Space Exploration Technologies (MIL:1SPCX) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


MIL:1SPCX Space Exploration Technologies Corp MIL:1SPCX
8 GF Score
Price €139.20
! 2 Warning Signs
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What is Space Exploration Technologies Beneish M-Score?

Space Exploration Technologies MIL:1SPCX +0.48% 8 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates MIL:1SPCX with a GF Score™ of 8/100. The stock has 2 warning signs investors should review. Among 326 Aerospace & Defense companies, Space Exploration Technologies ranks worse than 306748.16% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Space Exploration Technologies's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Space Exploration Technologies was 0.00. The lowest was 0.00. And the median was 0.00.

Space Exploration Technologies Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Space Exploration Technologies's Beneish M-Score can be seen below:

* 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 Beneish M-Score Chart

Space Exploration Technologies Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00

Space Exploration Technologies Semi-Annual Data
Dec23 Dec24 Dec25
Beneish M-Score 0.00 0.00 0.00

MIL:1SPCX vs : Beneish M-Score Comparison

For the Aerospace & Defense subindustry, Space Exploration Technologies's Beneish M-Score, along with its competitors' market caps and Beneish M-Score 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 Beneish M-Score vs Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Space Exploration Technologies's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Space Exploration Technologies's Beneish M-Score falls into.


MIL:1SPCX
8GF Score
Space Exploration Technologies Corp MIL:1SPCX
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Space Exploration Technologies Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Space Exploration Technologies for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.1902+0.528 * 0.8696+0.404 * 0.5904+0.892 * 1.1915+0.115 * 1.0824
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0945+4.679 * -0.11968-0.327 * 1.066
=-2.96

* 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.

This Year (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was €2,067 Mil.
Revenue was €15,948 Mil.
Gross Profit was €7,876 Mil.
Total Current Assets was €26,433 Mil.
Total Assets was €78,635 Mil.
Property, Plant and Equipment(Net PPE) was €37,458 Mil.
Depreciation, Depletion and Amortization(DDA) was €5,723 Mil.
Selling, General, & Admin. Expense(SGA) was €2,258 Mil.
Total Current Liabilities was €18,276 Mil.
Long-Term Debt & Capital Lease Obligation was €18,761 Mil.
Net Income was €-4,216 Mil.
Gross Profit was €-600 Mil.
Cash Flow from Operations was €5,794 Mil.
 Total Receivables was €1,457 Mil.
Revenue was €13,384 Mil.
Gross Profit was €5,748 Mil.
Total Current Assets was €15,383 Mil.
Total Assets was €54,494 Mil.
Property, Plant and Equipment(Net PPE) was €21,806 Mil.
Depreciation, Depletion and Amortization(DDA) was €3,652 Mil.
Selling, General, & Admin. Expense(SGA) was €1,731 Mil.
Total Current Liabilities was €11,260 Mil.
Long-Term Debt & Capital Lease Obligation was €12,817 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(2066.68 / 15947.596) / (1457.33 / 13384.325)
=0.129592 / 0.108883
=1.1902

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(5748.145 / 13384.325) / (7876.442 / 15947.596)
=0.429468 / 0.493895
=0.8696

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (26433.008 + 37458.148) / 78635.466) / (1 - (15383.14 + 21805.515) / 54494.21)
=0.187502 / 0.317567
=0.5904

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=15947.596 / 13384.325
=1.1915

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(3651.92 / (3651.92 + 21805.515)) / (5722.654 / (5722.654 + 37458.148))
=0.143452 / 0.132528
=1.0824

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(2257.976 / 15947.596) / (1731.415 / 13384.325)
=0.141587 / 0.129361
=1.0945

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((18760.672 + 18275.6) / 78635.466) / ((12817.055 + 11260.405) / 54494.21)
=0.470987 / 0.441835
=1.066

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-4216.198 - -599.508 - 5794.39) / 78635.466
=-0.11968

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Space Exploration Technologies has a M-score of -2.96 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Space Exploration Technologies (MIL:1SPCX) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Space Exploration Technologies and its competitors. According to the industry distribution chart, Space Exploration Technologies ranks #999999 out of 326 companies in the Aerospace & Defense industry.
Is Space Exploration Technologies' Beneish M-Score too high?
Space Exploration Technologies' current Beneish M-Score is 0.00. Based on the distribution chart, Space Exploration Technologies ranks #999999 out of 326 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Space Exploration Technologies has a GF Score™ of 8/100, reflecting its overall financial health beyond just this single metric.
How does Space Exploration Technologies' Beneish M-Score compare to ?
According to the Aerospace & Defense industry distribution chart, Space Exploration Technologies ranks #999999 out of 326 companies for Beneish M-Score. This places Space Exploration Technologies in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for an Aerospace & Defense company?
A good Beneish M-Score depends on the Aerospace & Defense industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Space Exploration Technologies and its competitors. Space Exploration Technologies's current Beneish M-Score is 0.00. 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 (MIL:1SPCX) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Space Exploration Technologies' overall GF Score™ is 8/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Space Exploration Technologies (MIL:1SPCX), the current Beneish M-Score is 0.00 as of Jun. 25, 2026. 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

Comparable Companies
Address 1 Rocket Road, Starbase, TX, USA, 78521
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.
8GF Score

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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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