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Microvast Holdings, Inc. (MVST)
:MVST
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Microvast Holdings
(NASDAQ:MVST)
Select Model
Select Model
Rating:50Neutral
Price Target:
$3.50
▲(1.16% Upside)
Microvast Holdings' overall stock score reflects a balance of positive earnings call developments and ongoing financial challenges. While there is growth in revenue and strategic partnerships, the company faces profitability and leverage issues. Technical analysis indicates bearish momentum, and valuation metrics suggest potential overvaluation.
Positive Factors
Revenue Growth
The significant year-over-year revenue growth indicates strong demand for Microvast's battery systems, supporting its market position in the EV sector.
Strategic Partnerships
The partnership with Skoda Group expands Microvast's reach into high-safety applications, enhancing its competitive advantage and market diversification.
Capacity Expansion
The expansion increases production capacity, enabling Microvast to meet growing demand and support long-term revenue growth.
Negative Factors
High Leverage
High leverage can constrain financial flexibility and increase risk, potentially impacting Microvast's ability to invest in growth opportunities.
Profitability Challenges
Ongoing profitability issues could hinder Microvast's ability to sustain operations and invest in future growth, affecting long-term viability.
Increased Operating Expenses
Rising operating expenses can pressure margins and reduce profitability, challenging Microvast's efforts to improve financial performance.
Microvast Holdings (MVST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$922.19M
Dividend YieldN/A
Average Volume (3M)5.28M
Price to Earnings (P/E)―
Beta (1Y)-1.10
Revenue Growth19.82%
EPS Growth-7.14%
CountryUS
Employees1,921
SectorConsumer Cyclical
Sector Strength84
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.04
Shares Outstanding328,182,830
10 Day Avg. Volume5,356,668
30 Day Avg. Volume5,279,997
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)1.70
Price to Sales (P/S)1.74
P/FCF Ratio-26.47
Enterprise Value/Market Cap1.66
Enterprise Value/Revenue3.45
Enterprise Value/Gross Profit9.42
Enterprise Value/Ebitda-13.64
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Microvast Holdings Business Overview & Revenue Model
Company DescriptionMicrovast Holdings, Inc. is a technology company that specializes in the development and manufacturing of high-performance battery systems for electric vehicles (EVs) and energy storage applications. The company operates primarily in the electric mobility sector, providing solutions that enhance the efficiency and longevity of battery systems. Microvast's core products include advanced lithium-ion battery cells, modules, and packs designed for a variety of applications, including commercial buses, trucks, and stationary energy storage systems.
How the Company Makes MoneyMicrovast generates revenue primarily through the sale of its battery systems and related components to original equipment manufacturers (OEMs) in the electric vehicle market. The company has established key partnerships with various vehicle manufacturers, which enable it to provide tailored battery solutions that meet specific performance and safety standards. Additionally, Microvast earns income from long-term contracts that ensure ongoing supply for large-scale projects. The company may also benefit from government incentives and funding for clean energy initiatives, further bolstering its revenue streams.
Microvast Holdings Earnings Call Summary
Earnings Call Date:Nov 10, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Apr 06, 2026
Earnings Call Sentiment Positive
The earnings call presented several positive developments, including record revenue growth, improved profit margins, and strategic partnerships. Although there were some challenges, such as increased operating expenses and a reported GAAP net loss, these were offset by strong operational results and significant strategic progress.Q3-2025 Updates
Positive Updates
Record Third Quarter Revenue
Microvast Holdings, Inc. reported a record third quarter revenue of $123.3 million, marking a 21.6% year-over-year increase.
Improved Gross Profit Margin
Gross profit margin improved to 37.6%, a 4.4 percentage point increase from the same period last year.
Operational Profit Achieved
Operating profit for the third quarter was $13 million, with an adjusted net profit of $11.9 million and adjusted EBITDA of $21.9 million.
Phase 3.2 Expansion Near Completion
The Huzhou phase 3.2 expansion is in the final stages, expected to add up to two gigawatt-hours of annual production capacity by Q1 2026.
Partnership with Skoda Group
Microvast Holdings, Inc. established a partnership with Skoda Group for rail and public transport applications, validating its technology in high-safety use cases.
Positive Cash Flow
Generated a positive operating cash flow of $59.5 million for the nine-month period.
Increased Revenue in EMEA
Revenue from the EMEA region accounted for 64% of quarterly revenue, up from 59% year-over-year.
Negative Updates
Increased Operating Expenses
Operating expenses increased to $33.5 million for the quarter, a 22% increase year-over-year, primarily due to exchange loss and litigation expenses.
GAAP Net Loss
Reported a GAAP net loss of $1.5 million for the quarter, although adjusted net profit was positive.
