Latest Ratios: P/E Ratio N/A · EV/EBITDA N/A · ROE 32.8%. (2022–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Market Cap | — | — | — | — |
| Enterprise Value | — | — | — | — |
| P/E Ratio → | — | — | — | — |
| P/S Ratio | — | — | — | — |
| P/B Ratio | — | — | — | — |
| P/FCF | — | — | — | — |
| P/OCF | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| EV / Revenue | — | — | — | — |
| EV / EBITDA | — | — | — | — |
| EV / EBIT | — | — | — | — |
| EV / FCF | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Gross Margin | — | — | — | — |
| Operating Margin | — | — | — | — |
| Net Profit Margin | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ROE | 32.8% | 32.8% | — | — |
| ROA | 19.4% | 19.4% | -11.9% | -35.7% |
| ROIC | -16.4% | -16.4% | — | — |
| ROCE | -11.3% | -11.3% | -46.0% | -43.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | — | — |
| Debt / EBITDA | — | — | — | — |
| Net Debt / Equity | — | 0.05 | — | — |
| Net Debt / EBITDA | — | — | — | — |
| Debt / FCF | — | — | — | — |
| Interest Coverage | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Current Ratio | 0.02 | 0.02 | 2.44 | 2.54 |
| Quick Ratio | 0.02 | 0.02 | 2.44 | 2.54 |
| Cash Ratio | 0.00 | 0.00 | 2.36 | 2.51 |
| Asset Turnover | — | — | — | — |
| Inventory Turnover | — | — | — | — |
| Days Sales Outstanding | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Dividend Yield | — | — | — | — |
| Payout Ratio | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Earnings Yield | — | — | — | — |
| FCF Yield | — | — | — | — |
| Buyback Yield | — | — | — | — |
| Total Shareholder Yield | — | — | — | — |
| Shares Outstanding | — | $0 | $0 | $0 |
Imminent liquidity and funding shortfall
As reported in financial statements, the company currently lacks any operational revenue, resulting in consistently negative margins that underscore the significant financial burden of maintaining development-stage infrastructure without the benefit of commercial-scale production to offset ongoing research and administrative expenditures.
The absence of gross or operating margins is typical for a pre-commercial entity, yet it highlights the extreme reliance on external capital to fund operations. Investors should monitor the transition from development to production, as the current lack of earning power suggests that any valuation must be based on asset potential rather than current profitability.
Based on recent SEC filings, the company's liquidity position has exhibited extreme instability, with cash reserves dropping to a nominal $2,101, a figure that suggests the firm is operating in a state of technical insolvency and faces an immediate, critical need for external capital.
While the current ratio appears high in some periods due to accounting fluctuations, the underlying cash position reveals a precarious reality. This suggests that the company's ability to continue as a going concern is entirely dependent on its ability to secure dilutive financing or government support.
According to quarterly data, the company's efficiency metrics, such as the cash conversion cycle, remain largely unobservable due to the lack of revenue, which prevents a meaningful assessment of how effectively management might eventually convert raw mineral inputs into finished magnet products.
The lack of operational history makes it impossible to gauge the efficiency of the proposed mine-to-magnet supply chain. Any future assessment of working capital will need to focus on the speed at which the company can process rare earth concentrates into high-value magnets without accumulating excessive inventory.
As indicated by industry standards, the most commonly misapplied metric for this business model is the P/E ratio, which is entirely irrelevant for a pre-revenue firm and obscures the true economic value of the company's mineral reserves and strategic manufacturing infrastructure.
Analysts should instead focus on the Net Asset Value (NAV) of the Round Top project and the strategic value of the magnet manufacturing equipment. Relying on earnings-based multiples for a company in this stage of development may lead to a fundamental misunderstanding of the firm's actual risk-reward profile.
Includes 30+ ratios · 3 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying USARW stock.
USA Rare Earth Inc's return on equity (ROE) is 32.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 32.8%.
Based on historical data, USA Rare Earth Inc is trading at valuation metrics that vary. Compare with industry peers and growth rates for a complete picture.