Space Exploration TechnologiesSPCX -4.48%12 Return-on-Tangible-Asset is -8.29% as of Dec. 2025. GuruFocus rates SPCX with a GF Score™ of 12/100. The stock has 1 warning sign investors should review. Among 356 Aerospace & Defense companies, Space Exploration Technologies ranks worse than 77.81% on this metric.
The historical rank and industry rank for Space Exploration Technologies's Return-on-Tangible-Asset or its related term are showing as below:
SPCX'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -8.29 Med: -3.21 Max: 1.88
Current: -8.29
During the past 3 years, Space Exploration Technologies's highest Return-on-Tangible-Asset was 1.88%. The lowest was -8.29%. And the median was -3.21%.
SPCX's Return-on-Tangible-Asset is ranked worse than 77.81% of 356
companies
in the Aerospace & Defense industry
Industry Median: 3.085
vs SPCX: -8.29
Space Exploration Technologies (NAS:SPCX) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Space Exploration Technologies Return-on-Tangible-Asset Related Terms
Space Exploration Technologies Return-on-Tangible-Asset 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 Return-on-Tangible-Asset Chart
Space Exploration Technologies Annual Data
Trend
Dec23
Dec24
Dec25
Return-on-Tangible-Asset
0.00
1.88
-8.29
Space Exploration Technologies Semi-Annual Data
Dec23
Dec24
Dec25
Return-on-Tangible-Asset
0.00
1.88
-8.29
SPCX vs GE, RTX, BA: Return-on-Tangible-Asset Comparison
For the Aerospace & Defense subindustry, Space Exploration Technologies's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Space Exploration Technologies's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Space Exploration Technologies's Return-on-Tangible-Asset 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 Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is one times the annual (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of -8.29% mean?
Space Exploration Technologies (SPCX) has a Return-on-Tangible-Asset of -8.29% as of Dec. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Space Exploration Technologies and its competitors. According to the industry distribution chart, Space Exploration Technologies ranks #277 out of 356 companies in the Aerospace & Defense industry, placing it in the top 77.8%.
Is Space Exploration Technologies' Return-on-Tangible-Asset too high?
Space Exploration Technologies' current Return-on-Tangible-Asset is -8.29%. Based on the distribution chart, Space Exploration Technologies ranks #277 out of 356 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' Return-on-Tangible-Asset compare to GE and RTX?
According to the Aerospace & Defense industry distribution chart, Space Exploration Technologies ranks #277 out of 356 companies for Return-on-Tangible-Asset. This places Space Exploration Technologies in the lower half of its industry. The industry median Return-on-Tangible-Asset is 3.09. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for an Aerospace & Defense company?
The median Return-on-Tangible-Asset among Aerospace & Defense companies is 3.09, based on 356 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Space Exploration Technologies and its competitors. For the Aerospace & Defense industry, the median Return-on-Tangible-Asset is 3.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Space Exploration Technologies's current Return-on-Tangible-Asset is -8.29%. 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 Return-on-Tangible-Asset of -8.29%. The current Return-on-Tangible-Asset is -8.29%. 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 Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Space Exploration Technologies (SPCX), the current Return-on-Tangible-Asset is -8.29% 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.
12GF Score
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