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MP Materials (MP) Financials

MP Materials logo
$70.68 +2.23 (+3.26%)
Closing price 03:59 PM Eastern
Extended Trading
$70.82 +0.14 (+0.20%)
As of 04:15 PM Eastern
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Annual Income Statements for MP Materials

Annual Income Statements for MP Materials

This table shows MP Materials' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -6.76 -22 135 289 24 -65
Consolidated Net Income / (Loss)		 -6.76 -22 135 289 24 -65
Net Income / (Loss) Continuing Operations		 -6.76 -22 135 289 24 -65
Total Pre-Tax Income 		-6.75 -39 160 341 33 -93
Total Revenue		 70 68 332 522 248 234
Net Interest Income / (Expense)		 -3.41 0.00 0.00 -5.79 -5.25 -23
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 3.41 0.00 0.00 5.79 5.25 23
Long-Term Debt Interest Expense		 3.41 - - 5.79 5.25 23
Total Non-Interest Income		 73 68 332 528 253 257
Net Realized & Unrealized Capital Gains on Investments		 - -67 - 0.00 0.00 53
Other Non-Interest Income		 73 134 332 528 253 204
Total Non-Interest Expense		 77 107 176 200 271 373
Marketing Expense		 0.00 0.14 4.20 4.25 15 9.31
Property & Liability Insurance Claims		 - - - 92 93 193
Other Operating Expenses		 76 100 147 85 108 93
Depreciation Expense		 4.69 6.93 24 18 56 78
Nonoperating Income / (Expense), net		 - 0.25 3.75 20 56 46
Income Tax Expense		 0.00 -18 25 52 8.77 -28
Basic Earnings per Share		 ($0.10) ($0.27) $0.78 $1.64 $0.14 ($0.39)
Weighted Average Basic Shares Outstanding		 66.56M 79.69M 173.47M 176.52M 177.18M 166.84M
Diluted Earnings per Share		 ($0.10) ($0.27) $0.73 $1.52 $0.14 ($0.57)
Weighted Average Diluted Shares Outstanding		 66.56M 79.69M 189.84M 193.45M 178.15M 169.88M
Weighted Average Basic & Diluted Shares Outstanding		 66.56M 79.69M 177.52M 177.62M 178.08M 163.44M

Quarterly Income Statements for MP Materials

This table shows MP Materials' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 63 67 37 7.40 -4.28 -16 16 -34 -26 -22
Consolidated Net Income / (Loss)		 63 67 37 7.40 -4.28 -16 16 -34 -26 -22
Net Income / (Loss) Continuing Operations		 63 67 37 7.40 -4.28 -16 16 -34 -26 -22
Total Pre-Tax Income 		84 47 45 13 -4.48 -21 24 -48 -35 -34
Total Revenue		 124 88 -1.36 -1.39 -1.40 252 43 -6.75 -6.65 204
Net Interest Income / (Expense)		 0.00 -5.79 -1.36 -1.39 -1.40 -1.11 -2.86 -6.75 -6.65 -6.76
Total Interest Expense		 0.00 5.79 1.36 1.39 1.40 1.11 2.86 6.75 6.65 6.76
Long-Term Debt Interest Expense		 - - 1.36 1.39 1.40 1.11 2.86 6.75 6.65 6.76
Total Non-Interest Income		 124 94 0.00 0.00 0.00 253 46 0.00 0.00 211
Net Realized & Unrealized Capital Gains on Investments		 0.00 0.26 0.00 0.00 0.00 - 46 0.00 0.00 6.65
Total Non-Interest Expense		 47 52 -33 -0.48 18 287 32 53 40 248
Marketing Expense		 2.63 -1.96 3.61 3.10 2.87 5.35 4.21 1.89 2.05 1.16
Other Operating Expenses		 42 -44 51 48 50 -42 59 65 81 -111
Depreciation Expense		 2.10 5.59 8.12 12 17 19 18 18 19 22
Nonoperating Income / (Expense), net		 6.17 11 14 14 14 14 13 12 11 10
Income Tax Expense		 21 -20 7.85 5.52 -0.20 -4.40 7.14 -14 -9.35 -12
Basic Earnings per Share		 $0.36 $0.37 $0.21 $0.04 ($0.02) ($0.09) $0.09 ($0.21) ($0.16) ($0.11)
Weighted Average Basic Shares Outstanding		 176.54M 176.52M 176.88M 176.98M 177.23M 177.18M 174.56M 165.34M 164.15M 166.84M
Diluted Earnings per Share		 $0.33 $0.36 $0.20 $0.04 ($0.02) ($0.08) ($0.08) ($0.21) ($0.16) ($0.12)
Weighted Average Diluted Shares Outstanding		 193.41M 193.45M 193.61M 177.86M 177.23M 178.15M 186.79M 165.34M 164.15M 169.88M
Weighted Average Basic & Diluted Shares Outstanding		 177.54M 177.62M 177.62M 177.65M 177.82M 178.08M 165.32M 165.38M 163.21M 163.44M

