Microvast Holdings, Inc. financials
Source: EDGAR filings · Built 2026-06-02T03:37:19Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 56.07M | -24.91M | -262.09M | -204.81M | -132.90M | -3.09M |
| Working Capital | -39.62M | 97.87M | 22.20M | 292.66M | 531.01M | 5.70M |
| Net Debt | 18.58M | 56.36M | 54.11M | -168.74M | -408.89M | 51.32M |
| Gross Margin | 28.56% | 31.48% | 18.66% | 4.44% | -28.12% | 15.94% |
| Operating Margin | 1.63% | -30.57% | -34.81% | -78.22% | -127.69% | -27.07% |
| Net Margin | -6.83% | -51.46% | -34.68% | -77.36% | -135.87% | -2.25% |
| Return on Equity (ROE) | -7.12% | -50.39% | -18.85% | -25.81% | -30.07% | -48.47% |
| Return on Assets (ROA) | -2.91% | -20.53% | -9.70% | -16.06% | -20.75% | -0.60% |
| Current Ratio | 0.92× | 1.30× | 1.05× | 2.16× | 4.02× | 1.03× |
| Debt-to-Equity | 0.30× | 0.33× | 0.17× | 0.10× | 0.10× | 14.56× |
| Effective Tax Rate | 15.42% | 0.00% | -0.01% | -0.02% | 0.00% | -0.00% |
| Cash Conversion Ratio | -2.60× | -0.01× | 0.71× | 0.34× | 0.22× | -6.42× |
| Accruals Ratio | -0.10× | -0.21× | -0.03× | -0.11× | -0.16× | -0.04× |
| SBC % of Revenue | 0.72% | 8.12% | 21.19% | 44.41% | 54.54% | 0.00% |
| CapEx Coverage | 3.83× | 0.10× | -0.40× | -0.36× | -0.51× | 0.83× |
| Free Cash Flow Per Share | $0.17 | $-0.08 | $-0.84 | $-0.68 | $-0.71 | $-0.03 |
Valuation Metrics
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenues | 427.52M | 379.80M | 306.62M | 204.50M | 151.98M | 107.52M |
| Cost of Revenue | — | 260.25M | 249.39M | 195.42M | 194.72M | 90.38M |
| Gross Profit | 122.11M | 119.55M | 57.23M | 9.07M | -42.74M | 17.14M |
| Research and Development Expense | 34.11M | 41.06M | 45.00M | 43.51M | 34.38M | 16.64M |
| Operating Expenses | 118.27M | 238.30M | 165.91M | 170.69M | 157.45M | 49.25M |
| Operating Income (Loss) | 6.98M | -116.09M | -106.73M | -159.95M | -194.06M | -29.11M |
| Income Tax Expense (Benefit) | -5.33M | 0 | 10.00K | 33.00K | 0 | 1.00K |
| Net Income (Loss) Attributable to Parent | -29.22M | -195.46M | -106.34M | -158.20M | -206.48M | -2.42M |
| Earnings Per Share, Basic | $-0.09 | $-0.61 | $-0.34 | $-0.52 | $-1.26 | $-0.82 |
| Weighted Average Number of Shares Outstanding, Basic | 324.69M | 318.46M | 310.91M | 303.28M | 185.90M | 99.03M |
| Earnings Per Share, Diluted | $-0.09 | $-0.61 | $-0.34 | $-0.52 | $-1.26 | $-0.82 |
| Weighted Average Number of Shares Outstanding, Diluted | 324.69M | 318.46M | 310.91M | 303.28M | 185.90M | 99.03M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 104.96M | 73.01M | 44.54M | 231.42M | 480.93M | 21.50M |
| Assets, Current | 448.72M | 428.03M | 425.61M | 545.07M | 706.61M | 189.32M |
| Assets | 1.01B | 951.87M | 1.10B | 984.96M | 995.29M | 404.51M |
| Long-term Debt | 13.23M | 41.06M | 43.76M | 29.00M | 0 | — |
| Liabilities, Current | 488.34M | 330.15M | 403.41M | 252.41M | 175.59M | 183.63M |
| Liabilities | 594.93M | 563.97M | 532.54M | 371.98M | 308.59M | 389.16M |
| Stockholders' Equity Attributable to Parent | 410.51M | 387.89M | 564.19M | 612.98M | — | 5.00M |
| Common Stock, Shares, Outstanding | 331.79M | 323.14M | 315.01M | 307.63M | 298.84M | 99.03M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 75.91M | 2.81M | -75.30M | -53.93M | -45.04M | 15.56M |
