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MP Materials Corp. / DE (MP) stock

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NYSE: MP NYSE Diversified Metals & Mining Next results ~November 5, 2026

C Fundamentals grade

MP Materials Corp. / DE is a US-listed company in the diversified metals & mining industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for MP Materials Corp. / DE is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: free cash flow after stock pay is not positive. We'll show the comparison once resolved.

MP Materials Corp. / DE valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 3 selling2 purchases and 32 sales by directors and officers, last 12 monthsInsider trades
  • Funds408 adding, 281 cuttingOf 61 active managers that changed their stake, 25 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter MP Materials Corp. / DE files

Where MP Materials stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $305m, up 26.1% on a year earlier, faster than 17.7% a quarter earlier. That growth ranks 120 of 931 among all the companies we cover. Free-cash-flow margin fell to -165.2% from -78.8% a year earlier. Operating margin widened to -41.5% from -67.0%. The diluted share count is up 8.3% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 3 of our 7 financial-health checks.

Our model value for MP Materials Corp. / DE is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

MP Materials Corp. / DE's trailing-twelve-month revenue grew 26.1% year on year, with a free-cash-flow margin of -165.2%.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 164.5% while net income grew 40.2%: a 205pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 26.1% over the last 12 months, against a median of 14.6% for diversified metals & mining companies we cover.
  • Growth speeding up. The growth rate is 8.4 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 25.4 points on a year ago.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -41.5%: costs exceed revenue.
  • Burning cash. Free cash flow was -165.2% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 8.3% in a year.
  • High debt. Long-term debt exceeds cash by $0.5bn, more than 1.5 times annual revenue.
  • High sales multiple. The shares trade at 22 times revenue while operating margins remain thin.

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
-$0.01 against an average estimate of -$0.00: missed by 173.2%
Revenue
$108m, up 89.0% on a year earlier
Share reaction
+6.7% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 5, 2026; average EPS estimate -$0.01

MP Materials Corp. / DE's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.1%
  • 1 week+2.3%
  • 1 month-18.4%
  • This year-24.1%
  • 1 year-39.2%
  • 5 years+9.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$305M
Operating margin
-41.5%
Net margin
-19.9%
EPS (TTM, diluted)
$-0.34

Growth

Revenue growth
+26.1%
Change in growth rate
+8.4 pts
Share count change
+8.3%

Cash

Free cash flow (TTM)
-$505M
FCF margin
-165.2%
Stock pay % of revenue
13.6%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

MP Materials Corp. / DE valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: free cash flow after stock pay is not positive.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value MP Materials Corp. / DE as an operating company, with every model that fits that kind of business. Cost of equity 10.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.32 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$7.4 ~$3.4–$11 Left out: out of range vs price (0.19x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$6.8 ~$6.0–$16 Left out: out of range vs price (0.18x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$4.3 ~$2.8–$6.5 Left out: out of range vs price (0.11x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$1.7 ~$1.5–$2.0 Left out: out of range vs price (0.05x)
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$6.9 ~$5.4–$18 Left out: out of range vs price (0.18x)
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare MP Materials Corp. / DE with Diversified Metals & Mining in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$32.17$45.42$24.28$19.85$15.60$50.52$38.35
Market value$2.6bn$8.6bn$4.7bn$3.5bn$2.7bn$8.6bn$6.8bn
+ Net debt (− = net cash)−$516m−$504m$542m$427m$648m−$86m$584m
Enterprise value$2.0bn$8.1bn$5.2bn$4.0bn$3.3bn$8.5bn$7.4bn
Multiples
Price / sales 19.1x26.0x8.9x14.0x13.0x38.3x22.3x
Price / earnings —63.9x16.3x145.5x———
Price / free cash flow ——n/m————
EV / EBITDA —42.8x15.2x104.3x———

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

19 /100

Weak moat

How hard MP Materials Corp. / DE's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.5% of total assets over 6 years.

