Microvast Holdings, Inc. (MVST)
Microvast Holdings, Inc. is a company that designs, develops, and manufactures advanced battery systems tailored for electric vehicles (EVs) and stationary energy storage. The company showcases vertical integration by also producing key battery components, including cathodes, anodes, electrolytes, and separators. Their product offerings feature a diverse selection of cell chemistries, such as lithium titanate oxide (LTO), lithium iron phosphate (LFP), and both first and second-generation nickel manganese cobalt (NMC). Microvast's battery solutions are utilized across a broad spectrum of commercial vehicle markets worldwide, encompassing buses, trains, mining trucks, marine and port equipment, automated guided vehicles (AGVs), specialty vehicles, and light, medium, and heavy-duty trucks. Established in 2006, the company's base of operations is in Stafford, Texas.
Sector: Miscellaneous Electrical Machinery, Equipment & Supplies
Industry: Electrical Equipment & Parts
Microvast Holdings, Inc.
NASDAQ:MVSTIndustrials · Electrical Equipment & Parts
+9.47%$0.6287
CLOSED · Nov 6Prev close$0.5743+9.47%Close$0.6287-0.59%AH close$0.6250
AH$0.6250-0.59%vs close
Mkt Cap$241.76M
Float209.91M
O/S384.53M
VOL4.23M sh
$ Vol$2.56M
RVOL1.34×
Inst Own20.6%
SI9.4%
EarningsNov 9 · Today
Dilution
Financials Summary
Revenue$427.52M
Net Income-$29.22M
Total Assets$1.01B
Free Cash Flow$56.07M
Debt & Equity
Debt 48%
Equity 52%
Total Debt$384.49M
Total Equity$410.51M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in MVST's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$1.01B
Liabilities$594.93M
Accounts Receivable$169.96M
Accounts Payable$47M
Inventory$89.41M
PP&E (Net)$525.39M
Goodwill$0
Intangible Assets$2.18M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $427.52M | $379.8M | $306.62M | $204.5M | $151.98M | $107.52M | $76.43M | $174.24M |
| YoY Growth | 12.6% | 23.9% | 49.9% | 34.6% | 41.3% | 40.7% | -56.1% | - |
| Cost of Revenue | $272.9M | $260.25M | $249.39M | $195.42M | $194.72M | $90.38M | $76.67M | $153.39M |
| Gross Profit | $154.62M | $119.55M | $57.23M | $9.07M | -$42.74M | $17.14M | -$231K | $20.85M |
| Gross Margin | 36.2% | 31.5% | 18.7% | 4.4% | -28.1% | 15.9% | -0.3% | 12.0% |
| Research and Development | $34.11M | $41.06M | $45M | $43.51M | $34.38M | $16.64M | $26M | $32.45M |
| Selling, General, and Administrative | $35.62M | $104.06M | $120.4M | $125.39M | $123.06M | $32.61M | $30.88M | $46.39M |
| Other | $44.39M | $90.52M | -$1.45M | $126K | -$6.13M | -$3M | -$3.24M | $0 |
| Total Operating Expenses | $114.13M | $235.64M | $163.96M | $169.02M | $151.32M | $46.25M | $53.63M | $73.14M |
| Operating Income (EBIT) | $40.49M | -$116.09M | -$106.73M | -$159.95M | -$194.06M | -$29.11M | -$53.86M | -$57.99M |
| Operating Margin | 9.5% | -30.6% | -34.8% | -78.2% | -127.7% | -27.1% | -70.5% | -33.3% |
| Interest Expense | $4.9M | $9.71M | $2.63M | $3.32M | $5.41M | $5.74M | $6.35M | $0 |
| Interest Income | $957K | $742K | $3.61M | $3.18M | $446K | $571K | $884K | $0 |
| Other Income (Expense) | -$75.03M | -$79.37M | $327K | $1.78M | -$12.42M | -$4.52M | -$5.61M | $3.72M |
| Income Before Tax (EBT) | -$34.54M | -$195.46M | -$106.4M | -$158.17M | -$206.48M | -$33.62M | -$59.47M | -$54.27M |
| Income Tax Expense | -$5.33M | $0 | $10K | $33K | $0 | $1K | $189K | $6.42M |
| Net Income | -$29.22M | -$195.46M | -$106.34M | -$158.2M | -$216.01M | -$49.55M | -$72.59M | -$100.03M |
| Net Income Margin | -6.8% | -51.5% | -34.7% | -77.4% | -142.1% | -46.1% | -95.0% | -57.4% |
