7 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $224M | -$86M | 0.0% | -66.6% | -$328M | $999M | $1.2B |
| 2024 | $204M | -$65M | 0.0% | -83.1% | -$173M | $909M | $282M |
| 2023 | $253M | $24M | 0.0% | -7.0% | -$199M | $682M | $263M |
| 2022 | $528M | $289M | 0.0% | 62.1% | $17M | $678M | $137M |
| 2021 | $332M | $135M | 0.0% | 49.8% | -$22M | $675M | $1.2B |
| 2020 | $134M | -$22M | 0.0% | -25.8% | -$19M | $3M | $520M |
| 2019 | $73M | -$7M | 0.0% | -10.4% | -$3M | — | $3M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $91M | -$8M | 0.0% | -26.6% | -$79M | $1.0B | $886M |
| Dec '25 | $53M | $9M | 0.0% | -7.0% | -$109M | $999M | $1.2B |
| Sep '25 | $54M | -$42M | 0.0% | -125.2% | -$93M | $997M | $1.1B |
| Jun '25 | $57M | -$31M | 0.0% | -76.5% | -$33M | $911M | $262M |
| Mar '25 | $61M | -$23M | 0.0% | -57.2% | -$94M | $910M | $198M |
| Dec '24 | $61M | -$22M | 0.0% | -72.1% | -$11M | $909M | $282M |
| Sep '24 | $63M | -$26M | 0.0% | -62.8% | -$53M | $938M | $284M |
| Jun '24 | $31M | -$34M | 0.0% | -171.1% | -$16M | $937M | $296M |
| Mar '24 | $49M | $16M | 0.0% | -66.6% | -$93M | $936M | $296M |
| Dec '23 | $41M | -$16M | 0.0% | -81.6% | -$87M | $682M | $263M |
| Sep '23 | $53M | -$4M | 0.0% | -33.4% | -$48M | $681M | $548M |
| Jun '23 | $64M | $7M | 0.0% | 0.8% | -$46M | $680M | $927M |
| Mar '23 | $96M | $37M | 0.0% | 34.4% | -$19M | $679M | $651M |
| Dec '22 | $93M | $67M | 0.0% | 40.2% | -$83M | $678M | $137M |
| Sep '22 | $124M | $63M | 0.0% | 63.6% | $3M | $678M | $428M |
| Jun '22 | $144M | $73M | 0.0% | 66.7% | $31M | $677M | $664M |
| Mar '22 | $166M | $86M | 0.0% | 69.2% | $66M | $676M | $1.2B |
| Dec '21 | $99M | $49M | 0.0% | 57.6% | -$6M | $675M | $1.2B |
| Sep '21 | $100M | $43M | 0.0% | 54.2% | -$19M | $674M | $1.2B |
| Jun '21 | $73M | $27M | 0.0% | 44.8% | $13M | $673M | $1.2B |
How the market has priced MP against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Mp Materials Corp. / De's revenue has grown 10.8% per year. These are computed facts, not advice.
As of FY2025, Mp Materials Corp. / De reported $999M of total debt against $1.2B of cash; operating income covered interest expense -4.7×.
In FY2025, gross margin was —, operating margin -66.6%, and net margin -38.3%.
As of Jun '26, Mp Materials Corp. / De traded at a price-to-earnings ratio of about 154.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.