Zacks Investment Research·1 day ago
MP Materials Trades at a Premium Valuation: How to Play the Stock?MP trades at a steep premium as shares lag peers, with revenue growth and capacity expansion offset by elevated costs and estimate cuts.
MP Materials Corp.(MP)Earnings, Financials & Key Ratios
MP•NYSE
$50.49
Price updated Jul 7, 2026
SectorBasic MaterialsIndustryIndustrial MaterialsSub-IndustryBattery Materials (Lithium, Graphite, Rare Earths)
AboutMP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. The company holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals. It offers cerium, lanthanum, neodymium, praseodymium, and samarium. The company was founded in 2017 and is headquartered in Las Vegas, Nevada.Show more
- Revenue$275M+35.1%
- EBITDA-$32M+65.0%
- Net Income-$86M-31.3%
- EPS (Diluted)-0.50+12.3%
- Gross Margin-2.4%+92.7%
- EBITDA Margin-11.62%+74.1%
- Operating Margin-44.57%+46.4%
- Net Margin-31.18%+2.9%
- ROE-4.98%+7.8%
MP Price & Volume
MP Materials Corp. (MP) stock price & volume — 10-year historical chart
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Vertical Integration Efforts Face Heavy Capital Burn
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Accelerating
Profitability:Negative
Financial:Fortress
Cash Flow:Burning
Primary Risk:Chemical separation technical failure
Key Thesis Takeaways
- MP Materials is currently navigating a high-stakes transition toward becoming a vertically integrated rare earth magnet manufacturer, a strategy that has driven revenue growth to 118.6% in 2026Q1 but continues to pressure bottom-line profitability.
- While the company maintains a robust liquidity position with $887.1M in cash, the persistent negative operating margins of -19.5% and significant capital expenditure requirements suggest that long-term value creation remains contingent on successful operational scaling.
- Investors should monitor the company's ability to stabilize its volatile cost structure and overcome technical challenges in chemical separation to justify its current valuation.
Verdict Logic
while the company holds a significant $887.1M cash buffer, the ongoing negative free cash flow and the 62.74 forward EV/EBITDA multiple suggest that the market has already priced in substantial future execution success.
MP Growth Metrics
MP Materials Corp. (MP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years15.45%
3 Years-19.47%
TTM60.93%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM31.91%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM34.97%
Return on Capital
10 Years-1.71%
5 Years3.07%
3 Years-4.23%
Last Year-4.18%
MP Recent Earnings
MP Materials Corp. (MP) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$0.03+206.5%
$0.03
Rev
$91M+21.2%
$75M
Q1 2026
Feb 26, 2026Metric
Actual
Est
EPS
$0.09+53.9%
$0.06
Rev
$53M-30.7%
$76M
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.10+42.2%
$0.17
Rev
$54M+0.6%
$53M
Q3 2025
Aug 7, 2025Metric
Actual
Est
EPS
$0.13+34.0%
$0.20
Rev
$57M+24.4%
$46M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $0.03vs $0.03+206.5% | $91Mvs $75M+21.2% |
| Q1 2026 | Feb 26, 2026 | $0.09vs $0.06+53.9% | $53Mvs $76M-30.7% |
| Q4 2025 | Nov 6, 2025 | $0.10vs $0.17+42.2% | $54Mvs $53M+0.6% |
| Q3 2025 | Aug 7, 2025 | $0.13vs $0.20+34.0% | $57Mvs $46M+24.4% |
Based on last 12 quarters of dataView full earnings history →
Latest MP News
Recent stock market news and headlines for MP Materials Corp. (MP)
The Motley Fool·4 days ago
Here's Why Shares in MP Materials Declined in JuneChina's export blacklist poses significant indirect risks to MP Materials' operations. China presents a mix of upside and downside risk for the company.
Zacks Investment Research·Jun 30, 2026
MP's Materials Segment Hits Record Levels in Q126: Can Momentum Last?MP Materials' record NdPr output and sales fuel stronger Materials segment revenues and profitability in first-quarter 2026.
The Motley Fool·Jun 29, 2026
2 Reasons to Buy MP Materials Stock, and 1 Reason to SellMP Materials operates the Mountain Pass mine in California, the only active rare earth mine in the U.S. It has a vertically integrated business model that positions it favorably as the U.S. prioritizes these minerals. Its historic deal with the U.S. government includes a price protection agreement for its products.
Fool - Investing News·Jun 27, 2026
The Big Paint vs Rare Earth Faceoff: One Stock to Buy Right Now for 2026 and BeyondMP Materials fuels EV and defense supply chains; Sherwin-Williams boasts global scale and strong cash flow. Which business model stands out in today's market?
Peers Comparison
Key metrics vs top competitors for MP Materials Corp. (MP)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $50.49 | $8.99B | -100.98 | 35.12% | -31.18% | -4.98% | — | |
| $12.86 | $3.21B | -34.76 | -15.61% | -82.7% | -10.16% | — | |
| $3.62 | $808.27M | -7.10 | — | — | -8.28% | — | |
| $9.09 | $6.01B | -24.84 | — | — | -30.32% | — | |
| $1.29 | $512.56M | -6.45 | -19.28% | -297.95% | -105.1% | — | |
| $129.02 | $15.22B | -22.44 | -4.37% | -4.24% | -2.29% | — |
Compare MP vs Peers
MP Materials Corp. (MP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MP SEC Filings & Documents
MP Materials Corp. (MP) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 7, 2026·SEC
Material company update
Feb 26, 2026·SEC
Material company update
Nov 19, 2025·SEC
10-K Annual Reports
310-Q Quarterly Reports
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MP Frequently Asked Questions
MP Materials Corp. (MP) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is MP Materials Corp.'s revenue?
MP Materials Corp. (MP) reported $347.6M in revenue for fiscal year 2025. This represents a 416% increase from $67.4M in 2018.
How fast is MP Materials Corp. growing?
MP Materials Corp. (MP) grew revenue by 35.1% over the past year. This is strong growth.
Is MP profitable?
MP Materials Corp. (MP) reported a net loss of $71.2M for fiscal year 2025.
Dividend & Returns
What is MP's return on equity?
MP Materials Corp. (MP) has a return on equity (ROE) of -5.0%. Negative ROE indicates the company is unprofitable.
What is MP Materials Corp.'s free cash flow?
MP Materials Corp. (MP) had negative free cash flow of $313.8M in fiscal year 2025, likely due to heavy capital investments.