8-K Announcements
6Mar 16, 2026·SEC
Jan 9, 2026·SEC
Nov 10, 2025·SEC
Microvast Holdings, Inc. (MVST) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Microvast Holdings, Inc. (MVST) stock price & volume — 10-year historical chart
Microvast Holdings, Inc. (MVST) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Microvast Holdings, Inc. (MVST) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 16, 2026 | $0.11vs $0.02-650.0% | $96Mvs $131M-26.6% |
| Q4 2025 | Nov 10, 2025 | $0.04vs $0.02+100.0% | $123Mvs $134M-7.8% |
| Q3 2025 | Aug 11, 2025 | $0.05vs $0.01+400.0% | $91Mvs $108M-15.2% |
| Q2 2025 | May 12, 2025 | $0.06vs $0.02+400.0% | $116Mvs $106M+9.9% |
Microvast Holdings, Inc. (MVST) competitors in Battery Packs and Energy Storage Systems — business model, growth, and fundamentals comparison
Microvast Holdings, Inc. (MVST) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Microvast Holdings, Inc. (MVST) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 174.24M | 76.43M | 107.52M | 151.98M | 204.5M | 306.62M | 379.8M | 427.52M |
| Revenue Growth % | - | -56.13% | 40.67% | 41.35% | 34.56% | 49.94% | 23.87% | 12.56% |
| Cost of Goods Sold | 153.39M | 76.67M | 90.38M | 194.72M | 195.42M | 249.39M | 260.25M | 305.41M |
| COGS % of Revenue | 88.03% | 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 Expenses | 73.14M | 53.63M | 46.25M | 151.32M | 169.02M | 163.96M | 235.64M | 69.73M |
| OpEx % of Revenue | 41.98% | 70.17% | 43.01% | 99.57% | 82.65% | 53.47% | 62.04% | 16.31% |
| Selling, General & Admin | 46.39M | 30.88M | 32.61M | 123.06M | 125.39M | 120.4M | 104.06M | 35.62M |
| SG&A % of Revenue | 26.62% | 40.4% | 30.33% | 80.98% | 61.31% | 39.27% | 27.4% | 8.33% |
| Research & Development | 32.45M | 26M | 16.64M | 34.38M | 43.51M | 45M | 41.06M | 34.11M |
| R&D % of Revenue | 18.62% | 34.01% | 15.47% | 22.63% | 21.28% | 14.68% | 10.81% | 7.98% |
| Other Operating Expenses | 0 | -3.24M | -3M | -6.13M | 126K | -1.45M | 90.52M | 0 |
| 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 | -85.26M | 6.98M |
| 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) | 12.75M | 15.39M | 16.79M | 20.71M | 20.36M | 22.93M | 30.83M | 0 |
| EBIT | -57.99M | -53.12M | -27.89M | -201.07M | -154.84M | -103.77M | -185.75M | 0 |
| Net Interest Income | 0 | -5.47M | -5.17M | -4.96M | -144K | 981K | -8.97M | 0 |
| Interest Income | 0 | 884K | 571K | 446K | 3.18M | 3.61M | 742K | 957K |
| Interest Expense | 0 | 6.35M | 5.74M | 5.41M | 3.32M | 2.63M | 9.71M | -4.9M |
| Other Income/Expense | 3.72M | -5.61M | -4.52M | -12.42M | 1.78M | 327K | -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 Tax | 6.42M | 189K | 1K | 0 | 33K | 10K | 0 | 5.33M |
| 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 Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 80.56M | 90.82M | 0 | 0 | 0 | 0 | 0 |
| 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 Outstanding | 617.88K | 300.52M | 300.52M | 185.9M | 303.28M | 310.91M | 318.46M | 324.69M |
| Basic Shares Outstanding | 617.88K | 300.52M | 300.52M | 185.9M | 303.28M | 310.91M | 318.46M | 324.69M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Microvast Holdings, Inc. (MVST) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 17.52K | 396.37K | 189.32M | 706.61M | 545.07M | 425.61M | 428.03M | 448.72M |