Annual Cash Flow Statements for MP Materials

This table details how cash moves in and out of MP Materials' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 1.09 503 649 -1,038 121 19
Net Cash From Operating Activities		 -0.44 3.28 102 344 63 13
Net Cash From Continuing Operating Activities		 -0.44 3.28 102 344 63 13
Net Income / (Loss) Continuing Operations		 -6.76 -22 135 289 24 -65
Consolidated Net Income / (Loss)		 -6.76 -22 135 289 24 -65
Depreciation Expense		 4.69 6.93 24 18 56 78
Amortization Expense		 1.00 3.15 7.38 -5.92 -23 -26
Non-Cash Adjustments to Reconcile Net Income		 -1.28 53 -31 20 29 -3.36
Changes in Operating Assets and Liabilities, net		 1.91 -38 -34 22 -24 30
Net Cash From Investing Activities		 5.62 -22 -119 -1,357 69 10
Net Cash From Continuing Investing Activities		 5.62 -22 -119 -1,357 69 10
Purchase of Property, Leasehold Improvements and Equipment		 -2.27 -22 -124 -327 -262 -186
Purchase of Investment Securities		 - 0.00 0.00 -2,780 -1,195 -1,568
Sale of Property, Leasehold Improvements and Equipment		 7.90 0.00 0.13 0.00 0.02 0.00
Sale and/or Maturity of Investments		 0.00 0.00 4.38 1,749 1,523 1,764
Other Investing Activities, net		 - 0.00 0.00 0.00 2.80 0.00
Net Cash From Financing Activities		 -4.10 522 666 -24 -9.92 -4.79
Net Cash From Continuing Financing Activities		 -4.10 522 666 -24 -9.92 -4.79
Issuance of Debt		 7.24 39 690 0.00 0.00 748
Repayment of Debt		 -11 -20 -20 -5.83 -2.73 -452
Repurchase of Common Equity		 - - - 0.00 0.00 -225
Other Financing Activities, Net		 0.00 503 -3.71 -18 -7.19 -75

Quarterly Cash Flow Statements for MP Materials

This table details how cash moves in and out of MP Materials' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -231 -291 511 275 -380 -284 33 -0.46 -11 -1.99
Net Cash From Operating Activities		 95 29 55 9.97 11 -14 -41 31 -6.84 30
Net Cash From Continuing Operating Activities		 95 29 55 9.97 11 -14 -41 31 -6.84 30
Net Income / (Loss) Continuing Operations		 63 67 37 7.40 -4.28 -16 16 -34 -26 -22
Consolidated Net Income / (Loss)		 63 67 37 7.40 -4.28 -16 16 -34 -26 -22
Depreciation Expense		 2.10 5.59 8.12 12 17 19 18 18 19 22
Amortization Expense		 -2.03 -5.16 -7.96 -4.21 -2.52 -8.10 -7.58 -6.85 -6.38 -5.55
Non-Cash Adjustments to Reconcile Net Income		 8.22 7.12 7.24 6.07 6.83 9.11 -33 18 3.81 7.24
Changes in Operating Assets and Liabilities, net		 23 -45 11 -11 -5.77 -17 -36 35 1.89 29
Net Cash From Investing Activities		 -325 -315 462 266 -390 -269 41 -30 21 -22
Net Cash From Continuing Investing Activities		 -325 -315 462 266 -390 -269 41 -30 21 -22
Purchase of Property, Leasehold Improvements and Equipment		 -92 -112 -74 -56 -59 -73 -52 -46 -46 -42
Purchase of Investment Securities		 -759 -1,421 -321 - -384 -490 -391 -443 -317 -417
Sale and/or Maturity of Investments		 526 1,218 858 322 53 291 483 460 384 437
Net Cash From Financing Activities		 -0.65 -4.76 -6.82 -0.78 -0.98 -1.34 33 -1.55 -25 -11
Net Cash From Continuing Financing Activities		 -0.65 -4.76 -6.82 -0.78 -0.98 -1.34 33 -1.55 -25 -11
Repayment of Debt		 -0.65 -0.70 -0.85 -0.62 -0.63 -0.63 -445 -1.38 -0.57 -5.29
Other Financing Activities, Net		 - -4.06 -5.98 -0.16 -0.34 -0.71 -69 -0.18 -0.45 -5.54

