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MVST logoMicrovast Holdings, Inc.(MVST)Earnings, Financials & Key Ratios

MVST•NASDAQ
$1.96
$633M mkt cap·Price updated May 6, 2026
SectorIndustrialsIndustryElectrical EquipmentSub-IndustryBattery Packs and Energy Storage Systems
AboutMicrovast Holdings, Inc. designs, develops, and manufactures battery systems for electric vehicles and energy storage systems. The company offers a range of cell chemistries, such as lithium titanate oxide, lithium iron phosphate, and nickel manganese cobalt version 1 and 2.It also designs, develops, and manufactures battery components, such as cathode, anode, electrolyte, and separator. In addition, the company offers battery solutions for commercial vehicles and energy storage systems. Its commercial vehicle markets cover buses, trains, mining trucks, marine and port applications, and automated guided and specialty vehicles, as well as light, medium, heavy-duty trucks in the United States and internationally. The company was incorporated in 2006 and is based in Stafford, Texas.Show more
  • Revenue$428M+12.6%
  • EBITDA$7M+108.2%
  • Net Income-$29M+85.1%
  • EPS (Diluted)-0.09+85.2%
  • Gross Margin28.56%-9.3%
  • EBITDA Margin1.63%+107.3%
  • Operating Margin1.63%+105.3%
  • Net Margin-6.83%+86.7%
  • ROE-7.32%+82.2%
  • ROIC0.92%+107.1%
  • Debt/Equity0.45-46.6%
Technical→

MVST Key Insights

Microvast Holdings, Inc. (MVST) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 31.8%

✗Weaknesses

  • ✗Weak momentum: RS Rating 12 (bottom 12%)
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

MVST Price & Volume

Microvast Holdings, Inc. (MVST) stock price & volume — 10-year historical chart

Loading chart...

MVST Growth Metrics

Microvast Holdings, Inc. (MVST) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years31.79%
3 Years27.87%
TTM12.56%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM86.63%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM58.11%

Return on Capital

10 Years-28557.36%
5 Years-17.86%
3 Years-10.47%
Last Year1.23%

MVST Recent Earnings

Microvast Holdings, Inc. (MVST) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
Mar 16, 2026
EPS
$0.11
Est $0.02
-650.0%
Revenue
$96M
Est $131M
-26.6%
Q4 2025
Nov 10, 2025
EPS
$0.04
Est $0.02
+100.0%
Revenue
$123M
Est $134M
-7.8%
Q3 2025
Aug 11, 2025
EPS
$0.05
Est $0.01
+400.0%
Revenue
$91M
Est $108M
-15.2%
Q2 2025
May 12, 2025
EPS
$0.06
Est $0.02
+400.0%
Revenue
$116M
Est $106M
+9.9%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 16, 2026
$0.11vs $0.02-650.0%
$96Mvs $131M-26.6%
Q4 2025Nov 10, 2025
$0.04vs $0.02+100.0%
$123Mvs $134M-7.8%
Q3 2025Aug 11, 2025
$0.05vs $0.01+400.0%
$91Mvs $108M-15.2%
Q2 2025May 12, 2025
$0.06vs $0.02+400.0%
$116Mvs $106M+9.9%
Based on last 12 quarters of dataView full earnings history →

MVST Peer Comparison

Microvast Holdings, Inc. (MVST) competitors in Battery Packs and Energy Storage Systems — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
SES logoSESSES AI CorporationDirect Competitor317.03M0.98-4.479.29%-331.72%-32.48%0.04
SLDP logoSLDPSolid Power, Inc.Direct Competitor726.87K3.35-6.567.98%-5.12%-21.56%0.02
QS logoQSQuantumScape CorporationProduct Competitor4.87B7.95-10.46-37.3%0.06
CBAT logoCBATCBAK Energy Technology, Inc.Product Competitor70.85M0.796.08-13.61%-4.03%-5.5%0.25
NRGV logoNRGVEnergy Vault Holdings, Inc.Product Competitor728.22M4.21-6.48340.86%-52.97%-146.8%1.07
FLUX logoFLUXFlux Power Holdings, Inc.Product Competitor28.38M1.33-3.339.22%-8.36%-67.4%
ALB logoALBAlbemarle CorporationSupply Chain22.7B192.61-33.50-4.37%-5%-2.7%0.34
LAC logoLACLithium Americas Corp.Supply Chain1.45B5.99-28.52-26.94%0.02

Compare MVST vs Peers

Microvast Holdings, Inc. (MVST) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SES

Most directly comparable listed peer for MVST.

