MP Materials Corp.

MPNYSEBasic Materials● Active

$58.07

$-1.12(-1.88%)

Market Cap$10.3B

P/E Ratio—

52W High$100.251

52W Low$23.26

Avg Volume6.1M

Open$61.21

Beta1.84

Free Cash Flow Financials Revenue

MP Materials Corp. (MP) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

MP · free cash flow · updated Jun 8, 2026

Core FCF metrics

MP · FCF · TTM · margin & CAGR

Free cash flow was −$328.1M for FY2025 (fiscal year ending 2025-12-31), down 89.6% year-over-year The FCF margin was -119.1%.

FY2025 Free Cash Flow−$328.1M▼ -89.6% YoY

Trailing 12M (TTM)−$313.8Mtrailing 4 quarters sum

FCF Margin-119.1%−$328.1M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

MP · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$155.8M(172M)−$328.1M▼ 89.6%-119.1%

FY2024$13.3M(186M)−$173.1M▲ +13.1%-84.9%

FY2023$62.7M(262M)−$199.2M▼ 1277.4%-78.6%

FY2022$343.5M(327M)$16.9M▲ +177.3%3.2%

FY2021$102.0M(124M)−$21.9M▼ 14.7%-6.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

MP · P/FCF · FCF yield · FCF per share

MP Materials Corp. (MP) reported negative free cash flow of −$0.33B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

MP · cash flow statement · operating / investing / financing

For FY2025, MP Materials Corp. generated −$155.8M in operating cash flow and spent 172M in capital expenditures, yielding −$328.1M in free cash flow.

Operating Activities

−$155.8M

Cash from core business operations

2025-12-31

Investing Activities

−$206.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$1.25B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$155.8M) − |CapEx| (172M) = FCF (−$328.1M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Basic Materials)

MP vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

MP Materials Corp.YOU

−$328.1M-89.6%-119.1%

Loss

Southern Copper Corporation

Basic Materials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

MP Materials Corp. (MP) reported free cash flow of −$328.1M for FY2025 (fiscal year ending 2025-12-31), down 89.6% year-over-year. The FCF margin was -119.1%.

Based on available data, MP Materials Corp. has maintained positive free cash flow for at least 2 fiscal year(s). FCF peaked at $16.9M in FY2022.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

MP free cash flow · 8 questions

MP Materials Corp. free cash flow was −$328.1M for FY2025, down 89.6% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$313.8M.

MP free cash flowMP FCFMP FCF 2025MP free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · MP Materials Corp. · MP Materials Corp. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026