Annual Balance Sheets for MP Materials

This table presents MP Materials' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 102 1,074 1,890 2,238 2,336 2,334
Cash and Due from Banks		 2.76 520 1,179 137 263 282
Trading Account Securities		 - - 0.00 1,046 734 568
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 46 502 611 936 1,158 1,251
Intangible Assets		 - - - 0.09 8.88 7.37
Other Assets		 26 44 100 120 172 224
Total Liabilities & Shareholders' Equity		 102 1,074 1,890 2,238 2,336 2,334
Total Liabilities		 120 220 881 925 971 1,279
Short-Term Debt		 7.71 24 20 36 28 24
Accrued Interest Payable		 - - - 57 74 65
Other Short-Term Payables		 24 19 40 4.05 6.62 76
Long-Term Debt		 0.00 0.96 675 678 682 909
Other Long-Term Liabilities		 89 176 146 149 180 206
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -18 854 1,009 1,313 1,366 1,055
Total Preferred & Common Equity		 -18 854 1,009 1,313 1,366 1,055
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -18 854 1,009 1,313 1,366 1,055
Common Stock		 23 916 936 951 980 961
Retained Earnings		 -41 -63 72 361 386 320
Treasury Stock		 - - - - 0.00 -227
Accumulated Other Comprehensive Income / (Loss)		 - - 0.00 0.19 0.15 0.17

Quarterly Balance Sheets for MP Materials

This table presents MP Materials' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 2,189 2,281 2,289 2,322 2,354 2,364 2,300
Cash and Due from Banks		 428 651 927 548 296 296 284
Trading Account Securities		 836 518 201 537 9.65 9.34 8.96
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 830 1,002 1,045 1,098 1,196 1,217 1,231
Intangible Assets		 - - - 9.18 8.58 8.28 7.97
Other Assets		 95 110 106 131 843 834 768
Total Liabilities & Shareholders' Equity		 2,189 2,281 2,289 2,322 2,354 2,364 2,300
Total Liabilities		 947 929 925 946 1,216 1,255 1,236
Short-Term Debt		 0.00 21 0.00 0.00 26 20 22
Accrued Interest Payable		 - - - - 74 75 66
Other Short-Term Payables		 75 73 75 97 7.42 63 59
Long-Term Debt		 678 679 680 681 936 937 938
Other Long-Term Liabilities		 195 156 161 168 173 161 151
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,242 1,352 1,365 1,376 1,138 1,109 1,065
Total Preferred & Common Equity		 1,242 1,352 1,365 1,376 1,138 1,109 1,065
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,242 1,352 1,365 1,376 1,138 1,109 1,065
Common Stock		 948 953 959 974 938 944 949
Retained Earnings		 294 399 406 402 402 368 343
Treasury Stock		 - - - - -203 -203 -227
Accumulated Other Comprehensive Income / (Loss)		 -0.10 0.13 -0.17 -0.03 -0.13 -0.09 0.30

Annual Metrics And Ratios for MP Materials

This table displays calculated financial ratios and metrics derived from MP Materials' official financial filings.

