Microvast Holdings (MVST) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Microvast Holdings

NasdaqCM•Consumer Cyclical•Auto Parts

$0.69-0.01(-0.01%)Market closed

Market Cap

$237.98M

P/E

4.6x

P/S

0.6x

P/B

0.4x

Microvast Holdings, Inc. engages in the design, development, and manufacturing of battery components and systems primarily for electric commercial vehicles and energy storage systems. The company offers a range of cell chemistries, such as lithium titanate oxide, lithium iron phosphate, electrolyte formulation, full concentration gradient cathode, polyaramid separator, and nickel manganese cobalt. It also designs, develops, and manufactures components of lithium-ion batteries, such as cathode, anode, electrolytes, and separator. The company's commercial vehicle markets cover buses, trains, mining trucks, marine and port vehicles, and automated guided and specialty vehicles, as well as light, medium, and heavy-duty trucks. It operates in China, India, rest of the Asia Pacific, Italy, France, rest of Europe, and the United States. Microvast Holdings, Inc. was founded in 2006 and is headquartered in Stafford, Texas.

How this company scores

WeakMetricSide Score: 43/100

Grade capped at D — Interest coverage below 1× (-7.1x) — earnings cannot cover interest. Strongest: Balance Sheet & Red Flags (17/25); weakest: Cash & Earnings Quality (5/25).

Profitability13/25

Growth8/25

Balance Sheet & Red Flags17/25

Cash & Earnings Quality5/25

Strengths

Low leverageProfit converts from growthImproving leverageNet cash position

Grade capped at D

Interest coverage below 1× (-7.1x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 4.6x5y range 4.6x – 4.6x

P/S · 0.6x5y range 0.2x – 56.8x

Currently below its 20-quarter median.

P/B · 0.4x5y range 0.2x – 3.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 342.7% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -0.0x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $237.98M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $367.56M
Q. Revenue: $87.26M
TTM EBITDA: $-5.39M
TTM Op. Income: $-37.82M
Q. Op. Income: $-1.72M
TTM Net Income: $51.27M
Q. Net Income: $-11.99M
EPS: $-0.03
Shares Out.: $348.95M

$367.56M in TTM revenue declined 13.0% YoY, reaching $87.26M last quarter. TTM EBITDA of $-5.39M and TTM operating income of $-37.82M show growth is flowing through to the bottom line. TTM net income of $51.27M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has fallen for 3 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 29.5%
EBITDA Margin: 7.3%
Op. Margin: -2.0%
Net Margin: -13.7%

Op. margin of -2.0% is down 19.7% YoY — costs are rising relative to revenue. Net margin at -13.7% and gross margin of 29.5% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 4.6x
P/S Ratio: 0.6x
P/B Ratio: 0.4x

At 4.6x P/E, the stock trades below typical market levels. P/S of 0.6x and P/B of 0.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $952.19M
Cash: $127.83M
Long-Term Debt: $14.42M
Book Value: $543.09M
D/E Ratio: 0.0
Debt/EBITDA: 2.3

With $952.19M in assets and $14.42M in long-term debt, D/E is 0.0and book value is $543.09M — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 72% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-10.51M
TTM Free Cash Flow: $-30.52M
FCF Margin: -8.3%
FCF / Net Income: -0.6

TTM FCF of $-30.52M on $-10.51M in operating cash flow. The FCF / Net Income ratio of -0.6x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.