MISSION CONTROLSPCX-TRACKER · CONSOLE 01
UTC 0000-00-00 00:00:00.000 UTCMET T+000/00:00:00
TELEMETRYLINK 100%S-1 FEEDEDGAR 2026-05-20MKT FEEDPRE-IPO HOLDRANGENYSE/NASDAQGUIDANCEAUTO
· SPCX S-1 FILED 2026-05-20 · NASDAQ TICKER LOCKED ·· FY25 REVENUE $18.7B · ADJ EBITDA $6.0B ·· VALUATION RANGE $1.75T – $2.00T ·· ROADSHOW WEEK OF 2026-06-08 ·· TRADING OPEN T-MINUS COUNTDOWN ACTIVE ·· STARLINK ACTIVE USERS 8.1M ·· STARSHIELD CONTRACTS · DOD/NRO ·· FALCON 9 LAUNCH CADENCE: 144/YR ·· XAI GROK-5 TRAINING RUN ACTIVE ·· TESLA OPTIMUS V3 SHIPMENTS RAMPING ·· X PLATFORM DAU 256M ·· SPCX S-1 FILED 2026-05-20 · NASDAQ TICKER LOCKED ·· FY25 REVENUE $18.7B · ADJ EBITDA $6.0B ·· VALUATION RANGE $1.75T – $2.00T ·· ROADSHOW WEEK OF 2026-06-08 ·· TRADING OPEN T-MINUS COUNTDOWN ACTIVE ·· STARLINK ACTIVE USERS 8.1M ·· STARSHIELD CONTRACTS · DOD/NRO ·· FALCON 9 LAUNCH CADENCE: 144/YR ·· XAI GROK-5 TRAINING RUN ACTIVE ·· TESLA OPTIMUS V3 SHIPMENTS RAMPING ·· X PLATFORM DAU 256M ·
VAL-001 · VALUATION COMPSSPCX RANK #7 GLOBAL

At the midpoint of its S-1 range ($1.875T), SPCX prints as the #7 most valuable publicly-traded company on day one — ahead of Berkshire, Tesla, and TSMC, behind only the Magnificent Seven mega-caps. On revenue multiple (100x), it lands closer to Tesla (~12x) and Nvidia (~33x) than to traditional aerospace (1.5–3x).

GLOBAL TOP 12 · BY MARKET CAP
NVDA
NVIDIA
$4.25T
32.7x REV
AAPL
Apple
$3.85T
10.0x REV
MSFT
Microsoft
$3.70T
14.2x REV
GOOGL
Alphabet
$2.70T
7.5x REV
AMZN
Amazon
$2.35T
3.8x REV
META
Meta Platforms
$1.95T
11.8x REV
SPCX
SpaceX (IPO range MID)
S-1 range $1.75T – $2.00T
$1.88T
100.3x REV
TSLA
Tesla
$1.30T
11.8x REV
BRK.B
Berkshire Hathaway
$1.10T
2.9x REV
TSM
Taiwan Semiconductor
$1.05T
11.1x REV
AVGO
Broadcom
$980B
16.3x REV

Snapshot — public mkt cap values are point-in-time references. SPCX is the S-1 implied midpoint.

AEROSPACE & DEFENSE PEERS · AD-001..07
RTX
RTX
$165B
2.0x REV
BA
Boeing
Distressed comp
$145B
1.9x REV
AIR.PA
Airbus
$145B
1.9x REV
LMT
Lockheed Martin
$110B
1.5x REV
NOC
Northrop Grumman
$85.0B
2.0x REV
GD
General Dynamics
$80.0B
1.7x REV
RKLB
Rocket Lab
$12.0B
21.8x REV

All A&D peers combined are smaller than the midpoint SPCX valuation alone.

MEGA-IPO PRECEDENTS · IPO-001..05
BABA-14
Alibaba IPO (2014)
$25B raised · $231B (largest ever at the time)
$231B
18.8x REV
META-08
Facebook IPO (2012)
$1B raised · $104B market cap
$104B
26.0x REV
ARM-23
Arm IPO (2023)
$4.9B raised · second-largest of 2023
$60.0B
22.2x REV
GOOG-04
Google IPO (2004)
$1.67B raised · $23B market cap
$23.0B
7.2x REV
AMZN-97
Amazon IPO (1997)
$54M raised · $438M market cap
$0.44B
2.9x REV

Day-one mkt cap shown. Alibaba (2014) was the largest mega-IPO until SPCX is expected to top it.

MULTIPLE ANALYSIS · MUL-001
SPCX VALUATIONPRICE / FY25 REV ($18.7B)PRICE / FY25 EBITDA ($6.0B)PRICE / Q1 26 ANNUALIZED ($18.8B)SECTOR BENCHMARK
S-1 LOW · $1.75T94x292x93xPEAK NVDA TERRITORY
S-1 MID · $1.875T100x313x100xREQUIRES STARLINK GEN3 + STARSHIP ACCRETION
S-1 HIGH · $2.00T107x333x106xREQUIRES STARLINK GEN3 + STARSHIP ACCRETION
BULL CASE · $2.5T134x417x133xREQUIRES STARLINK GEN3 + STARSHIP ACCRETION