According to a recent Bloomberg broadcast, SpaceX is now valued at about $350 billion (€336.2bn). This value has been suggested to split with the Starlink broadband system representing about 65 per cent of SpaceX’s valuation at $227.5 billion and the rocket launch side of the business accounting for 35 per cent at $122.5 billion.
SpaceX is privately held and does not issue detailed breakdowns of its revenues. However, today, Starlink accounts for about 60 per cent of SpaceX’s total revenues and 75 per cent of its total EBITDA. Investment bank analysis from Morgan Stanley expects Starlink to trend closer to 75-80 per cent of total revenue and profitability in the longer term.
The recent ‘Tender Offer’ made by SpaceX of shares priced at $185 per share is where the $350 billion valuation was determined and resulted in making SpaceX the world’s most valuable private company. The $185 per share is well ahead of the $112 per share achieved in the previous cash-raising round.
There have been mixed messages from Elon Musk on the prospects of mounting an Initial Public Offering (IPO) for either SpaceX or its Starlink division. The current position from Musk is that he has given “no thought” to an IPO.