Damodaran Values SpaceX at $1.3 Trillion, 28% Below IPO Price

Aswath Damodaran, the NYU professor known as the Dean of Valuation, calculated SpaceX is worth $1.3 trillion, 28% less than its $1.8 trillion IPO price. His analysis of the S-1 filing found the company remains cash-flow negative with heavy capital expenditures. Revenue grew 33% in 2025, driven by Starlink subscriber growth.