InsiderClue
Stocks · Materials · Metal Mining

MP Materials Corp. / DE

MP Clue Score30
United States Fiscal year ends December CIK 0001801368
$43.36 -6.03% Close, 12 Oct 2026
Alert on the numbers Alert on insider trades
Price $43.36 +35.54% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 22 Jun 2020. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue73.0Operating income−7.6Net income−6.8EPS, diluted−0.10Fiscal year 2020Revenue134.3 +83.9%Operating income−34.7Net income−21.8EPS, diluted−0.27Fiscal year 2021Revenue332.0 +147.2%Operating income165.3Net income135.0EPS, diluted0.73Fiscal year 2022Revenue527.5 +58.9%Operating income327.4Net income289.0 +114.0%EPS, diluted1.52Fiscal year 2023Revenue253.4 −52.0%Operating income−17.7Net income24.3 −91.6%EPS, diluted0.14Fiscal year 2024Revenue203.9 −19.6%Operating income−169.4Net income−65.4 −369.2%EPS, diluted−0.57Fiscal year 2025Revenue224.4 +10.1%Operating income−149.4Net income−85.9EPS, diluted−0.50
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 73.0 134.3 332.0 527.5 253.4 203.9 224.4
Growth +83.9% +147.2% +58.9% −52.0% −19.6% +10.1%
Operating income −7.6 −34.7 165.3 327.4 −17.7 −169.4 −149.4
Net income −6.8 −21.8 135.0 289.0 24.3 −65.4 −85.9
Growth +114.0% −91.6% −369.2%
EPS, diluted −0.10 −0.27 0.73 1.52 0.14 −0.57 −0.50

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2019Operating margin−10.4%Net margin−9.3%Free cash flow margin−3.7%Fiscal year 2020Operating margin−25.8%Net margin−16.2%Free cash flow margin−14.2%Fiscal year 2021Operating margin49.8%Net margin40.7%Free cash flow margin−6.6%Fiscal year 2022Operating margin62.1%Net margin54.8%Free cash flow margin3.2%Fiscal year 2023Operating margin−7.0%Net margin9.6%Free cash flow margin−78.6%Fiscal year 2024Operating margin−83.1%Net margin−32.1%Free cash flow margin−84.9%Fiscal year 2025Operating margin−66.6%Net margin−38.3%Free cash flow margin−146.2%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −10.4% −25.8% 49.8% 62.1% −7.0% −83.1% −66.6%
Net margin −9.3% −16.2% 40.7% 54.8% 9.6% −32.1% −38.3%
Free cash flow margin −3.7% −14.2% −6.6% 3.2% −78.6% −84.9% −146.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow−0.4Capital expenditure−2.3Free cash flow−2.7Fiscal year 2020Operating cash flow3.3Capital expenditure−22.4Free cash flow−19.1Fiscal year 2021Operating cash flow102.0Capital expenditure−123.9Free cash flow−21.9Fiscal year 2022Operating cash flow343.5Capital expenditure−326.6Free cash flow16.9Buybacks0.0Fiscal year 2023Operating cash flow62.7Capital expenditure−261.9Free cash flow−199.2 −1,277.4%Buybacks0.0Fiscal year 2024Operating cash flow13.3Capital expenditure−186.4Free cash flow−173.1Buybacks−225.1Fiscal year 2025Operating cash flow−155.8Capital expenditure−172.4Free cash flow−328.1Buybacks0.0
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −0.4 3.3 102.0 343.5 62.7 13.3 −155.8
Capital expenditure −2.3 −22.4 −123.9 −326.6 −261.9 −186.4 −172.4
Free cash flow −2.7 −19.1 −21.9 16.9 −199.2 −173.1 −328.1
Growth −1,277.4%
Buybacks n/a n/a n/a 0.0 0.0 −225.1 0.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash2.8Shareholders’ equity−18.0Fiscal year 2020Cash519.7Total debt3.4Net cash (debt)516.3Shareholders’ equity853.9Debt to equity0.00Fiscal year 2021Cash1,179.3Total debt674.9Net cash (debt)504.4Shareholders’ equity1,008.7Debt to equity0.67Fiscal year 2022Cash136.6Total debt678.4Net cash (debt)−541.8Shareholders’ equity1,312.6Debt to equity0.52Fiscal year 2023Cash263.4Total debt682.0Net cash (debt)−418.6Shareholders’ equity1,365.8Debt to equity0.50Fiscal year 2024Cash282.4Total debt908.7Net cash (debt)−626.3Shareholders’ equity1,054.9Debt to equity0.86Fiscal year 2025Cash1,166.0Total debt998.7Net cash (debt)167.3Shareholders’ equity1,978.8Debt to equity0.50
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 2.8 519.7 1,179.3 136.6 263.4 282.4 1,166.0
Total debt n/a 3.4 674.9 678.4 682.0 908.7 998.7
Net cash (debt) n/a 516.3 504.4 −541.8 −418.6 −626.3 167.3
Shareholders’ equity −18.0 853.9 1,008.7 1,312.6 1,365.8 1,054.9 1,978.8
Debt to equity n/a 0.00 0.67 0.52 0.50 0.86 0.50

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021† 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
73.0 134.3 332.0 527.5 253.4 203.9 224.4
Growth +83.9% +147.2% +58.9% −52.0% −19.6% +10.1%
11.1 26.8 56.6 75.9 79.2 83.3 112.1
−7.6 −34.7 165.3 327.4 −17.7 −169.4 −149.4
Growth +98.0% −105.4%
−6.8 −39.5 160.2 341.2 33.1 −93.3 −117.8
0.0 −17.6 25.2 52.1 8.8 −27.9 −31.9
−6.8 −21.8 135.0 289.0 24.3 −65.4 −85.9
Growth +114.0% −91.6% −369.2%
Per share
−0.10 −0.27 0.78 1.64 0.14 −0.39 −0.50
−0.10 −0.27 0.73 1.52 0.14 −0.57 −0.50
Growth +108.2% −90.8% −507.1%
66.6 79.7 173.5 176.5 177.2 166.8 170.1
66.6 79.7 189.8 193.5 178.2 169.9 170.1
Growth +19.7% +138.2% +1.9% −7.9% −4.6% +0.1%

† The diluted share count jumps at 2021, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 10.8% a year over five years.
  • Operating margin is down 40.7 points on five years ago, at -66.6%.
  • A net loss in 4 of 7 years on file.