Scale Benchmark

vs ALB

Larger-name benchmark to compare MVST against a more recognizable public peer.

Peer Set

Compare Top 5

vs SES, SLDP, QS, CBAT

MVST Income Statement

Microvast Holdings, Inc. (MVST) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue174.24M76.43M107.52M151.98M204.5M306.62M379.8M427.52M
Revenue Growth %--56.13%40.67%41.35%34.56%49.94%23.87%12.56%
Cost of Goods Sold153.39M76.67M90.38M194.72M195.42M249.39M260.25M305.41M
COGS % of Revenue88.03%100.3%84.06%128.12%95.56%81.34%68.52%71.44%
Gross Profit
20.85M▲ 0%
-231K▼ 101.1%
17.14M▲ 7519.9%
-42.74M▼ 349.4%
9.07M▲ 121.2%
57.23M▲ 530.7%
119.55M▲ 108.9%
122.11M▲ 2.1%
Gross Margin %11.97%-0.3%15.94%-28.12%4.44%18.66%31.48%28.56%
Gross Profit Growth %--101.11%7519.91%-349.38%121.23%530.74%108.91%2.14%
Operating Expenses73.14M53.63M46.25M151.32M169.02M163.96M235.64M69.73M
OpEx % of Revenue41.98%70.17%43.01%99.57%82.65%53.47%62.04%16.31%
Selling, General & Admin46.39M30.88M32.61M123.06M125.39M120.4M104.06M35.62M
SG&A % of Revenue26.62%40.4%30.33%80.98%61.31%39.27%27.4%8.33%
Research & Development32.45M26M16.64M34.38M43.51M45M41.06M34.11M
R&D % of Revenue18.62%34.01%15.47%22.63%21.28%14.68%10.81%7.98%
Other Operating Expenses0-3.24M-3M-6.13M126K-1.45M90.52M0
Operating Income
-57.99M▲ 0%
-53.86M▲ 7.1%
-29.11M▲ 46.0%
-194.06M▼ 566.7%
-159.95M▲ 17.6%
-106.73M▲ 33.3%
-116.09M▼ 8.8%
6.98M▲ 106.0%
Operating Margin %-33.28%-70.47%-27.07%-127.69%-78.22%-34.81%-30.57%1.63%
Operating Income Growth %-7.12%45.96%-566.73%17.58%33.27%-8.77%106.02%
EBITDA-45.24M-38.47M-12.31M-173.35M-139.58M-83.8M-85.26M6.98M
EBITDA Margin %-25.97%-50.34%-11.45%-114.06%-68.26%-27.33%-22.45%1.63%
EBITDA Growth %-14.96%67.99%-1307.64%19.48%39.96%-1.74%108.19%
D&A (Non-Cash Add-back)12.75M15.39M16.79M20.71M20.36M22.93M30.83M0
EBIT-57.99M-53.12M-27.89M-201.07M-154.84M-103.77M-185.75M0
Net Interest Income0-5.47M-5.17M-4.96M-144K981K-8.97M0
Interest Income0884K571K446K3.18M3.61M742K957K
Interest Expense06.35M5.74M5.41M3.32M2.63M9.71M-4.9M
Other Income/Expense3.72M-5.61M-4.52M-12.42M1.78M327K-79.37M-41.53M
Pretax Income
-54.27M▲ 0%
-59.47M▼ 9.6%
-33.62M▲ 43.5%
-206.48M▼ 514.1%
-158.17M▲ 23.4%
-106.4M▲ 32.7%
-195.46M▼ 83.7%
-34.54M▲ 82.3%
Pretax Margin %-31.15%-77.81%-31.27%-135.87%-77.35%-34.7%-51.46%-8.08%
Income Tax6.42M189K1K033K10K05.33M
Effective Tax Rate %-11.84%-0.32%-0%0%-0.02%-0.01%0%-15.42%
Net Income
-100.03M▲ 0%
-72.59M▲ 27.4%
-49.55M▲ 31.7%
-216.01M▼ 335.9%
-158.2M▲ 26.8%
-106.34M▲ 32.8%
-195.46M▼ 83.8%
-29.22M▲ 85.1%
Net Margin %-57.41%-94.97%-46.09%-142.13%-77.36%-34.68%-51.46%-6.83%
Net Income Growth %-27.43%31.74%-335.92%26.76%32.78%-83.81%85.05%
Net Income (Continuing)-100.03M-59.66M-33.63M-206.48M-158.2M-106.41M-195.46M-29.22M
Discontinued Operations00000000
Minority Interest080.56M90.82M00000
EPS (Diluted)
-161.90▲ 0%
-1.70▲ 98.9%
-0.27▲ 84.1%
-1.26▼ 366.7%
-0.52▲ 58.7%
-0.34▲ 34.6%
-0.61▼ 79.4%
-0.09▲ 85.2%
EPS Growth %-98.95%84.12%-366.67%58.73%34.62%-79.41%85.25%
EPS (Basic)-161.90-0.38-0.27-1.26-0.52-0.34-0.61-0.09
Diluted Shares Outstanding617.88K300.52M300.52M185.9M303.28M310.91M318.46M324.69M
Basic Shares Outstanding617.88K300.52M300.52M185.9M303.28M310.91M318.46M324.69M
Dividend Payout Ratio--------

