Valuing companies is not just about "numbers"; it's a bet on the future. And this is what SpaceX's valuation tells us.

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SpaceX (SpaceX) today is not measured by traditional airline metrics,
but is treated as a tech giant with the keys to space infrastructure.

Expectations indicate that the company could reach revenues of nearly $24 billion by 2026.

What's interesting here is not the number itself, but the "quality" of these revenues;
the true growth engine is no longer just rocket launches (Launch), which account for about $4.8 billion,

but "Starlink" (Starlink), which is expected to take the lion's share with $18.7 billion.
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This shift from a launch service company to a global, cross-border telecommunications company justifies the high valuations.

With a valuation of $1.5 trillion,
the P/S ratio (P/S) reaches 62.5.

Although this number may seem astronomical, it places SpaceX in a middle ground when compared to other space companies;

it's lower than (RKLB), which has a ratio of 85,
and much higher than companies like (PL) or (RDW).
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The biggest bet lies in the customer base.
Expectations are to double the number of Starlink service subscribers to reach 18.4 million customers by 2026,
after years of rapid growth at 100% annually.

We are not talking here about a rocket company, but about a digital nervous system covering the planet from space.
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The lesson for the smart investor:
Value does not come from "what the company does today,"
but from the "competitive moat" it builds for the future.

SpaceX is building a technological monopoly that makes it difficult for any competitor to catch up,

and this is the difference between investing in a "product" and investing in an "integrated ecosystem."
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Do you think the growth of the space telecommunications sector will change the face of the traditional internet we know,

or are current valuations ahead of reality by several steps?

Share your opinions in the comments.