MP Materials Corp. / DE balance sheet

At the end of fiscal 2025, MP Materials Corp. / DE had total assets of $3.86bn, total liabilities of $1.47bn and shareholders' equity of $1.98bn. It held $1.17bn in cash against $1.08bn of debt.

Balance sheet

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

MP Materials Corp. / DE: balance sheet, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	3	520	1,179	137	263	282	1,166	429
Receivables	0	4	51	33	10	19	15	40
Inventory	23	32	39	58	95	108	172	173
Total current assets	27	561	1,277	1,294	1,131	1,031	2,166	1,745
Total assets	102	1,074	1,890	2,238	2,336	2,334	3,864	3,727
Accounts payable	—	—	—	15	28	24	37	46
Deferred revenue (current)	—	—	—	—	0	57	74	46
Total current liabilities	31	43	60	97	109	164	299	184
Short-term debt	—	2	0	—	—	0	67	0
Long-term debt	—	1	675	678	682	909	931	935
Total debt	0	3	675	678	690	930	1,080	1,013
Total liabilities	120	220	881	925	971	1,279	1,472	1,356
Shareholders' equity	−18	854	1,009	1,313	1,366	1,055	1,979	1,957
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	—	—	414	414
Shares outstanding	67m	—	178m	178m	178m	163m	177m	178m

US$ millions unless shown otherwise. Fiscal quarters.

MP Materials Corp. / DE: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	15	19	70	22	15	15	47	40
Inventory	117	108	133	128	144	172	169	173
Total current assets	1,017	1,031	1,023	960	2,174	2,166	2,047	1,745
Total assets	2,300	2,334	2,368	2,336	3,798	3,864	3,840	3,727
Accounts payable	22	24	21	22	25	37	33	46
Deferred revenue (current)	50	57	75	80	82	74	62	46
Total current liabilities	147	164	248	267	270	299	285	184
Short-term debt	—	0	67	67	68	67	67	0
Long-term debt	938	909	842	843	930	931	933	935
Total debt	938	909	910	911	997	999	1,000	935
Total liabilities	1,236	1,279	1,332	1,326	1,420	1,472	1,459	1,356
Shareholders' equity	1,065	1,055	1,036	1,011	1,965	1,979	1,967	1,957
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	414	414	414	414
Shares outstanding	163m	163m	163m	163m	177m	177m	178m	178m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from MP Materials Corp. / DE's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to MP Materials Corp. / DE.