MVST

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Microvast Holdings, Inc.

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Key Metrics

Previous Close: $0.80
52-Week Range: $0.71 – $7.12
Market Cap: $301.40M
P/E (TTM): —
EPS (TTM): -0.01
Dividend Yield: —

Advanced Metrics

Price/Book: 0.56
PEG Ratio: —
Return on Equity: 11.40%
Return on Assets: 0.48%
Gross Margin: 33.96%
Operating Margin: -1.96%
Profit Margin: 13.95%
Current Ratio: 1.09
Debt/Equity: 0.36
Total Debt: $193.04M
Free Cash Flow: $63.39M
Revenue Growth: -4.50%
Earnings Growth: —
Enterprise Value: $373.15M

MVST Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$204.50M	$306.62M	$379.80M	$427.52M
Cost of Revenue	$195.42M	$249.39M	$260.25M	$305.41M
Gross Profit	$9.07M	$57.23M	$119.55M	$122.11M
Research & Development	$43.51M	$45.00M	$41.06M	$34.11M
Selling, General & Admin	$125.39M	$120.40M	$104.06M	$80.02M
Operating Expenses	$167.22M	$163.45M	$142.47M	$110.98M
Operating Income	-$158.15M	-$106.22M	-$22.92M	$11.13M
EBITDA	-$134.48M	-$80.85M	-$154.91M	$3.49M
Pretax Income	-$158.17M	-$106.40M	-$195.46M	-$34.54M
Income Tax	$33.00K	$10.00K	$0.00	-$5.33M
Net Income	-$158.20M	-$106.34M	-$195.46M	-$29.22M
Diluted EPS	-0.52	-0.34	-0.61	-0.09
Diluted Shares	303.28M	310.91M	318.46M	324.69M

MVST Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$231.42M	$44.54M	$73.01M	$104.96M
Receivables	$124.22M	$177.48M	$146.01M	$169.96M
Inventory	$84.25M	$149.75M	$143.33M	$89.41M
Current Assets	$545.07M	$425.61M	$428.03M	$448.72M
Total Assets	$984.96M	$1.10B	$951.87M	$1.01B
Current Liabilities	$252.41M	$403.41M	$330.15M	$488.34M
Long-Term Debt	$72.89M	$86.92M	$188.83M	$54.92M
Total Debt	$175.00M	$205.18M	$328.89M	$384.49M
Total Liabilities	$371.98M	$532.54M	$563.97M	$594.93M
Retained Earnings	-$791.16M	-$897.50M	-$1.09B	-$1.12B
Shareholders' Equity	$612.98M	$564.19M	$387.89M	$410.51M
Working Capital	$292.66M	$22.20M	$97.87M	-$39.62M
Net Debt	—	$141.14M	$238.25M	$262.26M

MVST Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$53.93M	-$75.30M	$2.81M	$75.91M
Capital Expenditure	-$150.88M	-$186.79M	-$27.72M	-$19.83M
Free Cash Flow	-$204.81M	-$262.09M	-$24.91M	$56.07M
Depreciation & Amortisation	$20.36M	$22.93M	$30.83M	$33.13M
Stock-Based Compensation	$90.81M	$64.97M	$30.84M	$3.07M
Investing Cash Flow	-$175.94M	-$165.60M	-$12.15M	-$16.05M
Financing Cash Flow	$4.97M	$33.04M	$37.59M	-$2.68M
Net Change in Cash	-$224.91M	-$207.87M	$28.25M	$57.18M

MVST Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$116.49M	$91.34M	$123.29M	$96.40M	$60.61M
Cost of Revenue	$73.47M	$59.62M	$76.88M	$95.44M	$41.46M
Gross Profit	$43.02M	$31.72M	$46.41M	$959.00K	$19.16M
Research & Development	$8.25M	$7.72M	$7.76M	$10.38M	$8.81M
Selling, General & Admin	$20.92M	$7.42M	$25.67M	$29.68M	$18.28M
Operating Expenses	$27.75M	$14.14M	$33.38M	$39.37M	$27.09M
Operating Income	$15.27M	$17.58M	$13.03M	-$38.41M	-$7.93M
EBITDA	$70.96M	-$96.10M	$8.78M	$19.85M	$57.52M
Pretax Income	$61.79M	-$105.84M	-$750.00K	$10.26M	$48.21M
Income Tax	$0.00	$220.00K	$739.00K	-$6.28M	—
Net Income	$61.79M	-$106.06M	-$1.49M	$16.54M	$48.21M
Diluted EPS	0.05	-0.33	0.00	0.05	-0.04
Diluted Shares	374.43M	323.64M	323.76M	337.43M	385.27M

MVST Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$90.90M	$99.72M	$90.75M	$104.96M	$126.13M
Receivables	$146.02M	$130.13M	$150.77M	$169.96M	$129.10M
Inventory	$129.06M	$141.75M	$126.94M	$89.41M	$95.04M
Current Assets	$447.99M	$434.59M	$445.26M	$448.72M	$425.82M
Total Assets	$982.93M	$1.00B	$1.01B	$1.01B	$987.50M
Current Liabilities	$339.91M	$524.66M	$529.96M	$488.34M	$444.09M
Long-Term Debt	$143.99M	$75.87M	$76.09M	$54.92M	$27.62M
Total Debt	$296.34M	$403.28M	$429.07M	$384.49M	$325.98M
Total Liabilities	$528.70M	$648.56M	$655.50M	$594.93M	$521.39M
Retained Earnings	-$1.03B	-$1.14B	-$1.14B	-$1.12B	-$1.07B
Shareholders' Equity	$454.24M	$356.13M	$358.11M	$410.51M	$466.11M
Working Capital	$108.09M	-$90.07M	-$84.70M	-$39.62M	-$18.26M
Net Debt	$187.24M	$284.62M	$320.40M	$262.26M	$183.05M

MVST Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$7.17M	$37.15M	$15.16M	$16.42M	-$22.80M
Capital Expenditure	-$2.35M	-$2.86M	-$13.98M	-$643.00K	-$2.85M
Free Cash Flow	$4.82M	$34.29M	$1.18M	$15.78M	-$25.65M
Depreciation & Amortisation	$7.99M	$8.49M	$8.27M	$8.38M	$8.08M
Stock-Based Compensation	$703.00K	$846.00K	$728.00K	$795.00K	$1.01M
Investing Cash Flow	-$2.33M	-$2.75M	-$10.38M	-$590.00K	-$2.80M
Financing Cash Flow	$9.46M	-$16.26M	-$2.75M	$6.86M	$29.32M
Net Change in Cash	$14.30M	$18.15M	$2.04M	$22.69M	$3.73M

Market Snapshot

About

Microvast Holdings is a technology company designing, developing, and manufacturing lithium-ion battery solutions for electric and hybrid vehicles, energy storage systems, and specialty applications. The company produces battery cells, modules, and packs with proprietary chemistry targeting fast charging, long cycle life, and enhanced safety. Microvast serves commercial vehicle OEMs (buses, trucks, construction equipment), passenger EV makers, and grid storage customers globally. With manufacturing in the U.S., Europe, and Asia, the company aims to capture growth in electric transportation and renewable energy storage markets.