  • Durability 10 / 20

    Operating margin has been a median -2.7%; its worst year was -78.9%.

  • Cash conversion 2 / 20

    Free cash flow was positive in 1 of 6 years, at a median -58.6% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $119m and EPS of −$0.01 (range −$0.08 to $0.11) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.00 +99% $451m +101%
Next $0.78 +24682% $791m +75%

Next year's EPS estimate has moved −18.9% in 90 days, across 15 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −101.8% on 90 days ago. In the last 30 days, 0 analysts raised MP Materials Corp. / DE's forecast and 2 cut it.

Consensus EPS forecast MP Materials Corp. / DE, last 90 days
−$0.50 $0.00 $0.50 $1.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.18 Current fiscal year, 60 days ago: −$0.01 Current fiscal year, 30 days ago: $0.03 Current fiscal year, 7 days ago: $0.01 Current fiscal year, Now: −$0.00 −$0.00 Next fiscal year, 90 days ago: $0.96 Next fiscal year, 60 days ago: $0.86 Next fiscal year, 30 days ago: $0.85 Next fiscal year, 7 days ago: $0.81 Next fiscal year, Now: $0.78 $0.78

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.18$0.96
60 days ago −$0.01$0.86
30 days ago $0.03$0.85
7 days ago $0.01$0.81
Now −$0.00$0.78

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.00 −$0.01 −173.2%
Mar 2026 −$0.04 $0.03 +174.6%
Dec 2025 $0.02 $0.09 +490.9%
Sept 2025 −$0.16 −$0.10 +38.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026

No numeric guidance in MP Materials Corp. / DE's latest earnings release (filed August 6, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

19 analysts, Oct 2026
Buy1895%
Hold15%
Sell00%

Monthly trend

  1. Oct 202651319
  2. Sep 202651319
  3. Aug 202651318
  4. Jul 202651318

Counts of recommendations published by analysts covering MP Materials Corp. / DE, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
22.1%
of tradable shares
Days to cover
6.49
at average volume
Short interest, 1 month
+8%
to October 15, 2026
Held by institutions
78%
of shares
Held by insiders
19.6%
of shares
Employees
998
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −39.2%

$63.09 on October 31, 2025 to $38.35

ThenNowEffect
Revenue (last 12 months) $242m $305m +26.1%
P/S multiple 42.7x 22.3x −47.8%
Share count 164m 177m −7.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +133.6%

$16.42 on November 3, 2023 to $38.35

ThenNowEffect
Revenue (last 12 months) $377m $305m −19.1%
P/S multiple 8.2x 22.3x +170.0%
Share count 190m 177m +6.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MP+41%−47%−18%−21%+224%−24%
Industry peers (median)+22%−24%−1%−24%+47%−47%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MP50%58%42%50%58%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MP−50%−59%−59%−47%−49%−48%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since June 22, 2020: 82% from April 4, 2022 to August 7, 2024. Getting back needed a 455% gain, reached on July 16, 2025, 343 days after the low.

Price behaviour

52-week range
$37.47 – $72.65
From 52-week high
−47.2%
vs 50-day average
−19.3%
vs 200-day average
−30.4%
Volatility (1 year)
70%
Beta vs S&P 500
2.59

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±6.4%
After a week
5 up, 7 down
typical move ±8.3%
After a month
7 up, 5 down
typical move ±10.6%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +6.7% +0.5% +16.2% +13.8%
May 7, 2026 −7.2% +0.5% −17.0% −20.7%
February 26, 2026 +0.4% −1.0% −0.3% −11.7%
November 6, 2025 +6.7% −1.0% +4.8% +11.4%
August 7, 2025 +10.1% +0.7% +13.4% −7.1%
May 8, 2025 −7.1% +0.6% −9.7% +17.2%
February 20, 2025 +5.7% −2.1% +2.0% +12.7%
November 7, 2024 −0.9% +1.2% −5.6% +4.3%
August 1, 2024 −17.4% −3.3% −18.9% −4.6%
May 2, 2024 −3.1% +2.2% +2.6% +1.4%
February 22, 2024 −6.8% +2.1% −5.5% −15.1%
November 2, 2023 +4.1% +2.8% −3.1% +7.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

