MP Materials Corp. (MP) 10-Year Financial Performance & Capital Metrics

MP • • Industrial / General

Basic MaterialsIndustrial MaterialsBattery Metals & Critical MineralsRare Earth & Specialty Battery Metals

AboutMP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals. It offers cerium, lanthanum, neodymium, praseodymium, and samarium. The company was founded in 2017 and is headquartered in Las Vegas, Nevada.Show more

Revenue $204M -19.6%
EBITDA -$91M -340.5%
Net Income -$65M -369.2%
EPS (Diluted) -0.57 -507.1%
Gross Margin -32.76% -179.1%
EBITDA Margin -44.82% -399.0%
Operating Margin -83.11% -1088.8%
Net Margin -32.09% -434.6%
ROE -5.41% -397.8%
ROIC -7.31% -902.3%
Debt/Equity 0.87 +71.9%
Interest Coverage -7.36 -118.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 90 (top 10%)
✓Strong 5Y sales CAGR of 22.7%
✓Share count reduced 4.6% through buybacks
✓Healthy 5Y average net margin of 11.3%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Trading more than 30% below 52-week high
✗Expensive at 10.7x book value
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y22.66%

3Y-15%

TTM26.44%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-98.25%

EPS CAGR

10Y-

5Y-

3Y-

TTM-30.97%

ROCE

10Y Avg-1.36%

5Y Avg2.65%

3Y Avg2.66%

Latest-7.71%

Peer Comparison

Rare Earth & Specialty Battery Metals

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
USARUSA Rare Earth Inc	2.34B	16.79	180.15			0.37%	1.47
ELBMElectra Battery Materials Corporation	83.35M	0.89	-0.43			-55.75%	1.12
ABATAmerican Battery Technology Company Common Stock	632.3M	4.87	-4.77		-32.31%	-91.5%	0.11
LZMLifezone Metals Limited	475.89M	5.68	-9.63	-90.49%	-276.31%	-387.04%	0.28
NBNioCorp Developments Ltd.	759.13M	6.36	-17.67			-38.32%	0.00
TMCTMC the metals company Inc.	3.05B	7.38	-29.52
IPXIperionX Limited	1.57B	46.73	-38.94			-38.25%	0.04
MPMP Materials Corp.	11.82B	66.70	-117.02	-19.57%	-50.55%	-4.95%	0.87