Metric 2019 2020 2021 2022 2023 2024
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% -3.44% 391.10% 57.17% -52.43% -5.82%
EBITDA Growth		 0.00% -2,680.02% 735.08% 77.49% -97.02% -982.10%
EBIT Growth		 0.00% -487.98% 493.94% 105.59% -107.14% -507.34%
NOPAT Growth		 0.00% -487.98% 574.39% 106.61% -106.20% -478.50%
Net Income Growth		 0.00% -223.09% 718.73% 114.02% -91.59% -369.16%
EPS Growth		 0.00% -170.00% 370.37% 108.22% -90.79% -507.14%
Operating Cash Flow Growth		 0.00% 849.89% 3,011.72% 236.87% -81.75% -78.71%
Free Cash Flow Firm Growth		 0.00% 0.00% 24.57% 92.50% -25.37% 86.04%
Invested Capital Growth		 0.00% 8,630.37% 93.70% 19.04% 2.38% -4.27%
Revenue Q/Q Growth		 0.00% 0.00% 56.66% -2.14% 177.76% -18.72%
EBITDA Q/Q Growth		 0.00% 0.00% 37.98% -6.87% -85.92% -3.92%
EBIT Q/Q Growth		 0.00% 0.00% 45.03% -5.43% -147.96% -7.18%
NOPAT Q/Q Growth		 0.00% 0.00% 19.71% 3.11% -133.04% -7.18%
Net Income Q/Q Growth		 0.00% 0.00% 22.58% 6.65% -77.40% -10.25%
EPS Q/Q Growth		 0.00% 0.00% -17.98% 7.04% -75.86% -7.55%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 37.69% -0.70% -40.61% 143.19%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -545.21% 24.51% 84.30%
Invested Capital Q/Q Growth		 0.00% 0.00% 2.15% 5.61% 0.90% -1.81%
Profitability Metrics		 - - - - - -
EBITDA Margin		 -1.52% -43.84% 56.70% 64.03% 4.01% -37.57%
EBIT Margin		 -9.65% -58.75% 47.13% 61.65% -9.26% -59.69%
Profit (Net Income) Margin		 -9.65% -32.29% 40.68% 55.39% 9.79% -27.99%
Tax Burden Percent		 100.01% 55.31% 84.30% 84.71% 73.49% 70.09%
Interest Burden Percent		 100.00% 99.37% 102.40% 106.07% -143.97% 66.90%
Effective Tax Rate		 0.00% 0.00% 15.70% 15.29% 26.51% 0.00%
Return on Invested Capital (ROIC)		 0.00% -6.40% 10.21% 14.61% -0.82% -4.81%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 29.64% 11.09% 16.95% 4.96% -0.88%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 1.18% 4.29% 10.29% 2.64% -0.60%
Return on Equity (ROE)		 37.48% -5.22% 14.50% 24.90% 1.82% -5.41%
Cash Return on Invested Capital (CROIC)		 0.00% -104.33% -53.59% -2.78% -3.17% -0.45%
Operating Return on Assets (OROA)		 -6.64% -6.75% 10.56% 15.58% -1.00% -5.98%
Return on Assets (ROA)		 -6.64% -3.71% 9.11% 14.00% 1.06% -2.80%
Return on Common Equity (ROCE)		 37.48% -5.22% 14.50% 24.90% 1.82% -5.41%
Return on Equity Simple (ROE_SIMPLE)		 37.48% -2.56% 13.39% 22.02% 1.78% -6.20%
Net Operating Profit after Tax (NOPAT)		 -4.73 -28 132 272 -17 -98
NOPAT Margin		 -6.75% -41.13% 39.73% 52.22% -6.80% -41.78%
Net Nonoperating Expense Percent (NNEP)		 26.28% -36.04% -0.88% -2.35% -5.78% -3.93%
SG&A Expenses to Revenue		 0.00% 0.21% 1.26% 0.81% 6.02% 3.98%
Operating Expenses to Revenue		 109.65% 158.75% 52.87% 38.35% 109.26% 159.69%
Earnings before Interest and Taxes (EBIT)		 -6.75 -40 156 322 -23 -140
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -1.07 -30 188 334 9.96 -88
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 1.62 8.00 3.28 2.58 2.41
Price to Tangible Book Value (P/TBV)		 0.00 1.62 8.00 3.28 2.60 2.43
Price to Revenue (P/Rev)		 4.29 20.52 24.32 8.26 14.22 10.89
Price to Earnings (P/E)		 0.00 0.00 59.79 14.92 145.21 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 1.67% 6.70% 0.69% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 1.01 4.46 2.41 1.92 1.61
Enterprise Value to Revenue (EV/Rev)		 3.97 13.08 22.86 9.37 16.02 13.67
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 40.32 14.64 399.38 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 48.51 15.20 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 57.54 17.94 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 269.76 74.42 14.23 63.42 239.41
