Tearsheet

USA Rare Earth (USAR)

Market Price (10/31/2025): $19.91 | Market Cap: $1.8 Bil
Sector: Materials | Industry: Diversified Metals & Mining

USA Rare Earth (USAR)

Market Price (10/31/2025): $19.91
Market Cap: $1.8 Bil
Sector: Materials
Industry: Diversified Metals & Mining

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%	Very low revenue Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
1		Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -14 Mil
2		Stock price has recently run up significantly 6M Rtn6 month market price return is 104%, 12M Rtn12 month market price return is 65940%
3		Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.7%
4		High stock price volatility Vol 12M is 62148%

0	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
1	Very low revenue Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
2	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -14 Mil
3	Stock price has recently run up significantly 6M Rtn6 month market price return is 104%, 12M Rtn12 month market price return is 65940%
4	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.7%
5	High stock price volatility Vol 12M is 62148%

Market Valuation & Key Metrics

Valuation
Key Metrics

	10/31/25	2024	2023	2022
Share Price CYE	$19.91	$0.03	$0.03	$0.03
Market Cap CYE ($ Bil)	1.8	0.0	0.0	0.0
Total Debt ($ Bil)	0.0	0.0	0.0	0.0
Total Cash ($ Bil)	0.1	0.0	0.0	0.0
Enterprise Value ($ Bil)	1.7	0.0	0.0	0.0
Valuation Ratios
P/S TTM	0.0	0.0	0.0	0.0
P/EBIT TTM	-21.1	-0.6	-0.1	-0.1
P/E TTM	-24.4	0.3	-0.2	-0.1
Sector Ratios
P/S TTM (Sector)	1.6	1.2	1.3	1.1
P/EBIT TTM (Sector)	6.6	6.3	6.6	4.8
P/E TTM (Sector)	4.6	5.5	7.5	4.6

	10/31/25	2024	2023
Share Price CYE	$19.91	$0.03	$0.03
Market Cap CYE ($ Bil)	1.8	0.0	0.0
Total Debt ($ Bil)	0.0	0.0	0.0
Total Cash ($ Bil)	0.1	0.0	0.0
Enterprise Value ($ Bil)	1.7	0.0	0.0
Valuation Ratios
P/S TTM	0.0	0.0	0.0
P/EBIT TTM	-21.1	-0.6	-0.1
P/E TTM	-24.4	0.3	-0.2
Sector Ratios
P/S TTM (Sector)	1.6	1.2	1.3
P/EBIT TTM (Sector)	6.6	6.3	6.6
P/E TTM (Sector)	4.6	5.5	7.5

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USAR Stock

Return (1M):

Factor Drivers of Stock Movement

The 54.8% change in USAR stock from 7/31/2025 to 10/30/2025 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).

	7312025	10302025	Change
Stock Price ($)	12.71	19.68	54.84%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	�	0.00	�
P/S Multiple	�	∞	�
Shares Outstanding (Mil)	59.42	92.77	-56.11%
Cumulative Contribution			�

LTM = Last Twelve Months as of date shown

The 103.7% change in USAR stock from 5/1/2025 to 10/30/2025 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).

	5012025	10302025	Change
Stock Price ($)	9.66	19.68	103.73%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	0.00	0.00	�
P/S Multiple	∞	∞	�
Shares Outstanding (Mil)	81.95	92.77	-13.20%
Cumulative Contribution			�

LTM = Last Twelve Months as of date shown

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Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
USAR Return	0%	0%	0%	0%	0%	65940%	78994%
Peers Return	34%	3%	14%	-7%	-11%	50%	96%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	110%
Monthly Win Rates [3]
USAR Win Rate	0%	0%	0%	0%	0%	67%
Peers Win Rate	33%	27%	32%	32%	28%	76%
S&P 500 Win Rate	58%	75%	42%	67%	75%	67%
Max Drawdowns [4]
USAR Max Drawdown	0%	0%	0%	0%	0%	0%
Peers Max Drawdown	-32%	-10%	-9%	-15%	-17%	-21%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: VALE, WRN, XPL, ALM, CRML.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

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In The Past

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About USA Rare Earth (USAR)

