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MP Materials Corp.

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
$10.38B
P/E (TTM)
-81.5
13.3
Dividend Yield
--
52W High
$100.25
52W Low
$15.56
52W Range
51%
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: 2018-2024

Financial Dashboard

Q3 2025 Data

Revenue

$53.55M-14.90%
4-Quarter Trend

EPS

-$0.24+50.00%
4-Quarter Trend

FCF

-$92.54M+73.67%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Month Revenue Increased Total revenue reached $171.76M for nine months, up 20%, driven by separated product sales growth and new segment revenue.
Magnetics Revenue Commenced Magnetics segment began generating revenue from precursor sales in Q1 2025, supporting the company's vertical integration strategy.
Significant Equity Financing Closed Raised $724.2M net proceeds from July 2025 public offering, bolstering liquidity for major expansion projects.
Total Assets Grew Substantially Total assets grew to $3.80B by September 30, 2025, supported by a strong cash balance of $1.15B.

Risk Factors

Quarterly Revenue Declined Sharply Q3 revenue fell 15% to $53.55M due to the July 2025 cessation of all rare earth concentrate sales to China.
Net Loss Widened Significantly Nine month net loss widened to $(95.30M) from $(43.08M), reflecting higher operating expenses and transaction costs.
China Sales Dependency Ended Ceased sales to China customer Shenghe; this relationship historically accounted for 80% of nine month 2024 revenue.
Separated Product Cost Pressure Cost of sales increased 10% for nine months, driven by higher unit costs associated with new separated products.

Outlook

DoW Price Floor Commencing Price Protection Agreement begins Q4 2025, offering price floor stability for NdPr products against market volatility.
Magnet Manufacturing Scaling Up Completing 10X Facility construction; expect revenue generation from finished NdFeB magnets by end of 2025.
Apple Supply Agreement Active Apple agreement secured $40.0M prepayment in Q3 2025; development continues for scaled recycling capabilities.
Capital Intensive Buildout Ahead Completion of fully integrated magnetics producer remains capital intensive, requiring significant investment in 2025.

Peer Comparison

Revenue (TTM)

POSCO Holdings Inc.PKX
$50.85B
-4.1%
Dow Inc.DOW
$40.91B
-5.3%
LyondellBasell Industries N.V.LYB
$32.56B
-16.8%

Gross Margin (Latest Quarter)

Alamos Gold Inc.AGI
54.2%
+6.1 pp
RPM International Inc.RPM
42.3%
-0.2 pp
International Flavors & Fragrances Inc.IFF
36.5%
+5.5 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
TECK$19.78B22.45.0%21.7%
PKX$16.77B46.80.9%15.5%
IFF$15.88B-38.5-3.0%25.6%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-4.2%
Flat Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention

Research & Insights

Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 7, 2025|
    Revenue: $53.55M-14.9%
    |
    EPS: $-0.24+50.0%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 8, 2025|
    Revenue: $57.39M+83.6%
    |
    EPS: $-0.19-9.5%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 9, 2025|
    Revenue: $60.81M+24.9%
    |
    EPS: $-0.14+133.3%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 28, 2025|
    Revenue: $203.86M-19.6%
    |
    EPS: $-0.57-507.1%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 8, 2024|
    Revenue: $62.93M+19.8%
    |
    EPS: $-0.16+563.9%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 6, 2024|
    Revenue: $31.26M-51.2%
    |
    EPS: $-0.21-602.4%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 3, 2024|
    Revenue: $48.68M-49.1%
    |
    EPS: $-0.06-128.6%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 28, 2024|
    Revenue: $253.45M-52.0%
    |
    EPS: $0.14-91.5%
    Miss