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	67.42M	73.41M	134.31M	331.95M	527.51M	253.44M	203.85M
Revenue Growth %	-	0.09%	0.83%	1.47%	0.59%	-0.52%	-0.2%
Cost of Goods Sold+	57.28M	67.83M	70.73M	100.64M	110.57M	148.42M	270.64M
COGS % of Revenue	0.85%	0.92%	0.53%	0.3%	0.21%	0.59%	1.33%
Gross Profit+	10.13M	5.58M	63.58M	231.32M	416.94M	105.02M	-66.79M
Gross Margin %	0.15%	0.08%	0.47%	0.7%	0.79%	0.41%	-0.33%
Gross Profit Growth %	-	-0.45%	10.4%	2.64%	0.8%	-0.75%	-1.64%
Operating Expenses+	19.02M	13.2M	98.28M	65.97M	89.53M	122.74M	102.64M
OpEx % of Revenue	0.28%	0.18%	0.73%	0.2%	0.17%	0.48%	0.5%
Selling, General & Admin	14.56M	11.1M	26.77M	56.65M	75.86M	79.25M	83.3M
SG&A % of Revenue	0.22%	0.15%	0.2%	0.17%	0.14%	0.31%	0.41%
Research & Development	0	0	140K	4.2M	4.25M	14.93M	9.31M
R&D % of Revenue	-	-	0%	0.01%	0.01%	0.06%	0.05%
Other Operating Expenses	4.45M	2.09M	71.38M	5.13M	9.42M	28.56M	10.03M
Operating Income+	-8.88M	-7.62M	-34.7M	165.34M	327.41M	-17.72M	-169.43M
Operating Margin %	-0.13%	-0.1%	-0.26%	0.5%	0.62%	-0.07%	-0.83%
Operating Income Growth %	-	0.14%	-3.55%	5.76%	0.98%	-1.05%	-8.56%
EBITDA+	-4.43M	-2.93M	-27.77M	189.73M	345.77M	37.99M	-91.37M
EBITDA Margin %	-0.07%	-0.04%	-0.21%	0.57%	0.66%	0.15%	-0.45%
EBITDA Growth %	-	0.34%	-8.47%	7.83%	0.82%	-0.89%	-3.41%
D&A (Non-Cash Add-back)	4.45M	4.69M	6.93M	24.38M	18.36M	55.71M	78.06M
EBIT	-8.88M	-3.34M	-34.45M	169.1M	346.94M	38.33M	-70.34M
Net Interest Income+	-5.02M	-2.95M	-4.85M	-8.55M	14.04M	50.38M	24.1M
Interest Income	0	461K	163K	353K	19.83M	55.64M	47.11M
Interest Expense	5.02M	3.41M	5.01M	8.9M	5.79M	5.25M	23.01M
Other Income/Expense	-4.58M	866K	-4.76M	-5.15M	13.74M	50.79M	76.08M
Pretax Income+	-13.46M	-6.75M	-39.46M	160.19M	341.15M	33.08M	-93.35M
Pretax Margin %	-0.2%	-0.09%	-0.29%	0.48%	0.65%	0.13%	-0.46%
Income Tax+	1K	1K	-17.64M	25.16M	52.15M	8.77M	-27.92M
Effective Tax Rate %	1%	1%	0.55%	0.84%	0.85%	0.73%	0.7%
Net Income+	-13.47M	-6.75M	-21.82M	135.04M	289M	24.31M	-65.42M
Net Margin %	-0.2%	-0.09%	-0.16%	0.41%	0.55%	0.1%	-0.32%
Net Income Growth %	-	0.5%	-2.23%	7.19%	1.14%	-0.92%	-3.69%
Net Income (Continuing)	-13.47M	-6.75M	-21.82M	135.04M	289M	24.31M	-65.42M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0
EPS (Diluted)+	-0.20	-0.10	-0.27	0.73	1.52	0.14	-0.57
EPS Growth %	-	0.51%	-1.75%	3.7%	1.08%	-0.91%	-5.07%
EPS (Basic)	-0.20	-0.10	-0.27	0.78	1.64	0.14	-0.57
Diluted Shares Outstanding	68.88M	68.88M	79.69M	189.84M	193.45M	178.15M	169.88M
Basic Shares Outstanding	66.56M	66.56M	79.69M	173.47M	176.52M	177.18M	166.84M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	17.48M	27.41M	561.05M	1.28B	1.29B	1.13B	1.03B
Cash & Short-Term Investments	2.83M	2.76M	519.65M	1.18B	1.18B	997.84M	850.87M
Cash Only	2.83M	2.76M	519.65M	1.18B	136.63M	263.35M	282.44M
Short-Term Investments	0	0	0	0	1.05B	734.49M	568.43M
Accounts Receivable	225K	370K	3.59M	51.01M	32.86M	30.16M	62.34M
Days Sales Outstanding	1.22	1.84	9.75	56.09	22.73	43.44	111.63
Inventory	13.47M	23.05M	32.27M	38.69M	57.55M	95.18M	107.91M
Days Inventory Outstanding	85.85	124.02	166.54	140.33	189.98	234.07	145.53
Other Current Assets	947K	0	0	0	21.07M	7.99M	10.2M
Total Non-Current Assets+	78.79M	74.39M	513.24M	612.86M	943.96M	1.21B	1.3B
Property, Plant & Equipment	52.93M	46.97M	503M	610.61M	935.84M	1.17B	1.26B
Fixed Asset Turnover	1.27x	1.56x	0.27x	0.54x	0.56x	0.22x	0.16x
Goodwill	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	89K	8.88M	7.37M
Long-Term Investments	0	0	0	0	0	9.67M	0
Other Non-Current Assets	25.86M	27.41M	10.24M	2.25M	8.03M	18.6M	34.69M
Total Assets+	96.27M	101.79M	1.07B	1.89B	2.24B	2.34B	2.33B
Asset Turnover	0.70x	0.72x	0.13x	0.18x	0.24x	0.11x	0.09x
Asset Growth %	-	0.06%	9.55%	0.76%	0.18%	0.04%	-0%
Total Current Liabilities+	23.05M	31.32M	43.06M	59.54M	97.48M	108.55M	164.02M
Accounts Payable	7.79M	0	16.16M	35.73M	15.33M	28M	23.56M
Days Payables Outstanding	49.64	-	83.39	129.61	50.59	68.84	31.78
Short-Term Debt	5.4M	4.48M	24.47M	16.08M	0	0	0
Deferred Revenue (Current)	0	1000K	0	0	0	0	1000K
Other Current Liabilities	9.86M	20.03M	2.16M	4.01M	4.05M	6.62M	18.85M
Current Ratio	0.76x	0.88x	13.03x	21.44x	13.27x	10.42x	6.29x
Quick Ratio	0.17x	0.14x	12.28x	20.79x	12.68x	9.54x	5.63x
Cash Conversion Cycle	37.44	-	92.91	66.82	162.13	208.66	225.38
Total Non-Current Liabilities+	84.49M	88.5M	177.35M	821.39M	827.67M	862.12M	1.11B
Long-Term Debt	15.53M	13.59M	45.34M	674.93M	678.44M	681.98M	908.73M
Capital Lease Obligations	0	399K	736K	554K	15K	6.83M	5.8M
Deferred Tax Liabilities	0	0	87.47M	104.5M	122.35M	130.79M	110.81M
Other Non-Current Liabilities	68.96M	45.57M	43.8M	41.41M	26.86M	25.09M	26.11M
Total Liabilities	107.54M	119.82M	220.41M	880.93M	925.15M	970.67M	1.28B
Total Debt+	20.93M	18.67M	70.82M	691.82M	678.46M	688.81M	914.53M
Net Debt	18.09M	15.91M	-448.84M	-487.48M	541.83M	425.46M	632.09M
Debt / Equity	-	-	0.08x	0.69x	0.52x	0.50x	0.87x
Debt / EBITDA	-	-	-	3.65x	1.96x	18.13x	-
Net Debt / EBITDA	-	-	-	-2.57x	1.57x	11.20x	-
Interest Coverage	-1.77x	-2.23x	-6.93x	18.57x	56.59x	-3.37x	-7.36x
Total Equity+	-11.27M	-18.02M	853.88M	1.01B	1.31B	1.37B	1.05B
Equity Growth %	-	-0.6%	48.38%	0.18%	0.3%	0.04%	-0.23%
Book Value per Share	-0.16	-0.26	10.71	5.31	6.79	7.67	6.21
Total Shareholders' Equity	-11.27M	-18.02M	853.88M	1.01B	1.31B	1.37B	1.05B
Common Stock	20.5M	7K	17K	18K	18K	17K	18K
Retained Earnings	-34.04M	-40.8M	-62.62M	72.42M	361.42M	385.73M	320.3M
Treasury Stock	0	0	0	0	0	0	-227.05M
Accumulated OCI	0	0	0	0	189K	145K	173K
Minority Interest	0	0	0	0	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	20.2M	-437K	3.28M	101.97M	343.51M	62.7M	13.35M
Operating CF Margin %	0.3%	-0.01%	0.02%	0.31%	0.65%	0.25%	0.07%
Operating CF Growth %	-	-1.02%	8.5%	30.12%	2.37%	-0.82%	-0.79%
Net Income	-13.47M	-6.75M	-21.82M	135.04M	289M	24.31M	-65.42M
Depreciation & Amortization	4.45M	4.69M	6.93M	24.38M	18.36M	56.62M	78.06M
Stock-Based Compensation	0	0	5.01M	22.93M	31.78M	25.24M	23.18M
Deferred Taxes	0	1K	-17.79M	17.43M	17.79M	8.46M	-27.77M
Other Non-Cash Items	18.02M	-281K	68.6M	-63.52M	-17.62M	-19.69M	-52.9M
Working Capital Changes	11.19M	1.91M	-37.65M	-34.29M	4.21M	-32.23M	58.21M
Change in Receivables	4.67M	-145K	-3.22M	-47.42M	15.95M	3.52M	-9.34M
Change in Inventory	4.33M	-9.57M	-9.22M	-8.23M	-24.31M	2.29M	-41.54M
Change in Payables	0	6.25M	-3.85M	5.53M	1.96M	11.3M	1.33M
Cash from Investing+	-5.88M	5.62M	-22.37M	-119.36M	-1.36B	68.7M	10.06M
Capital Expenditures	-7.79M	-2.27M	-22.37M	-123.87M	-326.6M	-261.9M	-186.42M
CapEx % of Revenue	0.12%	0.03%	0.17%	0.37%	0.62%	1.03%	0.91%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	1.91M	0	0	4.38M	5.13M	12.49M	96K
Cash from Financing+	-30.74M	-4.1M	521.96M	666.11M	-24.19M	-9.92M	-4.79M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	-30.74M	0	504.32M	-18.13M	0	0	-96.09M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	12.41M	-2.71M	-19.09M	-21.9M	16.92M	-199.2M	-173.07M
FCF Margin %	0.18%	-0.04%	-0.14%	-0.07%	0.03%	-0.79%	-0.85%
FCF Growth %	-	-1.22%	-6.04%	-0.15%	1.77%	-12.77%	0.13%
FCF per Share	0.18	-0.04	-0.24	-0.12	0.09	-1.12	-1.02
FCF Conversion (FCF/Net Income)	-1.50x	0.06x	-0.15x	0.76x	1.19x	2.58x	-0.20x
Interest Paid	0	0	0	1.2M	2.1M	2.06M	12.13M
Taxes Paid	0	0	0	4.17M	18.86M	22.17M	870K

