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Financials · MP

MP Materials Corp. (MP) financials

For the twelve months ended Jun 30, 2026, MP Materials Corp. reported $305.38M of revenue and -$60.62M of net income.

Revenue, TTM
$305.38M
Revenue growth, YoY
+26.1%
Net income, TTM
-$60.62M
Net margin
-19.9%
Free cash flow, TTM
-$504.58M
EPS, diluted, TTM
-$0.32
Cash
$429.07M
Total debt
$934.58M
P/S
20.65
Market cap
$6.31B
Annual revenue$224.44M
FY2019FY2025
Annual net income-$85.87M
FY2019FY2025
Annual free cash flow-$328.13M
FY2019FY2025

MP revenue and earnings growth

MP revenueQ2 2026$108.49M

Quarter YoY
+89.0%
QoQ
+19.7%
FY YoY
+10.1%
5Y CAGR
+10.8%

MP revenue was $108.49M in fiscal Q2 2026 (ended Jun 30, 2026), up 89.0% from a year earlier and up 19.7% from the prior quarter. For the full fiscal 2025 it was $224.44M, up 10.1% from fiscal 2024. Compound annual growth was +10.8% over 5 years. It rose in 4 of the last 6 fiscal years.

MP net incomeQ2 2026-$20.30M

MP net income was -$20.30M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$30.87M a year earlier. For the full fiscal 2025 it was -$85.87M, compared with -$65.42M in fiscal 2024.

MP EPSQ2 2026-$0.11

MP diluted EPS was -$0.11 in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$0.19 a year earlier. For the full fiscal 2025 it was -$0.50, compared with -$0.57 in fiscal 2024.

MP free cash flowQ2 2026-$223.49M

MP free cash flow was -$223.49M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$32.66M a year earlier. For the full fiscal 2025 it was -$328.13M, compared with -$173.07M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
Revenue$224.44M$203.85M$253.44M$527.51M$331.95M$134.31M$73.41M
Selling, general and admin$112.07M$83.30M$79.25M$75.86M$56.65M$26.77M$11.10M
Operating income-$149.37M-$169.43M-$17.72M$327.41M$165.34M-$34.70M-$7.62M
Interest expense$31.48M$23.01M$5.25M$5.79M$8.90M$5.01M$3.41M
Pre-tax income-$117.77M-$93.35M$33.08M$341.15M$160.19M-$39.46M-$6.75M
Income tax-$31.90M-$27.92M$8.77M$52.15M$25.16M-$17.64M$1.0K
Net income-$85.87M-$65.42M$24.31M$289.00M$135.04M-$21.82M-$6.75M
EPS, basic-$0.50-$0.39$0.14$1.64$0.78-$0.27-$0.10
EPS, diluted-$0.50-$0.57$0.14$1.52$0.73-$0.27-$0.10
Diluted shares170.1M169.9M178.2M193.5M189.8M79.7M66.6M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
Cash and equivalents$1.17B$283.60M$263.35M$143.51M$1.18B$532.44M$29.57M
Receivables$14.64M$18.64M$10.03M$32.86M$51.01M$3.59M$370.0K
Inventory$171.56M$107.91M$95.18M$57.55M$38.69M$32.27M$23.05M
Current assets$2.17B$1.03B$1.13B$1.29B$1.28B$561.05M$27.41M
Total assets$3.86B$2.33B$2.34B$2.24B$1.89B$1.07B$101.79M
Current liabilities$299.05M$164.02M$108.55M$97.48M$59.54M$43.06M$31.32M
Short-term debt$67.41M$0--$0$2.40M-
Long-term debt$931.33M$908.73M$681.98M$678.44M$674.93M$961.0K-
Total debt$998.74M$908.73M$681.98M$678.44M$674.93M$3.36M-
Total liabilities$1.47B$1.28B$970.67M$925.15M$880.93M$220.41M$119.82M
Shareholders' equity$1.98B$1.05B$1.37B$1.31B$1.01B$853.88M-$18.02M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
Operating cash flow-$155.75M$13.35M$62.70M$343.51M$101.97M$3.28M-$437.0K
Capital expenditures$172.38M$186.42M$261.90M$326.60M$123.87M$22.37M$2.27M
Free cash flow-$328.13M-$173.07M-$199.20M$16.92M-$21.90M-$19.09M-$2.71M
Investing cash flow-$206.05M$10.06M$68.70M-$1.36B-$119.36M-$22.37M$5.62M
Financing cash flow$1.25B-$4.79M-$9.92M-$24.19M$666.11M$521.96M-$4.10M
Share repurchases$0$225.07M$0$0---
Stock-based compensation$30.16M$23.18M$25.24M$31.78M$22.93M$5.01M$0
Depreciation and amortization$89.27M$78.06M$55.71M$18.36M$24.38M$6.93M$4.69M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
Revenue growth, YoY10.1%-19.6%-52.0%58.9%147.2%83.0%-
Net income growth, YoY---91.6%114.0%---
EPS growth, YoY---90.8%108.2%---
Operating margin-66.6%-83.1%-7.0%62.1%49.8%-25.8%-10.4%
Net margin-38.3%-32.1%9.6%54.8%40.7%-16.2%-9.2%
Free cash flow margin-146.2%-84.9%-78.6%3.2%-6.6%-14.2%-3.7%
Return on equity-4.3%-6.2%1.8%22.0%13.4%-2.6%-
Return on assets-2.2%-2.8%1.0%12.9%7.1%-2.0%-6.6%
Current ratio7.246.2910.4213.2721.4413.030.88
Debt to equity0.500.860.500.520.670.00-

Source: XBRL data MP Materials Corp. files with the SEC, latest filing dated Aug 7, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

MP peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MP$305.38M+26.1%-$60.62M-19.9%$6.31B
SCCO$17.11B+38.7%$6.36B37.2%$141.23B
RIO$57.64B+6.3%$9.97B17.3%$105.17B
FCX$25.89B+0.3%$2.94B11.4%$85.33B
VALE$38.40B+0.9%$2.35B6.1%$49.46B
HBM$2.21B+9.4%$568.50M25.7%$9.29B
BVN$1.73B+49.2%$782.14M45.2%$7.11B
CLF$20.07B+7.8%-$473.00M-2.4%$6.54B
AUGO$921.73M+55.1%-$79.34M-8.6%$6.52B

MP FAQ

8 questions
  • What is MP revenue?
    MP Materials Corp. (MP) reported $305.38M of revenue for the twelve months ended Jun 30, 2026. That is up 26.1% from the year before. Revenue for fiscal 2025 was $224.44M.
  • Is MP profitable?
    No. MP Materials Corp. reported a net loss of $60.62M for the twelve months ended Jun 30, 2026.
  • How much cash and debt does MP have?
    MP Materials Corp. reported $429.07M in cash and cash equivalents and $934.58M of debt on its most recent balance sheet in SEC filings.
  • How fast is MP revenue growing?
    MP Materials Corp.'s revenue changed +10.1% in fiscal 2025, to $224.44M. Its compound annual growth rate was +10.8% over 5 years.
  • What is MP free cash flow?
    MP Materials Corp. generated -$504.58M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of -$83.96M less capital expenditures.
  • What is MP earnings per share?
    Diluted earnings per share were -$0.32 for the twelve months ended Jun 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did MP last report financial results?
    The latest statements here come from MP Materials Corp.'s 10-Q filed on Aug 7, 2026, covering the period ended Jun 30, 2026.
  • Where does this MP financial data come from?
    Quantisnow builds these statements from the structured XBRL data MP Materials Corp. files with the SEC. It is provided for information only and is not investment advice.