Space Exploration TechnologiesXSWX:SPCX -2.23%5 Net Current Asset Value is CHF-4.48 as of Dec. 2025. GuruFocus rates XSWX:SPCX with a GF Score™ of 5/100. The stock has 2 warning signs investors should review. Among 197 Aerospace & Defense companies, Space Exploration Technologies ranks worse than 507613.71% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Space Exploration Technologies's net current asset value per share for the quarter that ended in Dec. 2025 was CHF-4.48.
The historical rank and industry rank for Space Exploration Technologies's Net Current Asset Value or its related term are showing as below:
XSWX:SPCX's Price-to-Net-Current-Asset-Value is not ranked *
in the Aerospace & Defense industry.
Industry Median: 8.23 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Space Exploration Technologies (XSWX:SPCX) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Space Exploration Technologies Net Current Asset Value Related Terms
Space Exploration Technologies Net Current Asset Value 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 Net Current Asset Value Chart
Space Exploration Technologies Annual Data
Trend
Dec23
Dec24
Dec25
Net Current Asset Value
0.00
-2.76
-4.48
Space Exploration Technologies Quarterly Data
Dec23
Dec24
Dec25
Net Current Asset Value
0.00
-2.76
-4.48
XSWX:SPCX vs : Net Current Asset Value Comparison
For the Aerospace & Defense subindustry, Space Exploration Technologies's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value 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 Price-to-Net-Current-Asset-Value vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Space Exploration Technologies's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Space Exploration Technologies's Price-to-Net-Current-Asset-Value 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.
What does a Net Current Asset Value of CHF-4.48 mean?
Space Exploration Technologies (XSWX:SPCX) has a Net Current Asset Value of CHF-4.48 as of Dec. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Space Exploration Technologies and its competitors. According to the industry distribution chart, Space Exploration Technologies ranks #999999 out of 197 companies in the Aerospace & Defense industry.
Is Space Exploration Technologies' Net Current Asset Value too high?
Space Exploration Technologies' current Net Current Asset Value is CHF-4.48. Based on the distribution chart, Space Exploration Technologies ranks #999999 out of 197 companies in the Aerospace & Defense industry, which is in the bottom quartile 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' Net Current Asset Value compare to ?
According to the Aerospace & Defense industry distribution chart, Space Exploration Technologies ranks #999999 out of 197 companies for Net Current Asset Value. This places Space Exploration Technologies in the lower half of its industry. The industry median Net Current Asset Value is 8.23. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for an Aerospace & Defense company?
The median Net Current Asset Value among Aerospace & Defense companies is 8.23, based on 197 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value 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 Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Space Exploration Technologies and its competitors. For the Aerospace & Defense industry, the median Net Current Asset Value is 8.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Space Exploration Technologies's current Net Current Asset Value is CHF-4.48. 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 Net Current Asset Value of CHF-4.48. The current Net Current Asset Value is CHF-4.48. 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 Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Space Exploration Technologies (XSWX:SPCX), the current Net Current Asset Value is CHF-4.48 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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