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USA Rare Earth, Inc. engages in mining, processing, and supplying rare earths and other critical minerals in the United States. It explores for neodymium, dysprosium, terbium, yttrium, gallium, beryllium, lithium, and other critical minerals. The company holds interests in the Round Top Mountain located near Sierra Blanca, Texas. USA Rare Earth, Inc. was founded in 2019 and is based in Stillwater, Oklahoma.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 4 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2M | $-297M | $-298M | $-86M | -60.4% | - | 1791.1% |
| 2024 | $0M | $-16M | $-16M | $-16M | -52.2% | - | 112.2% |
| 2023 | $0M | $-24M | $-7M | $-28M | -1186400.0% | - | -68.9% |
| 2022 | $0M | $-24M | $-24M | $-20M | -86.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 1.64 |
| Operating Revenue | 1.64 |
| Cost Of Revenue | 1.45 |
| Gross Profit | 0.20 |
| Operating Expense | 59.70 |
| Research And Development | 15.88 |
| Selling General And Administration | 43.14 |
| Total Expenses | 61.15 |
| Operating Income | -59.50 |
| Total Operating Income As Reported | -59.50 |
| EBITDA | -296.96 |
| Normalized EBITDA | -52.47 |
| EBIT | -298.54 |
| Interest Income | 5.45 |
| Interest Expense | 0.14 |
| Net Interest Income | 5.31 |
| Other Non Operating Income Expenses | - |
| Other Income Expense | -244.49 |
| Interest Income Non Operating | 5.45 |
| Interest Expense Non Operating | 0.14 |
| Net Non Operating Interest Income Expense | 5.31 |
| Pretax Income | -298.68 |
| Tax Provision | -0.16 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 0 |
| Net Income Continuous Operations | -298.52 |
| Net Income From Continuing And Discontinued Operation | -297.56 |
| Net Income From Continuing Operation Net Minority Interest | -297.56 |
| Net Income | -297.56 |
| Net Income Common Stockholders | -324.51 |
| Net Income Including Noncontrolling Interests | -298.52 |
| Normalized Income | -53.07 |
| Diluted NI Availto Com Stockholders | -324.51 |
| Basic Average Shares | 148.06 |
| Diluted Average Shares | 148.06 |
| Reconciled Depreciation | 1.59 |
| Reconciled Cost Of Revenue | 0.54 |
| Total Unusual Items | -244.49 |
| Total Unusual Items Excluding Goodwill | -244.49 |
| Minority Interests | 0.96 |
| Special Income Charges | 0 |
| Write Off | 0 |
| Gain On Sale Of Security | -244.49 |
| Depreciation Amortization Depletion Income Statement | 0.68 |
| Depreciation And Amortization In Income Statement | 0.68 |
| General And Administrative Expense | - |
| Other Gand A | - |
| Salaries And Wages | - |
| Insurance And Claims | - |
| Other Operating Expenses | - |
| Otherunder Preferred Stock Dividend | 26.95 |
| Earnings From Equity Interest | - |
| Amortization | 0.68 |
| Amortization Of Intangibles Income Statement | 0.68 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| USA Rare Earth, Inc.this co. | USAR | $6.6B | -22.28 | 13.46 | -60.4% | -21.13 |
| SSR Mining Inc. | SSRM | $6.1B | 15.45 | 1.74 | 11.3% | 10.38 |
| Perimeter Solutions, Inc. | PRM | $5.0B | - | 4.39 | -18.2% | - |
| Constellium SE | CSTM | $4.9B | 18.03 | 5.17 | 28.7% | 7.99 |
| UFP Industries, Inc. | UFPI | $4.5B | 15.97 |
| 1.48 |
| 9.3% |
| 6.98 |
| Knife River Corporation | KNF | $4.3B | 27.69 | 2.65 | 9.6% | 11.13 |
| Cabot Corporation | CBT | $4.3B | 12.95 | 2.77 | 21.4% | 6.60 |
| NovaGold Resources Inc. | NG | $3.6B | -37.96 | 21.94 | -57.8% | -45.70 |
| Calumet, Inc. | CLMT | $3.3B | -96.45 | -4.45 | 4.6% | 23.49 |
| Peer Median | - | 15.45 | 2.71 | 9.4% | 7.99 | |