Friday 6 November 2026 Export MP’s income statement to Excel — free account

MP Materials Corp.

MP Basic Materials Other Industrial Metals & Mining

MP Materials Corp.’s revenue for fiscal 2025 (year ended December 2025) was $224.4 million, up 10.1% from fiscal 2024.

Revenue: +175.7%
EPS: +50.0%
Free cash flow: −638.5%
Total debt: −6.12%

Quarter to September 2026, against a year earlier

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34.00 1.91 −5.32%

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Market cap: $6.0B
P/E: 0.0×
Fwd P/E: −135×
Dividend yield: —
F-score: 4/9
Altman Z: 4.10
Beneish M: −0.49
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

MP Materials Corp. (MP) revenue by segment, product and region

Revenue by product or service $m

Line	FY2022	FY2021	FY2020
Rare earth concentrate (including related party)	517 98.06%	329 98.98%	134 99.54%
Other rare earth products	10 1.94%	3 1.02%	1 0.46%
NdPr oxide and metal (including related party)	0 0.00%	0 0.00%	—
Revenue	528	332	134

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022
Materials Segment	160 71.45%	204 100.00%	253 100.00%	528 100.00%
Magnetics Segment	67 29.79%	0 0.00%	0 0.00%	0 0.00%
Eliminations	(3) (1.24%)	—	—	—
Revenue	224	204	253	528

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
NdPr production volume	Q3 FY2026	1.0K	721.00	+41.19%
NdPr sales volume (MTs)	Q3 FY2026	1.0K	525.00	+94.29%
Remaining performance obligations	Q3 FY2026	$179.5M	—	—
REO production volume	Q3 FY2026	12.9K	13.3K	−2.77%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.