Is SpaceX worth $1.5 trillion? A data-driven analysis

Private capital market leaders are redefining scale before ever reaching the public markets. For allocators, that shift demands structured analysis grounded in data—not speculation. PitchBook’s Late-Stage Company Research provides in-depth coverage of SpaceX, examining growth across its launch and satellite businesses, potential for margin expansion, and long-term risks. Built on a granular bottom-up model covering 165 launches, 9.2 million Starlink subscribers, and more than 600 historical missions, the report projects performance through 2040—including a $150 billion revenue scenario—and frames it against the rumored $1.5 trillion IPO valuation.