Morgan Stanley wants investors to believe SpaceX will be worth more than the current GDP of the United Kingdom by 2040. The investment bank’s analysts project SpaceX’s revenue hitting $3.4 trillion with adjusted EBITDA surpassing $2.7 trillion, numbers that would make the company one of the most profitable enterprises in human history.
Here’s the thing: SpaceX pulled in $18.7 billion in revenue for 2025. Getting to $3.4 trillion means roughly 180x growth in 15 years.
The IPO that could break records
The projections were shared with investors on June 5, 2026, as part of SpaceX’s IPO roadshow. Morgan Stanley is serving as a co-lead underwriter for the offering, which is targeting a valuation of approximately $1.77 trillion.
The company plans to list on Nasdaq under the ticker SPCX. The roadshow is aimed at raising roughly $75 billion from public markets.