| Cash & Short-Term Investments | 17.5K | 29.47M | 41.2M | 480.93M | 256.49M | 87.65M | 73.01M | 104.96M |
| Cash Only | 17.5K | 27.98M | 21.5M | 480.93M | 231.42M | 82.02M | 73.01M | 104.96M |
| Short-Term Investments | 0 | 1.49M | 282.25M | 0 | 25.07M | 5.63M | 0 | 0 |
| Accounts Receivable | 0 | 67.64M | 100.09M | 104.25M | 124.22M | 177.48M | 146.01M | 155.76M |
| Days Sales Outstanding | - | 323.01 | 339.78 | 250.39 | 221.72 | 211.28 | 140.32 | 132.99 |
| Inventory | 0 | 59.16M | 44.97M | 53.42M | 84.25M | 155.55M | 143.33M | 89.41M |
| Days Inventory Outstanding | - | 281.66 | 181.61 | 100.14 | 157.36 | 227.66 | 201.02 | 106.86 |
| Other Current Assets | 0 | -155.95M | 0 | 55.18M | 70.73M | 950K | 56.47M | 98.59M |
| Total Non-Current Assets | 83.67K | 280.1M | 215.19M | 288.69M | 439.89M | 671.13M | 523.84M | 556.73M |
| Property, Plant & Equipment | 0 | 191.32M | 198.02M | 253.06M | 351.51M | 640.17M | 495.82M | 525.39M |
| Fixed Asset Turnover | - | 0.40x | 0.54x | 0.60x | 0.58x | 0.48x | 0.77x | 0.81x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 16.08M | 16.28M | 15.89M | 14.28M | 15.12M | 13.98M | 2.18M |
| Long-Term Investments | 0 | 280.1M | 0 | 0 | 465K | 6.17M | 22K | 0 |
| Other Non-Current Assets | 83.67K | 1.57M | 890K | 19.74M | 74.11M | 21.64M | 14.02M | 23.72M |
| 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 Turnover | 1721.69x | 0.27x | 0.27x | 0.15x | 0.21x | 0.28x | 0.40x | 0.43x |
| Asset Growth % | - | 277073.53% | 44.21% | 146.05% | -1.04% | 11.35% | -13.21% | 5.63% |
| Total Current Liabilities | 75.79K | 195.8M | 183.63M | 175.59M | 252.41M | 403.41M | 330.15M | 488.34M |
| Accounts Payable | 0 | 35.58M | 42.01M | 40.41M | 44.98M | 112.62M | 64.94M | 47M |
| Days Payables Outstanding | - | 169.4 | 169.65 | 75.74 | 84.02 | 164.82 | 91.08 | 56.17 |
| Short-Term Debt | 75.34K | 120.89M | 77.88M | 74.25M | 85.84M | 98.77M | 122.42M | 171.37M |
| Deferred Revenue (Current) | 0 | -156.47M | 2.45M | 1.53M | 54.21M | 43.09M | 43.68M | 5.61M |
| Other Current Liabilities | 450 | 195.8M | 8.26M | 31.56M | 60.07M | 137.78M | 23.77M | 311.36M |
| Current Ratio | 0.23x | 0.00x | 1.03x | 4.02x | 2.16x | 1.06x | 1.30x | 0.92x |
| Quick Ratio | 0.23x | -0.30x | 0.79x | 3.72x | 1.83x | 0.67x | 0.86x | 0.74x |
| Cash Conversion Cycle | - | 435.27 | 351.74 | 274.79 | 295.06 | 274.11 | 250.26 | 183.67 |
| Total Non-Current Liabilities | 0 | 160.21M | 514.67M | 133M | 119.57M | 129.13M | 233.82M | 106.59M |
| Long-Term Debt | 0 | 29.26M | 73.15M | 73.15M | 72.89M | 86.92M | 188.83M | 14.48M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 14.35M | 17.09M | 14.6M | 0 |
| Deferred Tax Liabilities | 0 | 27.07K | 425.24M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 130.92M | 15.06M | 57.57M | 29.27M | 21.75M | 24.78M | 92.12M |
| Total Liabilities | 75.79K | 356.01M | 698.29M | 308.59M | 371.98M | 532.54M | 563.97M | 594.93M |
| Total Debt | 75.34K | 150.15M | 151.03M | 147.4M | 175M | 205.18M | 328.89M | 185.85M |
| Net Debt | 57.84K | 150.01M | 129.53M | -333.53M | -56.41M | 123.17M | 255.88M | 80.89M |
| Debt / Equity | 2.97x | 2.51x | - | 0.21x | 0.29x | 0.36x | 0.85x | 0.45x |
| 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 Share | 0.04 | 0.20 | -0.98 | 3.69 | 2.02 | 1.81 | 1.22 | 1.26 |