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-5.22%	14.5%	24.9%	1.81%	-5.41%
Return on Invested Capital (ROIC)	-97.58%	-242.16%	-12.92%	26.78%	20.67%	-0.73%	-7.31%
Gross Margin	15.03%	7.6%	47.34%	69.68%	79.04%	41.44%	-32.76%
Net Margin	-19.97%	-9.2%	-16.25%	40.68%	54.79%	9.59%	-32.09%
Debt / Equity	-	-	0.08x	0.69x	0.52x	0.50x	0.87x
Interest Coverage	-1.77x	-2.23x	-6.93x	18.57x	56.59x	-3.37x	-7.36x
FCF Conversion	-1.50x	0.06x	-0.15x	0.76x	1.19x	2.58x	-0.20x
Revenue Growth	-	8.89%	82.96%	147.15%	58.91%	-51.95%	-19.57%

Revenue by Segment

	2022	2024
Materials	-	203.85M
Materials Growth	-	-
Product	517.27M	-
Product Growth	-	-
Product and Service, Other	10.24M	-
Product and Service, Other Growth	-	-

Frequently Asked Questions

Growth & Financials

MP Materials Corp. (MP) reported $232.7M in revenue for fiscal year 2024. This represents a 245% increase from $67.4M in 2018.

MP Materials Corp. (MP) saw revenue decline by 19.6% over the past year.

MP Materials Corp. (MP) reported a net loss of $117.6M for fiscal year 2024.

Dividend & Returns

MP Materials Corp. (MP) has a return on equity (ROE) of -5.4%. Negative ROE indicates the company is unprofitable.

