MP · Mp Materials Corp. / De - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $224.44M | $203.85M | $253.44M | $527.51M | $328.56M | $134.31M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $112.07M | $83.30M | $79.25M | $26.77M | $57.22M | $27.01M |
| Total Operating Expenses | $424.83M | $373.28M | $271.16M | $200.10M | $166.61M | $169.01M |
| D&A | $89.27M | $78.06M | $55.71M | $18.36M | $24.38M | $6.93M |
| Operating Income | ($149.37M) | ($169.43M) | ($17.72M) | $327.41M | $165.34M | ($34.70M) |
| Interest Expense | $31.48M | $23.40M | $5.25M | $5.79M | $8.90M | $5.01M |
| Income Tax | ($31.90M) | ($27.92M) | $8.77M | $52.15M | $25.16M | ($17.64M) |
| Net Income | ($85.87M) | ($65.42M) | $24.31M | $289.00M | $135.04M | ($21.82M) |
| EPS - Basic | ($0.50) | ($0.39) | $0.14 | $1.64 | ($0.27) | - |
| EPS - Diluted | ($0.50) | ($0.57) | $0.14 | $1.52 | ($0.27) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.17B | $282.44M | $263.35M | $136.63M | $1.18B | $519.65M |
| Accounts Receivable | $14.64M | $18.87M | $10.03M | $32.86M | $51.01M | $370.0K |
| Inventory | $171.56M | $107.91M | $95.18M | $57.55M | $38.69M | $32.27M |
| Accounts Payable | $36.66M | $23.56M | $28.00M | - | - | - |
| Current Assets | $2.17B | $1.03B | $1.13B | $1.29B | $1.28B | $27.41M |
| Total Assets | $3.86B | $2.33B | $2.34B | $2.24B | $1.89B | $101.79M |
| Current Liabilities | $299.05M | $164.02M | $108.55M | $97.48M | $59.54M | $43.06M |
| Long-term Debt | $931.33M | $908.73M | $681.98M | $678.44M | $674.93M | - |
| Total Liabilities | $1.47B | $1.28B | $970.67M | $925.15M | $880.93M | $220.41M |
| Stockholders' Equity | $1.98B | $1.05B | $1.37B | $1.31B | $1.01B | ($18.02M) |
| Retained Earnings | $234.43M | $320.30M | $385.73M | $361.42M | $72.42M | ($62.62M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($155.75M) | $13.35M | $62.70M | $343.51M | $101.97M | $3.28M |
| Investing Cash Flow | ($206.05M) | $10.06M | $68.70M | ($1.36B) | ($119.36M) | ($22.37M) |
| Financing Cash Flow | $1.25B | ($4.79M) | ($9.92M) | ($24.19M) | $666.11M | $521.96M |
| CapEx | $172.38M | $186.42M | $261.90M | $326.60M | $123.87M | $22.37M |
| Free Cash Flow | ($328.13M) | ($173.07M) | ($199.20M) | $16.92M | ($21.90M) | ($19.09M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | -66.6% | -83.1% | -7.0% | 62.1% | 50.3% | -25.8% |
| EBITDA margin | -26.8% | -44.8% | 15.0% | 65.5% | 57.7% | -20.7% |
| Net margin | -38.3% | -32.1% | 9.6% | 54.8% | 41.1% | -16.2% |
| Free cash flow margin | -146.2% | -84.9% | -78.6% | 3.2% | -6.7% | -14.2% |
| FCF / Net income | 3.82 | 2.65 | -8.20 | 0.06 | -0.16 | 0.87 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 49.9% | 40.9% | 31.3% | 5.1% | 17.4% | 20.1% |
| Effective tax rate | - | - | 26.5% | 15.3% | 15.7% | - |
| Return on assets | -2.2% | -2.8% | 1.0% | 12.9% | 7.1% | -21.4% |
| Return on equity | -4.3% | -6.2% | 1.8% | 22.0% | 13.4% | 121.1% |
| Return on invested capital | -4.1% | -6.8% | -0.6% | 13.9% | 8.3% | - |
| Liquidity | ||||||
| Current ratio | 7.24 | 6.29 | 10.42 | 13.27 | 21.44 | 0.64 |
| Quick ratio | 6.67 | 5.63 | 9.54 | 12.68 | 20.79 | -0.11 |
| Cash ratio | 3.90 | 1.72 | 2.43 | 1.40 | 19.81 | 12.07 |
| Leverage | ||||||
| Debt / Equity | 0.47 | 0.86 | 0.50 | 0.52 | 0.67 | - |
| Debt / Assets | 0.24 | 0.39 | 0.29 | 0.30 | 0.36 | - |
| Debt / EBITDA | - | - | 17.95 | 1.96 | 3.56 | - |
| Interest coverage | -4.7x | -7.2x | -3.4x | 56.6x | 18.6x | -6.9x |
| Equity multiplier | 1.95 | 2.21 | 1.71 | 1.70 | 1.87 | -5.65 |
| Liabilities / Assets | 0.38 | 0.55 | 0.42 | 0.41 | 0.47 | 2.17 |
| Efficiency | ||||||
| Asset turnover | 0.06 | 0.09 | 0.11 | 0.24 | 0.17 | 1.32 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 24d | 34d | 14d | 23d | 57d | 1d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | 141.8x | 16.0x | - | - |
| P / B | 4.3x | 2.5x | 2.6x | 3.6x | 3.6x | - |
| P / S | 38.3x | 13.0x | 14.0x | 8.9x | 11.0x | - |
| EV / EBITDA | - | - | 104.1x | 15.2x | 16.4x | - |
| Growth | ||||||
| Revenue growth (YoY) | 10.1% | -19.6% | -52.0% | 60.6% | 144.6% | - |
| Revenue CAGR (3y) | -24.8% | -14.7% | 23.6% | - | - | - |
| Revenue CAGR (5y) | 10.8% | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 11.8% | -856.2% | - | 98.0% | - | - |
| Net income growth (YoY) | -31.3% | - | -91.6% | 114.0% | - | - |
| EPS growth (YoY) | 12.3% | - | -90.8% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -89.6% | 13.1% | - | - | -14.7% | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 87.6% | -22.8% | 4.0% | 30.1% | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$227.23M totalMaterials Segment$160.37M · 70.6%
Magnetics Segment$66.86M · 29.4%
Product / service
$294.13M totalNd Pr Oxide And Metal$115.13M · 39.1%
Revenue Under Bill And Hold Arrangement$66.90M · 22.7%
Magnetic Precursor Products$66.86M · 22.7%
Rare Earth Concentrate$41.99M · 14.3%
Other Revenue$3.25M · 1.1%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
0.90
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✗Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Metal Mining
Comparing MP Materials Corp. / DE against the 5 most active filers in the same SIC group.