MP Materials Corp. (MP) vs Materion Corporation (MTRN)

MP Materials Corp. and Materion Corporation are both Other Industrial Metals & Mining companies. MP Materials Corp. is the larger, with a market value of $8.9B against $5.4B — 1.6× the size. MP Materials Corp. has negative trailing earnings, so its P/E is not meaningful; Materion Corporation trades at 61.1×. MP Materials Corp. grew revenue faster over the last twelve months: 71.9% against 21.6%. Materion Corporation has the higher net margin (4.29% vs −14.6%) and the higher return on invested capital (5.50% vs −4.28%). Across the 19 metrics below, Materion Corporation leads on 13 and MP Materials Corp. on 6.

Valuation

Metric MP MTRN Other Industrial Metals & Mining median
P/E n/m 61.05 27.78
P/S 20.93 2.63 8.14
P/B 4.45 5.55 1.48
Price to free cash flow n/m 108.43 16.31
EV/EBITDA n/m 29.88 14.66
EV/Sales 19.85 2.84 6.17
Earnings yield (0.70%) 1.64% (8.03%)
Free cash flow yield (5.79%) 0.92% (6.85%)

Profitability

Metric MP MTRN Other Industrial Metals & Mining median
Gross margin 42.33% 16.01% 14.52%
Operating margin (30.48%) 5.99% 0.00%
Net margin (14.56%) 4.29% 0.00%
Free cash flow margin (121.22%) 2.42% 0.00%
Return on equity (4.08%) 9.46% (7.90%)
Return on assets (2.00%) 4.99% (11.61%)
Return on invested capital (4.28%) 5.50% (3.47%)

Growth

Metric MP MTRN Other Industrial Metals & Mining median
Revenue growth (TTM) 71.92% 21.60% 27.25%
EPS growth (last fiscal year) (29.84%) 1,178.57% —
Revenue growth, 5-year CAGR 15.45% 8.72% 5.26%
Net income growth, 5-year CAGR 0.00% 37.07% 0.00%

Health

Metric MP MTRN Other Industrial Metals & Mining median
Debt to equity 0.39 0.46 0.04
Current ratio 9.51 2.94 2.48
Net debt to EBITDA 13.83 2.54 1.10

Dividend

Metric MP MTRN Other Industrial Metals & Mining median
Dividend yield — 0.43% 4.32%
Payout ratio 0.00 0.11 0.00

Size

Metric MP MTRN Other Industrial Metals & Mining median
Market cap 8.85b 5.39b 586.13m

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