MP Materials Corp. (MP) had negative free cash flow of $230.0M in fiscal year 2024, likely due to heavy capital investments.

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MP Materials Corp. (MP) 10-Year Financial Performance & Capital Metrics

MP • • Industrial / General

Basic MaterialsIndustrial MaterialsBattery Metals & Critical MineralsRare Earth & Specialty Battery Metals

Revenue $204M -19.6%
EBITDA -$91M -340.5%
Net Income -$65M -369.2%
EPS (Diluted) -0.57 -507.1%
Gross Margin -32.76% -179.1%
EBITDA Margin -44.82% -399.0%
Operating Margin -83.11% -1088.8%
Net Margin -32.09% -434.6%
ROE -5.41% -397.8%
ROIC -7.31% -902.3%
Debt/Equity 0.87 +71.9%
Interest Coverage -7.36 -118.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 90 (top 10%)
✓Strong 5Y sales CAGR of 22.7%
✓Share count reduced 4.6% through buybacks
✓Healthy 5Y average net margin of 11.3%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Trading more than 30% below 52-week high
✗Expensive at 10.7x book value
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y22.66%

3Y-15%

TTM26.44%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-98.25%

EPS CAGR

10Y-

5Y-

3Y-

TTM-30.97%

ROCE

10Y Avg-1.36%

5Y Avg2.65%

3Y Avg2.66%

Latest-7.71%

Peer Comparison

Rare Earth & Specialty Battery Metals

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
USARUSA Rare Earth Inc	2.34B	16.79	180.15			0.37%	1.47
ELBMElectra Battery Materials Corporation	83.35M	0.89	-0.43			-55.75%	1.12
ABATAmerican Battery Technology Company Common Stock	632.3M	4.87	-4.77		-32.31%	-91.5%	0.11
LZMLifezone Metals Limited	475.89M	5.68	-9.63	-90.49%	-276.31%	-387.04%	0.28
NBNioCorp Developments Ltd.	759.13M	6.36	-17.67			-38.32%	0.00
TMCTMC the metals company Inc.	3.05B	7.38	-29.52
IPXIperionX Limited	1.57B	46.73	-38.94			-38.25%	0.04
MPMP Materials Corp.	11.82B	66.70	-117.02	-19.57%	-50.55%	-4.95%	0.87

