MP Materials Corp. (MP) Financial Statements
MP Materials financial statements at a glance
MP Materials reported revenue of $224.44 million for fiscal year 2025 (ended December 31, 2025), up 10.1% from fiscal year 2024. Net income was -$85.87 million, a net margin of 38.3% loss, and diluted earnings per share were -$0.50.
At the end of fiscal year 2025 it had total assets of $3.86 billion, total liabilities of $1.89 billion and shareholders' equity of $1.98 billion, with cash and short-term investments of $1.83 billion and total debt of $1.01 billion.
Its operations brought in -$155.76 million of cash; capital spending was $172.38 million, leaving free cash flow of -$328.13 million.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
MP Materials Corp.
Income Statement
Annual • USD
MP Materials key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $224.4M | $203.9M | $253.4M | $527.5M | $332.0M |
| Gross profit | -$57.6M | -$66.8M | $105.0M | $416.9M | $231.3M |
| Operating income | -$145.1M | -$163.7M | $3.6M | $335.0M | $165.7M |
| Net income | -$85.9M | -$65.4M | $24.3M | $289.0M | $135.0M |
| Diluted EPS | -$0.50 | – | $0.14 | $1.52 | $0.73 |
| Total assets | $3.9B | $2.3B | $2.3B | $2.2B | $1.9B |
| Total liabilities | $1.9B | $1.3B | $970.7M | $925.2M | $880.9M |
| Shareholders' equity | $2.0B | $1.1B | $1.4B | $1.3B | $1.0B |
| Cash and short-term investments | $1.8B | $850.9M | $997.8M | $1.2B | $1.2B |
| Total debt | $1.0B | $914.5M | $688.8M | $678.5M | $691.0M |
| Operating cash flow | -$155.8M | $13.4M | $62.7M | $343.5M | $102.0M |
| Capital spending | $172.4M | $186.4M | $261.9M | $326.6M | $123.9M |
| Free cash flow | -$328.1M | -$173.1M | -$199.2M | $16.9M | -$21.9M |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2019.
Questions and answers
What was MP Materials's revenue in fiscal year 2025?
$224.44 million, up 10.1% from $203.85 million in fiscal year 2024.
How much profit does MP Materials make?
MP Materials reported net income of -$85.87 million for fiscal year 2025 (38.3% of revenue); operating income was -$145.09 million.
How much cash and debt does MP Materials have?
At the end of fiscal year 2025: cash and short-term investments of $1.83 billion and total debt of $1.01 billion.
What is MP Materials's free cash flow?
-$328.13 million in fiscal year 2025 (operating cash flow of -$155.76 million minus capital spending of $172.38 million).
