MP Materials Corp.

NYSE•MP

CEO: Mr. James Henry Litinsky

Sector: Basic Materials

Industry: Industrial Materials

Listing Date: 2020-06-22

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals. The company was founded in 2017 and is headquartered in Las Vegas, Nevada.

Contact Information

1700 S. Pavilion Center Drive, Suite 800, 8th Floor, Las Vegas, NV, 89135, United States

702-844-6111

mpmaterials.com

Market Cap

$9.67B

P/E (TTM)

-112.6

18.8

Dividend Yield

52W High

$100.25

52W Low

$18.64

52W Range

44%

Rank54Top 78.1%

2.7

F-Score

Modified Piotroski Analysis

Based on 7-year fundamentals

Weak • 2.7 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2019-2025

Financial Dashboard

Q4 2025 Data

Revenue

$103.70M+0.00%

4-Quarter Trend

EPS

$0.05+0.00%

4-Quarter Trend

FCF

-$109.26M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue Rises Ten Percent Total revenue reached $224.44M, up 10% versus prior year, driven by $66.86M in new Magnetics segment sales.

Adjusted EBITDA Turns Positive Consolidated Adjusted EBITDA improved $61.59M to $11.42M positive, reversing prior year's $50.17M loss.

Cash Position Significantly Strengthened Cash and equivalents totaled $1.17B, reflecting an $883.6M increase driven by DoW funding and public offering proceeds.

China Sales Cease, PPA Income Materials revenue fell 21% due to July 2025 China sales cessation, partially offset by $51.02M in Price Protection Agreement income.

Risk Factors

DoW Partnership Uncertainty Funding and support for DoW Transactions may be modified or challenged, potentially creating material adverse effects on operations and financial position.

Commodity Price Volatility Risk Profitability remains susceptible to fluctuations in demand and market prices for REE and magnet materials, despite PPA price floor mitigation.

Production Ramp Dependency Continued growth relies heavily on achieving anticipated production rates for REE separation at Mountain Pass midstream operations.

Intellectual Property Infringement Risk exists regarding infringing third-party intellectual property rights, potentially leading to costly litigation or preventing new product commercialization.

Outlook

Independence Facility Expansion Committed to expanding Independence Facility capacity to a projected 3,000 MTs of magnets annually to support downstream growth.

10X Facility Construction Advances Construction of the 10X Facility is advancing, expected to begin commissioning in 2028, targeting 7,000 MTs annual magnet output.

HREE Refining Capability Extension Advancing HREE refining extension at Mountain Pass, including samarium separation, with commissioning expected in 2026.

Leverage Low-Cost Position Strategy focuses on leveraging the established low-cost position in upstream operations to maximize earnings power across all commodity price environments.

Peer Comparison

Revenue (TTM)

PKX

$48.69B

-4.9%

DOW

$39.97B

-7.0%

LYB

$30.15B

-18.1%

Gross Margin (Latest Quarter)

RGLD

64.5%

-12.3pp

AGI

60.1%

+12.9pp

CDE

53.7%

+7.9pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
DOW	$28.18B	-10.8	-15.5%	33.5%
TECK	$26.81B	26.9	5.6%	22.9%
LYB	$23.91B	-32.2	-6.6%	46.9%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

19.5%

Strong Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

Cash Flow Needs Attention

Deep Research

Next earnings:May 6, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data