MVST Balance Sheet

Microvast Holdings, Inc. (MVST) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets17.52K396.37K189.32M706.61M545.07M425.61M428.03M448.72M
Cash & Short-Term Investments17.5K29.47M41.2M480.93M256.49M87.65M73.01M104.96M
Cash Only17.5K27.98M21.5M480.93M231.42M82.02M73.01M104.96M
Short-Term Investments01.49M282.25M025.07M5.63M00
Accounts Receivable067.64M100.09M104.25M124.22M177.48M146.01M155.76M
Days Sales Outstanding-323.01339.78250.39221.72211.28140.32132.99
Inventory059.16M44.97M53.42M84.25M155.55M143.33M89.41M
Days Inventory Outstanding-281.66181.61100.14157.36227.66201.02106.86
Other Current Assets0-155.95M055.18M70.73M950K56.47M98.59M
Total Non-Current Assets83.67K280.1M215.19M288.69M439.89M671.13M523.84M556.73M
Property, Plant & Equipment0191.32M198.02M253.06M351.51M640.17M495.82M525.39M
Fixed Asset Turnover-0.40x0.54x0.60x0.58x0.48x0.77x0.81x
Goodwill00000000
Intangible Assets016.08M16.28M15.89M14.28M15.12M13.98M2.18M
Long-Term Investments0280.1M00465K6.17M22K0
Other Non-Current Assets83.67K1.57M890K19.74M74.11M21.64M14.02M23.72M
Total Assets
101.2K▲ 0%
280.5M▲ 277073.5%
404.51M▲ 44.2%
995.29M▲ 146.0%
984.96M▼ 1.0%
1.1B▲ 11.3%
951.87M▼ 13.2%
1.01B▲ 5.6%
Asset Turnover1721.69x0.27x0.27x0.15x0.21x0.28x0.40x0.43x
Asset Growth %-277073.53%44.21%146.05%-1.04%11.35%-13.21%5.63%
Total Current Liabilities75.79K195.8M183.63M175.59M252.41M403.41M330.15M488.34M
Accounts Payable035.58M42.01M40.41M44.98M112.62M64.94M47M
Days Payables Outstanding-169.4169.6575.7484.02164.8291.0856.17
Short-Term Debt75.34K120.89M77.88M74.25M85.84M98.77M122.42M171.37M
Deferred Revenue (Current)0-156.47M2.45M1.53M54.21M43.09M43.68M5.61M
Other Current Liabilities450195.8M8.26M31.56M60.07M137.78M23.77M311.36M
Current Ratio0.23x0.00x1.03x4.02x2.16x1.06x1.30x0.92x
Quick Ratio0.23x-0.30x0.79x3.72x1.83x0.67x0.86x0.74x
Cash Conversion Cycle-435.27351.74274.79295.06274.11250.26183.67
Total Non-Current Liabilities0160.21M514.67M133M119.57M129.13M233.82M106.59M
Long-Term Debt029.26M73.15M73.15M72.89M86.92M188.83M14.48M
Capital Lease Obligations000014.35M17.09M14.6M0
Deferred Tax Liabilities027.07K425.24M00000
Other Non-Current Liabilities0130.92M15.06M57.57M29.27M21.75M24.78M92.12M
Total Liabilities75.79K356.01M698.29M308.59M371.98M532.54M563.97M594.93M
Total Debt75.34K150.15M151.03M147.4M175M205.18M328.89M185.85M
Net Debt57.84K150.01M129.53M-333.53M-56.41M123.17M255.88M80.89M
Debt / Equity2.97x2.51x-0.21x0.29x0.36x0.85x0.45x
Debt / EBITDA-------26.61x
Net Debt / EBITDA-------11.58x
Interest Coverage--8.48x-5.07x-35.86x-48.13x-40.61x-11.95x-
Total Equity
25.41K▲ 0%
59.81M▲ 235302.2%
-293.78M▼ 591.2%
686.7M▲ 333.7%
612.98M▼ 10.7%
564.19M▼ 8.0%
387.89M▼ 31.2%
410.51M▲ 5.8%
Equity Growth %-235302.24%-591.18%333.74%-10.74%-7.96%-31.25%5.83%
Book Value per Share0.040.20-0.983.692.021.811.221.26
Total Shareholders' Equity25.41K-20.75M-75.47M686.7M612.98M564.19M387.89M410.51M
Common Stock7206K6K30K31K32K33K0
Retained Earnings-792-314.73M-398M-632.1M-791.16M-897.5M-1.09B0
Treasury Stock00000000
Accumulated OCI0-9.27M13.39M12.73M-12.05M-19.58M-32.16M0
Minority Interest080.56M90.82M00000

MVST Cash Flow Statement

Microvast Holdings, Inc. (MVST) cash flow — operating, investing & free cash flow history