| Supplementary Data | ||||||||
| EPS | -0.09 | -0.61 | -0.34 | -0.52 | -1.26 | -0.82 | 0.10 | 0.00 |
| Diluted EPS | -0.09 | -0.61 | -0.34 | -0.52 | -1.26 | -0.82 | 0.10 | 0.00 |
| Weighted Average OS | 324.69M | 318.46M | 310.91M | 303.28M | 185.90M | 99.03M | 35.05M | 35.49M |
| EBITDA | $3.49M | -$154.91M | -$80.85M | -$134.48M | -$180.36M | -$11.09M | -$37.73M | -$45.24M |
| EBITDA Margin | 0.8% | -40.8% | -26.4% | -65.8% | -118.7% | -10.3% | -49.4% | -26.0% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $104.96M | $73.01M | $82.02M | $231.42M | $480.93M | $21.5M | $27.98M | $18K |
| Short-Term Investments | $0 | $0 | $5.63M | $25.07M | $0 | $0 | $1.49M | $0 |
| Cash and Short-Term Investments | $104.96M | $73.01M | $87.65M | $256.49M | $480.93M | $21.5M | $29.47M | $18K |
| Accounts Receivable | $169.96M | $146.01M | $177.48M | $124.22M | $104.25M | $100.09M | $67.64M | $0 |
| Inventory | $89.41M | $143.33M | $155.55M | $84.25M | $53.42M | $44.97M | $59.16M | $0 |
| Other Current Assets | $84.39M | $56.47M | $950K | $70.73M | $55.18M | $19.7M | -$155.95M | $0 |
| Total Current Assets | $448.72M | $428.03M | $425.61M | $545.07M | $706.61M | $189.32M | $396K | $18K |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $525.39M | $495.82M | $640.17M | $351.51M | $253.06M | $198.02M | $191.32M | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $2.18M | $13.98M | $15.12M | $14.28M | $15.89M | $16.28M | $16.08M | $0 |
| Long-Term Investments | $2.58M | $22K | $6.17M | $465K | $0 | $0 | $280.1M | $0 |
| Deferred Tax Assets | $5.43M | $0 | -$11.98M | -$465K | $0 | $0 | -$208.97M | $0 |
| Other Long-Term Assets | $21.14M | $14.02M | $21.64M | $74.11M | $19.74M | $890K | $1.57M | $84K |
| Total Long-Term Assets | $556.73M | $523.84M | $671.13M | $439.89M | $288.69M | $215.19M | $280.1M | $84K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $1.01B | $951.87M | $1.1B | $984.96M | $995.29M | $404.51M | $280.5M | $101K |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $47M | $64.94M | $112.62M | $44.98M | $40.41M | $42.01M | $35.58M | $0 |
| Short-Term Debt | $312.3M | $122.42M | $98.77M | $85.84M | $74.25M | $77.88M | $120.89M | $75K |
| Current Income Tax Payable | $99K | $652K | $655K | $658K | $1.59M | $2.14M | $70K | $0 |
| Current Unearned Revenue | $41.47M | $43.68M | $43.09M | $54.21M | $1.53M | $2.45M | -$156.47M | $0 |
| Other Current Liabilities | $20.29M | $23.77M | $137.78M | $60.07M | $31.56M | $8.26M | $195.8M | $450 |
| Total Current Liabilities | $488.34M | $330.15M | $403.41M | $252.41M | $175.59M | $183.63M | $195.8M | $76K |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $54.92M | $188.83M | $86.92M | $72.89M | $73.15M | $73.15M | $29.26M | $0 |
| Long-Term Unearned Revenue | $6.19M | $5.61M | $3.38M | $3.07M | $2.29M | $1.22M | -$27K | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $27K | $0 |
| Other Long-Term Liabilities | $31.01M | $24.78M | $21.75M | $29.27M | $57.57M | $440.3M | $130.92M | $0 |
| Total Long-Term Liabilities | $106.59M | $233.82M | $129.13M | $119.57M | $133M | $514.67M | $160.21M | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $594.93M | $563.97M | $532.54M | $371.98M | $308.59M | $698.29M | $356.01M | $76K |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $299.51M | $0 |
| Common Stock | $34K | $33K | $32K | $31K | $30K | $6K | $6K | $720 |
| Retained Earnings | -$1.12B | -$1.09B | -$897.5M | -$791.16M | -$632.1M | -$398M | -$314.73M | -$792 |
