@davidflanks: My full SpaceX quarterly analysis available on flankinvesting for free - link in bio. We're also looking for beta testers for our upcoming iOS/android app - if you'd like to help us out, comment "Interested" below :)

NeonPhyzics :

People want this stock to take off because its investors are crypto bros and gamblers. Buy an index fund, pay down debt and if you just have to get a stock buy Apple or Costco.

Steven :

So spacex is literally all a scam.

Sarkans41 :

EBITDA isnt "financial manipulation" its showing earnings from operations since things like depreciation and amortization are not cash entries and interest and taxes are non-operating costs. its makes sense an entity like space X would have a high depreciation and interest expense given the large capitalized infrastructure it needs to maintain...

Matt R :

I hope the next President cancels all the contracts with Musk's companies. All of them are just sponging off the government.

DR.PhukZionists :

Can anyone really believe fascist musk ???

Seven Decker :

but you forgot, crime is legal and Musk will get some fake deal to inflate SpaceX stock

LonS0L0 :

wait until pre ipo stockholders can sell 20% of their stocks on the 10th.

Micah :

And you can be near certain that much of that booked “revenue” is financial manipulation. They’re absolutely booking the full value of extended contracts as current revenue marked to market.

PollyMcPollface :

go GAAP or go home

CrashOverride1984 :

Starlink should be a license to print money

wallopingwizard :

I remember all the same analyses done of Amazon back in the day. When you’re biased, and that bias is ideological, you’ll see anything you wanna see

BigAL :

Only 4 quarters of cash remaining if they keep the same pace of cap ex.

Kcantuar :

Buy the dip. Spacex is the future

86K5 :

It’s a shell game between all Elons companies.

Dane Dryss :

This is like saying you are losing weight when you have gained 50 pounds. Saying you plan to lose 150 pounds does not mean you lost the 100 pounds after gaining 50.

Jorge Desmaras :

This is a Misrepresentation of where value comes from. Future fcf is the value of a firm. Fcf is much closer to adjusted ebitda, yes you are right to say depreciation matters especially for spacex. But a better metric would simply be adjusted ebitda minus capex. True fcf is nopat add back non cash charges and changes in nwc minus capex. That’s fcf bc it allows to take the tax benefits of depreciation which are real and save the company money. At the end of the day both net income and adj ebitda don’t show true cash flow of the firm but id argue adj ebitda is better bc it gives a clean picture of the core operating business’ profitability.

Landon :

They have 0 path to profitability

tikkytokky :

doc :

ty agree

Justin :

The value and magic of SpaceX isn’t bc of where it is today. It’s bc of the promise and excitement to land ppl on the moon and mars. its the promise of traveling across the world in 90 mins in fully reusable rockets. It’s connecting every person on earth for a reasonable price w/ starlink and it’s bc of its growth in ai. These are 10-20 yr + objectives backed by the richest man on earth. SpaceX isn’t going anywhere and yall are just negging the most profitable most successful and most reliable space company on earth today bc you’ve got the icks about a man named musk.

Doug Konopik :

Enron!

Porch Life :

Cool, do apple or any other large cap ticker next. It’s all the same man.

GG :

500 million is pocket change of a loss

jpsoccer :

Use a vertical spread

NotTheAhab :

Doesn’t matter what the Ebidta is, always look at the cash going in and out and on hand. Ebitda isn’t some dark magic computation nor illegal. I agree that there is some serious chicanery going on here though.