Business Description

We are a blank check company incorporated on March 6, 2023, as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us. However, members of our management team had been actively in discussions with potential business combination partners in their capacity as officers and directors of Inflection Point Acquisition Corp (“IPAX”), and we may pursue business combination partners that had previously been in discussions with IPAX’s management team. While we may pursue an initial business combination in any industry, sector or geographic region, we intend to focus our search initially on North American and European businesses in disruptive growth sectors, which complements the expertise of our management team. Our company will combine the abilities of a diverse and founder-friendly management team. We have assembled a management team with experience across both public and private markets with deep roots in our target markets. Our team combines decades of experience sourcing, researching, and investing in complex transactions that create value for shareholders. --- We have been formed as part of a long-term strategy to sponsor a series of special purpose acquisition companies (“SPACs”). We have a cohesive team that has worked together in the past and combines extensive transactional, valuation, capital allocation, and SPAC investing expertise. Our combined network for sourcing targets gives us access to companies backed by venture capital and private equity and other private companies, and public companies considering SPAC combinations via spinoffs. We are founder-friendly and seek to partner with a proven, exceptional management team that is already in place. Our executive offices are located at 167 Madison Avenue, Suite 205 #1017, New York, New York.

Better Bets than USA Rare Earth (USAR)

	USAR	Better Performance than USAR
Metric	Value	Industry (Diversified Metals & Mining)
Total Yield	-4.1%	VALE (10.3%), TECK (7.1%), MP (-1.0%), MTRN (0.9%), VZLA (-1.1%)

	USAR	Better Performance than USAR
Metric	Value	Sector (Materials)
Total Yield	-4.1%	LIN (4.7%), SCCO (4.6%), NEM (9.2%), SHW (3.9%), AEM (5.1%)

	USAR	Better Performance than USAR
Metric	Value	All Other Sectors
Total Yield	-4.1%	NVDA (1.8%), AAPL (2.8%), MSFT (3.3%), GOOGL (3.9%), AMZN (3.0%)

		Best Bets In Materials Sector
	USAR	RGLD	USLM	SCCO	CF	EXP	LIN	NEU	NEM	CBT	AXTA
What You Pay
P/E	-24.1	26.0	28.0	31.0	10.4	15.5	30.2	14.7	12.6	8.5	13.5
P/EBIT	-20.8	22.3	24.2	18.4	6.6	11.3	21.7	10.7	8.6	5.5	8.2
What You Get
Rev Chg Q	�	20.4%	19.6%	20.1%	20.2%	4.3%	2.8%	0.6%	20.0%	-9.2%	-2.4%
Rev Chg LTM	�	30.1%	22.0%	23.2%	9.5%	0.9%	1.3%	3.7%	26.6%	-3.6%	-1.8%
Rev Chg 3Y Avg	�	8.2%	19.1%	3.3%	-12.4%	5.6%	0.6%	4.7%	23.9%	-2.5%	2.7%
FCF/Rev 3Y Avg	�	10.2%	24.7%	23.7%	21.3%	17.5%	15.4%	14.0%	13.8%	8.9%	8.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.8%, and sharpe of 0.46

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Day 8 of Loss Streak for USA Rare Earth Stock with -38% Return (vs. 65,940% YTD) [10/30/2025]	Notification
2	Day 6 of Loss Streak for USA Rare Earth Stock with -36% Return (vs. 67,450% YTD) [10/28/2025]	Notification

	Title
0	ARTICLES
1	Day 8 of Loss Streak for USA Rare Earth Stock with -38% Return (vs. 65,940% YTD) [10/30/2025]
2	Day 6 of Loss Streak for USA Rare Earth Stock with -36% Return (vs. 67,450% YTD) [10/28/2025]