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 -0.43 0.03 0.69 0.54 0.52 0.88
Long-Term Debt to Equity		 0.00 0.00 0.67 0.52 0.50 0.86
Financial Leverage		 -0.43 0.04 0.39 0.61 0.53 0.68
Leverage Ratio		 -5.65 1.41 1.59 1.78 1.71 1.93
Compound Leverage Factor		 -5.65 1.40 1.63 1.89 -2.46 1.29
Debt to Total Capital		 -74.84% 2.89% 40.77% 35.26% 34.20% 46.92%
Short-Term Debt to Total Capital		 -74.84% 2.78% 1.15% 1.80% 1.35% 1.19%
Long-Term Debt to Total Capital		 0.00% 0.11% 39.63% 33.46% 32.85% 45.73%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 174.84% 97.11% 59.23% 64.74% 65.80% 53.08%
Debt to EBITDA		 -7.24 -0.86 3.69 2.14 71.31 -10.62
Net Debt to EBITDA		 20.48 16.98 -2.58 1.73 44.86 -7.40
Long-Term Debt to EBITDA		 0.00 -0.03 3.59 2.03 68.50 -10.35
Debt to NOPAT		 -1.63 -0.91 5.27 2.62 -42.05 -9.55
Net Debt to NOPAT		 4.62 18.11 -3.68 2.12 -26.45 -6.65
Long-Term Debt to NOPAT		 0.00 -0.03 5.12 2.49 -40.39 -9.30
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - -
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -917 -692 -52 -65 -9.08
Operating Cash Flow to CapEx		 0.00% 14.65% 82.40% 105.18% 23.94% 7.16%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 -8.97 -12.38 -0.39
Operating Cash Flow to Interest Expense		 -0.13 0.00 0.00 59.37 11.93 0.58
Operating Cash Flow Less CapEx to Interest Expense		 1.52 0.00 0.00 2.92 -37.91 -7.52
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.69 0.11 0.22 0.25 0.11 0.10
Fixed Asset Turnover		 1.51 0.25 0.60 0.67 0.24 0.19
Capital & Investment Metrics		 - - - - - -
Invested Capital		 -10 879 1,703 2,028 2,076 1,987
Invested Capital Turnover		 -6.79 0.16 0.26 0.28 0.12 0.12
Increase / (Decrease) in Invested Capital		 0.00 890 824 324 48 -89
Enterprise Value (EV)		 278 884 7,588 4,889 3,976 3,196
Market Capitalization		 300 1,387 8,073 4,311 3,530 2,546
Book Value per Share		 ($0.27) $19.80 $5.68 $7.39 $7.68 $6.46
Tangible Book Value per Share		 ($0.27) $19.80 $5.68 $7.39 $7.63 $6.42
Total Capital		 -10 879 1,703 2,028 2,076 1,987
Total Debt		 7.71 25 694 715 710 932
Total Long-Term Debt		 0.00 0.96 675 678 682 909
Net Debt		 -22 -503 -485 578 447 650
Capital Expenditures (CapEx)		 -5.62 22 124 327 262 186
Net Nonoperating Expense (NNE)		 2.03 -5.97 -3.16 -17 -41 -32
Net Nonoperating Obligations (NNO)		 7.71 25 694 715 710 932
Total Depreciation and Amortization (D&A)		 5.69 10 32 12 33 52
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.27) $0.78 $1.64 $0.14 ($0.39)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 170.74M 173.47M 176.52M 177.18M 166.84M
Adjusted Diluted Earnings per Share		 $0.00 ($0.27) $0.73 $1.52 $0.14 ($0.57)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 170.74M 189.84M 193.45M 178.15M 169.88M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($0.27) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 79.69M 177.52M 177.62M 178.08M 163.44M
Normalized Net Operating Profit after Tax (NOPAT)		 -7.72 -28 132 272 -17 -98
Normalized NOPAT Margin		 -11.03% -41.13% 39.73% 52.22% -6.80% -41.78%
Pre Tax Income Margin		 -9.65% -58.38% 48.26% 65.39% 13.33% -39.93%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 -1.98 0.00 0.00 55.59 -4.37 -6.06
NOPAT to Interest Expense		 -1.39 0.00 0.00 47.09 -3.21 -4.24
EBIT Less CapEx to Interest Expense		 -0.33 0.00 0.00 -0.86 -54.22 -14.17
NOPAT Less CapEx to Interest Expense		 0.26 0.00 0.00 -9.36 -53.06 -12.35
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% -344.01%

