MP Materials Corp (MP)
UndervaluedFundamental
35
Price
$47.29
Market Cap
$8.27B
Part 1 · What the company is worth
Overview
MP Materials Corp., together with its subsidiaries, produces rare earth materials in the Western Hemisphere. It operates in two segments, Materials and Magnetics. The Materials segment owns and operates the Mountain Pass Rare Earth Mine and Processing facility located near Mountain Pass, San Bernardino County, California. The Magnetics segment produces magnetic precursor products, including NdPr metal; and manufactures NdFeB permanent magnets. MP Materials Corp. was founded in 2017 and is headquartered in Las Vegas, Nevada.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated on September 19, 2026 with claude-haiku-4-5 — shared with all users
Lynas is the other rare earth miner-processor operating at scale outside China, selling separated neodymium-praseodymium oxide to the same Western magnet, auto and defense customers MP Materials supplies.
Listed arm of one of the two Chinese rare earth groups, it processes the Bayan Obo deposit into the same separated NdPr oxides and magnet materials that set the world price MP Materials sells into.
The second Chinese state group, created in 2021, controls a large share of China's mining and refining quota and competes for the same global oxide and magnet-material demand; it is state-owned and not listed.
It is building sintered neodymium-iron-boron magnet capacity in Stillwater, Oklahoma, targeting the same US defense, EV and industrial buyers as MP Materials' Fort Worth magnet plant.
Neo separates rare earths and makes magnetic powders and sintered magnets in Estonia and Asia, competing for the same non-Chinese magnet-material orders from European and North American manufacturers.
Balance Sheet & Liquidity
Revenue
$305M
Trailing 12 months (through 6/30/2026)
Net Income
$-61M
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$-328M
Total Equity
$1.98B
Total Liabilities
$1.47B
Current Ratio
9.51
Interest Coverage
3.34
Debt/EBITDA
-
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$74.29
Current Price
$47.29
Margin of Safety
+36.3%
Fair Value Range
$70.58 - $78.01
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
-
ROE
-4.3%
P/B Ratio
4.30
P/FCF
-
Gross Margin
-
ROIC
-2.8%
Profitability Radar
Value Creation (Economic Moat)
ROIC
-2.8%
WACC
14.4%
ROIC − WACC
-17.3 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamental Analysis Criteria
Passed (9)
- Price CAGR 7.81%
- Debt/Equity ratio
- Current Ratio
- Interest Coverage
- Low reliance on intangibles
- Revenue Growth 5Y 15.4%
- Analyst Consensus 96% Buy
- Earnings Surprise avg 703.0%
- Net Margin Trend -19.9% vs -41.9%
Failed (10)
- EPS shows upward trend
- ROIC -2.8%
- P/B Ratio 4.30
- Operating Margin -41.5%
- Positive Free Cash Flow
- Return on Tangible Assets
- DCF valuation (Overvalued)
- ROE -2.5%
- Share Dilution 49.6%
- Piotroski F-Score 3/9
Unavailable (8)
- Gross Margin NaN%
- P/FCF NaN
- Dividend Payout NaN%
- CapEx intensity
- Debt/EBITDA
- Price below Graham Number
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
Piotroski F-Score
Serious financial concerns
Earnings Quality
Low quality: investigate accounting
Share Dilution
Issuing new shares, diluting ownership
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. James Henry Litinsky | Co-Founder, Chairman, President & CEO | 46 |
| Mr. Michael Stuart Rosenthal | Co-Founder & COO | 46 |
| Mr. Ryan S. Corbett | Chief Financial Officer | 35 |
| Mr. Elliot Dean Hoops | General Counsel & Corporate Secretary | 50 |
| Mr. David Gregory Infuso | Chief Accounting Officer & Principal Accounting Officer | 40 |
| Mr. Zachary Lehman | Chief Technology Officer | - |
| Mr. Martin Sheehan | Senior Vice President of Investor Relations | - |
| Mr. Matt Sloustcher | Executive VP of Corporate Affairs & Chief Communications Officer | - |
| Dr. Alan C. Lund Ph.D. | Executive Vice President of Magnetics | - |
| Mr. Todd Litinsky | Executive Vice President of Strategic Planning | - |
Audit Risk
8
Board Risk
7
Compensation Risk
10
Shareholder Rights Risk
8
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-26
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-07
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-08-06
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for MP, sourced from Markets Gazette.
- 6/20/2026POSITIVEMy Favorite Rare Earth Stock To Buy For The Next 10 Years
MP Materials Corp. is positioned as a favored rare earth stock for long-term investment, boasting an operational and sustainable mining business. The company's existing infrastructure provides a solid foundation for future growth in the critical minerals sector. Investors are likely to view this operational stability and strategic positioning in rare earths as a significant positive, potentially driving demand for its stock over the next decade.
