• MP Materials average return on tangible equity for 2024 was -3.53, a 133.78% increase from 2023.
• MP Materials average return on tangible equity for 2023 was 10.45, a 54.82% decline from 2022.
• MP Materials average return on tangible equity for 2022 was 23.13, a 153.06% decline from 2021.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.