Trade Ideas

Select past ideas related to USAR. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
AXTA_9302025_Dip_Buyer_FCFYield	09302025	AXTA	Axalta Coating Systems	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.1%	0.1%	-7.8%
GPK_9302025_Dip_Buyer_ValueBuy	09302025	GPK	Graphic Packaging	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-17.9%	-17.9%	-17.9%
FCX_9302025_Monopoly_xInd_xCD_Getting_Cheaper	09302025	FCX	Freeport-McMoRan	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	6.8%	6.8%	-0.9%
KWR_7312025_Dip_Buyer_FCFYield	07312025	KWR	Quaker Houghton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	10.3%	10.3%	0.0%
TGLS_6302025_Quality_Momentum_RoomToRun_10%	06302025	TGLS	Tecnoglass	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-23.9%	-23.9%	-23.9%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
AXTA_9302025_Dip_Buyer_FCFYield	09302025	AXTA	Axalta Coating Systems	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.1%	0.1%	-7.8%
GPK_9302025_Dip_Buyer_ValueBuy	09302025	GPK	Graphic Packaging	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-17.9%	-17.9%	-17.9%
FCX_9302025_Monopoly_xInd_xCD_Getting_Cheaper	09302025	FCX	Freeport-McMoRan	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	6.8%	6.8%	-0.9%
KWR_7312025_Dip_Buyer_FCFYield	07312025	KWR	Quaker Houghton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	10.3%	10.3%	0.0%
TGLS_6302025_Quality_Momentum_RoomToRun_10%	06302025	TGLS	Tecnoglass	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-23.9%	-23.9%	-23.9%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PRAX	Praxis Precision Medicines	279.1%	161.2%
2	INBX	Inhibrx Biosciences	131.0%	409.8%
3	PUMP	ProPetro	99.6%	16.2%
4	DYN	Dyne Therapeutics	88.4%	-0.0%
5	VICR	Vicor	85.4%	89.2%
6	CELC	Celcuity	74.6%	503.2%
7	GLUE	Monte Rosa Therapeutics	73.5%	87.5%
8	NVTS	Navitas Semiconductor	72.1%	251.8%
9	LUMN	Lumen Technologies	70.3%	94.7%
10	BALY	Ballys	63.4%	4.1%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	-62.9%	5106.3%
2	LRN	Stride	-53.8%	-35.8%
3	FMC	FMC	-51.0%	-66.6%
4	FI	Fiserv	-48.3%	-68.3%
5	NFE	New Fortress Energy	-43.6%	-91.9%
6	VG	Venture Global	-41.7%
7	OGN	Organon	-40.2%	-55.0%
8	VRNS	Varonis Systems	-39.5%	-21.2%
9	ITGR	Integer	-38.5%	-52.2%
10	LENZ	LENZ Therapeutics	-37.9%	5.5%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

Peer Comparisons for USA Rare Earth

Financials

	USAR	VALE	WRN	XPL	ALM	CRML	Median
Name	USA Rare.	Vale	Western .	Solitari.	Almonty .	Critical.
Mkt Price	19.68	11.89	2.10	0.69	6.76	12.88	9.32
Mkt Cap	1.8	50.8	0.4	0.1	-	-	1.1
Rev LTM	0	36,600	0	0	28	-	0
Op Inc LTM	-14	9,986	-8	-6	-20	-	-8
FCF LTM	-19	1,957	-22	-5	-55	-	-19
FCF 3Y Avg	-	4,519	-23	-4	-42	-	-13
CFO LTM	-11	8,104	-5	-5	-20	-	-5
CFO 3Y Avg	-	10,455	-4	-4	-13	-	-4

Growth & Margins

	USAR	VALE	WRN	XPL	ALM	CRML	Median
Name	USA Rare.	Vale	Western .	Solitari.	Almonty .	Critical.
Rev Chg LTM	-	-13.0%	-	-	9.9%	-	-1.5%
Rev Chg 3Y Avg	-	-7.8%	-	-	4.6%	-	-1.6%
Rev Chg Q	-	-11.2%	-	-	-9.4%	-	-10.3%
QoQ Delta Rev Chg LTM	-	-3.0%	-	-	-2.6%	-	-2.8%
Op Mgn LTM	-	27.3%	-	-	-71.3%	-	-22.0%
Op Mgn 3Y Avg	-	32.4%	-	-	-42.8%	-	-5.2%
QoQ Delta Op Mgn LTM	-	-1.1%	-	-	-39.7%	-	-20.4%
CFO/Rev LTM	-	22.1%	-	-	-69.9%	-	-23.9%
CFO/Rev 3Y Avg	-	26.3%	-	-	-50.4%	-	-12.1%
FCF/Rev LTM	-	5.3%	-	-	-193.7%	-	-94.2%
FCF/Rev 3Y Avg	-	11.2%	-	-	-160.1%	-	-74.4%