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	67.42M	73.41M	134.31M	331.95M	527.51M	253.44M	203.85M
Revenue Growth %	-	0.09%	0.83%	1.47%	0.59%	-0.52%	-0.2%
Cost of Goods Sold+	57.28M	67.83M	70.73M	100.64M	110.57M	148.42M	270.64M
COGS % of Revenue	0.85%	0.92%	0.53%	0.3%	0.21%	0.59%	1.33%
Gross Profit+	10.13M	5.58M	63.58M	231.32M	416.94M	105.02M	-66.79M
Gross Margin %	0.15%	0.08%	0.47%	0.7%	0.79%	0.41%	-0.33%
Gross Profit Growth %	-	-0.45%	10.4%	2.64%	0.8%	-0.75%	-1.64%
Operating Expenses+	19.02M	13.2M	98.28M	65.97M	89.53M	122.74M	102.64M
OpEx % of Revenue	0.28%	0.18%	0.73%	0.2%	0.17%	0.48%	0.5%
Selling, General & Admin	14.56M	11.1M	26.77M	56.65M	75.86M	79.25M	83.3M
SG&A % of Revenue	0.22%	0.15%	0.2%	0.17%	0.14%	0.31%	0.41%
Research & Development	0	0	140K	4.2M	4.25M	14.93M	9.31M
R&D % of Revenue	-	-	0%	0.01%	0.01%	0.06%	0.05%
Other Operating Expenses	4.45M	2.09M	71.38M	5.13M	9.42M	28.56M	10.03M
Operating Income+	-8.88M	-7.62M	-34.7M	165.34M	327.41M	-17.72M	-169.43M
Operating Margin %	-0.13%	-0.1%	-0.26%	0.5%	0.62%	-0.07%	-0.83%
Operating Income Growth %	-	0.14%	-3.55%	5.76%	0.98%	-1.05%	-8.56%
EBITDA+	-4.43M	-2.93M	-27.77M	189.73M	345.77M	37.99M	-91.37M
EBITDA Margin %	-0.07%	-0.04%	-0.21%	0.57%	0.66%	0.15%	-0.45%
EBITDA Growth %	-	0.34%	-8.47%	7.83%	0.82%	-0.89%	-3.41%
D&A (Non-Cash Add-back)	4.45M	4.69M	6.93M	24.38M	18.36M	55.71M	78.06M
EBIT	-8.88M	-3.34M	-34.45M	169.1M	346.94M	38.33M	-70.34M
Net Interest Income+	-5.02M	-2.95M	-4.85M	-8.55M	14.04M	50.38M	24.1M
Interest Income	0	461K	163K	353K	19.83M	55.64M	47.11M
Interest Expense	5.02M	3.41M	5.01M	8.9M	5.79M	5.25M	23.01M
Other Income/Expense	-4.58M	866K	-4.76M	-5.15M	13.74M	50.79M	76.08M
Pretax Income+	-13.46M	-6.75M	-39.46M	160.19M	341.15M	33.08M	-93.35M
Pretax Margin %	-0.2%	-0.09%	-0.29%	0.48%	0.65%	0.13%	-0.46%
Income Tax+	1K	1K	-17.64M	25.16M	52.15M	8.77M	-27.92M
Effective Tax Rate %	1%	1%	0.55%	0.84%	0.85%	0.73%	0.7%
Net Income+	-13.47M	-6.75M	-21.82M	135.04M	289M	24.31M	-65.42M
Net Margin %	-0.2%	-0.09%	-0.16%	0.41%	0.55%	0.1%	-0.32%
Net Income Growth %	-	0.5%	-2.23%	7.19%	1.14%	-0.92%	-3.69%
Net Income (Continuing)	-13.47M	-6.75M	-21.82M	135.04M	289M	24.31M	-65.42M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0
EPS (Diluted)+	-0.20	-0.10	-0.27	0.73	1.52	0.14	-0.57
EPS Growth %	-	0.51%	-1.75%	3.7%	1.08%	-0.91%	-5.07%
EPS (Basic)	-0.20	-0.10	-0.27	0.78	1.64	0.14	-0.57
Diluted Shares Outstanding	68.88M	68.88M	79.69M	189.84M	193.45M	178.15M	169.88M
Basic Shares Outstanding	66.56M	66.56M	79.69M	173.47M	176.52M	177.18M	166.84M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	17.48M	27.41M	561.05M	1.28B	1.29B	1.13B	1.03B
Cash & Short-Term Investments	2.83M	2.76M	519.65M	1.18B	1.18B	997.84M	850.87M
Cash Only	2.83M	2.76M	519.65M	1.18B	136.63M	263.35M	282.44M
Short-Term Investments	0	0	0	0	1.05B	734.49M	568.43M
Accounts Receivable	225K	370K	3.59M	51.01M	32.86M	30.16M	62.34M
Days Sales Outstanding	1.22	1.84	9.75	56.09	22.73	43.44	111.63
Inventory	13.47M	23.05M	32.27M	38.69M	57.55M	95.18M	107.91M
Days Inventory Outstanding	85.85	124.02	166.54	140.33	189.98	234.07	145.53
Other Current Assets	947K	0	0	0	21.07M	7.99M	10.2M
Total Non-Current Assets+	78.79M	74.39M	513.24M	612.86M	943.96M	1.21B	1.3B
Property, Plant & Equipment	52.93M	46.97M	503M	610.61M	935.84M	1.17B	1.26B
Fixed Asset Turnover	1.27x	1.56x	0.27x	0.54x	0.56x	0.22x	0.16x
Goodwill	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	89K	8.88M	7.37M
Long-Term Investments	0	0	0	0	0	9.67M	0
Other Non-Current Assets	25.86M	27.41M	10.24M	2.25M	8.03M	18.6M	34.69M
Total Assets+	96.27M	101.79M	1.07B	1.89B	2.24B	2.34B	2.33B