Quarterly Metrics And Ratios for MP Materials

This table displays calculated financial ratios and metrics derived from MP Materials' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 24.75% -11.49% -100.82% -100.97% -101.12% 187.67% 3,294.11% -384.55% -376.07% -19.26%
EBITDA Growth		 28.89% -40.24% -73.48% -92.89% -106.02% -166.17% -31.43% -789.61% -607.13% -13.68%
EBIT Growth		 51.44% -33.81% -72.06% -100.96% -124.29% -196.13% -65.27% -6,526.73% -143.96% -26.90%
NOPAT Growth		 37.16% 5.15% -69.41% -100.73% -122.64% -147.29% -70.69% -7,999.40% -143.96% -26.90%
Net Income Growth		 47.74% 36.78% -56.23% -89.91% -106.77% -124.26% -55.97% -560.51% -496.73% -37.41%
EPS Growth		 43.48% 38.46% -55.56% -89.47% -106.06% -122.22% -140.00% -625.00% -700.00% -50.00%
Operating Cash Flow Growth		 320.35% -7.66% -54.13% -89.92% -88.34% -147.37% -174.11% 209.41% -162.10% 321.15%
Free Cash Flow Firm Growth		 85.00% 64.78% -163.41% -31.96% 22.42% 73.44% 84.48% 68.51% 100.63% 179.62%
Invested Capital Growth		 15.15% 19.04% 15.86% 10.70% 7.15% 2.38% 2.30% 0.99% -1.62% -4.27%
Revenue Q/Q Growth		 -13.32% -29.51% -101.45% -2.43% -0.29% 18,175.79% -78.80% -115.54% 1.47% 3,165.59%
EBITDA Q/Q Growth		 -21.77% -53.12% -13.14% -77.69% -166.29% -415.07% 190.01% -324.38% 32.03% 17.19%
EBIT Q/Q Growth		 -17.46% -53.64% -12.54% -102.88% -1,982.73% -83.47% 131.60% -648.81% 23.33% 4.56%
NOPAT Q/Q Growth		 -18.23% -12.17% -49.19% -101.99% -2,445.58% -83.47% 131.50% -650.61% 23.33% 4.56%
Net Income Q/Q Growth		 -13.77% 6.06% -44.11% -80.25% -157.82% -280.24% 201.41% -306.53% 25.07% 12.44%
EPS Q/Q Growth		 -13.16% 9.09% -44.44% -80.00% -150.00% -300.00% 0.00% -162.50% 23.81% 25.00%
Operating Cash Flow Q/Q Growth		 -4.38% -69.23% 90.72% -82.04% 10.56% -225.04% -198.43% 174.99% -122.19% 545.31%
Free Cash Flow Firm Q/Q Growth		 -29.16% -40.66% 6.67% 22.18% 24.06% 51.84% 45.48% -57.93% 101.52% 5,965.18%
Invested Capital Q/Q Growth		 3.92% 5.61% 1.22% -0.35% 0.59% 0.90% 1.14% -1.62% -2.01% -1.81%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 62.68% 41.69% 0.00% 0.00% 0.00% -9.59% 50.18% 0.00% 0.00% -13.50%
EBIT Margin		 62.63% 41.20% 0.00% 0.00% 0.00% -13.77% 25.29% 0.00% 0.00% -21.63%
Profit (Net Income) Margin		 50.77% 76.39% 0.00% 0.00% 0.00% -6.44% 37.99% 0.00% 0.00% -10.97%
Tax Burden Percent		 75.11% 142.30% 82.67% 57.27% 95.53% 78.71% 69.77% 70.72% 73.18% 65.79%
Interest Burden Percent		 107.91% 130.31% 143.33% -1,420.46% 23.64% 59.47% 215.32% 79.94% 75.49% 77.05%
Effective Tax Rate		 24.89% -42.30% 17.33% 42.73% 0.00% 0.00% 30.23% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 13.98% 16.40% 0.00% 0.00% 0.00% -1.17% 2.53% 0.00% 0.00% -1.74%
ROIC Less NNEP Spread (ROIC-NNEP)		 14.65% 18.61% 0.00% 0.00% 0.00% -0.04% 3.60% 0.00% 0.00% -0.71%
Return on Net Nonoperating Assets (RNNOA)		 9.27% 11.30% 0.00% 0.00% 0.00% -0.02% 2.40% 0.00% 0.00% -0.48%
Return on Equity (ROE)		 23.26% 27.69% 0.00% 0.00% 0.00% -1.18% 4.94% 0.00% 0.00% -2.22%
Cash Return on Invested Capital (CROIC)		 0.65% -2.78% -3.61% -3.29% -4.33% -3.17% -2.89% -4.49% -2.83% -0.45%
Operating Return on Assets (OROA)		 16.54% 10.41% 0.00% 0.00% 0.00% -1.49% 3.25% 0.00% 0.00% -2.17%
Return on Assets (ROA)		 13.40% 19.31% 0.00% 0.00% 0.00% -0.70% 4.89% 0.00% 0.00% -1.10%
Return on Common Equity (ROCE)		 23.26% 27.69% 0.00% 0.00% 0.00% -1.18% 4.94% 0.00% 0.00% -2.22%
Return on Equity Simple (ROE_SIMPLE)		 21.81% 0.00% 17.82% 12.82% 7.82% 0.00% 0.29% -3.44% -5.57% 0.00%
Net Operating Profit after Tax (NOPAT)		 59 51 26 -0.52 -13 -24 7.66 -42 -32 -31
NOPAT Margin		 47.04% 58.62% 0.00% 0.00% 0.00% -9.64% 17.64% 0.00% 0.00% -15.14%
Net Nonoperating Expense Percent (NNEP)		 -0.67% -2.21% -1.64% -1.17% -1.32% -1.13% -1.06% -0.99% -0.83% -1.04%
SG&A Expenses to Revenue		 2.11% -2.24% 0.00% 0.00% 0.00% 2.12% 9.69% 0.00% 0.00% 0.57%
Operating Expenses to Revenue		 37.37% 58.81% 0.00% 0.00% 0.00% 113.77% 74.71% 0.00% 0.00% 121.63%
Earnings before Interest and Taxes (EBIT)		 78 36 32 -0.91 -19 -35 11 -60 -46 -44
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 78 37 32 7.09 -4.70 -24 22 -49 -33 -28
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 3.90 3.28 3.70 2.98 2.47 2.58 2.23 1.90 2.74 2.41
Price to Tangible Book Value (P/TBV)		 3.90 3.28 3.70 2.98 2.48 2.60 2.25 1.91 2.76 2.43
Price to Revenue (P/Rev)		 9.09 8.26 13.90 18.88 37.97 14.22 8.53 7.19 10.15 10.89
Price to Earnings (P/E)		 17.89 14.92 20.78 23.22 31.54 145.21 759.26 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 5.59% 6.70% 4.81% 4.31% 3.17% 0.69% 0.13% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 2.65 2.41 2.46 1.87 1.71 1.92 1.53 1.34 1.78 1.61
Enterprise Value to Revenue (EV/Rev)		 9.56 9.37 14.04 17.74 39.47 16.02 10.76 9.44 12.50 13.67
