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MP Materials MP Net debt / EBITDA

Net debt / EBITDA at other companies

Westlake logo
WestlakeWLK
10.7×
Element Solutions logo
Element SolutionsESI
3.9×+1.6×
Albemarle logo
AlbemarleALB
Reliance logo
RelianceRS
1.3×+0.2×
Martin Marietta Materials logo
Martin Marietta MaterialsMLM
2.6×-0.4×
Steel Dynamics logo
Steel DynamicsSTLD
1.6×0.0×

Other financials

Income statement

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Revenue$90.6M+49.1%
Gross profit$16.4M+36.9%
Operating income-$24.1M+30.6%
Net income-$8.0M+64.8%
EPS (diluted)-$0.04+71.4%

Balance sheet

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Cash & equivalents$887.1M+344%
Total debt$1.0B+10.8%
Total equity$2.0B+89.9%
Total assets$3.8B+62.2%

Cash flow

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Operating cash flow-$1.9M+97.0%
CapEx$77.4M+154%
Free cash flow-$79.3M+15.4%

Valuation

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Market cap$10.84B+115%
Enterprise value$10.97B+84.9%
P/S42.6×+19.3×

Profitability

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Gross margin14.2%+9.5pp
Operating margin-54.6%-13.0pp
Net margin-50.5%
FCF margin-123.4%+141pp

Returns & leverage

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Return on equity-7.8%
Debt / equity0.5×-0.4×
Current ratio7.2×+3.1×

Where this comes from

Calculated from MP Materials’s reported figures.

Based on the most recent quarter.

The official record: MP Materials’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is MP Materials's net debt / EBITDA?
MP Materials (MP) reported net debt / EBITDA of 11.2× in Q4 2023.
How has MP Materials's net debt / EBITDA changed year-over-year?
MP Materials's net debt / EBITDA increased by 622.7% year-over-year, from 1.6× to 11.2×.
What is the long-term trend for MP Materials's net debt / EBITDA?
Over 2 years (2021 to 2023), MP Materials's net debt / EBITDA has grown at a 105.1% compound annual growth rate (CAGR), from -2.7× to 11.2×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.