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USA Rare Earth
(NASDAQ:USAR)
USA Rare Earth (USAR) vs. SPDR S&P 500 ETF (SPY)
USA Rare Earth Business Overview & Revenue Model
USA Rare Earth Earnings Call Summary
USA Rare Earth Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 5.39M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 2.70M | 0.00 | 0.00 | 0.00 |
| EBITDA | -165.51M | 0.00 | 7.93M | -23.59M |
| Net Income | -246.03M | 8.80M | 6.75M | -23.84M |
Balance Sheet | ||||
| Total Assets | 323.32M | 24.14M | 259.47M | 5.79B |
| Cash, Cash Equivalents and Short-Term Investments | 257.61M | 2.10K | 275.67K | 0.00 |
| Total Debt | 0.00 | 0.00 | 0.00 | 3.36B |
| Total Liabilities | 368.63M | 17.09M | 13.41M | 3.60B |
| Stockholders Equity | 13.27M | 24.14M | 246.06M | 2.19B |
Cash Flow | ||||
| Free Cash Flow | -12.98M | -1.40M | -1.14K | -19.91M |
| Operating Cash Flow | -10.97M | -1.40M | -1.14K | -14.80M |
| Investing Cash Flow | 243.87M | 246.92M | -251.25M | -15.15M |
| Financing Cash Flow | -226.45M | -245.79M | 302.97K | 22.26M |
USA Rare Earth Risk Analysis
USA Rare Earth Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $3.31B | -8.92 | -255.91% | ― | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | $10.42B | -83.69 | -6.83% | ― | 26.44% | -95.87% | |
55 Neutral | $886.47M | -6.54 | -16.00% | 1.17% | -16.89% | -403.77% | |
53 Neutral | $525.08M | -7.93 | -58.41% | ― | 821.40% | 44.70% | |
49 Neutral | $1.72B | -41.77 | -49.09% | ― | ― | -18.77% |
USA Rare Earth Corporate Events
On January 26, 2026, USA Rare Earth announced a non-binding letter of intent with the U.S. Department of Commerce’s CHIPS Program for an expected $1.6 billion package comprising $277 million in proposed federal funding and a proposed $1.3 billion senior secured loan, alongside a collaboration agreement in principle with the Department of Energy’s National Energy Technology Laboratory to advance heavy rare earth separation technologies using digital twin tools. As part of the contemplated CHIPS transaction, the company would issue roughly 16.1 million shares of common stock and about 17.6 million warrants to the U.S. government, which could ultimately own 8%–16% of USA Rare Earth on a fully diluted basis, while funding would be released in phases tied to stringent milestones for developing the Round Top mine, processing and separation facilities, metal and strip-casting capacity, and expanded magnet manufacturing, and the company must still secure an estimated $4.1 billion of additional capex and a $250 million revolving credit facility. On the same date, USA Rare Earth entered into a private securities purchase agreement for a $1.5 billion PIPE, issuing about 69.8 million common shares at $21.50 per share in a Section 4(a)(2) private placement expected to close January 28, 2026, with proceeds earmarked for general corporate purposes; in parallel, it amended existing warrants and its Series A preferred stock terms so that any future “Government Financing” would not trigger exercise price or conversion price adjustments, thereby preserving economic terms for existing security holders while enabling large-scale federal participation. Collectively, the prospective CHIPS funding, DOE collaboration and substantial private capital injection are intended to accelerate USA Rare Earth’s build-out of what it describes as the largest U.S. heavy rare earth and NdFeB magnet production platform by 2030, though the company underscores significant execution, financing, regulatory and dilution risks, including the possibility that government funding may be reduced, delayed, clawed back, or never finalized, and that the government’s equity stake and extensive covenants could materially affect existing investors’ rights, capital structure flexibility and long-term strategic options.
The most recent analyst rating on (USAR) stock is a Hold with a $25.00 price target. To see the full list of analyst forecasts on USA Rare Earth stock, see the USAR Stock Forecast page.
On November 18, 2025, USA Rare Earth, Inc. completed its acquisition of Less Common Metals Ltd. (LCM), a UK-based manufacturer of specialized rare earth metals and alloys. This acquisition marks a significant step in USA Rare Earth’s strategy to create a fully integrated rare earth supply chain, enhancing its access to high-quality rare earth metals and alloys. The acquisition is expected to strengthen USA Rare Earth’s position in the global market by securing a vital link in its supply chain, supporting the expansion of its magnet facility in Oklahoma, and differentiating its platform as a leading producer outside China. LCM’s established relationships with key industry players and its capacity to process recycled rare earth oxides further bolster USA Rare Earth’s capabilities and sustainability efforts.
The most recent analyst rating on (USAR) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on USA Rare Earth stock, see the USAR Stock Forecast page.