MP Materials Corp. / DE (MP)
MP Materials Corp. manages and operates facilities dedicated to the extraction and refinement of rare earth elements. The company's primary asset is the Mountain Pass Rare Earth mine, a key operation situated within the Western Hemisphere. MP Materials holds comprehensive mineral rights for this significant deposit and its surrounding areas, alongside proprietary intellectual property essential for the ongoing processing and technological development of rare earth minerals. Its product offerings include critical elements such as cerium, lanthanum, neodymium, praseodymium, and samarium. Established in 2017, the company is headquartered in Las Vegas, Nevada.
Sector: Metal Mining
Industry: Industrial Materials
MP Materials Corp.
NYSE:MPBasic Materials · Industrial Materials
-0.67%$38.30
AH Close$38.50+0.52%vs close
AH Close$38.50+0.52%vs close
Mkt Cap$6.82B
Float143.03M
O/S178.1M
Inst Own82.5%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$224.44M
Net Income-$85.87M
Total Assets$4.01B
Free Cash Flow-$328.13M
Debt & Equity
Debt 27%
Equity 62%
Preferred 11%
Total Debt$1.04B
Total Equity$2.39B
Preferred Stock$413.61M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in MP's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$4.01B
Liabilities$1.62B
Accounts Receivable$146.68M
Accounts Payable$36.66M
Inventory$171.56M
PP&E (Net)$1.38B
Goodwill$0
Intangible Assets$6.17M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $224.44M | $203.85M | $253.44M | $527.51M | $331.95M | $134.31M | $73.41M | $67.42M |
| YoY Growth | 10.1% | -19.6% | -52.0% | 58.9% | 147.2% | 83.0% | 8.9% | - |
| Cost of Revenue | $282.06M | $270.64M | $148.42M | $110.57M | $100.64M | $70.73M | $67.83M | $57.28M |
| Gross Profit | -$57.62M | -$66.79M | $105.02M | $416.94M | $231.32M | $63.58M | $5.58M | $10.13M |
| Gross Margin | -25.7% | -32.8% | 41.4% | 79.0% | 69.7% | 47.3% | 7.6% | 15.0% |
| Research and Development | $24.21M | $9.31M | $14.93M | $4.25M | $4.2M | $140K | $0 | $0 |
| Selling, General, and Administrative | $112.07M | $83.3M | $79.25M | $75.86M | $56.65M | $26.77M | $11.1M | $14.56M |
| Other | -$48.8M | $10.03M | $28.56M | $9.42M | $5.13M | $71.38M | $2.09M | $4.45M |
| Total Operating Expenses | $87.47M | $102.64M | $122.74M | $89.53M | $65.97M | $98.28M | $13.2M | $19.02M |
| Operating Income (EBIT) | -$145.09M | -$169.43M | -$17.72M | $327.41M | $165.34M | -$34.7M | -$7.62M | -$8.88M |
| Operating Margin | -64.6% | -83.1% | -7.0% | 62.1% | 49.8% | -25.8% | -10.4% | -13.2% |
| Interest Expense | $31.48M | $23.01M | $5.25M | $5.79M | $8.9M | $5.01M | $3.41M | $5.02M |
| Interest Income | $52.02M | $47.11M | $55.64M | $19.83M | $353K | $163K | $461K | $0 |
| Other Income (Expense) | $27.31M | $76.08M | $50.79M | $13.74M | -$5.15M | -$4.76M | $866K | -$4.58M |
| Income Before Tax (EBT) | -$117.77M | -$93.35M | $33.08M | $341.15M | $160.19M | -$39.46M | -$6.75M | -$13.46M |
| Income Tax Expense | -$31.9M | -$27.92M | $8.77M | $52.15M | $25.16M | -$17.64M | $1K | $1K |
| Net Income | -$85.87M | -$65.42M | $24.31M | $289M | $135.04M | -$21.82M | -$6.75M | -$13.47M |
| Net Income Margin | -38.3% | -32.1% | 9.6% | 54.8% | 40.7% | -16.2% | -9.2% | -20.0% |
| Supplementary Data | ||||||||
| EPS | -0.50 | -0.57 | 0.14 | 1.64 | 0.78 | -0.27 | -0.10 | -0.20 |
| Diluted EPS | -0.50 | -0.57 | 0.14 | 1.52 | 0.73 | -0.27 | -0.10 | -0.20 |
