MP Materials (MP) FY2023 results: revenue $253 million, down 52.0% on the year
MP Materials Corp. (MP) reported revenue of $253 million for fiscal 2023, the year ended 31 December 2023, down 52.0% on the year before. Net income was $24 million, down 91.6%, and diluted earnings per share $0.14. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$253 million
-52.0% on the year
FY2019FY2023
Operating margin
-7.0%
62.1% a year earlier
FY2019FY2023
Net income
$24 million
-91.6% on the year
FY2019FY2023
Diluted EPS
$0.14
-90.8% on the year
FY2019FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
62.7
344
102
-81.7%
Capital expenditure
262
327
124
-19.8%
Free cash flow
-199
16.9
-21.9
Free cash flow margin
-78.6%
3.2%
-6.6%
Cash from investing
68.7
-1,357
-119
Cash from financing
-9.9
-24.2
666
Depreciation and amortisation
55.7
18.4
24.4
+203.5%
Share-based compensation
25.2
31.8
22.9
-20.6%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
178m
193m
190m
-7.9%
Shares outstanding at period end
178m
178m
178m
+0.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,366
1,313
1,009
+4.0%
Debt
682
678
691
+0.5%
Operating lease liabilities
6.8
0.0
0.0
+45,426.7%
Finance lease liabilities
0.4
0.2
0.6
+60.3%
Other liabilities
281
246
189
+14.2%
Total liabilities and equity
2,336
2,238
1,890
+4.4%
Fixed assets
1,158
936
611
+23.8%
Intangible assets
8.9
0.1
n/a
+9,878.7%
Investments
734
1,046
0.0
-29.8%
Cash and equivalents
263
137
1,179
+92.8%
Receivables
10.0
32.9
51.0
-69.5%
Inventory
95.2
57.6
38.7
+65.4%
Other assets
66.5
29.2
10.1
+127.6%
Total assets
2,336
2,238
1,890
+4.4%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.