Microvast Holdings (MVST) AI Stock Analysis

• Market Cap: $1.08B
• Dividend Yield: N/A
• Average Volume (3M): 7.86M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.74
• Revenue Growth: 21.69%
• EPS Growth: -28.26%
• Country: US
• Employees: 1,921
• Sector: Industrials
• Sector Strength: 94
• Industry: Electrical Equipment & Parts
• EPS (TTM): 0.05
• Shares Outstanding: 325,341,400
• 10 Day Avg. Volume: 5,853,458
• 30 Day Avg. Volume: 7,862,370
• PEG Ratio: -0.19
• Price to Book (P/B): 2.23
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 372.79
• Enterprise Value/Market Cap: 1.14
• Enterprise Value/Revenue: 0.81
• Enterprise Value/Gross Profit: 8.42
• Enterprise Value/Ebitda: -2.40
• 1Y Price Target: $3.00
• Price Target Upside: -15.73% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 57 Neutral
• Price Target: $3.50 ▼(-1.69%Downside)

Microvast Holdings' overall score is driven by strong recent earnings performance, reflecting significant revenue and profitability improvements. However, challenges remain with profitability and valuation metrics. Technical indicators and financial performance present a mixed picture, suggesting cautious optimism.

Positive Factors

Market Performance

Strong revenue performance was primarily supported by 123% growth in the EMEA region.

Revenue Growth

Microvast reported revenues of $116.5M, up 43.2% year-over-year, significantly beating expectations.

Technology Innovation

The company highlighted its solid-state battery 3D printing technology that allows for cell fabrication with varying sizes, shapes, and design adaptability, which should open new applications.

Negative Factors

Risks and Challenges

Risks include dilution risk, customer concentration risk, execution risk, regulatory risk, raw material supply risk, competition risk, technological risks, and uncertainty related to macroeconomic conditions.

Microvast Holdings Business Overview & Revenue Model

Company Description

Microvast 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.

How the Company Makes Money

Microvast Holdings generates revenue primarily through the sale of its battery systems to original equipment manufacturers (OEMs) and other industrial partners. The company's key revenue streams include the production and distribution of lithium-ion battery cells, modules, and packs that are integrated into electric vehicles and energy storage solutions. Microvast also partners with various automotive and technology companies to enhance its product offerings and expand its market presence. Additionally, the company's investments in research and development enable it to maintain a competitive edge by innovating new battery technologies that meet the evolving demands of the electric vehicle and energy storage markets.

Microvast Holdings Financial Statement Overview

Summary

Microvast Holdings shows a mixed financial performance. While there is revenue growth, profitability remains a challenge with negative profit margins and net losses. The balance sheet reflects a manageable debt level, but the lack of positive return on equity is concerning. Cash flow improvements are noted, yet sustainable positive cash generation is still needed. Overall, the company faces challenges in converting growth into profitability, but improvements in financial metrics present potential for future stability.

Income Statement

Microvast Holdings shows a pattern of growing revenues, with a TTM (Trailing-Twelve-Months) revenue increase of approximately 9.25% from the previous year. However, the company is struggling with profitability, as indicated by negative net profit margins and declining EBIT and EBITDA margins. This implies operational inefficiencies and challenges in achieving profitability.

Balance Sheet

The balance sheet reflects a moderate financial position with a debt-to-equity ratio of 0.33 in the TTM, which shows improvement from previous years and indicates a relatively lower reliance on debt financing. However, the company has yet to achieve positive return on equity (ROE) due to persistent net losses, which impacts overall financial health.

Cash Flow

Cash flow analysis shows some improvement, with positive free cash flow in the TTM, although the growth rate from the previous year is minimal. The operating cash flow to net income ratio is strong, suggesting efficient cash generation relative to reported losses. However, free cash flow remains constrained, reflecting the challenge in achieving sustainable cash profitability.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	379.80M	306.62M	204.50M	151.98M	107.52M
Gross Profit	119.55M	57.23M	9.07M	-42.74M	17.14M
EBITDA	-154.91M	-80.85M	-132.26M	-180.36M	-11.09M
Net Income	-195.46M	-106.34M	-158.20M	-216.01M	-49.55M
Balance Sheet
Total Assets	951.87M	1.10B	984.96M	995.29M	404.51M
Cash, Cash Equivalents and Short-Term Investments	73.01M	51.13M	256.49M	480.93M	21.50M
Total Debt	328.89M	202.77M	173.07M	147.40M	151.03M
Total Liabilities	563.97M	532.54M	371.98M	308.59M	698.29M
Stockholders Equity	387.89M	564.19M	612.98M	686.70M	-384.60M
Cash Flow
Free Cash Flow	-24.91M	-262.09M	-204.81M	-132.90M	-3.09M
Operating Cash Flow	2.81M	-75.30M	-53.93M	-45.04M	15.56M
Investing Cash Flow	-12.15M	-165.60M	-175.94M	-87.86M	-17.67M
Financing Cash Flow	37.59M	29.53M	4.97M	624.95M	-507.00K

Microvast Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.56
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MVST, the sentiment is Positive. The current price of 3.56 is above the 20-day moving average (MA) of 3.44, below the 50-day MA of 3.63, and above the 200-day MA of 1.93, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 53.24 is Neutral, neither overbought nor oversold. The STOCH value of 64.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MVST.

Microvast Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$11.08B	15.70	5.19%	2.15%	3.13%	-24.94%
ENVX	58 Neutral	$2.84B	―	-85.86%	―	60.23%	51.95%
MVST	57 Neutral	$1.08B	―	-26.38%	―	21.69%	-28.26%
SLDP	57 Neutral	$713.86M	―	-20.64%	―	3.22%	-33.20%
EOSE	54 Neutral	$1.49B	―	125.43%	―	37.60%	-161.38%
AMPX	54 Neutral	$987.27M	―	-68.88%	―	209.20%	4.24%
ADSE	44 Neutral	$624.63M	―	-279.62%	―	2.45%	-69.94%

Microvast Holdings Corporate Events

Microvast Holdings Appoints New CFO Carl T. Schultz

On April 7, 2025, Fariyal Khanbabi stepped down as Chief Financial Officer of Microvast Holdings, Inc., and Carl T. ‘Pat’ Schultz was appointed as the new CFO, effective April 21, 2025. Schultz, with over 20 years of financial leadership experience, previously served as CFO for Air Liquide North America and is expected to play a crucial role in achieving Microvast’s growth and long-term financial objectives.