MP Materials Corp. / DE in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) MP Materials Corp. / DE
$150M $200M $250M $300M $350M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $305.5M Revenue (TTM), FY23 Q4: $253.4M Revenue (TTM), FY24 Q1: $206.4M Revenue (TTM), FY24 Q2: $173.7M Revenue (TTM), FY24 Q3: $184.1M Revenue (TTM), FY24 Q4: $203.9M Revenue (TTM), FY25 Q1: $216M Revenue (TTM), FY25 Q2: $242.1M Revenue (TTM), FY25 Q3: $232.7M Revenue (TTM), FY25 Q4: $224.4M Revenue (TTM), FY26 Q1: $254.3M Revenue (TTM), FY26 Q2: $305.4M $305.4M

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $305.5M
FY23 Q4 $253.4M
FY24 Q1 $206.4M
FY24 Q2 $173.7M
FY24 Q3 $184.1M
FY24 Q4 $203.9M
FY25 Q1 $216M
FY25 Q2 $242.1M
FY25 Q3 $232.7M
FY25 Q4 $224.4M
FY26 Q1 $254.3M
FY26 Q2 $305.4M
Revenue growth, TTM YoY MP Materials Corp. / DE
-100% -50% 0% 50% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -42.7% Revenue growth, TTM YoY, FY23 Q4: -52.0% Revenue growth, TTM YoY, FY24 Q1: -54.8% Revenue growth, TTM YoY, FY24 Q2: -54.0% Revenue growth, TTM YoY, FY24 Q3: -39.7% Revenue growth, TTM YoY, FY24 Q4: -19.6% Revenue growth, TTM YoY, FY25 Q1: 4.6% Revenue growth, TTM YoY, FY25 Q2: 39.4% Revenue growth, TTM YoY, FY25 Q3: 26.4% Revenue growth, TTM YoY, FY25 Q4: 10.1% Revenue growth, TTM YoY, FY26 Q1: 17.7% Revenue growth, TTM YoY, FY26 Q2: 26.1% 26.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -42.7%
FY23 Q4 -52.0%
FY24 Q1 -54.8%
FY24 Q2 -54.0%
FY24 Q3 -39.7%
FY24 Q4 -19.6%
FY25 Q1 4.6%
FY25 Q2 39.4%
FY25 Q3 26.4%
FY25 Q4 10.1%
FY26 Q1 17.7%
FY26 Q2 26.1%
Operating margin (TTM) MP Materials Corp. / DE
-100% -50% 0% 50% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 17.5% Operating margin (TTM), FY23 Q4: -7.0% Operating margin (TTM), FY24 Q1: -40.3% Operating margin (TTM), FY24 Q2: -78.9% Operating margin (TTM), FY24 Q3: -86.4% Operating margin (TTM), FY24 Q4: -83.1% Operating margin (TTM), FY25 Q1: -79.5% Operating margin (TTM), FY25 Q2: -67.0% Operating margin (TTM), FY25 Q3: -81.5% Operating margin (TTM), FY25 Q4: -66.6% Operating margin (TTM), FY26 Q1: -54.6% Operating margin (TTM), FY26 Q2: -41.5% -41.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 17.5%
FY23 Q4 -7.0%
FY24 Q1 -40.3%
FY24 Q2 -78.9%
FY24 Q3 -86.4%
FY24 Q4 -83.1%
FY25 Q1 -79.5%
FY25 Q2 -67.0%
FY25 Q3 -81.5%
FY25 Q4 -66.6%
FY26 Q1 -54.6%
FY26 Q2 -41.5%
FCF margin (TTM) MP Materials Corp. / DE
-200% -150% -100% -50% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -64.0% FCF margin (TTM), FY23 Q4: -78.6% FCF margin (TTM), FY24 Q1: -132.3% FCF margin (TTM), FY24 Q2: -139.9% FCF margin (TTM), FY24 Q3: -135.1% FCF margin (TTM), FY24 Q4: -84.9% FCF margin (TTM), FY25 Q1: -80.5% FCF margin (TTM), FY25 Q2: -78.8% FCF margin (TTM), FY25 Q3: -98.8% FCF margin (TTM), FY25 Q4: -146.2% FCF margin (TTM), FY26 Q1: -123.4% FCF margin (TTM), FY26 Q2: -165.2% -165.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -64.0%
