Cash exceeds market value plus debt. Its cash is worth more than its market value plus debt.
USA Rare Earth's cash is larger than its market value and debt combined (enterprise value at or below zero). The market is valuing the operating business at nothing or less, which is rare.USA Rare Earth's cash is larger than its market value and debt combined. The market is valuing the operating business at nothing or less, which is rare.
Not profitable yet. Reported a loss in the 12 months to June 2026.
USA Rare Earth reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.
Little borrowing.Debt is 0.00× equity vs a peer median of 0.4×.Debt is 0.00× equity vs peers 0.4×.
USA Rare Earth has among the least debt in its peer group relative to shareholders' equity.
More volatile share price. Beta 2.61: tends to move more than the market.
USA Rare Earth's shares have swung more with the market than most peers' (beta 2.61, above the market's 1.0).
Sector-normalized EBITDA, earnings, and free cash flow yields.
Earnings yield-8.7%
SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0364 · MAD: 0.0364
EBITDA yieldUnavailable
Cash exceeds market value plus debt, so EBITDA yield is not meaningful and is left out · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0854 · MAD: 0.0520
Free cash flow yield-7.5%
SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0261 · MAD: 0.0261
Yahoo Finance fallback · no standard SEC debt tagOutlier capped at sector 5th/95th percentile33% base weight · Z-score 1.21Sector median: 0.3578 · MAD: 0.2929
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about USA Rare Earth
Is USA Rare Earth getting weaker?
Its latest SEC filing (Aug 10, 2026) showed no major changes. Its overall score is unchanged at 38/100 since Oct 28, 2026.
How is USA Rare Earth valued vs its peers?
Priced higher than most peers relative to what it earns. Valuation scores 20/100 against 1,371 basic materials peers.Earnings yield -8.7% vs a peer median of 3.6% (weaker than 100% of peers).Earnings yield -8.7% vs peers 3.6% (weaker than 100% of peers).
Is USA Rare Earth growing?
Insufficient data: 1 of 3 inputs reported (at least 2 needed).
How profitable is USA Rare Earth?
Less profitable than most of its peers. Profitability scores 2/100 against 1,371 basic materials peers.Operating margin -949.5% vs a peer median of 7.6% (weaker than 100% of peers).Operating margin -949.5% vs peers 7.6% (weaker than 100% of peers).
How risky is USA Rare Earth?
Lower risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings.Current ratio 32.79× vs a peer median of 1.76× (stronger than 95% of peers).Current ratio 32.79× vs peers 1.76× (stronger than 95% of peers).Beta 2.61 vs a peer median of 0.69 (weaker than 100% of peers).Beta 2.61 vs peers 0.69 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 10, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Worth watching: USA Rare Earth is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.
Previous quarter
Latest quarter
Change
Revenue (12 months)
7.3M USD
13.2M USD
+79.3%
Net income (12 months)
−416.4M USD
−284.2M USD
−31.7%
Operating margin
-1191.4%
-949.5%
+241.9 pts
Free cash flow (12 months)
−130.1M USD
−245.5M USD
+88.8%
Cash
1.7B USD
1.5B USD
−12.5%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Sector: Basic Materials · 121 companies
Valuations in Basic Materials are near the top of their range since 2016.
84% of months since 2016 were valued lower than now.
43% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +23% and earnings +13% (medians): prices and earnings moved broadly together.
Median price-to-sales is −9% vs the whole market, against a usual −27%.
2016Shaded: most expensive fifth of its range2026
Shown for Basic Materials: too few Other Industrial Metals & Mining companies have a long enough history of their own.
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2024
FY 2025
Change
Gross margin
—
11.9%
—
Operating margin
—
-3621.6%
—
Net margin
—
-18110.7%
—
Return on assets (ROA)
-22.8%
-42.8%
▼ 20 pts
Return on equity (ROE)
—
-60.2%
—
Free cash flow margin
—
-5255.3%
—
Current ratio
3.22×
10.17×
▲ 216%
Quick ratio
3.22×
9.68×
▲ 201%
Debt to equity
—
0.00×
—
USAR price history
Price history is added with the daily price update and will appear after the next one.