| Weighted Average OS | 170.13M | 166.84M | 177.18M | 176.52M | 173.47M | 79.69M | 66.56M | 66.56M |
| EBITDA | $2.97M | $7.72M | $94.04M | $365.29M | $193.48M | -$27.52M | $1.34M | -$4.43M |
| EBITDA Margin | 1.3% | 3.8% | 37.1% | 69.2% | 58.3% | -20.5% | 1.8% | -6.6% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $1.17B | $282.44M | $263.35M | $136.63M | $1.18B | $519.65M | $2.76M | $2.83M |
| Short-Term Investments | $664.27M | $568.43M | $734.49M | $1.05B | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $1.83B | $850.87M | $997.84M | $1.18B | $1.18B | $519.65M | $2.76M | $2.83M |
| Accounts Receivable | $146.68M | $62.34M | $30.16M | $32.86M | $51.01M | $3.59M | $370K | $225K |
| Inventory | $171.56M | $107.91M | $95.18M | $57.55M | $38.69M | $32.27M | $23.05M | $13.47M |
| Other Current Assets | $18.27M | $10.2M | $7.99M | $21.07M | $1.34M | $0 | $0 | $947K |
| Total Current Assets | $2.17B | $1.03B | $1.13B | $1.29B | $1.28B | $561.05M | $27.41M | $17.48M |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $1.38B | $1.26B | $1.17B | $935.84M | $610.61M | $503M | $46.97M | $52.93M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $6.17M | $7.37M | $8.88M | $89K | $0 | $0 | $0 | $0 |
| Long-Term Investments | $538K | $0 | $9.67M | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $145.74M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $308.62M | $34.69M | $18.6M | $8.03M | $2.25M | $10.24M | $27.41M | $25.86M |
| Total Long-Term Assets | $1.84B | $1.3B | $1.21B | $943.96M | $612.86M | $513.24M | $74.39M | $78.79M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $4.01B | $2.33B | $2.34B | $2.24B | $1.89B | $1.07B | $101.79M | $96.27M |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $36.66M | $23.56M | $28M | $15.33M | $35.73M | $16.16M | $0 | $7.79M |
| Short-Term Debt | $74.53M | $0 | $0 | $0 | $16.08M | $24.47M | $4.48M | $5.4M |
| Current Income Tax Payable | $0 | $4.04M | $3.37M | $21.16M | $3.46M | $0 | $0 | $0 |
| Current Unearned Revenue | $74.3M | $56.88M | $0 | $0 | $0 | $0 | $6.61M | $0 |
| Other Current Liabilities | $89.56M | $18.85M | $6.62M | $4.05M | $4.01M | $2.16M | $20.03M | $9.86M |
| Total Current Liabilities | $299.05M | $164.02M | $108.55M | $97.48M | $59.54M | $43.06M | $31.32M | $23.05M |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $960.13M | $908.73M | $681.98M | $678.44M | $674.93M | $45.34M | $13.59M | $15.53M |
| Long-Term Unearned Revenue | $105.99M | $63.21M | $17.43M | $0 | $0 | $0 | $28.93M | $0 |
| Long-Term Deferred Tax Liabilities | $197.3M | $110.81M | $130.79M | $122.35M | $104.5M | $87.47M | $0 | $0 |
| Other Long-Term Liabilities | $46.64M | $26.11M | $25.09M | $26.86M | $41.41M | $43.8M | $45.57M | $68.96M |
| Total Long-Term Liabilities | $1.32B | $1.11B | $862.12M | $827.67M | $821.39M | $177.35M | $88.5M | $84.49M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.62B | $1.28B | $970.67M | $925.15M | $880.93M | $220.41M | $119.82M | $107.54M |
| Stockholders' Equity | ||||||||
| Preferred Stock | $413.61M | $0 | $0 | $0 | $0 | $0 | $0 | $2.27M |
| Common Stock | $19K | $18K | $17K | $18K | $18K | $17K | $7K | $20.5M |
| Retained Earnings | $234.43M | $320.3M | $385.73M | $361.42M | $72.42M | -$62.62M | -$40.8M | -$34.04M |
| Comprehensive Income & Other | $387K | $173K | $145K | $189K | -$0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $2.16B | $734.56M | $980.04M | $951.2M | $936.3M | $916.48M | $22.77M | $2.27M |
