MP Materials (MP) Gross Margin (2020 - 2026)
MP Materials' (MP) quarterly Gross Margin came in at 18.1% in Q1 2026, down 160.0% YoY from 30.16% in Q1 2025, and up 24.87% on a QoQ basis from 14.49% in Q4 2025.
MP Materials (MP) Gross Margin (2020 - 2026) Analysis & Trends
MP Materials (MP) has 7 years of Gross Margin data on file, last reported at 18.1% in Q1 2026.
- Quarterly Gross Margin fell 160.0% year-over-year to 18.1% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 14.19% (up 948.0% YoY) and the FY2025 annual result came in at 14.1%, up 857.0% from the prior year.
- Gross Margin rose to 18.1% in Q1 2026, from 14.49% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 170.58% in Q4 2022 to a low of 109.04% in Q4 2023.
- A 5-year average of 34.87% and a median of 19.7% in 2025 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2023 — Gross Margin slumped 27962 bps — and 2024, when it soared 11351 bps.
- Tracing MP's Gross Margin over 5 years: stood at 170.58% in 2022, then sank by 164 bps to 109.04% in 2023, then soared by 104 bps to 4.46% in 2024, then surged by 225 bps to 14.49% in 2025, then climbed by 25 bps to 18.1% in 2026.
- The last three Gross Margin figures came in at 18.1% (Q1 2026), 14.49% (Q4 2025), and 9.48% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bhp | 238.03 Bn | 208.58 Bn | - | - |
| 2 | Rio Tinto | 201.39 Bn | 191.89 Bn | - | - |
| 3 | Teck Resources | 32.48 Bn | 27.27 Bn | 1.21 Bn | 46.32% |
| 4 | MP Materials | 9.79 Bn | 7.32 Bn | 36.20 Mn | 33.37% |
| 5 | Almonty Industries | 5.05 Bn | 4.16 Bn | 18.87 Mn | 60.72% |
| 6 | Materion | 4.85 Bn | 4.83 Bn | 104.34 Mn | 17.00% |
| 7 | Skeena Resources | 4.31 Bn | 3.89 Bn | - | - |
| 8 | USA Rare Earth | 3.94 Bn | 3.94 Bn | -1.58 Mn | -27.19% |
| 9 | Evolution Metals & Technologies | 2.06 Bn | 2.06 Bn | -115,000.00 | -7.03% |
| 10 | Nexa Resources | 1.86 Bn | 1.47 Bn | 257.20 Mn | 28.33% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 33.37% |
| Mar 31, 2026 | 18.10% |
| Dec 31, 2025 | 14.49% |
| Sep 30, 2025 | 9.48% |
| Jun 30, 2025 | 12.13% |
| Mar 31, 2025 | 19.70% |
| Dec 31, 2024 | 4.46% |
| Sep 30, 2024 | 9.00% |
| Jun 30, 2024 | -32.65% |
| Mar 31, 2024 | 26.89% |
| Dec 31, 2023 | -109.04% |
| Sep 30, 2023 | 57.69% |
| Jun 30, 2023 | 64.54% |
| Mar 31, 2023 | 74.70% |
| Dec 31, 2022 | 170.58% |
| Sep 30, 2022 | 81.99% |
| Jun 30, 2022 | 84.61% |
| Mar 31, 2022 | 86.06% |
| Dec 31, 2021 | 153.52% |
| Sep 30, 2021 | 78.04% |