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SPCX trades at 204x forward PE while analysts target $214.57, as Starshield drove Enterprise & Government revenue up 108% year-over-year.
Britain's MoD became the first non-U.S. government to publicly confirm Starshield use, potentially giving allied nations cover to follow and expand SpaceX's export market.
SpaceX posted a $541 million net loss on $18 billion in capex, making Starshield's $6 billion contract base critical to justifying its valuation.
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