Asset Turnover	0.70x	0.72x	0.13x	0.18x	0.24x	0.11x	0.09x
Asset Growth %	-	0.06%	9.55%	0.76%	0.18%	0.04%	-0%
Total Current Liabilities+	23.05M	31.32M	43.06M	59.54M	97.48M	108.55M	164.02M
Accounts Payable	7.79M	0	16.16M	35.73M	15.33M	28M	23.56M
Days Payables Outstanding	49.64	-	83.39	129.61	50.59	68.84	31.78
Short-Term Debt	5.4M	4.48M	24.47M	16.08M	0	0	0
Deferred Revenue (Current)	0	1000K	0	0	0	0	1000K
Other Current Liabilities	9.86M	20.03M	2.16M	4.01M	4.05M	6.62M	18.85M
Current Ratio	0.76x	0.88x	13.03x	21.44x	13.27x	10.42x	6.29x
Quick Ratio	0.17x	0.14x	12.28x	20.79x	12.68x	9.54x	5.63x
Cash Conversion Cycle	37.44	-	92.91	66.82	162.13	208.66	225.38
Total Non-Current Liabilities+	84.49M	88.5M	177.35M	821.39M	827.67M	862.12M	1.11B
Long-Term Debt	15.53M	13.59M	45.34M	674.93M	678.44M	681.98M	908.73M
Capital Lease Obligations	0	399K	736K	554K	15K	6.83M	5.8M
Deferred Tax Liabilities	0	0	87.47M	104.5M	122.35M	130.79M	110.81M
Other Non-Current Liabilities	68.96M	45.57M	43.8M	41.41M	26.86M	25.09M	26.11M
Total Liabilities	107.54M	119.82M	220.41M	880.93M	925.15M	970.67M	1.28B
Total Debt+	20.93M	18.67M	70.82M	691.82M	678.46M	688.81M	914.53M
Net Debt	18.09M	15.91M	-448.84M	-487.48M	541.83M	425.46M	632.09M
Debt / Equity	-	-	0.08x	0.69x	0.52x	0.50x	0.87x
Debt / EBITDA	-	-	-	3.65x	1.96x	18.13x	-
Net Debt / EBITDA	-	-	-	-2.57x	1.57x	11.20x	-
Interest Coverage	-1.77x	-2.23x	-6.93x	18.57x	56.59x	-3.37x	-7.36x
Total Equity+	-11.27M	-18.02M	853.88M	1.01B	1.31B	1.37B	1.05B
Equity Growth %	-	-0.6%	48.38%	0.18%	0.3%	0.04%	-0.23%
Book Value per Share	-0.16	-0.26	10.71	5.31	6.79	7.67	6.21
Total Shareholders' Equity	-11.27M	-18.02M	853.88M	1.01B	1.31B	1.37B	1.05B
Common Stock	20.5M	7K	17K	18K	18K	17K	18K
Retained Earnings	-34.04M	-40.8M	-62.62M	72.42M	361.42M	385.73M	320.3M
Treasury Stock	0	0	0	0	0	0	-227.05M
Accumulated OCI	0	0	0	0	189K	145K	173K
Minority Interest	0	0	0	0	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	20.2M	-437K	3.28M	101.97M	343.51M	62.7M	13.35M
Operating CF Margin %	0.3%	-0.01%	0.02%	0.31%	0.65%	0.25%	0.07%
Operating CF Growth %	-	-1.02%	8.5%	30.12%	2.37%	-0.82%	-0.79%
Net Income	-13.47M	-6.75M	-21.82M	135.04M	289M	24.31M	-65.42M
Depreciation & Amortization	4.45M	4.69M	6.93M	24.38M	18.36M	56.62M	78.06M
Stock-Based Compensation	0	0	5.01M	22.93M	31.78M	25.24M	23.18M
Deferred Taxes	0	1K	-17.79M	17.43M	17.79M	8.46M	-27.77M
Other Non-Cash Items	18.02M	-281K	68.6M	-63.52M	-17.62M	-19.69M	-52.9M
Working Capital Changes	11.19M	1.91M	-37.65M	-34.29M	4.21M	-32.23M	58.21M
Change in Receivables	4.67M	-145K	-3.22M	-47.42M	15.95M	3.52M	-9.34M
Change in Inventory	4.33M	-9.57M	-9.22M	-8.23M	-24.31M	2.29M	-41.54M
Change in Payables	0	6.25M	-3.85M	5.53M	1.96M	11.3M	1.33M
Cash from Investing+	-5.88M	5.62M	-22.37M	-119.36M	-1.36B	68.7M	10.06M
Capital Expenditures	-7.79M	-2.27M	-22.37M	-123.87M	-326.6M	-261.9M	-186.42M
CapEx % of Revenue	0.12%	0.03%	0.17%	0.37%	0.62%	1.03%	0.91%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	1.91M	0	0	4.38M	5.13M	12.49M	96K
Cash from Financing+	-30.74M	-4.1M	521.96M	666.11M	-24.19M	-9.92M	-4.79M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	-30.74M	0	504.32M	-18.13M	0	0	-96.09M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	12.41M	-2.71M	-19.09M	-21.9M	16.92M	-199.2M	-173.07M
FCF Margin %	0.18%	-0.04%	-0.14%	-0.07%	0.03%	-0.79%	-0.85%
FCF Growth %	-	-1.22%	-6.04%	-0.15%	1.77%	-12.77%	0.13%
FCF per Share	0.18	-0.04	-0.24	-0.12	0.09	-1.12	-1.02
FCF Conversion (FCF/Net Income)	-1.50x	0.06x	-0.15x	0.76x	1.19x	2.58x	-0.20x
Interest Paid	0	0	0	1.2M	2.1M	2.06M	12.13M
Taxes Paid	0	0	0	4.17M	18.86M	22.17M	870K