FY23 Q4 -78.6%
FY24 Q1 -132.3%
FY24 Q2 -139.9%
FY24 Q3 -135.1%
FY24 Q4 -84.9%
FY25 Q1 -80.5%
FY25 Q2 -78.8%
FY25 Q3 -98.8%
FY25 Q4 -146.2%
FY26 Q1 -123.4%
FY26 Q2 -165.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 73 134 332 528 253 204 224 305
EBITDA −3 −28 190 346 38 −91 −60 −12
Operating income −8 −35 165 327 −18 −169 −149 −127
Net income −7 −22 135 289 24 −65 −86 −61
Diluted EPS −$0.10 −$0.27 $0.73 $1.52 $0.14 −$0.57 −$0.50 −$0.34
Growth (year on year)
Revenue — +83.0% +147.2% +58.9% −52.0% −19.6% +10.1% +26.1%
EBITDA — — — +82.2% −89.0% −340.5% — —
Operating income — — — +98.0% −105.4% — — —
Net income — — — +114.0% −91.6% −369.2% — —
Diluted EPS — — — +108.2% −90.8% −507.1% — —
Margins
EBITDA margin −4.0% −20.7% 57.2% 65.5% 15.0% −44.8% −26.8% −4.0%
Operating margin −10.4% −25.8% 49.8% 62.1% −7.0% −83.1% −66.6% −41.5%
Net margin −9.2% −16.2% 40.7% 54.8% 9.6% −32.1% −38.3% −19.9%
Free-cash-flow margin −3.7% −14.2% −6.6% 3.2% −78.6% −84.9% −146.2% −165.2%
Cash flow
Cash from operations −0 3 102 344 63 13 −156 −84
Capital spending 2 22 124 327 262 186 172 421
Free cash flow −3 −19 −22 17 −199 −173 −328 −505
Stock-based pay 0 5 23 32 25 23 30 41
Free cash flow after stock pay −3 −24 −45 −15 −224 −196 −358 −546
Balance sheet
Cash 3 520 1,179 137 263 282 1,166 429
Total debt 0 3 675 678 690 930 1,080 1,013
Net debt (negative = net cash) −3 −516 −504 542 427 648 −86 584
Diluted shares 67m 80m 190m 193m 178m 170m 170m 177m
Returned to shareholders
Buybacks — — — 0 0 225 0 —
Total returned — — — 0 0 225 0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 7 checks passed · June 30, 2026
What it owns · $3.7bn
Short-term assets $1.7bnLonger-term assets $2.0bn
What it owes, and who funded it · $3.3bn
Short-term liabilities $184mLonger-term liabilities $1.2bnShareholders' equity $2.0bn
  • Short-term assets cover short-term liabilities $1.7bn of assets due within a year against $184m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.7bn short-term assets against $1.2bn of longer-dated liabilities.
  • More cash than debt $429m of cash against $935m of debt.
  • Debt below 40% of shareholders' equity Debt is 48% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 67% to 48% over five years.
  • A year's operating cash flow covers at least 20% of debt −$84m of operating cash flow against $935m of debt.
  • Operating profit covers interest at least five times over Operating income of −$127m against $38m of interest.

From MP Materials Corp. / DE's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$0
Returned to shareholders
0%
of free cash flow
Buybacks, last 3 fiscal years
$225M
Diluted share count
+8.3%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
Sales & admin spending
42.3%
of revenue
Days sales outstanding
48 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in diversified metals & mining
Last 12 months unless stated MP LEU USAS LGO UUUU CMP Median
Revenue, last 12 months $305m $474m $118m $110m $106m $1.3bn $118m
Revenue growth, last 12 months 26.1% 8.5% 17.7% −12.0% 62.5% 5.5% 14.6%
Revenue growth, 3-year average −6.8% 13.4% — — 52.9% 1.9% 13.4%
Revenue growth, latest quarter 89.0% 14.0% — — 496.1% 0.3% 7.2%
Gross margin — 23.7% 28.0% 52.2% 40.9% 17.2% 24.6%
Operating margin −41.5% 1.6% — — −91.0% 8.9% −5.3%
Operating margin, 3-year average −62.5% 11.0% — — −98.6% 0.1% −23.9%
Net margin −19.9% 10.2% −74.1% −62.3% −77.3% 1.4% −36.1%
Cash from operations / revenue −27.5% −11.6% −3.3% −9.3% −59.1% 12.1% −9.3%
Free-cash-flow margin −165.2% −34.6% −62.1% −34.3% −78.0% 6.0% −48.3%
Free-cash-flow margin, 3-year average −128.0% −3.1% −71.2% — −105.2% 0.6% −37.2%
Stock pay / revenue 13.6% 0.2% 10.2% 2.1% 13.5% 0.8% 11.9%
Change in share count 8.3% 29.7% 152.3% 5.8% 22.3% 1.9% 8.3%

Median of all 17 companies we cover in diversified metals & mining. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

17 diversified metals & mining companies
Measure Company Peer median Rank
Revenue growth Growth 26.1% 14.6% 5 of 17
Change in growth rate Growth +8.4pp +10.2pp 9 of 16
Operating margin Profitability -41.5% -0.5% 9 of 14
Net margin Profitability -19.9% -36.1% 8 of 17
Free-cash-flow margin Cash generation -165.2% -34.6% 11 of 16
Stock pay as % of revenue Cash generation 13.6% 13.5% 8 of 13
Long-term debt as % of assets Balance sheet 25.1% 21.3% 10 of 14
Change in share count Balance sheet 8.3% 8.3% 9 of 16
Days sales outstanding Balance sheet 48 days 37 days 9 of 12

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Materials $160M 70.6% ▼ 21.3%
Magnetics $66.9M 29.4% —

From MP Materials Corp. / DE's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$8.2B
Institutions reporting
754
Shares held vs prior quarter
▲ 11.1%
Positions opened / closed
121 / 78

