MP Materials Corp. / DE MP

Basic materials SIC 1000 - Metal Mining NAICS Mining, Quarrying, and Oil and Gas Extraction › Mining (except Oil and Gas) › Metal Ore Mining derived NYSE

MP Materials Corp., including its subsidiaries (the "Company," "MP Materials," "we," "our," and "us"), is the largest producer of rare earth materials in the Western Hemisphere. Headquartered in Las Vegas, Nevada, the Company owns and operates the Mountain Pass Rare Earth Mine and Processing Facility ("Mountain Pass") located near Mountain Pass, San Bernardino County, California, the only rare earth mining and processing site of scale in North America. Additionally, the Company owns and operates a rare earth metal, alloy and magnet manufacturing facility in Fort Worth, Texas ("Independence" or the "Independence Facility"), where the Company produces and sells magnetic precursor products and commenced the manufacturing of neodymium-iron-boron ("NdFeB") permanent magnets in December 2025. The Company's operations are organized into two reportable segments: Materials and Magnetics.

Last close 38.30 2026-10-23
Market cap $6.82B 2026-06-30 share count
52-week range 37.11 - 76.80

Valuation FY2025 figures against the last close

P/S30.4x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.50

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $224.4M$203.9M$253.4M$527.5M$332.0M$134.3M$73.0M—
SG&A $112.1M$83.3M$79.2M$75.9M$56.6M$26.8M$11.1M—
Total operating expenses $424.8M$373.3M$271.2M$200.1M$166.6M$169.0M$81.0M—
Operating income -$149.4M-$169.4M-$17.7M$327.4M$165.3M-$34.7M-$7.6M—
Interest expense $31.5M$23.0M$5.3M$5.8M$8.9M$5.0M$3.4M—
Pre-tax income -$117.8M-$93.3M$33.1M$341.2M$160.2M-$39.5M-$6.8M—
Income tax $31.9M$27.9M$8.8M$52.1M$25.2M$17.6M$1.0K—
Net income -$85.9M-$65.4M$24.3M$289.0M$135.0M-$21.8M-$6.8M—
EPS, basic -0.50-0.390.141.640.78-0.27-0.10—
EPS, diluted -0.50-0.570.141.520.73-0.27-0.10—
Shares, diluted (wtd. avg.) 170.1M169.9M178.2M193.5M189.8M79.7M66.6M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $1.17B$282.4M$263.4M$143.5M$1.18B$532.4M$29.6M$28.5M
Short-term investments $664.3M$568.4M$734.5M$1.05B$0———
Receivables $14.6M$18.6M$10.0M$32.9M$51.0M$3.6M$370.0K—
Inventory $171.6M$107.9M$95.2M$57.6M$38.7M$32.3M$23.0M—
Total current assets $2.17B$1.03B$1.13B$1.29B$1.28B$561.0M$27.4M—
Property, plant and equipment $1.37B$1.25B$1.16B$935.7M$610.6M$502.0M$46.4M—
Other intangibles $6.2M$7.4M$8.9M$89.0K————
Total assets $3.86B$2.33B$2.34B$2.24B$1.89B$1.07B$101.8M—
Accounts payable $36.7M$23.6M$28.0M$15.3M$35.7M$16.2M$12.0M—
Short-term debt $67.4M$0——$0$2.4M——
Total current liabilities $299.0M$164.0M$108.5M$97.5M$59.5M$43.1M$31.3M—
Long-term debt $931.3M$908.7M$682.0M$678.4M$674.9M$961.0K——
Total liabilities $1.47B$1.28B$970.7M$925.2M$880.9M$220.4M$119.8M—
Retained earnings $234.4M$320.3M$385.7M$361.4M$72.4M-$62.6M-$40.8M—
Total equity $1.98B$1.05B$1.37B$1.31B$1.01B$853.9M-$18.0M-$11.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow -$155.8M$13.3M$62.7M$343.5M$102.0M$3.3M-$437.0K—
Depreciation and amortisation $89.3M$78.1M$55.7M$18.4M$24.4M$6.9M$4.7M—
Stock-based compensation $30.2M$23.2M$25.2M$31.8M$22.9M$5.0M$0—
Capital expenditure $172.4M$186.4M$261.9M$326.6M$123.9M$22.4M$2.3M—
Investing cash flow -$206.0M$10.1M$68.7M-$1.36B-$119.4M-$22.4M$5.6M—
Financing cash flow $1.25B-$4.8M-$9.9M-$24.2M$666.1M$522.0M-$4.1M—
Buybacks $0$225.1M$0$0————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001801368-26-000020.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M Revenue, FY2019: 73M Net income, FY2019: -6.8M Revenue, FY2020: 134.3M Net income, FY2020: -21.8M Revenue, FY2021: 332M Net income, FY2021: 135M Revenue, FY2022: 527.5M Net income, FY2022: 289M Revenue, FY2023: 253.4M Net income, FY2023: 24.3M Revenue, FY2024: 203.9M Net income, FY2024: -65.4M Revenue, FY2025: 224.4M Net income, FY2025: -85.9M FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $73.0M $134.3M $332.0M $527.5M $253.4M $203.9M $224.4M
Gross profit — — — — — — — —
Net income — -$6.8M -$21.8M $135.0M $289.0M $24.3M -$65.4M -$85.9M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event Item 8.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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