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Stocks · Technology · Miscellaneous Electrical Machinery, Equipment & Supplies

Microvast Holdings, Inc.

MVST Clue Score64
United States Fiscal year ends December CIK 0001760689
$0.58 -0.91% Close, 9 Oct 2026
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Price $0.58 −92.32% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 27 Mar 2019. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue76.4Operating income−53.9Net income3.4EPS, diluted−0.07Fiscal year 2020Revenue107.5 +40.7%Operating income−29.1Net income−2.4 −171.4%EPS, diluted−0.82Fiscal year 2021Revenue152.0 +41.3%Operating income−194.1Net income−206.5EPS, diluted−1.26Fiscal year 2022Revenue204.5 +34.6%Operating income−159.9Net income−158.2EPS, diluted−0.52Fiscal year 2023Revenue306.6 +49.9%Operating income−106.7Net income−106.3EPS, diluted−0.34Fiscal year 2024Revenue379.8 +23.9%Operating income−116.1Net income−195.5EPS, diluted−0.61Fiscal year 2025Revenue427.5 +12.6%Operating income7.0Net income−29.2EPS, diluted−0.09
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 76.4 107.5 152.0 204.5 306.6 379.8 427.5
Growth +40.7% +41.3% +34.6% +49.9% +23.9% +12.6%
Operating income −53.9 −29.1 −194.1 −159.9 −106.7 −116.1 7.0
Net income 3.4 −2.4 −206.5 −158.2 −106.3 −195.5 −29.2
Growth −171.4%
EPS, diluted −0.07 −0.82 −1.26 −0.52 −0.34 −0.61 −0.09

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2019Gross margin−0.3%Operating margin−70.5%Net margin4.4%Free cash flow margin−9.0%Fiscal year 2020Gross margin15.9%Operating margin−27.1%Net margin−2.3%Free cash flow margin−2.9%Fiscal year 2021Gross margin−28.1%Operating margin−127.7%Net margin−135.9%Free cash flow margin−87.4%Fiscal year 2022Gross margin4.4%Operating margin−78.2%Net margin−77.4%Free cash flow margin−100.2%Fiscal year 2023Gross margin18.7%Operating margin−34.8%Net margin−34.7%Free cash flow margin−85.5%Fiscal year 2024Gross margin31.5%Operating margin−30.6%Net margin−51.5%Free cash flow margin−6.6%Fiscal year 2025Gross margin28.6%Operating margin1.6%Net margin−6.8%Free cash flow margin13.1%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin −0.3% 15.9% −28.1% 4.4% 18.7% 31.5% 28.6%
Operating margin −70.5% −27.1% −127.7% −78.2% −34.8% −30.6% 1.6%
Net margin 4.4% −2.3% −135.9% −77.4% −34.7% −51.5% −6.8%
Free cash flow margin −9.0% −2.9% −87.4% −100.2% −85.5% −6.6% 13.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow13.4Capital expenditure−20.3Free cash flow−6.9Fiscal year 2020Operating cash flow15.6Capital expenditure−18.6Free cash flow−3.1Fiscal year 2021Operating cash flow−45.0Capital expenditure−87.9Free cash flow−132.9Fiscal year 2022Operating cash flow−53.9Capital expenditure−150.9Free cash flow−204.8Fiscal year 2023Operating cash flow−75.3Capital expenditure−186.8Free cash flow−262.1Fiscal year 2024Operating cash flow2.8Capital expenditure−27.7Free cash flow−24.9Fiscal year 2025Operating cash flow75.9Capital expenditure−19.8Free cash flow56.1
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 13.4 15.6 −45.0 −53.9 −75.3 2.8 75.9
Capital expenditure −20.3 −18.6 −87.9 −150.9 −186.8 −27.7 −19.8
Free cash flow −6.9 −3.1 −132.9 −204.8 −262.1 −24.9 56.1
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash0.1Shareholders’ equity−320.3Fiscal year 2020Cash21.5Shareholders’ equity5.0Fiscal year 2021Cash480.9Total debt0.0Net cash (debt)480.9Shareholders’ equity686.7Debt to equity0.00Fiscal year 2022Cash231.4Total debt29.0Net cash (debt)202.4Shareholders’ equity613.0Debt to equity0.05Fiscal year 2023Cash44.5Total debt43.8Net cash (debt)0.8Shareholders’ equity564.2Debt to equity0.08Fiscal year 2024Cash73.0Total debt41.1Net cash (debt)31.9Shareholders’ equity387.9Debt to equity0.11Fiscal year 2025Cash105.0Total debt13.2Net cash (debt)91.7Shareholders’ equity410.5Debt to equity0.03
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.1 21.5 480.9 231.4 44.5 73.0 105.0
Total debt n/a n/a 0.0 29.0 43.8 41.1 13.2
Net cash (debt) n/a n/a 480.9 202.4 0.8 31.9 91.7
Shareholders’ equity −320.3 5.0 686.7 613.0 564.2 387.9 410.5
Debt to equity n/a n/a 0.00 0.05 0.08 0.11 0.03

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
−0.3% 15.9% −28.1% 4.4% 18.7% 31.5% 28.6%
−70.5% −27.1% −127.7% −78.2% −34.8% −30.6% 1.6%
−77.8% −31.3% −135.9% −77.3% −34.7% −51.5% −8.1%
4.4% −2.3% −135.9% −77.4% −34.7% −51.5% −6.8%
−9.0% −2.9% −87.4% −100.2% −85.5% −6.6% 13.1%
Spending
34.0% 15.5% 22.6% 21.3% 14.7% 10.8% 8.0%
19.8% 17.5% 66.9% 50.3% 31.6% 21.5% 13.5%
26.5% 17.3% 57.8% 73.8% 60.9% 7.3% 4.6%
Returns
n/a −48.5% −30.1% −25.8% −18.8% −50.4% −7.1%
1.2% −0.6% −20.7% −16.1% −9.7% −20.5% −2.9%
Balance and payout
n/a n/a 0.00 0.05 0.08 0.11 0.03
0.3% 96.2% 31.0% 37.8% 48.6% 59.2% 59.2%