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations-34213.37M15.56M-45.04M-53.93M-75.3M2.81M75.91M
Operating CF Margin %-0%17.49%14.47%-29.64%-26.37%-24.56%0.74%17.76%
Operating CF Growth %-3909749.12%16.34%-389.53%-19.74%-39.64%103.74%2597.51%
Net Income-792-59.66M-33.63M-206.48M-158.2M-106.41M-195.46M-29.22M
Depreciation & Amortization12.75M15.39M16.79M20.71M20.36M22.93M30.83M33.13M
Stock-Based Compensation00082.89M90.81M64.97M30.84M3.07M
Deferred Taxes0000000-5.43M
Other Non-Cash Items-4505.93M5.35M81.8M23.55M21.69M189.36M74.35M
Working Capital Changes45051.71M27.04M-23.96M-30.45M-78.48M-52.76M0
Change in Receivables20.63M78.76M10.34M-1.83M-35.74M-47.1M15.28M-27.26M
Change in Inventory7.11M10.45M13.61M-25.89M-43.69M-74.41M-546K33.72M
Change in Payables450-12.88M3.82M-2.5M7.15M68.58M-44.52M-20.19M
Cash from Investing156.05M-3.95M-17.67M-87.86M-175.94M-165.6M-12.15M-16.05M
Capital Expenditures-29.81M-20.26M-18.64M-87.86M-150.88M-186.79M-27.72M-19.83M
CapEx % of Revenue17.11%26.51%17.34%57.81%73.78%60.92%7.3%4.64%
Acquisitions00000000
Investments--------
Other Investing185.86M24K13K05K1.65M10.01M3.79M
Cash from Financing17.84K-52.18M-507K624.95M4.97M33.04M37.59M-2.68M
Debt Issued (Net)75.34K-19.48M-507K58.86M4.97M33.04M60.27M0
Equity Issued (Net)25K0000000
Dividends Paid00000000
Share Repurchases00000000
Other Financing-82.5K-32.7M0566.09M00-22.68M-2.68M
Net Change in Cash
143.44M▲ 0%
-43.76M▼ 130.5%
-588K▲ 98.7%
494.91M▲ 84268.9%
-233.49M▼ 147.2%
-214.43M▲ 8.2%
21.41M▲ 110.0%
59.64M▲ 178.5%
Free Cash Flow
-29.81M▲ 0%
-6.89M▲ 76.9%
-3.09M▲ 55.2%
-132.9M▼ 4202.4%
-204.81M▼ 54.1%
-262.09M▼ 28.0%
-24.91M▲ 90.5%
56.07M▲ 325.1%
FCF Margin %-17.11%-9.01%-2.87%-87.45%-100.15%-85.48%-6.56%13.12%
FCF Growth %-76.89%55.16%-4202.4%-54.11%-27.97%90.5%325.13%
FCF per Share-48.25-0.02-0.01-0.71-0.68-0.84-0.080.17
FCF Conversion (FCF/Net Income)0.00x-0.18x-0.31x0.21x0.34x0.71x-0.01x-2.60x
Interest Paid001.97M2.69M5.13M4.37M7.44M0