Company Guidance
During the third quarter 2025 earnings call, Microvast Holdings, Inc. provided robust guidance for the remainder of the fiscal year, reaffirming its annual revenue target of $450 to $475 million. The company also raised its full-year gross margin projection to a range of 32% to 35%, reflecting successful margin expansion efforts. The phase 3.2 expansion at the Huzhou facility is on track for completion by year-end, with initial production expected in Q1 2026, adding up to two gigawatt-hours annually to meet strong market demand. Microvast anticipates continued sales growth and strategic partnerships, particularly in the EMEA region, and further revenue growth in The Americas as it pursues customer acquisitions. The company aims to secure sustained positive cash flow, maintain gross margins, and expand market reach through its R&D innovation engine, leveraging global electrification trends to deliver long-term shareholder value.Microvast Holdings Financial Statement Overview
Summary
Microvast Holdings shows growth in revenue and cash flow, but struggles with profitability and high leverage. The company needs to improve margins and reduce debt to enhance financial stability.Income Statement
Microvast Holdings shows a mixed performance in its income statement. The company has achieved a positive revenue growth rate of 5.18% TTM, indicating some growth momentum. However, profitability remains a concern with negative net profit and EBIT margins, reflecting ongoing operational challenges. The gross profit margin has improved to 35.46% TTM, which is a positive sign, but the net profit margin is still negative at -32.29%, highlighting significant profitability issues.45
Neutral
Balance Sheet
The balance sheet of Microvast Holdings reveals a high debt-to-equity ratio of 1.13 TTM, indicating a leveraged position which could pose financial risks. The return on equity is negative at -31.97%, reflecting poor profitability relative to shareholder equity. The equity ratio stands at 35.32%, suggesting a moderate level of equity financing, but the high leverage remains a concern.40
Negative
Cash Flow
Cash flow analysis shows some positive trends with a significant free cash flow growth rate of 140.11% TTM, indicating improved cash generation. The operating cash flow to net income ratio is low at 0.07, suggesting limited cash flow relative to net income. However, the free cash flow to net income ratio of 0.49 indicates better cash flow management compared to previous periods.50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 444.50M | 379.80M | 306.62M | 204.50M | 151.98M | 107.52M |
| Gross Profit | 162.67M | 119.55M | 57.23M | 9.07M | -42.74M | 17.14M |
| EBITDA | -112.39M | -154.91M | -80.85M | -134.48M | -180.36M | -11.09M |
| Net Income | -151.19M | -195.46M | -106.34M | -158.20M | -216.01M | -49.55M |
Balance Sheet | ||||||
| Total Assets | 1.01B | 951.87M | 1.10B | 984.96M | 995.29M | 404.51M |
| Cash, Cash Equivalents and Short-Term Investments | 90.75M | 73.01M | 87.65M | 256.49M | 480.93M | 41.20M |
| Total Debt | 156.66M | 328.89M | 205.18M | 175.00M | 147.40M | 151.03M |
| Total Liabilities | 655.50M | 563.97M | 532.54M | 371.98M | 308.59M | 698.29M |
| Stockholders Equity | 358.11M | 387.89M | 564.19M | 612.98M | 686.70M | -75.47M |
Cash Flow | ||||||
| Free Cash Flow | 46.04M | -24.91M | -262.09M | -204.81M | -132.90M | -3.09M |
| Operating Cash Flow | 65.59M | 2.81M | -75.30M | -53.93M | -45.04M | 15.56M |
| Investing Cash Flow | -15.63M | -12.15M | -165.60M | -175.94M | -87.86M | -17.67M |
| Financing Cash Flow | -18.59M | 37.59M | 33.04M | 4.97M | 624.95M | -507.00K |
Microvast Holdings Technical Analysis
Negative
3.46
Price Trends
4.34
Negative
3.77
Negative
3.25
Negative
Market Momentum
-0.35
Positive
32.16
Neutral
7.72
Positive
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 3.46 is above the 20-day moving average (MA) of 3.33, below the 50-day MA of 4.34, and above the 200-day MA of 3.25, indicating a bearish trend. The MACD of -0.35 indicates Positive momentum. The RSI at 32.16 is Neutral, neither overbought nor oversold. The STOCH value of 7.72 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MVST.
Microvast Holdings Risk Analysis
Microvast Holdings disclosed 81 risk factors in its most recent earnings report. Microvast Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Microvast Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $3.98B | -1.47 | ― | ― | 324.10% | -214.91% | |
55 Neutral | $1.55B | -9.21 | -68.95% | ― | 45.98% | 44.14% | |
51 Neutral | $825.22M | -8.41 | -23.63% | ― | 25.24% | -12.96% | |
51 Neutral | $1.15B | -35.18 | -39.01% | ― | 234.14% | 42.67% | |
50 Neutral | $922.19M | -5.87 | -35.82% | ― | 19.82% | -7.14% | |
40 Underperform | $1.33B | -1.59 | -55.98% | ― | ― | -394.37% |
* Consumer Cyclical Sector Average
MVST
Microvast Holdings
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89.54%
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Microvast Holdings Corporate Events
Executive/Board ChangesShareholder Meetings
Microvast Holdings Elects New Director at Annual Meeting
Neutral
Oct 28, 2025
At its annual meeting on October 23, 2025, Microvast Holdings, Inc. elected Wei Ying as a Class I director for a three-year term and ratified Deloitte Touche Tohmatsu as its independent auditor for 2025. These decisions reflect the company’s ongoing governance and financial oversight strategies, potentially impacting its operational stability and investor confidence.
Private Placements and Financing
Microvast Holdings Announces $125M Equity Offering Agreement
Neutral
Oct 3, 2025
On October 3, 2025, Microvast Holdings, Inc. announced a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. and Needham & Company, LLC, allowing the company to sell up to $125 million of its common stock. The proceeds from this offering are intended for general corporate purposes, including debt refinancing, acquisitions, capital expenditures, and working capital, potentially impacting the company’s financial flexibility and market positioning.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.