| Comprehensive Income & Other | -$11.14M | -$32.16M | -$19.58M | -$12.05M | $12.73M | $13.39M | -$9.27M | $0 |
| Other Stockholders' Equity | $1.53B | $1.48B | $1.46B | $1.4B | $1.32B | $13.39M | $293.97M | $25K |
| Total Equity | $410.51M | $387.89M | $564.19M | $612.98M | $686.7M | -$384.6M | -$20.75M | $25K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $90.82M | $80.56M | $0 |
| Total Liabilities and Equity | $1.01B | $951.87M | $1.1B | $984.96M | $995.29M | $313.69M | $335.26M | $101K |
| Supplementary Data | ||||||||
| Total Debt | $384.49M | $328.89M | $205.18M | $175M | $147.4M | $151.03M | $150.15M | $75K |
| Net Debt | $279.52M | $255.88M | $123.17M | -$56.41M | -$333.53M | $129.53M | $150.01M | $58K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | -$29.22M | -$195.46M | -$106.41M | -$158.2M | -$206.48M | -$33.63M | -$59.66M | -$792 |
| Depreciation & Amortization | $33.13M | $30.83M | $22.93M | $20.36M | $20.71M | $16.79M | $15.39M | $12.75M |
| Deferred Income Tax | -$5.43M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $3.07M | $30.84M | $64.97M | $90.81M | $82.89M | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | -$54.6M | $15.28M | -$47.1M | -$35.74M | -$1.83M | $10.34M | $78.76M | $20.63M |
| Inventory | $27.09M | -$546K | -$74.41M | -$43.69M | -$25.89M | $13.61M | $10.45M | $7.11M |
| Accounts Payable | -$20.19M | -$44.52M | $68.58M | $7.15M | -$2.5M | $3.82M | -$12.88M | $450 |
| Other Working Capital | $18.18M | -$22.97M | -$25.56M | $41.84M | $6.26M | -$735K | -$24.61M | $2.06M |
| Total Working Capital Change | -$29.53M | -$52.76M | -$78.48M | -$30.45M | -$23.96M | $27.04M | $51.71M | $450 |
| Other Non-Cash Items | $103.88M | $189.36M | $21.69M | $23.55M | $81.8M | $5.35M | $5.93M | -$450 |
| Net Cash from Operating | $75.91M | $2.81M | -$75.3M | -$53.93M | -$45.04M | $15.56M | $13.37M | -$342 |
| Investing Activities | ||||||||
| Capital Expenditures | -$19.83M | -$27.72M | -$186.79M | -$150.88M | -$87.86M | -$18.64M | -$20.26M | -$29.81M |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | -$5.97M | -$25.07M | $0 | -$4.63M | -$20.35M | $0 |
| Sales of Investments | $0 | $5.56M | $25.5M | $0 | $0 | $5.59M | $36.63M | $0 |
| Other Investing Activities | $3.79M | $10.01M | $1.65M | $5K | $0 | $13K | $24K | $185.86M |
| Net Cash from Investing | -$16.05M | -$12.15M | -$165.6M | -$175.94M | -$87.86M | -$17.67M | -$3.95M | $156.05M |
| Financing Activities | ||||||||
| Debt Repaid | $11.74M | -$60.27M | -$33.04M | -$4.97M | -$58.86M | $507K | $19.48M | -$75K |
| Common Stock Issuance | $28.75M | $0 | $0 | $0 | $0 | $0 | $0 | $25K |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$19.7M | -$22.68M | $0 | $0 | $566.09M | $0 | -$32.7M | -$83K |
| Net Cash from Financing | -$2.68M | $37.59M | $33.04M | $4.97M | $624.95M | -$507K | -$52.18M | $18K |
| Forex Effect | $2.46M | -$6.84M | -$6.56M | -$8.59M | $2.87M | $2.04M | -$994K | -$12.62M |
| Net Change in Cash | $59.64M | $21.41M | -$214.43M | -$233.49M | $494.91M | -$588K | -$43.76M | $143.44M |
| Supplementary Data | ||||||||
| Operating Cash Flow | $75.91M | $2.81M | -$75.3M | -$53.93M | -$45.04M | $15.56M | $13.37M | -$342 |
| Capital Expenditure | -$19.83M | -$27.72M | -$186.79M | -$150.88M | -$87.86M | -$18.64M | -$20.26M | -$29.81M |
| Free Cash Flow | $56.07M | -$24.91M | -$262.09M | -$204.81M | -$132.9M | -$3.09M | -$6.89M | -$29.81M |
| Cash at Beginning | $109.6M | $88.19M | $302.62M | $536.11M | $41.2M | $41.78M | $85.54M | -$143.43M |
| Cash at End | $169.24M | $109.6M | $88.19M | $302.62M | $536.11M | $41.2M | $41.78M | $18K |