| Total Shareholders' Equity | 25.41K | -20.75M | -75.47M | 686.7M | 612.98M | 564.19M | 387.89M | 410.51M |
| Common Stock | 720 | 6K | 6K | 30K | 31K | 32K | 33K | 0 |
| Retained Earnings | -792 | -314.73M | -398M | -632.1M | -791.16M | -897.5M | -1.09B | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | -9.27M | 13.39M | 12.73M | -12.05M | -19.58M | -32.16M | 0 |
| Minority Interest | 0 | 80.56M | 90.82M | 0 | 0 | 0 | 0 | 0 |
Microvast Holdings, Inc. (MVST) cash flow — operating, investing & free cash flow history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -342 | 13.37M | 15.56M | -45.04M | -53.93M | -75.3M | 2.81M | 75.91M |
| 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 & Amortization | 12.75M | 15.39M | 16.79M | 20.71M | 20.36M | 22.93M | 30.83M | 33.13M |
| Stock-Based Compensation | 0 | 0 | 0 | 82.89M | 90.81M | 64.97M | 30.84M | 3.07M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5.43M |
| Other Non-Cash Items | -450 | 5.93M | 5.35M | 81.8M | 23.55M | 21.69M | 189.36M | 74.35M |
| Working Capital Changes | 450 | 51.71M | 27.04M | -23.96M | -30.45M | -78.48M | -52.76M | 0 |
| Change in Receivables | 20.63M | 78.76M | 10.34M | -1.83M | -35.74M | -47.1M | 15.28M | -27.26M |
| Change in Inventory | 7.11M | 10.45M | 13.61M | -25.89M | -43.69M | -74.41M | -546K | 33.72M |
| Change in Payables | 450 | -12.88M | 3.82M | -2.5M | 7.15M | 68.58M | -44.52M | -20.19M |
| Cash from Investing | 156.05M | -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 Revenue | 17.11% | 26.51% | 17.34% | 57.81% | 73.78% | 60.92% | 7.3% | 4.64% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | 185.86M | 24K | 13K | 0 | 5K | 1.65M | 10.01M | 3.79M |
| Cash from Financing | 17.84K | -52.18M | -507K | 624.95M | 4.97M | 33.04M | 37.59M | -2.68M |
| Debt Issued (Net) | 75.34K | -19.48M | -507K | 58.86M | 4.97M | 33.04M | 60.27M | 0 |
| Equity Issued (Net) | 25K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -82.5K | -32.7M | 0 | 566.09M | 0 | 0 | -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 | -0.08 | 0.17 |
| FCF Conversion (FCF/Net Income) | 0.00x | -0.18x | -0.31x | 0.21x | 0.34x | 0.71x | -0.01x | -2.60x |
| Interest Paid | 0 | 0 | 1.97M | 2.69M | 5.13M | 4.37M | 7.44M | 0 |
| Taxes Paid | 0 | 58K | 0 | 0 | 0 | 0 | 0 | 0 |
Microvast Holdings, Inc. (MVST) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| 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 Margin | 11.97% | -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 / Equity | 2.97x | 2.51x | - | 0.21x | 0.29x | 0.36x | 0.85x | 0.45x |
| Interest Coverage | - | -8.48x | -5.07x | -35.86x | -48.13x | -40.61x | -11.95x | - |
| FCF Conversion | 0.00x | -0.18x | -0.31x | 0.21x | 0.34x | 0.71x | -0.01x | -2.60x |
| Revenue Growth | - | -56.13% | 40.67% | 41.35% | 34.56% | 49.94% | 23.87% | 12.56% |
Microvast Holdings, Inc. (MVST) SEC filings — annual & quarterly reports (10-K, 10-Q)
Mar 16, 2026·SEC
Jan 9, 2026·SEC
Nov 10, 2025·SEC
Microvast Holdings, Inc. (MVST) stock FAQ — growth, dividends, profitability & financials explained
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.
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.
Microvast Holdings, Inc. (MVST) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates