Microvast Holdings (MVST) AI Stock Analysis

• Market Cap: $858.93M
• Dividend Yield: N/A
• Average Volume (3M): 7.13M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.90
• Revenue Growth: 20.84%
• EPS Growth: 24.84%
• Country: US
• Employees: 1,921
• Sector: Consumer Cyclical
• Sector Strength: 80
• Industry: Electrical Equipment & Parts
• EPS (TTM): 0.05
• Shares Outstanding: 325,354,130
• 10 Day Avg. Volume: 4,420,150
• 30 Day Avg. Volume: 7,130,328
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.68
• Enterprise Value/Revenue: 3.41
• Enterprise Value/Gross Profit: 9.60
• Enterprise Value/Ebitda: -15.01
• 1Y Price Target: $4.25
• Price Target Upside: 67.98% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 51 Neutral
• Price Target: $2.50 ▼(-1.19% Downside)

Microvast Holdings' overall stock score reflects a combination of strong revenue growth and strategic advancements in technology, offset by ongoing profitability challenges and bearish technical indicators. The positive sentiment from the earnings call and recent corporate appointment contribute to a cautiously optimistic outlook.

Positive Factors

Production Capacity Expansion

Higher confidence on the timely completion of Huzhou 3.2 expansion by 4Q25, adding 2 gigawatt-hour (GWh) of annual production capacity, to support growth expectations in 2026 and beyond.

Revenue Growth

Microvast reported its 1Q25 results with revenues of $116.5M, up 43.2% YoY, significantly beating expectations.

Technology Advancements

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

Market Opportunities

Microvast has not been able to effectively capture the U.S. opportunity due to significant policy uncertainties.

Revenue Performance

The company reported a mixed quarter where revenues came in lower than expectations.

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. is a technology-driven company specializing in the design, development, and manufacture of advanced battery solutions for electric vehicles and energy storage systems. Operating within the renewable energy and automotive sectors, Microvast focuses on delivering high-performance, rapid-charging, and long-life battery products that cater to a broad range of industries, including commercial vehicles, passenger vehicles, and industrial applications.

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 strong revenue growth and improving cash flow metrics, but profitability remains a significant challenge. The company's moderate leverage and improving cash flow position are positive signs, yet the negative return on equity and net profit margin indicate areas that require strategic focus.

Income Statement

Microvast Holdings shows a mixed performance in its income statement. The company has achieved a significant revenue growth rate of 184.7% TTM, indicating strong top-line expansion. However, profitability remains a concern with a negative net profit margin of -32.29% and an EBIT margin of -5.52% TTM, reflecting ongoing operational challenges. The gross profit margin of 35.46% TTM is a positive indicator of cost management, but the overall profitability needs improvement.

Balance Sheet

The balance sheet of Microvast Holdings presents a stable financial structure with a debt-to-equity ratio of 0.40 TTM, indicating moderate leverage. However, the return on equity is negative at -31.97% TTM, highlighting inefficiencies in generating returns for shareholders. The equity ratio stands at 35.45% TTM, suggesting a reasonable level of equity financing relative to total assets.

Cash Flow

Microvast Holdings demonstrates a strong improvement in cash flow metrics, with a remarkable free cash flow growth rate of 822.99% TTM. The operating cash flow to net income ratio of 0.09 TTM and free cash flow to net income ratio of 0.51 TTM indicate a positive trend towards better cash flow management. However, the company needs to sustain this momentum to ensure long-term financial stability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	422.61M	379.80M	306.62M	204.50M	151.98M	107.52M
Gross Profit	149.87M	119.55M	57.23M	9.07M	-42.74M	17.14M
EBITDA	-95.91M	-154.91M	-80.85M	-132.26M	-180.36M	-11.09M
Net Income	-136.46M	-195.46M	-106.34M	-158.20M	-216.01M	-49.55M
Balance Sheet
Total Assets	1.00B	951.87M	1.10B	984.96M	995.29M	404.51M
Cash, Cash Equivalents and Short-Term Investments	138.82M	73.01M	87.65M	256.49M	480.93M	41.20M
Total Debt	403.28M	328.89M	205.18M	175.00M	147.40M	151.03M
Total Liabilities	643.19M	563.97M	532.54M	371.98M	308.59M	698.29M
Stockholders Equity	356.13M	387.89M	564.19M	612.98M	686.70M	-75.47M
Cash Flow
Free Cash Flow	25.25M	-24.91M	-262.09M	-204.81M	-132.90M	-3.09M
Operating Cash Flow	49.13M	2.81M	-75.30M	-53.93M	-45.04M	15.56M
Investing Cash Flow	-9.79M	-12.15M	-165.60M	-175.94M	-87.86M	-17.67M
Financing Cash Flow	8.38M	37.59M	33.04M	4.97M	624.95M	-507.00K

Microvast Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.53
• 50DMA: Negative
• 100DMA: Negative
• 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 Negative. The current price of 2.53 is below the 20-day moving average (MA) of 2.71, below the 50-day MA of 3.07, and above the 200-day MA of 2.32, indicating a neutral trend. The MACD of -0.13 indicates Negative momentum. The RSI at 39.10 is Neutral, neither overbought nor oversold. The STOCH value of 24.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MVST.

Microvast Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AMPX	64 Neutral	$915.56M	―	-68.88%	―	209.20%	4.24%
Sector *	61 Neutral	$17.96B	13.14	-5.29%	3.00%	1.25%	-13.95%
SLDP	58 Neutral	$737.83M	―	-22.60%	―	14.82%	-19.27%
EOSE	56 Neutral	$1.95B	―	125.43%	―	128.49%	-697.81%
ENVX	54 Neutral	$1.89B	―	-68.46%	―	60.04%	52.49%
MVST	51 Neutral	$858.93M	―	-33.65%	―	20.84%	24.84%
ADSE	45 Neutral	$621.89M	―	-279.62%	―	2.45%	-69.94%

Microvast Holdings Corporate Events

Microvast Holdings Appoints Rodney Worthen as Interim CFO

Microvast Holdings, Inc. appointed Rodney Worthen as Interim Chief Financial Officer on August 7, 2025. Worthen, who will continue as Vice President of Corporate Strategy, has been with the company since June 2023 and has extensive experience in finance and strategic leadership. This appointment is expected to strengthen the company’s financial strategy and operations.

Microvast Holdings CFO Carl Schultz Steps Down

On July 29, 2025, Carl T. (Pat) Schultz ceased his role as Chief Financial Officer of Microvast Holdings, Inc., indicating a significant change in the company’s executive leadership.