Forget the SpaceX IPO: 3 Rock-Solid Dividend Stocks to Build Your Portfolio Around

SpaceX (NASDAQ: SPCX), the aerospace and AI company founded by Elon Musk, went public at $135 per share on June 12. It opened at $150 and now trades at $180, giving it a market cap of $2.1 trillion and making it the world's sixth-most-valuable company.

But at that valuation, SpaceX trades at 113 times its 2025 revenue of $18.7 billion. It's also unprofitable, since the losses at its space division and newly integrated AI division (which includes xAI and X) are completely erasing Starlink's profits. Therefore, I wouldn't touch SpaceX's stock until the hype dies down and it cools to more reasonable valuations.

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Instead, I'd continue to accumulate rock-solid dividend stocks that will generate consistent income even if the next market crash wipes out high-flying stocks like SpaceX. These three stocks make the cut: Realty Income (NYSE: O), The Williams Companies (NYSE: WMB), and Philip Morris International (NYSE: PM).

Realty Income

Realty Income, which owns more than 15,500 commercial properties, is one of the world's largest real estate investment trusts (REITs). It primarily leases its properties to recession-resistant businesses, such as convenience stores, drugstores, and discount retailers.

It's maintained an occupancy rate above 96% since its IPO in 1994. As an REIT, it must distribute at least 90% of its taxable income to its investors as dividends, and it pays monthly dividends instead of quarterly ones. It's raised its payout 135 times since its public debut, and it currently pays a forward dividend yield of 5.2%.

Its adjusted funds from operations (AFFO) per share (which REITs use to gauge their profitability) rose by 2% in 2025. It expects that figure to grow abother 3%-4% to $4.41-$4.44 per share in 2026 to cover its forward dividend rate of $3.25 per share. Its stock trades at just 14 times that earnings estimate, making it a cheap dividend play in this frothy market.

The Williams Companies

Williams is a midstream company that operates more than 33,000 miles of pipeline in the United States. Unlike other pipeline companies, which often transport a mix of natural gas, crude oil, and other resources, Williams primarily handles natural gas through its Transco pipeline that runs from Texas to the Eastern Seaboard.

Williams handles roughly 30% of the country's natural gas production, putting it in a prime position to profit from the growth of the power-hungry AI, cloud, and data center markets. It's so building "behind the meter" (BTM) sites at data centers to provide hyperscalers with a stable flow of natural gas while bypassing traditional utilities. As a pipeline operator, it's well-insulated from volatile commodity prices because it merely collects "tolls" for using its infrastructure.

Analysts expect Williams' EPS to grow 13% to $2.38 this year, which will cover its forward dividend rate of $2.10 per share. That's a 2.9% yield, and it's raised its payout annually for 10 consecutive years. It also still looks like a bargain at 15 times this year's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).

Philip Morris International

Philip Morris International, which was spun off from Altria (NYSE: MO) in 2008, is one of the world's largest tobacco companies. It generates nearly all of its revenue overseas, while Altria remains in the U.S. market. Both companies own Marlboro, the world's top cigarette brand.

PMI, like Altria, is grappling with declining smoking rates. To offset that pressure, it consistently raises its cigarette prices and cuts costs. It's also expanding its portfolio of smoke-free products -- including its iQOS heated tobacco products, e-cigarettes, and its Zyn nicotine pouches -- to reduce its long-term dependence on cigarettes. In 2025, its sales of smoke-free products rose 14% organically and accounted for nearly 43% of its top line.

That's why it's still a reliable long-term investment. Analysts expect its adjusted EPS to grow 12% to $8.42 in 2026, comfortably covering its forward dividend rate of $5.88 per share. That equals a forward yield of 3.2%. It's raised its payout every year since its spin-off from Altria, and it still looks reasonably valued at 22 times forward earnings.

Leo Sun has positions in Altria Group, Realty Income, and Williams Companies. The Motley Fool has positions in and recommends Realty Income. The Motley Fool recommends Philip Morris International. The Motley Fool has a disclosure policy.