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Side-by-side financial comparison of ST JOE Co (JOE) and MP Materials Corp. (MP). Click either name above to swap in a different company.
ST JOE Co is the larger business by last-quarter revenue ($128.9M vs $90.6M, roughly 1.4× MP Materials Corp.). ST JOE Co runs the higher net margin — 23.2% vs -8.8%, a 32.0% gap on every dollar of revenue. On growth, MP Materials Corp. posted the faster year-over-year revenue change (49.1% vs 23.5%). Over the past eight quarters, MP Materials Corp.'s revenue compounded faster (70.3% CAGR vs 21.2%).
The St. Joe Company is a land development company headquartered in Panama City Beach, Florida. Founded in 1936 and until 1966 known as St. Joe Paper Company, the company still operates a forestry division but is primarily engaged in real estate development and asset management. The company's land holdings are concentrated in Northwest Florida with the vast majority located in Bay and Walton counties. Of the 110,500 acres The St. Joe Company owns that fall within the Bay-Walton Sector Plan, 53...
MP Materials Corp. is a U.S.-based producer of rare earth materials. The company owns and operates the Mountain Pass mine in California, the only active rare earth mining and processing facility in the Western Hemisphere, producing essential materials for electric vehicles, wind turbines, and defense applications.
JOE vs MP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $128.9M | $90.6M |
| Net Profit | $29.9M | $-8.0M |
| Gross Margin | 45.4% | — |
| Operating Margin | 30.6% | — |
| Net Margin | 23.2% | -8.8% |
| Revenue YoY | 23.5% | 49.1% |
| Net Profit YoY | 58.2% | 64.8% |
| EPS (diluted) | $0.51 | $-0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $90.6M | ||
| Q4 25 | $128.9M | $52.7M | ||
| Q3 25 | $161.1M | $53.6M | ||
| Q2 25 | $129.1M | $57.4M | ||
| Q1 25 | $94.2M | $60.8M | ||
| Q4 24 | $104.3M | $61.0M | ||
| Q3 24 | $99.0M | $62.9M | ||
| Q2 24 | $111.6M | $31.3M |
| Q1 26 | — | $-8.0M | ||
| Q4 25 | $29.9M | $9.4M | ||
| Q3 25 | $38.7M | $-41.8M | ||
| Q2 25 | $29.5M | $-30.9M | ||
| Q1 25 | $17.5M | $-22.6M | ||
| Q4 24 | $18.9M | $-22.3M | ||
| Q3 24 | $16.8M | $-25.5M | ||
| Q2 24 | $24.5M | $-34.1M |
| Q1 26 | — | — | ||
| Q4 25 | 45.4% | — | ||
| Q3 25 | 44.4% | — | ||
| Q2 25 | 42.9% | — | ||
| Q1 25 | 37.8% | — | ||
| Q4 24 | 42.3% | — | ||
| Q3 24 | 39.4% | — | ||
| Q2 24 | 44.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | 30.6% | -7.0% | ||
| Q3 25 | 32.9% | -125.2% | ||
| Q2 25 | 28.6% | -76.5% | ||
| Q1 25 | 17.9% | -57.2% | ||
| Q4 24 | 24.7% | -72.1% | ||
| Q3 24 | 21.5% | -62.8% | ||
| Q2 24 | 29.2% | -171.1% |
| Q1 26 | — | -8.8% | ||
| Q4 25 | 23.2% | 17.9% | ||
| Q3 25 | 24.0% | -78.0% | ||
| Q2 25 | 22.9% | -53.8% | ||
| Q1 25 | 18.5% | -37.2% | ||
| Q4 24 | 18.1% | -36.6% | ||
| Q3 24 | 17.0% | -40.5% | ||
| Q2 24 | 22.0% | -108.9% |
| Q1 26 | — | $-0.04 | ||
| Q4 25 | $0.51 | $0.07 | ||
| Q3 25 | $0.67 | $-0.24 | ||
| Q2 25 | $0.51 | $-0.19 | ||
| Q1 25 | $0.30 | $-0.14 | ||
| Q4 24 | $0.32 | $-0.12 | ||
| Q3 24 | $0.29 | $-0.16 | ||
| Q2 24 | $0.42 | $-0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $129.6M | $1.7B |
