MP Materials (MP) Gross Margin (2020 - 2026)
MP Materials' Gross Margin came in at 33.37% for Q2 2026, up 21.23 percentage points from 12.13% a year earlier and up 15.27 percentage points from the prior quarter.
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Analysis
MP Materials (MP) Gross Margin (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, MP Materials reported Gross Margin of 21.39%, up 10.10 percentage points year-over-year; for FY2025, it came in at 14.10%, up 8.57 percentage points from FY2024.
- Gross Margin carries a five-year change of -38.40 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 5.53% in FY2024 (-57.89 pp), 63.42% in FY2023 (-19.10 pp), 82.52% in FY2022 (+5.49 pp) and 77.03% in FY2021 (+24.53 pp).
- The Q2 2026 figure represents the highest quarterly Gross Margin since Q4 2023.
- Year-over-year, Gross Margin increased in four of the last eight quarters, with an average year-over-year change of -2.41 percentage points.
- The fastest year-over-year change in Gross Margin over five years came in Q2 2025 (a gain of 44.78 percentage points), and the weakest in Q2 2024 (a drop of 97.19 percentage points).
- Business Quant data shows MP's Gross Margin at 18.10% (Q1 2026), 14.49% (Q4 2025) and 9.48% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Rio Tinto | 179.45 Bn | 145.58 Bn | - | - |
| 2 | Southern Copper | 169.08 Bn | 147.94 Bn | 2.90 Bn | 67.60% |
| 3 | Newmont | 122.31 Bn | 90.49 Bn | 4.03 Bn | 65.87% |
| 4 | Ternium | 109.20 Bn | 74.25 Bn | 941.02 Mn | 21.68% |
| 5 | Freeport-Mcmoran | 103.31 Bn | 99.46 Bn | 2.19 Bn | 31.10% |
| 6 | Agnico Eagle Mines | 92.04 Bn | 92.04 Bn | 2.43 Bn | - |
| 7 | Barrick Mining | 68.84 Bn | 53.58 Bn | 2.90 Bn | 54.74% |
| 8 | Nucor | 55.48 Bn | 46.02 Bn | 2.03 Bn | 19.56% |
| 9 | ArcelorMittal | 53.16 Bn | 34.19 Bn | - | - |
| 10 | MP Materials | 8.27 Bn | 6.81 Bn | 36.20 Mn | 33.37% |
Historic Data
Download Data
Historic 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 | 42.78% |
| Sep 30, 2023 | 57.69% |
| Jun 30, 2023 | 64.54% |
| Mar 31, 2023 | 74.70% |
| Dec 31, 2022 | 73.69% |
| Sep 30, 2022 | 81.99% |
| Jun 30, 2022 | 84.61% |
| Mar 31, 2022 | 86.06% |
| Dec 31, 2021 | 81.38% |
| Sep 30, 2021 | 78.04% |
API Access
MP Materials Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=MP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "MP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=MP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();