Taxes Paid058K000000

MVST Key Ratios

Microvast Holdings, Inc. (MVST) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric20182019202020212022202320242025
Return on Equity (ROE)-393706.71%-242.63%--109.95%-24.34%-18.07%-41.06%-7.32%
Return on Invested Capital (ROIC)-52240.54%-44.37%-246.21%-154.09%-26.37%-12.87%-13.08%0.92%
Gross Margin11.97%-0.3%15.94%-28.12%4.44%18.66%31.48%28.56%
Net Margin-57.41%-94.97%-46.09%-142.13%-77.36%-34.68%-51.46%-6.83%
Debt / Equity2.97x2.51x-0.21x0.29x0.36x0.85x0.45x
Interest Coverage--8.48x-5.07x-35.86x-48.13x-40.61x-11.95x-
FCF Conversion0.00x-0.18x-0.31x0.21x0.34x0.71x-0.01x-2.60x
Revenue Growth--56.13%40.67%41.35%34.56%49.94%23.87%12.56%

MVST SEC Filings & Documents

Microvast Holdings, Inc. (MVST) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Mar 16, 2026·SEC

Material company update

Jan 9, 2026·SEC

Material company update

Nov 10, 2025·SEC

10-K Annual Reports

3
FY 2026

Mar 16, 2026·SEC

FY 2025

Mar 31, 2025·SEC

FY 2024

Apr 1, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 10, 2025·SEC

FY 2025

Aug 11, 2025·SEC

FY 2025

May 12, 2025·SEC

MVST Frequently Asked Questions

Microvast Holdings, Inc. (MVST) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Microvast Holdings, Inc. (MVST) reported $427.5M in revenue for fiscal year 2025. This represents a 145% increase from $174.2M in 2018.

Microvast Holdings, Inc. (MVST) grew revenue by 12.6% over the past year. This is steady growth.

Microvast Holdings, Inc. (MVST) reported a net loss of $29.2M for fiscal year 2025.

Dividend & Returns

Microvast Holdings, Inc. (MVST) has a return on equity (ROE) of -7.3%. Negative ROE indicates the company is unprofitable.

Microvast Holdings, Inc. (MVST) generated $56.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More MVST

Microvast Holdings, Inc. (MVST) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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