Valuation

	USAR	VALE	WRN	XPL	ALM	CRML	Median
Name	USA Rare.	Vale	Western .	Solitari.	Almonty .	Critical.
Mkt Cap	1.8	50.8	0.4	0.1	-	-	1.1
P/S	-	1.4	-	-	-	-	1.4
P/EBIT	-20.8	6.8	-50.5	-9.9	-	-	-15.4
P/E	-24.1	9.7	-118.7	-10.9	-	-	-17.5
P/CFO	-160.7	6.3	-89.0	-11.8	-	-	-50.4
Total Yield	-4.1%	10.3%	-0.8%	-9.2%	-	-	-2.5%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	-	-	0.0%
FCF Yield 3Y Avg	-	8.9%	-9.7%	-7.8%	-	-	-7.8%
D/E	0.0	0.4	0.0	0.0	-	-	0.0
Net D/E	-0.1	0.3	-0.1	-0.2	-	-	-0.1

Returns

	USAR	VALE	WRN	XPL	ALM	CRML	Median
Name	USA Rare.	Vale	Western .	Solitari.	Almonty .	Critical.
1M Rtn	14.5%	9.5%	6.6%	-0.7%	12.1%	107.1%	10.8%
3M Rtn	54.8%	29.0%	70.7%	0.4%	83.2%	241.6%	62.8%
6M Rtn	103.7%	33.1%	90.9%	12.0%	-	731.0%	90.9%
12M Rtn	65,940.3%	19.3%	94.4%	2.1%	-	99.1%	94.4%
3Y Rtn	65,940.3%	17.5%	59.1%	28.3%	-	-	43.7%
1M Excs Rtn	5.2%	6.6%	4.4%	-0.3%	11.0%	80.0%	5.9%
3M Excs Rtn	31.8%	17.2%	65.6%	-8.2%	70.4%	228.7%	48.7%
6M Excs Rtn	82.0%	11.3%	69.2%	-9.8%	-	709.2%	69.2%
12M Excs Rtn	65,923.1%	-0.0%	65.5%	-16.5%	-	89.6%	65.5%
3Y Excs Rtn	65,863.5%	-64.6%	-17.7%	-48.5%	-	-	-33.1%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022
Period End	6/30/2025	12/31/2024	12/31/2023	12/31/2022
Filing Date	8/11/2025	3/31/2025	1/6/2025	1/6/2025
Key Financials
Total Revenue	0	0	0	0
EBITDA	-87	-4	-24	-24
Operating Income	-14	-4	-25	-24
Net Income	-76	8	-7	-24
EPS	-0.62	0.10	-0.12	-0.40
Growth Rates
Total Revenue Growth	-	-	-	-
EBITDA Growth	-401.1%	83.1%	-2.1%	-
Operating Income Growth	24.9%	83.6%	-2.2%	-
Net Income Growth	-16429.7%	206.5%	68.9%	-
Margins
EBITDA Margin	-	-	-	-
Operating Income Margin	-	-	-	-
Net Income Margin	-	-	-	-
Cash & Debt
Total Cash	122	0	0	27
Total Debt	1	1	1	1
Net Debt / (Cash)	-120	1	1	-26
Cash Flows
Net Cash from Operations	-11	-1	-22	-15
Free Cash from Operations	-19	-1	-28	-20
Returns to Shareholders
Dividends	0	-0	-0	-0
Share Repurchases	246	247	0	-0

