ARGUS
Investment research · fair value
MethodologyRules
Session
2026-09-28 · EOD
OverviewPortfolioRadTech12MedTech16Pharma5Technology6Energy
Technology · Channels2 names
  1. SPCX
    $148.68▲ +0.44%
  2. 688329.SH
    ¥23.37▲ +0.21%
Technology · Channels
2 names
  1. SPCX
    $148.68▲ +0.44%
    Space Exploration Technologies Corp.
  2. 688329.SH
    ¥23.37▲ +0.21%
    Suzhou Ailong Technology
Category overview

Technology

Technology platforms and hardware.

SPCXSpace Exploration Technologies Corp.

Space launch vehicles & satellite broadband (Falcon, Starship, Starlink)

Current Price
$148.68
+0.44%
Estimated Price
n/a
—
Variance
—
vs. price
Two customers account for roughly 38% of Q2 revenue — below the 40% single-customer threshold, so the rule has not fired, but the margin of headroom is thin and management itself names concentration a key watch item. AI Solutions & Infrastructure is ~28% of Q2 revenue, also under threshold. Re-test on the next quarter; a single customer crossing 40% or a credible competitive threat to the AI or launch franchise would escalate this.
688329.SHSuzhou Ailong Technology

Hospital pharmacy-automation systems (intelligent dispensing / smart pharmacy)

Current Price
¥23.37
+0.21%
Estimated Price
¥15.55
DCF
Sep 26, 2026
Variance
-33.32%
vs. price
Price 33% above estimated priceEBIT covers interest only -0.1× — operating profit does not cover the interest bill.capex, D&A, working capital use disclosed defaults rather than this company's own history — its ingested statements do not carry enough years. The rest of the cash-conversion path is derived from its own filings.