MP Materials is executing a high-stakes vertical integration strategy, with 2026Q2 revenue up 89% year-over-year to $108.5M, yet the company remains unprofitable at the operating line (-$13.5% margin) and has posted negative operating income in nine of the las...
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Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth accelerated to 89% year-over-year in 2026Q2, but gross margin swung to 33.4% from -32.2% in the prior quarter, while operating margin remained deeply negative at -13.5%, indicating that cost growth (COGS up to $72.3M) is still outpacing the benefits of scale.
MP Materials is transitioning from a mining operation to a vertically integrated producer, enhancing its market position and supply chain control.
The company is becoming a key supplier of rare earth materials, which are vital for national security and technology sectors.
Analysts project a bullish outlook for 2026, driven by MP Materials' strategic evolution and market opportunities.
Trailing total returns as of 10/3/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Aug 6, 2026 | -$0.01+0.6% vs -$0.01 | $108M+12.0% vs $97M |
Q2 2026 May 7, 2026 | $0.03+206.5% vs -$0.03 | $91M+21.2% vs $75M |
Q1 2026 Feb 26, 2026 | $0.09+53.9% vs $0.06 | $53M-30.7% vs $76M |
Q4 2025 Nov 6, 2025 | -$0.10+42.2% vs -$0.17 | $54M+0.6% vs $53M |
MP Materials Corp. (NYSE: MP - Get Free Report)'s stock price shot up 4.3% on Wednesday. The company traded as high as $48.67 and last traded at $47.3610. 6,034,286 shares traded hands during trading, a decline of 7% from the average daily volume of 6,463,722 shares. The stock had previously closed at $45.43. More MP Materials
Stocks are lower to kick off October and Q4, with investors eyeing yields, crude, and fresh earnings reports
MP Materials (NYSE:MP) stock surged 6% to $48.29 on Wednesday as traders weighed the company's critical minerals growth story. USA Rare Earth (NASDAQ:USAR) shares rose 3% to $14.44, while Critical Metals (NASDAQ:CRML) stock stayed essentially flat, up 0.1% to $7.
MP Materials and USA Rare Earth have no direct exposure to Greenland's rare-earth assets. Critical Metals Corp. and REalloys are the main beneficiaries of the Greenland deal.
Benchmark MP against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for MP Materials Corp. (MP)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $46.97 | $8.36B | -93.94 | 35.12% | -31.18% | -4.98% | — | |
| $10.73 | $2.68B | -29.00 | -15.61% | -77.3% | -11.22% | — | |
| $2.55 | $569.36M | -5.00 | — | — | -6.16% | — | |
| $9.00 | $5.96B | -24.66 | — | — | -16.13% | — | |
| $1.05 | $417.2M | -5.25 | -19.28% | -252.34% | -110.66% | — | |
| $104.59 | $12.33B | -18.19 | -4.37% | 3.79% | 2.2% | — |
MP Materials Corp. (MP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
MP Materials Corp. (MP) SEC filings — annual & quarterly reports (10-K, 10-Q)
Aug 6, 2026·SEC
Jun 10, 2026·SEC
May 7, 2026·SEC
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MP Materials Corp. (MP) stock FAQ — growth, dividends, profitability & financials explained
MP Materials Corp. (MP) reported $305.4M in revenue for fiscal year 2025. This represents a 353% increase from $67.4M in 2018.
MP Materials Corp. (MP) grew revenue by 35.1% over the past year. This is strong growth.
MP Materials Corp. (MP) reported a net loss of $60.6M for fiscal year 2025.
MP Materials Corp. (MP) has a return on equity (ROE) of -5.0%. Negative ROE indicates the company is unprofitable.
MP Materials Corp. (MP) had negative free cash flow of $504.6M in fiscal year 2025, likely due to heavy capital investments.
