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MP Materials MP Magnetics Segment — Segment Adjusted EBITDA

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HSegment Total — Segment Adjusted EBITDA
$333M-3.5%

Other financials

Income statement

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Revenue$108.5M+89.0%
Gross profit$36.2M+420%
Operating income-$32.0M+27.0%
Net income-$20.3M+34.3%
EPS (diluted)-$0.11+42.1%

Balance sheet

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Cash & equivalents$429.1M+63.2%
Total debt$934.6M+1.7%
Total equity$2.0B+93.7%
Total assets$3.7B+59.5%

Cash flow

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Operating cash flow-$6.8M-87.4%
CapEx$230.3M+694%
Free cash flow-$237.2M-626%

Valuation

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Market cap$8.53B-28.7%
Enterprise value$9.03B-28.4%
P/S27.9×-21.4×

Profitability

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Gross margin21.4%+10.1pp
Operating margin-41.5%-11.4pp
Net margin-50.5%
FCF margin-169.7%-1,273pp

Returns & leverage

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Return on equity-7.8%
Debt / equity0.5×-0.4×
Current ratio9.5×+5.9×

Where this comes from

Reported directly by MP Materials in its filing.

Tagged under the XBRL concept mp:AdjustedEBITDAEarningsBeforeInterestTaxesDepreciationAndAmortization.

The source filing: MP Materials’s 10-Q, filed May 8, 2026.

Filed
May 7, 2026, 8:00 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001801368-26-000029
(in thousands)MaterialsMagneticsTotal
Cost of sales (excluding depreciation, depletion and amortization and stock-based compensation expense)(2)66,7807,528
Selling, general and administrative (excluding stock-based compensation expense)(3)10,1023,473
Other segment items(4)836485
Segment Adjusted EBITDA$36,732$9,59246,324
Reconciling items to consolidated loss before income taxes
Corporate expenses and other(5)(9,587)
Elimination of intersegment Adjusted EBITDA(1)(127)
Depreciation, depletion and amortization(32,137)

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is MP Materials's magnetics segment — segment adjusted EBITDA?
MP Materials (MP) reported magnetics segment — segment adjusted EBITDA of $9.59M in Q1 2026.
How has MP Materials's magnetics segment — segment adjusted EBITDA changed year-over-year?
MP Materials's magnetics segment — segment adjusted EBITDA increased by 1845.6% year-over-year, from $493K to $9.59M.
What is the long-term trend for MP Materials's magnetics segment — segment adjusted EBITDA?
Over 3 years (2022 to 2025), MP Materials's magnetics segment — segment adjusted EBITDA has grown at a 114.4% compound annual growth rate (CAGR), from -$2.68M to $26.45M.
What does magnetics segment — segment adjusted EBITDA mean?
A measure of the magnetics segment's operating profitability, calculated by adjusting segment earnings for interest, taxes, depreciation, amortization, and other non-cash or non-recurring items. It provides a view of the segment's core cash-generating capability.

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