MP Materials Corp. (MP) P/E Ratio History
Historical price-to-earnings valuation from 2021 to 2023
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MP Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 7, 2026, MP Materials Corp. (MP) trades at a price-to-earnings ratio of -145.3x, with a stock price of $72.65 and trailing twelve-month earnings per share of $-0.43.
The current P/E is 399% below its 5-year average of 48.5x. Over the past five years, MP's P/E has ranged from a low of 16.2x to a high of 170.8x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Basic Materials sector median P/E of 22.9x, MP trades at a 734% discount to its sector peers. The sector includes 125 companies with P/E ratios ranging from 2.1x to 135.9x.
Relative to the broader market, MP trades at a notable discount to the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our MP DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
MP P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $6B | 19.0 | - | +800% | |
| $16B | 14.2Lowest | - | +1486%Best | |
| $88B | 40.1 | 1.34Best | +17% | |
| $1.5T | 369.0 | 9.52 | -47% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
MP Historical P/E Data (2021–2023)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $19.85 | $0.12 | 170.8x | +252% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $19.10 | $0.56 | 34.2x | -29% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $22.88 | $0.91 | 25.1x | -48% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $28.19 | $1.25 | 22.6x | -54% |
| FY2022 Q4 | Sat Dec 31 2022 00:00:00 GM | $24.28 | $1.50 | 16.2x | -67% |
| FY2022 Q3 | Fri Sep 30 2022 00:00:00 GM | $27.30 | $1.41 | 19.4x | -60% |
| FY2022 Q2 | $32.08 | $1.31 | 24.5x | -50% | |
| FY2022 Q1 | $57.34 | $1.08 | 53.1x | +9% | |
| FY2021 Q4 | Fri Dec 31 2021 00:00:00 GM | $45.42 | $0.73 | 62.2x | +28% |
| FY2021 Q3 | $32.23 | $0.67 | 48.1x | -1% | |
| FY2021 Q2 | Wed Jun 30 2021 00:00:00 GM | $36.86 | $0.64 | 57.6x | +19% |
Average P/E for displayed period: 48.5x
Full MP Stock Analysis
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Start ComparisonMP — Frequently Asked Questions
Quick answers to the most common questions about buying MP stock.
Is MP stock overvalued or undervalued?
MP trades at -145.3x P/E, below its 5-year average of 48.5x. At the N/A percentile of historical range, the stock is priced at a discount to its own history.
How does MP's valuation compare to peers?
MP Materials Corp. P/E of -145.3x compares to sector median of 22.9x. The discount suggests lower growth expectations or higher risk.
What is MP's PEG ratio?
MP PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2021-2023.