Gross Margin % has ranged from 41.18 to 49.39. According to the industry distribution chart, Space Exploration Technologies ranks #64 out of 342 companies in the Aerospace & Defense industry, placing it in the top 18.7%.
Is Space Exploration Technologies' Gross Margin % too high?
Space Exploration Technologies' current Gross Margin % of 49.39% is 15% above median its 10-year median of 42.95. Over the past 10 years, this metric has ranged from a low of 41.18 to a high of 49.39. The Aerospace & Defense industry median Gross Margin % is 26.65. Space Exploration Technologies' value of 49.39% is 85.3% above this industry median. Based on the distribution chart, Space Exploration Technologies ranks #64 out of 342 companies in the Aerospace & Defense industry, which is in the top quartile — a strong position relative to peers. Overall, Space Exploration Technologies has a GF Score™ of 5/100, reflecting its overall financial health beyond just this single metric.
How does Space Exploration Technologies' Gross Margin % compare to ?
According to the Aerospace & Defense industry distribution chart, Space Exploration Technologies ranks #64 out of 342 companies for Gross Margin %. This places Space Exploration Technologies in the top 19% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 26.65. Space Exploration Technologies' value of 49.39% is 85.3% above this benchmark. Historically, Space Exploration Technologies' own Gross Margin % has ranged from 41.18 to 49.39 over the past decade. While the company's 10-year median is 42.95 vs. the industry median of 26.65, 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 Gross Margin % for an Aerospace & Defense company?
The median Gross Margin % among Aerospace & Defense companies is 26.65, based on 342 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Space Exploration Technologies's current Gross Margin % of 49.39% is 85.3% 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 Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Space Exploration Technologies and its competitors. For the Aerospace & Defense industry, the median Gross Margin % is 26.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Space Exploration Technologies's current Gross Margin % is 49.39%, which is 15% above median its own 10-year median of 42.95. 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 (XSWX:SPCX) has a current Gross Margin % of 49.39%. The current Gross Margin % is 49.39%, which is 15% above median its 10-year median of 42.95 and 85.3% above the Aerospace & Defense industry median of 26.65. Space Exploration Technologies' overall GF Score™ is 5/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Space Exploration Technologies (XSWX:SPCX), the current Gross Margin % is 49.39% 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.
5GF Score
Get the complete analysis for XSWX:SPCX
Gross Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XSWX:SPCX has been successfully added to your 