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-5.22%	14.5%	24.9%	1.81%	-5.41%
Return on Invested Capital (ROIC)	-97.58%	-242.16%	-12.92%	26.78%	20.67%	-0.73%	-7.31%
Gross Margin	15.03%	7.6%	47.34%	69.68%	79.04%	41.44%	-32.76%
Net Margin	-19.97%	-9.2%	-16.25%	40.68%	54.79%	9.59%	-32.09%
Debt / Equity	-	-	0.08x	0.69x	0.52x	0.50x	0.87x
Interest Coverage	-1.77x	-2.23x	-6.93x	18.57x	56.59x	-3.37x	-7.36x
FCF Conversion	-1.50x	0.06x	-0.15x	0.76x	1.19x	2.58x	-0.20x
Revenue Growth	-	8.89%	82.96%	147.15%	58.91%	-51.95%	-19.57%

Revenue by Segment

	2022	2024
Materials	-	203.85M
Materials Growth	-	-
Product	517.27M	-
Product Growth	-	-
Product and Service, Other	10.24M	-
Product and Service, Other Growth	-	-

Frequently Asked Questions

Growth & Financials

MP Materials Corp. (MP) reported $232.7M in revenue for fiscal year 2024. This represents a 245% increase from $67.4M in 2018.

MP Materials Corp. (MP) saw revenue decline by 19.6% over the past year.

MP Materials Corp. (MP) reported a net loss of $117.6M for fiscal year 2024.

Dividend & Returns

MP Materials Corp. (MP) has a return on equity (ROE) of -5.4%. Negative ROE indicates the company is unprofitable.

MP Materials Corp. (MP) had negative free cash flow of $230.0M in fiscal year 2024, likely due to heavy capital investments.