Space Exploration TechnologiesXSWX:SPCX -2.23%5 Return-on-Tangible-Equity is -106.57% 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 334 Aerospace & Defense companies, Space Exploration Technologies ranks worse than 84.73% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Space Exploration Technologies's annualized net income for the quarter that ended in Dec. 2025 was CHF-19,748 Mil. Space Exploration Technologies's average shareholder tangible equity for the quarter that ended in Dec. 2025 was CHF18,531 Mil. Therefore, Space Exploration Technologies's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was -106.57%.
The historical rank and industry rank for Space Exploration Technologies's Return-on-Tangible-Equity or its related term are showing as below:
XSWX:SPCX'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -26.64 Med: -9.63 Max: 7.38
Current: -26.64
During the past 3 years, Space Exploration Technologies's highest Return-on-Tangible-Equity was 7.38%. The lowest was -26.64%. And the median was -9.63%.
XSWX:SPCX's Return-on-Tangible-Equity is ranked worse than 84.73% of 334
companies
in the Aerospace & Defense industry
Industry Median: 8.195
vs XSWX:SPCX: -26.64
Space Exploration Technologies (XSWX:SPCX) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Space Exploration Technologies Return-on-Tangible-Equity Related Terms
Space Exploration Technologies Return-on-Tangible-Equity 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-Equity Chart
Space Exploration Technologies Annual Data
Trend
Dec23
Dec24
Dec25
Return-on-Tangible-Equity
0.00
7.38
-26.64
Space Exploration Technologies Quarterly Data
Dec23
Dec24
Dec25
Return-on-Tangible-Equity
0.00
29.52
-106.57
XSWX:SPCX vs : Return-on-Tangible-Equity Comparison
For the Aerospace & Defense subindustry, Space Exploration Technologies's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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-Equity vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Space Exploration Technologies's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Space Exploration Technologies's Return-on-Tangible-Equity 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Dec. 2025) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of -106.57% mean?
Space Exploration Technologies (XSWX:SPCX) has a Return-on-Tangible-Equity of -106.57% as of Dec. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Space Exploration Technologies and its competitors. According to the industry distribution chart, Space Exploration Technologies ranks #283 out of 334 companies in the Aerospace & Defense industry, placing it in the top 84.7%.
Is Space Exploration Technologies' Return-on-Tangible-Equity too high?
Space Exploration Technologies' current Return-on-Tangible-Equity is -106.57%. Based on the distribution chart, Space Exploration Technologies ranks #283 out of 334 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' Return-on-Tangible-Equity compare to ?
According to the Aerospace & Defense industry distribution chart, Space Exploration Technologies ranks #283 out of 334 companies for Return-on-Tangible-Equity. This places Space Exploration Technologies in the lower half of its industry. The industry median Return-on-Tangible-Equity is 8.20. 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-Equity for an Aerospace & Defense company?
The median Return-on-Tangible-Equity among Aerospace & Defense companies is 8.20, based on 334 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity 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-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Space Exploration Technologies and its competitors. For the Aerospace & Defense industry, the median Return-on-Tangible-Equity is 8.20 — 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-Equity is -106.57%. 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 Return-on-Tangible-Equity of -106.57%. The current Return-on-Tangible-Equity is -106.57%. 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 Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Space Exploration Technologies (XSWX:SPCX), the current Return-on-Tangible-Equity is -106.57% 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
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