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MP Materials MP Return on invested capital

Return on invested capital at other companies

Westlake logo
WestlakeWLK
-13.1%-16.1pp
Element Solutions logo
Element SolutionsESI
5.7%-2.0pp
Albemarle logo
AlbemarleALB
-1.3%-0.6pp
Reliance logo
RelianceRS
9.7%+0.2pp
Martin Marietta Materials logo
Martin Marietta MaterialsMLM
7.4%-0.8pp
Steel Dynamics logo
Steel DynamicsSTLD
11.2%+1.1pp

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 trailing twelve months.

The official record: MP Materials’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is MP Materials's return on invested capital?
MP Materials (MP) reported return on invested capital of -7.2% in Q1 2026.
How has MP Materials's return on invested capital changed year-over-year?
MP Materials's return on invested capital increased by 25.8% year-over-year, from -9.7% to -7.2%.
What is the long-term trend for MP Materials's return on invested capital?
Over 4 years (2021 to 2025), MP Materials's return on invested capital has grown at a -29.0% compound annual growth rate (CAGR), from 33.6% to -8.5%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.