| Total Equity | $2.39B | $1.05B | $1.37B | $1.31B | $1.01B | $853.88M | -$18.02M | -$11.27M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $4.01B | $2.33B | $2.34B | $2.24B | $1.89B | $1.07B | $101.79M | $96.27M |
| Supplementary Data | ||||||||
| Total Debt | $1.04B | $914.53M | $688.81M | $678.46M | $691.82M | $70.82M | $18.67M | $20.93M |
| Net Debt | -$122.93M | $632.09M | $425.46M | $541.83M | -$487.48M | -$448.84M | $15.91M | $18.09M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | -$85.87M | -$65.42M | $24.31M | $289M | $135.04M | -$21.82M | -$6.75M | -$13.47M |
| Depreciation & Amortization | $89.27M | $78.06M | $55.71M | $18.36M | $24.38M | $6.93M | $4.69M | $4.45M |
| Deferred Income Tax | -$30.39M | -$27.77M | $8.46M | $17.79M | $17.43M | -$17.79M | $1K | $0 |
| Stock-Based Compensation | $30.16M | $23.18M | $25.24M | $31.78M | $22.93M | $5.01M | $0 | $0 |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | -$106.44M | -$9.34M | $3.52M | $15.95M | -$47.42M | -$3.22M | -$145K | $4.67M |
| Inventory | -$115.02M | -$41.54M | $2.29M | -$24.31M | -$8.23M | -$9.22M | -$9.57M | $4.33M |
| Accounts Payable | $9.39M | $1.33M | $11.3M | $1.96M | $5.53M | -$3.85M | $6.25M | $0 |
| Other Working Capital | $75.86M | $107.76M | -$49.34M | $10.61M | $15.83M | -$21.36M | $5.38M | $2.19M |
| Total Working Capital Change | -$136.2M | $58.21M | -$32.23M | $4.21M | -$34.29M | -$37.65M | $1.91M | $11.19M |
| Other Non-Cash Items | -$22.72M | -$52.9M | -$18.78M | -$17.62M | -$63.52M | $68.6M | -$281K | $18.02M |
| Net Cash from Operating | -$155.75M | $13.35M | $62.7M | $343.51M | $101.97M | $3.28M | -$437K | $20.2M |
| Investing Activities | ||||||||
| Capital Expenditures | -$172.38M | -$186.42M | -$261.9M | -$326.6M | -$123.87M | -$22.37M | -$2.27M | -$7.79M |
| Acquisitions | $0 | $0 | -$9.67M | $0 | $125K | $0 | $7.9M | $0 |
| Purchases of Investments | -$1.82B | -$1.57B | -$1.2B | -$2.78B | $0 | $0 | $0 | $0 |
| Sales of Investments | $1.75B | $1.76B | $1.52B | $1.74B | $0 | $0 | $0 | $0 |
| Other Investing Activities | $37.94M | $96K | $12.49M | $5.13M | $4.38M | $0 | $0 | $1.91M |
| Net Cash from Investing | -$206.05M | $10.06M | $68.7M | -$1.36B | -$119.36M | -$22.37M | $5.62M | -$5.88M |
| Financing Activities | ||||||||
| Debt Repaid | -$55.4M | -$316.37M | $2.73M | $5.83M | -$687.57M | -$18.63M | $4.1M | - |
| Common Stock Issuance | $936.56M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | -$31.1M | -$225.07M | -$7.18M | -$18.36M | -$3.33M | -$996K | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$14.7M | -$96.09M | $0 | $0 | -$18.13M | $504.32M | $0 | -$30.74M |
| Net Cash from Financing | $1.25B | -$4.79M | -$9.92M | -$24.19M | $666.11M | $521.96M | -$4.1M | -$30.74M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $883.76M | $18.61M | $121.48M | -$1.04B | $648.72M | $502.87M | $1.09M | -$16.42M |
| Supplementary Data | ||||||||
| Operating Cash Flow | -$155.75M | $13.35M | $62.7M | $343.51M | $101.97M | $3.28M | -$437K | $20.2M |
| Capital Expenditure | -$172.38M | -$186.42M | -$261.9M | -$326.6M | -$123.87M | -$22.37M | -$2.27M | -$7.79M |
| Free Cash Flow | -$328.13M | -$173.07M | -$199.2M | $16.92M | -$21.9M | -$19.09M | -$2.71M | $12.41M |
| Cash at Beginning | $283.6M | $264.99M | $143.51M | $1.18B | $532.44M | $29.57M | $28.48M | $44.91M |
| Cash at End | $1.17B | $283.6M | $264.99M | $143.51M | $1.18B | $532.44M | $29.57M | $28.48M |