SpaceX has hints of monopoly, has shown consistent innovation, and has an ambitious long term vision. Boeing lacks all of the above, so it's apples and oranges

> 800b valuation on 13b of revenue in 2024. That's a 61x multiple

From about $9bn in 2023. 40%+ growth yields a PRG ratio (modified PEG [1]) of about 1.5x.

Boeing managed to increase its revenue in 2025 about 10%, putting its similar ratio at around 0.2x. SpaceX trading around 7x where Boeing trades doesn't strike me, at first glance, as unreasonable.

[1] https://www.investopedia.com/terms/p/pegratio.asp

I think the era where a company’s valuation is defined by its fundamentals is firmly behind us.