Top buyers and sellers, Q2 2026: 408 institutions bought and 281 sold ; the biggest buyer was D. E. Shaw & Co., Inc (+2.7M shares) and the biggest seller Two Sigma Investments, LP (−1.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Hancock Prospecting Pty Ltd $832M 14.9M 10.1% 0.0%
Blackrock, Inc. $825M 14.7M 10.0% ▼ 0.1%
State Street Corp $435M 7.8M 5.3% ▲ 5.1%
Vanguard Capital Management LLC $389M 6.9M 4.7% ▲ 0.9%
Vanguard Portfolio Management LLC $382M 6.8M 4.6% ▲ 0.8%
D. E. Shaw & Co., Inc. $326M 5.8M 4.0% ▲ 85.1%
Morgan Stanley $267M 4.8M 3.2% ▼ 14.0%
Van Eck Associates Corp $256M 4.6M 3.1% ▼ 0.5%
UBS Group AG $242M 4.3M 2.9% ▲ 24.4%
Invesco Ltd. $198M 3.5M 2.4% ▼ 6.8%
Bank Of America Corp $191M 3.4M 2.3% ▲ 69.7%
Price T Rowe Associates Inc $183M 3.3M 2.2% ▲ 134.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not MP Materials Corp. / DE's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $1.5M 2 trades by 1 insider, last 12 months Insider sales History → $147M 32 trades by 3 insiders · 31% under pre-set plans
Net ▼ $145M net selling
Insider Date Trade Shares Price Value
Rosenthal Michael Stuart Chief Operating Officer June 9, 2026 Buy 10,000 $54.30 $543,000
Litinsky James H. Chairman and CEO June 3, 2026 Sell 37,286 $70.23 $2.6M
Litinsky James H. Chairman and CEO June 3, 2026 Sell 136,141 $68.65 $9.3M
Litinsky James H. Chairman and CEO June 3, 2026 Sell 11,740 $71.31 $837,179
Litinsky James H. Chairman and CEO May 29, 2026 Sell 48,050 $64.56 $3.1M
Litinsky James H. Chairman and CEO May 29, 2026 Sell 1,950 $65.13 $127,003
Litinsky James H. Chairman and CEO May 28, 2026 Sell 95,114 $64.67 $6.2M
Litinsky James H. Chairman and CEO May 28, 2026 Sell 44,117 $65.65 $2.9M
Litinsky James H. Chairman and CEO May 28, 2026 Sell 49,265 $66.52 $3.3M
Litinsky James H. Chairman and CEO May 28, 2026 Sell 39,445 $67.78 $2.7M
Litinsky James H. Chairman and CEO May 28, 2026 Sell 6,710 $68.18 $457,488
Litinsky James H. Chairman and CEO May 27, 2026 Sell 23,113 $66.06 $1.5M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in MP Materials Corp. / DE disclosed in the last 12 months; 1 earlier trade on record.

  • Thomas R. Suozzi(D-NY 3):Purchase, $15,001 - $50,000, traded May 5, 2022, filed May 20, 2022

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 26, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on MP Materials Corp. / DE was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

MP Materials Corp. / DE in brief

What does MP Materials Corp. / DE do?
MP Materials Corp. / DE is a US-listed company in the diversified metals & mining industry. Its financial year ends in December.
What is MP Materials Corp. / DE's stock ticker?
MP Materials Corp. / DE trades under the ticker MP on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is MP Materials Corp. / DE's revenue, and how fast is it growing?
Over its most recent trailing twelve months, MP Materials Corp. / DE reported revenue of $305M, 26.1% higher than a year earlier, according to its SEC filings.
What is MP Materials Corp. / DE's free cash flow?
MP Materials Corp. / DE's free-cash-flow margin is -165.2% of revenue over the trailing twelve months, ranking 11 of the 16 diversified metals & mining companies we cover.
Who are MP Materials Corp. / DE's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Hancock Prospecting Pty Ltd, Blackrock, Inc. and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is MP Materials Corp. / DE buying back stock, and does it pay a dividend?
MP Materials Corp. / DE spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 8.3% over the year.
What is MP Materials Corp. / DE's market cap?
On November 2, 2026, MP Materials Corp. / DE's market capitalisation was about $6.8B and net debt of $584M. Market figures come from third-party market data and may be delayed.
How much debt does MP Materials Corp. / DE have?
MP Materials Corp. / DE's debt-to-equity ratio is 47.7%, from its latest balance sheet (66.9% five years earlier). The financial health section below sets out its other solvency checks.
Who are MP Materials Corp. / DE's competitors?
In our Diversified Metals & Mining peer group, the companies closest to MP Materials Corp. / DE are Centrus Energy Corp, Americas Gold & Silver Corp, Largo Inc., Energy Fuels Inc and Compass Minerals International Inc. The side-by-side comparison below sets their revenue, margins and growth against MP Materials Corp. / DE's.
Are insiders buying or selling MP Materials Corp. / DE stock?
Over the last 12 months, MP Materials Corp. / DE's directors and officers reported 2 open-market purchases and 32 sales on Form 4. The insider trading page charts every trade.
When is MP Materials Corp. / DE's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — MP Materials Corp. / DE announces its own schedule.