u/slackerstuff ·
Reddit — r/investing
· May 15, 2026 at 15:55
· ⬆ 22 pts
· 💬 78 comments
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I’m trying to wrap my head around SpaceX as an eventual public company.
The company is obviously viable, so this isn’t really a “is SpaceX good?” question ut’s more: if it came public around $1T–$1.5T, what would the actual earnings power need to look like?
Starlink seems like the main driver. Launch is dominant, but I’m not sure the launch market alone can carry that kind of valuation. Defense/government work helps, but probably doesn’t deserve some crazy multiple by itself.
So what would you need to believe?
Is this basically a bet that Starlink becomes a huge high-margin broadband business? Or is there another piece of the valuation I’m underrating?