| Total DebtLower is stronger | $391.2M | $1.0B |
| Stockholders' EquityBook value | $766.3M | $2.0B |
| Total Assets | $1.5B | $3.8B |
| Debt / EquityLower = less leverage | 0.51× | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.7B | ||
| Q4 25 | $129.6M | $1.2B | ||
| Q3 25 | $126.1M | $1.1B | ||
| Q2 25 | $88.2M | $261.5M | ||
| Q1 25 | $94.5M | $198.3M | ||
| Q4 24 | $88.8M | $282.4M | ||
| Q3 24 | $82.7M | $284.4M | ||
| Q2 24 | $86.7M | $295.6M |
| Q1 26 | — | $1.0B | ||
| Q4 25 | $391.2M | $998.7M | ||
| Q3 25 | $399.0M | $997.3M | ||
| Q2 25 | $427.3M | $910.8M | ||
| Q1 25 | $434.8M | $909.8M | ||
| Q4 24 | $437.8M | $908.7M | ||
| Q3 24 | $443.3M | — | ||
| Q2 24 | $447.4M | — |
| Q1 26 | — | $2.0B | ||
| Q4 25 | $766.3M | $2.0B | ||
| Q3 25 | $760.7M | $2.0B | ||
| Q2 25 | $738.8M | $1.0B | ||
| Q1 25 | $727.9M | $1.0B | ||
| Q4 24 | $724.3M | $1.1B | ||
| Q3 24 | $716.4M | $1.1B | ||
| Q2 24 | $708.1M | $1.1B |
| Q1 26 | — | $3.8B | ||
| Q4 25 | $1.5B | $3.9B | ||
| Q3 25 | $1.5B | $3.8B | ||
| Q2 25 | $1.5B | $2.3B | ||
| Q1 25 | $1.5B | $2.4B | ||
| Q4 24 | $1.5B | $2.3B | ||
| Q3 24 | $1.5B | $2.3B | ||
| Q2 24 | $1.6B | $2.4B |
| Q1 26 | — | 0.51× | ||
| Q4 25 | 0.51× | 0.50× | ||
| Q3 25 | 0.52× | 0.51× | ||
| Q2 25 | 0.58× | 0.90× | ||
| Q1 25 | 0.60× | 0.88× | ||
| Q4 24 | 0.60× | 0.86× | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.63× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $190.7M | $-1.9M |
| Free Cash FlowOCF − Capex | $186.6M | — |
| FCF MarginFCF / Revenue | 144.8% | — |
| Capex IntensityCapex / Revenue | 3.1% | — |
| Cash ConversionOCF / Net Profit | 6.37× | — |
| TTM Free Cash FlowTrailing 4 quarters | $329.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-1.9M | ||
| Q4 25 | $190.7M | $-46.9M | ||
| Q3 25 | $86.2M | $-42.0M | ||
| Q2 25 | $31.1M | $-3.7M | ||
| Q1 25 | $29.0M | $-63.2M | ||
| Q4 24 | $108.0M | $30.5M | ||
| Q3 24 | $27.7M | $-6.8M | ||
| Q2 24 | $22.8M | $30.8M |
| Q1 26 | — | — | ||
| Q4 25 | $186.6M | $-109.3M | ||
| Q3 25 | $85.2M | $-92.5M | ||
| Q2 25 | $29.7M | $-32.7M | ||
| Q1 25 | $27.8M | $-93.7M | ||
| Q4 24 | $100.2M | $-11.2M | ||
| Q3 24 | $25.9M | $-53.3M | ||
| Q2 24 | $21.5M | $-15.6M |
| Q1 26 | — | — | ||
| Q4 25 | 144.8% | -207.4% | ||
| Q3 25 | 52.9% | -172.8% | ||
| Q2 25 | 23.0% | -56.9% | ||
| Q1 25 | 29.6% | -154.0% | ||
| Q4 24 | 96.1% | -18.3% | ||
| Q3 24 | 26.2% | -84.7% | ||
| Q2 24 | 19.3% | -50.1% |
| Q1 26 | — | — | ||
| Q4 25 | 3.1% | 118.5% | ||
| Q3 25 | 0.6% | 94.3% | ||
| Q2 25 | 1.0% | 50.5% | ||
| Q1 25 | 1.2% | 50.1% | ||
| Q4 24 | 7.4% | 68.3% | ||
| Q3 24 | 1.8% | 73.8% | ||
| Q2 24 | 1.2% | 148.7% |
| Q1 26 | — | — | ||
| Q4 25 | 6.37× | -4.97× | ||
| Q3 25 | 2.23× | — | ||
| Q2 25 | 1.05× | — | ||
| Q1 25 | 1.66× | — | ||
| Q4 24 | 5.71× | — | ||
| Q3 24 | 1.65× | — | ||
| Q2 24 | 0.93× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JOE
| Residential Real Estate Segment | $57.2M | 44% |
| Hospitality Segment | $47.4M | 37% |
| Commercial | $20.5M | 16% |
| Sjbb Llc | $2.8M | 2% |
MP
| Materials Segment | $72.2M | 80% |
| Magnetics Segment | $21.1M | 23% |
