MP Materials (MP) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

MP Materials

NYSE•Basic Materials•Other Industrial Metals & Mining

$47.26-2.12(-0.04%)Market closed

Market Cap

$8.43B

P/S

27.6x

P/B

4.3x

MP Materials Corp., together with its subsidiaries, produces rare earth materials in the Western Hemisphere. It operates in two segments, Materials and Magnetics. The Materials segment owns and operates the Mountain Pass Rare Earth Mine and Processing facility located near Mountain Pass, San Bernardino County, California. The Magnetics segment produces magnetic precursor products, including NdPr metal; and manufactures NdFeB permanent magnets. MP Materials Corp. was founded in 2017 and is headquartered in Las Vegas, Nevada.

How this company scores

AverageMetricSide Score: 56/100

Strongest: Growth (20/25); weakest: Cash & Earnings Quality (8/25).

Profitability10/25

Growth20/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality8/25

Strengths

Growing revenueLow leverageCash-backed earningsProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 786.0x5y range 14.8x – 786.0x

Currently above its 11-quarter median.

P/S · 27.6x5y range 8.1x – 51.3x

Currently above its 20-quarter median.

P/B · 4.3x5y range 1.9x – 9.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $8.43B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $305.38M
Q. Revenue: $108.49M
TTM EBITDA: $-12.24M
TTM Op. Income: $-126.86M
Q. Op. Income: $-32.03M
TTM Net Income: $-60.62M
Q. Net Income: $-20.30M
EPS: $-0.11
Shares Out.: $178.41M

$305.38M in TTM revenue grew 26.1% YoY, reaching $108.49M last quarter. TTM EBITDA of $-12.24M and TTM operating income of $-126.86M show growth is flowing through to the bottom line. However, net income is negative at $60.62M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 33.4%
EBITDA Margin: 3.1%
Op. Margin: -29.5%
Net Margin: -18.7%

Op. margin of -29.5% is up 46.9% YoY — cost efficiency is improving. Net margin at -18.7% and gross margin of 33.4% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 27.6x
P/B Ratio: 4.3x

P/S of 27.6x and P/B of 4.3x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $3.73B
Cash: $429.07M
Long-Term Debt: $934.58M
Book Value: $1.96B
D/E Ratio: 0.5
Debt/EBITDA: 279.0

With $3.73B in assets and $934.58M in long-term debt, D/E is 0.5and book value is $1.96B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $6.85M
TTM Free Cash Flow: $-504.58M
FCF Margin: -165.2%
FCF / Net Income: 8.3

TTM FCF of $-504.58M on $6.85M in operating cash flow. The FCF / Net Income ratio of 8.3x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 164% — a weakening trend.