- 5/14/2026NEUTRALHere's How Much $1000 Invested In MP Materials 5 Years Ago Would Be Worth Today
An investment of $1000 in MP Materials Corp. (MP) five years ago would have yielded a significant return, reaching approximately $2,500 today. This performance reflects the company's strategic position in the rare earth mining sector, crucial for electric vehicles and renewable energy technologies. While the exact figures fluctuate with market conditions, the long-term trend indicates substantial growth potential for investors who held the stock through various market cycles. The company's operations in Mountain Pass, California, are vital for domestic rare earth supply chains, making it a key player in a strategically important industry.
- 5/14/2026NEGATIVEMP Materials Shares Slide Thursday: What's Going On?
MP Materials Corp. experienced a significant share price decline on Thursday, following the release and subsequent digestion of its first-quarter financial results. While the article does not provide specific figures from the Q1 report, the market's reaction indicates investor disappointment or concern regarding the company's performance or future outlook. Traders are actively processing the information, leading to downward pressure on the stock. This price action suggests that the Q1 results may have fallen short of expectations or revealed challenges that are impacting investor sentiment.
- 5/9/2026POSITIVEMP Materials CEO: Middle East Conflict Is Accelerating Demand for Rare Earth Magnets
MP Materials Corp. CEO James Litinsky stated that the ongoing Middle East conflict, particularly U.S. military operations against Iran, is accelerating demand for rare earth magnets. He highlighted their critical role in modern warfare, suggesting that geopolitical instability is increasing the strategic importance and thus the demand for the company's core products. This development could lead to increased revenue and market valuation for MP Materials as governments and defense contractors prioritize securing supply chains for these essential components.
- 5/8/2026NEGATIVEMP Materials Stock Edges Lower Despite Q1 Revenue And EPS Beat
MP Materials Corp. (NYSE: MP) experienced a stock decline despite reporting Q1 revenue and EPS that surpassed analyst expectations. The company's quarterly update, released Friday, saw its shares trade lower as market participants processed the results. While specific figures for the beat were not detailed in this summary, the market's reaction suggests that other factors or forward-looking guidance may be weighing on investor sentiment, overriding the positive earnings surprise. Investors often look beyond headline beats for nuanced performance indicators and future outlook.
- 4/20/2026POSITIVEWhat's Behind The Jump In MP Materials Stock?
MP Materials Corp. shares experienced a notable increase on Monday, outperforming a slightly weaker market trend. The company, a key player in the rare earth materials sector, saw its stock climb as materials stocks generally trended upwards, even as the broader market faced headwinds. This divergence suggests specific positive catalysts or investor sentiment favoring MP Materials, potentially related to its strategic importance in the supply chain for critical minerals used in electric vehicles and renewable energy technologies. Investors are watching for further developments in its production and market position.
- 4/15/2026POSITIVE$100 Invested In MP Materials 5 Years Ago Would Be Worth This Much Today
An investment of $100 in MP Materials Corp. five years prior to April 15, 2026, would have yielded a significant return, underscoring the company's strong performance in the rare earth mining sector. MP Materials, a key producer of rare earth magnets essential for electric vehicles and wind turbines, has benefited from increasing global demand for these critical minerals. The company's strategic position in the US, with its Mountain Pass mine, has also been a factor in its valuation. Investors tracking the rare earth market should note this historical performance as an indicator of potential future growth, contingent on market dynamics and geopolitical factors.
- 3/30/2026NEGATIVEDeath Cross Hits MP Materials As Trump-Backed Rare Earth Bet Loses Momentum
MP Materials Corp. has experienced a 'death cross' technical signal, indicating a potential bearish trend. This occurs when a short-term moving average crosses below a long-term moving average, often seen as a bearish indicator. Despite recent investments backed by former President Trump and favorable tailwinds in the rare earth market, the stock's momentum appears to be waning. Investors are closely watching to see if the company can overcome this technical hurdle and capitalize on the strategic importance of rare earth elements.
- 3/17/2026POSITIVEWhere Will MP Materials Stock Be in 5 Years?
MP Materials Corp. is positioned as a potential disruptor in the rare-earth elements sector, a critical area for U.S. national security and technological advancement. The company's focus on establishing domestic sources for these vital materials aligns with strategic governmental objectives to reduce reliance on foreign supply chains. This strategic positioning, coupled with its operational capabilities, suggests significant long-term growth potential. Investors are watching MP Materials closely as it aims to capitalize on increasing demand for rare earths in electric vehicles, wind turbines, and defense applications, potentially leading to substantial value creation.
via Markets Gazette