Enterprise Value to EBITDA (EV/EBITDA)		 14.21 14.64 20.55 24.88 49.86 399.38 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 14.99 15.20 21.06 26.37 73.63 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 19.29 17.94 23.88 28.53 69.01 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.73 14.23 18.19 20.18 33.40 63.42 0.00 0.00 0.00 239.41
Enterprise Value to Free Cash Flow (EV/FCFF)		 437.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.55 0.54 0.52 0.50 0.50 0.52 0.85 0.86 0.90 0.88
Long-Term Debt to Equity		 0.55 0.52 0.50 0.50 0.50 0.50 0.82 0.84 0.88 0.86
Financial Leverage		 0.63 0.61 0.57 0.54 0.52 0.53 0.67 0.66 0.67 0.68
Leverage Ratio		 1.84 1.78 1.75 1.73 1.72 1.71 1.86 1.88 1.89 1.93
Compound Leverage Factor		 1.98 2.32 2.51 -24.60 0.41 1.02 4.01 1.50 1.43 1.49
Debt to Total Capital		 35.29% 35.26% 34.13% 33.26% 33.11% 34.20% 45.81% 46.30% 47.40% 46.92%
Short-Term Debt to Total Capital		 0.00% 1.80% 1.03% 0.00% 0.00% 1.35% 1.25% 0.96% 1.07% 1.19%
Long-Term Debt to Total Capital		 35.29% 33.46% 33.10% 33.26% 33.11% 32.85% 44.56% 45.35% 46.33% 45.73%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 64.71% 64.74% 65.87% 66.74% 66.89% 65.80% 54.19% 53.70% 52.60% 53.08%
Debt to EBITDA		 1.89 2.14 2.85 4.43 9.63 71.31 -34,347.29 -17.08 -11.35 -10.62
Net Debt to EBITDA		 0.70 1.73 0.20 -1.61 1.89 44.86 -23,759.14 -11.80 -7.99 -7.40
Long-Term Debt to EBITDA		 1.89 2.03 2.76 4.43 9.63 68.50 -33,413.75 -16.73 -11.09 -10.35
Debt to NOPAT		 2.56 2.62 3.31 5.08 13.33 -42.05 -75.16 -13.27 -10.53 -9.55
Net Debt to NOPAT		 0.94 2.12 0.23 -1.85 2.61 -26.45 -51.99 -9.17 -7.41 -6.65
Long-Term Debt to NOPAT		 2.56 2.49 3.21 5.08 13.33 -40.39 -73.12 -13.00 -10.29 -9.30
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -194 -273 -255 -198 -151 -73 -40 -62 0.95 58
Operating Cash Flow to CapEx		 103.06% 25.92% 74.52% 17.87% 18.78% -18.89% -79.34% 66.34% -14.74% 73.17%
Free Cash Flow to Firm to Interest Expense		 0.00 -47.17 -187.45 -142.41 -107.84 -65.49 -13.84 -9.26 0.14 8.54
Operating Cash Flow to Interest Expense		 0.00 5.03 40.83 7.16 7.89 -12.45 -14.39 4.57 -1.03 4.51
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -14.37 -13.96 -32.91 -34.15 -78.37 -32.54 -2.32 -8.02 -1.65
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.26 0.25 0.17 0.10 0.04 0.11 0.13 0.13 0.12 0.10
Fixed Asset Turnover		 0.75 0.67 0.43 0.24 0.09 0.24 0.27 0.26 0.25 0.19
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 1,920 2,028 2,052 2,045 2,057 2,076 2,099 2,065 2,024 1,987
Invested Capital Turnover		 0.30 0.28 0.19 0.11 0.04 0.12 0.14 0.14 0.14 0.12
Increase / (Decrease) in Invested Capital		 253 324 281 198 137 48 47 20 -33 -89
Enterprise Value (EV)		 5,096 4,889 5,056 3,817 3,527 3,976 3,208 2,765 3,594 3,196
Market Capitalization		 4,847 4,311 5,007 4,064 3,393 3,530 2,543 2,104 2,919 2,546
Book Value per Share		 $7.00 $7.39 $7.61 $7.68 $7.75 $7.68 $6.52 $6.71 $6.44 $6.46
Tangible Book Value per Share		 $7.00 $7.39 $7.61 $7.68 $7.69 $7.63 $6.47 $6.66 $6.39 $6.42
Total Capital		 1,920 2,028 2,052 2,045 2,057 2,076 2,099 2,065 2,024 1,987
Total Debt		 678 715 700 680 681 710 962 956 959 932
Total Long-Term Debt		 678 678 679 680 681 682 936 937 938 909
Net Debt		 250 578 49 -247 133 447 665 661 675 650
Capital Expenditures (CapEx)		 92 112 74 56 59 73 52 46 46 42
Net Nonoperating Expense (NNE)		 -4.63 -16 -11 -7.92 -8.98 -8.06 -8.83 -8.11 -6.81 -8.51
Net Nonoperating Obligations (NNO)		 678 715 700 680 681 710 962 956 959 932
Total Depreciation and Amortization (D&A)		 0.06 0.44 0.16 8.00 14 11 11 11 13 17
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.36 $0.37 $0.21 $0.04 ($0.02) ($0.09) $0.09 ($0.21) ($0.16) ($0.11)
Adjusted Weighted Average Basic Shares Outstanding		 176.54M 176.52M 176.88M 176.98M 177.23M 177.18M 174.56M 165.34M 164.15M 166.84M
Adjusted Diluted Earnings per Share		 $0.33 $0.36 $0.20 $0.04 ($0.02) ($0.08) ($0.08) ($0.21) ($0.16) ($0.12)
Adjusted Weighted Average Diluted Shares Outstanding		 193.41M 193.45M 193.61M 177.86M 177.23M 178.15M 186.79M 165.34M 164.15M 169.88M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 177.54M 177.62M 177.62M 177.65M 177.82M 178.08M 165.32M 165.38M 163.21M 163.44M
Normalized Net Operating Profit after Tax (NOPAT)		 59 25 -53 -37 -50 -24 -26 -64 -76 -31
Normalized NOPAT Margin		 47.04% 28.84% 0.00% 0.00% 0.00% -9.64% -60.61% 0.00% 0.00% -15.14%
Pre Tax Income Margin		 67.59% 53.68% 0.00% 0.00% 0.00% -8.19% 54.44% 0.00% 0.00% -16.67%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 6.25 23.25 -0.65 -13.56 -31.38 3.84 -8.93 -6.95 -6.52
NOPAT to Interest Expense		 0.00 8.89 19.23 -0.37 -9.49 -21.96 2.68 -6.25 -4.86 -4.56
EBIT Less CapEx to Interest Expense		 0.00 -13.16 -31.54 -40.72 -55.60 -97.29 -14.30 -15.82 -13.94 -12.68
NOPAT Less CapEx to Interest Expense		 0.00 -10.52 -35.57 -40.44 -51.54 -87.88 -15.46 -13.14 -11.85 -10.72
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -344.01%

