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Story summary
- SpaceX trades at about 97 times sales and 28 times forward earnings despite a $4.9 billion loss, while Amazon trades near 3 times earnings.
- SpaceX posted $18.7 billion revenue and a $2.6 billion operating loss for 2025.
- Starlink generated $11.4 billion revenue and grew 50% year-over-year.
- AWS earned $128.7 billion cloud revenue and $45.6 billion operating income in 2025.
- FactSet expects SpaceX to raise about $250 billion in debt over four years.
