Space Exploration Technologies Corp. (SPCX) exhibits 62.0% gross margins and 58.3% return on invested capital within Technology (Computer Software: Programming Data Processing), balanced against a 14.3x enterprise multiple and 8.1% implied options volatility.
Sustained 62.0% gross profitability converts into 21.1% operating margin and 58.3% ROIC, outpacing sector cost of capital.
ROIC: 58.3% // GM: 62.0%YoY revenue trajectory of +20.9% paired with 3.99% free cash flow yield supports self-funded R&D and capital return.
REV YOY: +20.9% // FCF YLD: 3.99%Altman Z-Score of 26.00 and Piotroski F-Score of 7/9 indicate low near-term refinancing stress.
ALTMAN Z: 26.00 // F-SCORE: 7/9Trading at 21.7x trailing P/E (18.2x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 21.7x // EV/EBITDA: 14.3xOptions market prices a ±8.1% implied move with a 0.79 put/call ratio around $141.00 max pain.
IMPL MOVE: ±8.1% // P/C: 0.79Elevated industry capital intensity and customer concentration in Computer Software: Programming Data Processing require continuous execution to defend 16.4% net margins.
NET MARGIN: 16.4% // D/E: 8.28x| FILER | SIDE | $ VALUE |
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