Financials Breakdown Chart

Key Financial Trends

MP Materials Corp. (NYSE: MP) has experienced significant financial fluctuations over the last four years, with notable trends in income, cash flow, and balance sheet items. Here's an analysis highlighting key points from recent quarterly financial statements and annual trends.

  • MP showed substantial net income in early 2023, with Q1 2023 net income of $37.4 million and Q2 2023 net income of $7.4 million, signaling profitable quarters during that period.
  • The company’s total assets have steadily grown from about $2.18 billion in Q3 2022 to over $2.3 billion by Q3 2024, reflecting ongoing investment and expansion.
  • Operating cash flow improved significantly in the second quarter of 2023 and Q2 2024, with net cash provided by operating activities of $30.8 million in Q2 2024, indicating improving core business cash generation.
  • MP has been actively managing its long-term debt, with repayments occurring each quarter, e.g., $5.3 million in Q4 2024 and $444.5 million repaid in Q1 2024, which reduces interest obligations and financial risk.
  • The company reported net interest expenses, largely driven by long-term debt interest expense, which increased to $6.76 million in Q4 2024, highlighting ongoing financing costs.
  • Depreciation and amortization expenses have been substantial, averaging around $20 million a quarter, reflecting heavy capital investment and asset base.
  • There are large fluctuations in "Other Operating Expenses" and "Other Special Charges," with significant negative values in several quarters, indicating non-recurring or unusual costs impacting profitability and cash flow.
  • MP has reported net losses in most quarters of 2024, including a net loss of $22.3 million in Q4 2024 and $25.5 million in Q3 2024, suggesting earnings pressure in the recent period.
  • Q4 2023 showed a significant $162.6 million net loss, marking a worsening profitability trend compared to earlier 2023 quarters.
  • Investing activities consistently result in net cash outflows, largely due to frequent purchases of property, plant, and equipment and investment securities, with Q4 2024 investing activity cash outflow about $21.6 million, which pressures free cash flow generation.

In summary, MP Materials has been investing heavily in its asset base and has managed to grow its total assets steadily. While the company showed profitable results earlier in 2023, recent quarters have been marked by recurring losses, high operating expenses, and significant investment outflows impacting cash flows. Long-term debt levels remain high, though active repayment is underway. Investors should watch future earnings trends and cash flow improvements as key indicators of financial health recovery for MP.

10/24/25 01:38 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About MP Materials' Financials

When does MP Materials' financial year end?

According to the most recent income statement we have on file, MP Materials' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has MP Materials' net income changed over the last 5 years?

Over the last 5 years, MP Materials' net income changed from -$6.76 million in 2019 to -$65.42 million in 2024, a change of 868.5%. Check out MP Materials' forecast to explore projected trends and price targets.

How has MP Materials' revenue changed over the last 5 years?

Over the last 5 years, MP Materials' total revenue changed from $70.00 million in 2019 to $233.76 million in 2024, a change of 233.9%.

How much debt does MP Materials have?

MP Materials' total liabilities were at $1.28 billion at the end of 2024, a 31.7% increase from 2023, and a 967.2% increase since 2019.

How much cash does MP Materials have?

In the past 5 years, MP Materials' cash and equivalents has ranged from $2.76 million in 2019 to $1.18 billion in 2021, and is currently $282.44 million as of their latest financial filing in 2024.

How has MP Materials' book value per share changed over the last 5 years?

Over the last 5 years, MP Materials' book value per share changed from -0.27 in 2019 to 6.46 in 2024, a change of -2,486.8%.


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This page (NYSE:MP) was last updated on 10/24/2025 by MarketBeat.com Staff
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