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 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $90.65M | - | $53.55M | $57.39M | $60.81M | - | $62.93M | $31.26M | $48.68M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $33.64M | - | $28.41M | $27.43M | $24.17M | - | $21.52M | $21.43M | $21.27M | - |
| Total Operating Expenses | $157.04M | - | $120.58M | $101.28M | $95.59M | - | $102.47M | $84.75M | $81.12M | - |
| D&A | $32.14M | - | $22.50M | $20.78M | $21.38M | - | $19.34M | $18.21M | $18.39M | - |
| Operating Income | ($24.12M) | - | ($67.02M) | ($43.88M) | ($34.78M) | - | ($39.54M) | ($53.49M) | ($32.43M) | - |
| Interest Expense | $9.85M | - | $8.57M | $5.41M | $7.62M | - | $6.65M | $6.75M | $2.86M | - |
| Income Tax | ($5.67M) | - | ($16.65M) | ($11.85M) | ($4.53M) | - | ($9.35M) | ($14.10M) | $7.14M | - |
| Net Income | ($7.97M) | - | ($41.78M) | ($30.87M) | ($22.65M) | - | ($25.52M) | ($34.05M) | $16.49M | - |
| EPS - Basic | ($0.04) | - | ($0.24) | ($0.19) | ($0.14) | - | ($0.16) | ($0.21) | $0.09 | - |
| EPS - Diluted | ($0.04) | - | ($0.24) | ($0.19) | ($0.14) | - | ($0.16) | ($0.21) | ($0.08) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $886.28M | $1.17B | $1.15B | $261.54M | $198.34M | $282.44M | $284.43M | $295.60M | $296.47M | $263.35M |
| Accounts Receivable | $47.29M | $14.64M | $14.79M | $21.82M | $69.72M | $18.87M | $14.55M | $8.46M | $21.60M | $10.03M |
| Inventory | $169.19M | $171.56M | $144.37M | $128.05M | $133.08M | $107.91M | $116.70M | $115.38M | $108.51M | $95.18M |
| Accounts Payable | $32.99M | $36.66M | $25.38M | $21.73M | $20.87M | $23.56M | $21.71M | $19.75M | $26.14M | $28.00M |
| Current Assets | $2.05B | $2.17B | $2.17B | $960.39M | $1.02B | $1.03B | $1.02B | $1.09B | $1.11B | $1.13B |
| Total Assets | $3.84B | $3.86B | $3.80B | $2.34B | $2.37B | $2.33B | $2.30B | $2.36B | $2.35B | $2.34B |
| Current Liabilities | $285.25M | $299.05M | $270.18M | $266.87M | $248.21M | $164.02M | $146.79M | $158.08M | $107.55M | $108.55M |
| Long-term Debt | $932.94M | $931.33M | $929.75M | $843.37M | $842.41M | $908.73M | $937.63M | $936.61M | $935.59M | $681.98M |
| Total Liabilities | $1.46B | $1.47B | $1.42B | $1.33B | $1.33B | $1.28B | $1.24B | $1.26B | $1.22B | $970.67M |
| Stockholders' Equity | $1.97B | $1.98B | $1.96B | $1.01B | $1.04B | $1.05B | $1.06B | $1.11B | $1.14B | $1.37B |
| Retained Earnings | $226.46M | $234.43M | $225.00M | $266.78M | $297.65M | $320.30M | $342.64M | $368.16M | $402.21M | $385.73M |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($1.91M) | - | - | - | ($63.20M) | - | - | - | ($41.13M) | - |
| Investing Cash Flow | ($259.81M) | - | - | - | ($15.70M) | - | - | - | $40.71M | - |
| Financing Cash Flow | ($18.55M) | - | - | - | ($5.00M) | - | - | - | $32.92M | - |
| CapEx | $77.38M | - | $50.50M | $29.01M | $30.47M | - | - | - | $51.84M | - |
| Free Cash Flow | ($79.28M) | - | - | - | ($93.67M) | - | - | - | ($92.96M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -26.6% | - | -125.2% | -76.5% | -57.2% | - | -62.8% | -171.1% | -66.6% | - |