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023
Filing Date	8/11/2025	5/15/2025	3/31/2025	1/6/2025	11/12/2024	5/15/2025	1/6/2025
Key Financials Quarterly
Total Revenue	0	0	0	0	0	0	0
Ebitda	-142	52	5	-2	-3	-4	-22
Operating Income	-9	-9	6	-2	-3	-5	-6
Net Income	-143	52	17	-2	-3	-4	-6
EPS	-1.54	0.75	0.21	-0.03	-0.04	-0.11	-0.10
Key Financials TTM
Total Revenue TTM	0	0	0	0	0	-	-
Ebitda TTM	-87	53	-4	-31	-17	-	-
Operating Income TTM	-14	-8	-4	-16	-18	-	-
Net Income TTM	-76	64	8	-15	-0	-	-
Growth Rates Quarterly
Total Revenue Growth	-	-	-	-	-	-	-
EBITDA Growth	-5299.6%	1272.7%	122.6%	-114.3%	-	-	-
Operating Income Growth	-192.4%	-85.6%	193.9%	59.4%	-	-	-
Net Income Growth	-5387.3%	1259.0%	382.5%	-114.9%	-	-	-
Margins Quarterly
EBITDA Margin	-	-	-	-	-	-	-
Operating Income Margin	-	-	-	-	-	-	-
Net Income Margin	-	-	-	-	-	-	-
Cash & Debt
Total Cash	122	23	0	23	3	-	0
Total Debt	1	1	1	1	1	0	1
Net Debt / (Cash)	-120	-22	1	-22	-3	-	1
Cash Flows Quarterly
FCF from Operations	-8	-10	8	-1	-4	-4	-4
Cash Flows TTM
FCF from Operations TTM	-11	-7	-1	-13	-17	-	-
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0
Share Repurchases	-0	-0	246	0	-0	-0	0
Return on Invested Capital (ROIC) Quarterly
ROIC	-	-	52.9%	-14.4%	-19.5%	-	-8.7%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-	-	-9.6%	-28.8%	-30.0%	-	-

	1M	2M	3M	6M	1Y	3Y
Beta	-1.04	0.72	0.17	-0.73	329.57	149.84
Up Beta	3.65	5.50	4.90	-0.93	598.58	315.45
Down Beta	1.16	-4.56	-4.43	-0.76	-0.62	-0.38
Up Capture	23%	162%	122%	76%	21913%	1970%
Bmk +ve Days	13	23	35	74	144	420
Stock +ve Days	9	19	27	58	61	61
Down Capture	-520%	-145%	-282%	-243%	-92%	-58%
Bmk -ve Days	8	19	29	52	107	330
Stock -ve Days	12	23	36	67	76	76

Short Interest

Short Interest: As Of Date	10152025
Short Interest: Shares Quantity	10,608,474
Short Interest: % Change Since 9302025	51.5%
Average Daily Volume	30,125,737
Days-to-Cover Short Interest	1
Basic Shares Quantity	92,769,000
Short % of Basic Shares	11.4%

Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
8/11/2025	23.3%	1.7%	-10.2%
5/14/2025	6.4%	3.6%	48.9%
SUMMARY STATS
# Positive	2	2	1
# Negative	0	0	1
Median Positive	14.9%	2.6%	48.9%
Median Negative			-10.2%
Max Positive	23.3%	3.6%	48.9%
Max Negative			-10.2%

	Forward Returns
8/11/2025	23.3%	1.7%	-10.2%
5/14/2025	6.4%	3.6%	48.9%
SUMMARY STATS
# Positive	2	2	1
# Negative	0	0	1
Median Positive	14.9%	2.6%	48.9%
Median Negative			-10.2%
Max Positive	23.3%	3.6%	48.9%
Max Negative			-10.2%

SEC Filings

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Report Date	Filing Date	Filing
6302025	8112025	10-Q 6/30/2025
3312025	5152025	10-Q 3/31/2025
12312024	3312025	10-K 12/31/2024
6302024	11122024	S-4 6/30/2024
12312023	1062025	S-4/A 12/31/2023

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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USA Rare Earth (USAR)

Market Price (10/31/2025): $19.91 | Market Cap: $1.8 BilSector: Materials | Industry: Diversified Metals & Mining

USA Rare Earth (USAR)

Market Price (10/31/2025): $19.91Market Cap: $1.8 BilSector: MaterialsIndustry: Diversified Metals & Mining

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Market Price (10/31/2025): $19.91 | Market Cap: $1.8 Bil
Sector: Materials | Industry: Diversified Metals & Mining

Market Price (10/31/2025): $19.91
Market Cap: $1.8 Bil
Sector: Materials
Industry: Diversified Metals & Mining