MP Materials (MP Materials) Total Inventories : $108.5 Mil (As of Mar. 2024)

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What is MP Materials Total Inventories?

MP Materials's total inventories for the quarter that ended in Mar. 2024 was $108.5 Mil. MP Materials's average total inventories from the quarter that ended in Dec. 2023 to the quarter that ended in Mar. 2024 was $101.8 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. MP Materials's Net-Net Working Capital per share for the quarter that ended in Mar. 2024 was $-1.20.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. MP Materials's Days Inventory for the three months ended in Mar. 2024 was 172.17.

Inventory Turnover measures how fast the company turns over its inventory within a year. MP Materials's Inventory Turnover for the quarter that ended in Mar. 2024 was 0.53.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. MP Materials's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 2.09.

MP Materials Total Inventories Historical Data

The historical data trend for MP Materials's Total Inventories can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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MP Materials Total Inventories Chart

MP Materials Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Total Inventories

23.05

32.27

38.69

57.55

95.18

MP Materials Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Total Inventories	Get a 7-Day Free Trial													61.80	67.78	77.18	95.18	108.51

MP Materials Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

MP Materials (NYSE:MP) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

MP Materials's Net-Net Working Capital Per Share for the quarter that ended in Mar. 2024 is

	Net-Net Working Capital Per Share (Q: Mar. 2024 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(946.767	+	0.75 * 21.6	+	0.5 * 108.509	-	1216.285
-	0	-	0)	/	165.307
=	-1.20

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

MP Materials's Days Inventory for the three months ended in Mar. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Mar. 2024 )	/	Cost of Goods Sold (Q: Mar. 2024 )	*	Days in Period
	=	101.8455	/	53.979	*	365 / 4
	=	172.17

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

MP Materials's Inventory Turnover for the quarter that ended in Mar. 2024 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Mar. 2024 )	/	Average Total Inventories (Q: Mar. 2024 )
	=	53.979	/	101.8455
	=	0.53

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

MP Materials's Inventory to Revenue for the quarter that ended in Mar. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	101.8455	/	48.684
	=	2.09

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

MP Materials Total Inventories Related Terms

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MP Materials (MP Materials) Business Description

Industry

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Traded in Other Exchanges

MP:Mexico

Address

1700 S. Pavilion Center Drive, 8th Floor, Las Vegas, NV, USA, 89135

Website

https://www.mpmaterials.com

MP Materials Corp is the largest producer of rare earth materials in the Western Hemisphere. The company owns and operates the Mountain Pass Rare Earth Mine and Processing Facility, the only rare earth mining and processing site ofscale in North America.

Executives

Michael Stuart Rosenthal	officer: Chief Operating Officer	1700 S. PAVILION CENTER DR., SUITE 800, LAS VEGAS NV 89135
James H. Litinsky	director, officer: Chairman and CEO	C/O MP MATERIALS CORP., 1700 S. PAVILION CENTER DRIVE, SUITE 800, LAS VEGAS NV 89135
Jhl Capital Group Llc	other: See Remarks	1500 N. HALSTED ST., SUITE 200, CHICAGO IL 60642
Arnold W Donald	director	C/O CARNIVAL CORPORATION, 3655 N.W. 87TH AVENUE, MIAMI FL 33178
Daniel Allen Gold	director	6720 VIA AUSTI PARKWAY, SUITE 450, LAS VEGAS NV 89119
Qvt Financial Lp	director, 10 percent owner, other: Director by Deputization	888 SEVENTH AVENUE, 43RD FLOOR, NEW YORK NY 10106
Ryan Corbett	officer: Chief Financial Officer	1700 S. PAVILION CENTER DR., SUITE 800, LAS VEGAS NV 89135
Duckworth Connie K	director	EIGHT WINGS ENTERPRISES, 77 STONE AGTE LANE, LAKE FOREST IL 60045
Andrew A. Mcknight	director, officer: Chief Executive Officer	ONE MARKET PLAZA, SPEAR TOWER 42ND FLOOR, SAN FRANCISCO CA 94123
Elliot Dean Hoops	officer: General Counsel and Secretary	1700 S. PAVILION CENTER DR., SUITE 800, LAS VEGAS NV 89135
Jhl Capital Group Holdings Two Llc	other: See Remarks	1500 N. HALSTED ST.,, SUITE 2000, CHICAGO IL 60642
Richard B Myers	director	C/O NORTHROP GRUMMAN CORPORATION, 2980 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Randall J Weisenburger	director	C/O WASSERSTEIN PERELLA GROUP, 31 WEST 52ND ST 26TH FLOOR, NEW YORK NY 10019
Maryanne Lavan	director	6801 ROCKLEDGE DRIVE, BETHESDA MD 20817
Sheila Bangalore	officer: CSO and General Counsel	6720 VIA AUSTI PARKWAY, SUITE 450, LAS VEGAS NV 89119