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MP Materials (MP) is a Materials company in the Russell 1000. Latest news and coverage below.
MP Materials revenue & net income history (FY2019–FY2025)
| FY2019Dec 2019 | FY2020Dec 2020 | FY2021Dec 2021 | FY2022Dec 2022 | FY2023Dec 2023 | FY2024Dec 2024 | FY2025Dec 2025 | |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $73.4M | $134.3M | $332.0M | $527.5M | $253.4M | $203.9M | $224.4M |
| Growth (year over year) | — | +83.0% | +147.2% | +58.9% | −52.0% | −19.6% | +10.1% |
| Gross profit | $12.2M | $70.5M | — | $435.3M | $160.7M | $11.3M | $31.7M |
| Gross margin | 16.6% | 52.5% | — | 82.5% | 63.4% | 5.5% | 14.1% |
| Operating income | −$7.62M | −$34.7M | $165.3M | $327.4M | −$17.7M | −$169.4M | −$149.4M |
| Operating margin | −10.4% | −25.8% | 49.8% | 62.1% | −7.0% | −83.1% | −66.6% |
| Net income | −$6.75M | −$21.8M | $135.0M | $289.0M | $24.3M | −$65.4M | −$85.9M |
| Net margin | −9.2% | −16.2% | 40.7% | 54.8% | 9.6% | −32.1% | −38.3% |
| EPS (diluted) | −$0.10 | −$0.27 | $0.73 | $1.52 | $0.14 | −$0.57 | −$0.50 |
| Balance sheet | |||||||
| Cash and equivalents | $2.76M | $519.7M | $1.18B | $136.6M | $263.4M | $282.4M | $1.17B |
| Total assets | $101.8M | $1.07B | $1.89B | $2.24B | $2.34B | $2.33B | $3.86B |
| Total liabilities | $119.8M | $220.4M | $880.9M | $925.2M | $970.7M | $1.28B | $1.47B |
| Long-term debt | — | $961.0K | $674.9M | $678.4M | $682.0M | $908.7M | $931.3M |
| Shareholders' equity | −$18.0M | $853.9M | $1.01B | $1.31B | $1.37B | $1.05B | $1.98B |
| Cash flow | |||||||
| Operating cash flow | −$437.0K | $3.28M | $102.0M | $343.5M | $62.7M | $13.3M | −$155.8M |
| Capital expenditure | $2.27M | $22.4M | $123.9M | $326.6M | $261.9M | $186.4M | $172.4M |
| Free cash flow | −$2.71M | −$19.1M | −$21.9M | $16.9M | −$199.2M | −$173.1M | −$328.1M |
| Share buybacks | — | — | — | $0 | $0 | $225.1M | $0 |
| Q3 FY24Sep 2024 | Q4 FY24†Dec 2024 | Q1 FY25Mar 2025 | Q2 FY25Jun 2025 | Q3 FY25Sep 2025 | Q4 FY25†Dec 2025 | Q1 FY26Mar 2026 | Q2 FY26Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $62.9M | $61.0M | $60.8M | $57.4M | $53.6M | $52.7M | $90.6M | $108.5M |
| Growth (year over year) | +19.8% | +48.0% | +24.9% | +83.6% | −14.9% | −13.6% | +49.1% | +89.0% |
| Gross profit | $5.66M | $2.72M | $12.0M | $6.96M | $5.08M | $7.63M | $16.4M | $36.2M |
| Gross margin | 9.0% | 4.5% | 19.7% | 12.1% | 9.5% | 14.5% | 18.1% | 33.4% |
| Operating income | −$39.5M | −$44.0M | −$34.8M | −$43.9M | −$67.0M | −$3.69M | −$24.1M | −$32.0M |
| Operating margin | −62.8% | −72.1% | −57.2% | −76.5% | −125.2% | −7.0% | −26.6% | −29.5% |
| Net income | −$25.5M | −$22.3M | −$22.6M | −$30.9M | −$41.8M | $9.43M | −$7.97M | −$20.3M |
| Net margin | −40.5% | −36.6% | −37.2% | −53.8% | −78.0% | 17.9% | −8.8% | −18.7% |
| EPS (diluted) | −$0.16 | −$0.12 | −$0.14 | −$0.19 | −$0.24 | $0.07 | −$0.04 | −$0.11 |
| Balance sheet | ||||||||
| Cash and equivalents | $284.4M | $282.4M | $198.3M | $261.5M | $1.15B | $1.17B | $886.3M | $429.1M |
| Total assets | $2.30B | $2.33B | $2.37B | $2.34B | $3.80B | $3.86B | $3.84B | $3.73B |
| Total liabilities | $1.24B | $1.28B | $1.33B | $1.33B | $1.42B | $1.47B | $1.46B | $1.36B |
| Long-term debt | $937.6M | $908.7M | $842.4M | $843.4M | $929.7M | $931.3M | $932.9M | $934.6M |
| Shareholders' equity | $1.06B | $1.05B | $1.04B | $1.01B | $1.96B | $1.98B | $1.97B | $1.96B |
| Cash flow | ||||||||
| Operating cash flow | −$6.84M | $30.5M | −$63.2M | −$3.65M | −$42.0M | −$46.9M | −$1.91M | $6.85M |
| Capital expenditure | $46.4M | $41.6M | $30.5M | $29.0M | $50.5M | $62.4M | $77.4M | $230.3M |
| Free cash flow | −$53.3M | −$11.2M | −$93.7M | −$32.7M | −$92.5M | −$109.3M | −$79.3M | −$223.5M |
| Share buybacks | $24.3M | $4.00K | $0 | $0 | $0 | $0 | — | — |
From MP Materials's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →
About MP Materials
MP Materials Corp. is an American rare-earth materials company headquartered in Las Vegas, Nevada. MP Materials owns and operates the Mountain Pass mine, the only operating rare earth mine and processing facility in the United States. MP Materials focuses its production on neodymium-praseodymium (NdPr), a rare-earth material used in high-strength permanent magnets that power the traction motors found in electric vehicles, robotics, wind turbines, drones, and other advanced motion technologies. MP Materials is listed on the New York Stock Exchange under the ticker symbol "MP". As of December 2021, JHL Capital Group, QVT Financial and CEO James Litinsky were the company's three largest shareholders, with about 7.7% of the company owned by Shenghe Resources, a Chinese company partly owned by the country's Ministry of Natural Resources. In July 2025, the United States Department of Defense announced a deal that would make it the largest shareholder of MP Materials.
Source: Wikipedia — MP Materials
- Headquarters
- Las Vegas, Nevada From SEC filings, Oct 2026
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