| EBITDA margin | 8.8% | - | -83.1% | -40.3% | -22.0% | - | -32.1% | -112.9% | -28.9% | - |
| Net margin | -8.8% | - | -78.0% | -53.8% | -37.2% | - | -40.5% | -108.9% | 33.9% | - |
| Free cash flow margin | -87.5% | - | - | - | -154.0% | - | - | - | -191.0% | - |
| FCF / Net income | 9.95 | - | - | - | 4.14 | - | - | - | -5.64 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 37.1% | - | 53.0% | 47.8% | 39.7% | - | 34.2% | 68.6% | 43.7% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | 30.2% | - |
| Return on assets | -0.2% | - | -1.1% | -1.3% | -1.0% | - | -1.1% | -1.4% | 0.7% | - |
| Return on equity | -0.4% | - | -2.1% | -3.1% | -2.2% | - | -2.4% | -3.1% | 1.4% | - |
| Return on invested capital | -0.7% | - | -1.8% | -1.9% | -1.5% | - | -1.6% | -2.1% | -1.1% | - |
| Liquidity | ||||||||||
| Current ratio | 7.18 | 7.24 | 8.05 | 3.60 | 4.12 | 6.29 | 6.93 | 6.90 | 10.29 | 10.42 |
| Quick ratio | 6.58 | 6.67 | 7.51 | 3.12 | 3.58 | 5.63 | 6.13 | 6.17 | 9.28 | 9.54 |
| Cash ratio | 3.11 | 3.90 | 4.25 | 0.98 | 0.80 | 1.72 | 1.94 | 1.87 | 2.76 | 2.43 |
| Leverage | ||||||||||
| Debt / Equity | 0.47 | 0.47 | 0.47 | 0.83 | 0.81 | 0.86 | 0.88 | 0.84 | 0.82 | 0.50 |
| Debt / Assets | 0.24 | 0.24 | 0.24 | 0.36 | 0.36 | 0.39 | 0.41 | 0.40 | 0.40 | 0.29 |
| Debt / EBITDA | 116.40 | - | - | - | - | - | - | - | - | - |
| Interest coverage | -2.4x | - | -7.8x | -8.1x | -4.6x | - | -5.9x | -7.9x | -11.4x | - |
| Equity multiplier | 1.95 | 1.95 | 1.93 | 2.31 | 2.29 | 2.21 | 2.16 | 2.13 | 2.07 | 1.71 |
| Liabilities / Assets | 0.38 | 0.38 | 0.37 | 0.57 | 0.56 | 0.55 | 0.54 | 0.53 | 0.52 | 0.42 |
| Efficiency | ||||||||||
| Asset turnover | 0.02 | - | 0.01 | 0.02 | 0.03 | - | 0.03 | 0.01 | 0.02 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 190d | - | 101d | 139d | 418d | - | 84d | 99d | 162d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 4.4x | - | 6.0x | 5.4x | 3.9x | - | 2.7x | 1.9x | 2.3x | - |
| P / S | 94.8x | - | 219.2x | 95.0x | 65.7x | - | 46.0x | 67.3x | 54.9x | - |
| EV / EBITDA | 1077.7x | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 49.1% | - | -14.9% | 83.6% | 24.9% | - | 19.8% | -51.2% | -49.1% | - |
| Revenue CAGR (3y) | -1.8% | - | -24.5% | -26.3% | -27.8% | - | -13.9% | 0.9% | 32.9% | - |
| Revenue CAGR (5y) | 34.3% | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 30.6% | - | -69.5% | 18.0% | -7.2% | - | -125.5% | - | - | - |
| Net income growth (YoY) | 64.8% | - | -63.7% | 9.3% | - | - | -496.7% | - | -56.0% | - |
| EPS growth (YoY) | 71.4% | - | -50.0% | 9.5% | -75.0% | - | -700.0% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 15.4% | - | - | - | -0.8% | - | - | - | -390.0% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 89.9% | 87.6% | 84.6% | -8.9% | -8.9% | -22.8% | -22.6% | -18.7% | -15.8% | 4.0% |
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%
Peer comparison
Same SIC group: Metal Mining
Comparing MP Materials Corp. / DE against the 5 most active filers in the same SIC group.