| Payments to Acquire Property, Plant, and Equipment | 19.83M | 27.72M | 186.79M | 150.88M | 87.86M | 18.64M |
| Net Cash Provided by (Used in) Investing Activities | -16.05M | -12.15M | -165.60M | -175.94M | -87.86M | -17.67M |
| Net Cash Provided by (Used in) Financing Activities | -2.68M | 37.59M | 33.04M | 4.97M | 624.95M | -507.00K |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -25.65M | 15.78M | 40.30M | 39.12M | 4.82M | 5.75M |
| Working Capital | -18.26M | -39.62M | -84.70M | -90.07M | 108.09M | 97.87M |
| Net Debt | 29.44M | 18.58M | 45.96M | 36.56M | 54.86M | 56.36M |
| Gross Margin | 31.60% | 0.99% | 37.65% | 34.73% | 36.93% | 36.62% |
| Operating Margin | -13.09% | -42.69% | 10.54% | 17.75% | 13.10% | -1.25% |
| Net Margin | 79.54% | 17.16% | -1.21% | -116.11% | 53.04% | -72.60% |
| Return on Equity (ROE) | 10.34% | 4.03% | -0.42% | -29.78% | 13.60% | -21.22% |
| Return on Assets (ROA) | 4.88% | 1.64% | -0.15% | -10.56% | 6.29% | -8.65% |
| Current Ratio | 0.96× | 0.92× | 0.84× | 0.83× | 1.32× | 1.30× |
| Debt-to-Equity | 0.33× | 0.30× | 0.38× | 0.38× | 0.32× | 0.33× |
| Effective Tax Rate | — | -61.28% | -98.53% | -0.21% | 0.00% | 0.00% |
| Cash Conversion Ratio | -0.47× | 0.99× | -39.95× | -0.42× | 0.12× | -0.07× |
| Accruals Ratio | 0.07× | 0.00× | -0.06× | -0.15× | 0.06× | -0.09× |
| SBC % of Revenue | 1.66% | 0.82% | 1.85% | 1.70% | 0.60% | 0.49% |
| CapEx Coverage | -7.98× | 25.54× | 3.10× | 8.51× | 3.06× | 17.19× |
| Free Cash Flow Per Share | $-0.07 | $0.05 | $0.12 | $0.12 | $0.01 | $0.02 |
Valuation Metrics
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | — | — | 123.29M | 91.34M | 116.49M | — |
| Revenues | 60.61M | 96.40M | 123.29M | 91.34M | 116.49M | 113.39M |
| Cost of Revenue | 41.46M | — | 76.88M | 59.62M | 73.47M | 71.87M |
| Gross Profit | 19.16M | 959.00K | 46.41M | 31.72M | 43.02M | 41.52M |
| Research and Development Expense | 8.81M | 10.38M | 7.76M | 7.72M | 8.25M | 8.77M |
| Operating Expenses | 27.09M | 42.80M | 33.46M | 16.50M | 29.17M | 43.24M |
| Operating Income (Loss) | -7.93M | -41.16M | 12.99M | 16.21M | 15.27M | -1.42M |
| Income Tax Expense (Benefit) | — | -6.28M | 739.00K | 220.00K | 0 | 0 |
| Net Income (Loss) Attributable to Parent | — | 16.54M | -1.49M | -106.06M | 61.79M | -82.32M |
| Earnings Per Share, Basic | $0.15 | $0.05 | $0.00 | $-0.33 | $0.19 | $-0.25 |
| Weighted Average Number of Shares Outstanding, Basic | 332.36M | 324.69M | 323.76M | 323.64M | 323.43M | 318.46M |
| Earnings Per Share, Diluted | $-0.04 | $0.05 | $0.00 | $-0.33 | $0.05 | $-0.25 |
| Weighted Average Number of Shares Outstanding, Diluted | 385.27M | 324.69M | 323.76M | 323.64M | 374.43M | 318.46M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 126.13M | 104.96M | 90.75M | 99.72M | 90.90M | 73.01M |
| Assets, Current | 425.82M | 448.72M | 445.26M | 434.59M | 447.99M | 428.03M |
| Assets | 987.50M | 1.01B | 1.01B | 1.00B | 982.93M | 951.87M |
| Long-term Debt | — | 13.23M | 34.40M | 34.18M | 41.30M | 41.06M |
| Liabilities, Current | 444.09M | 488.34M | 529.96M | 524.66M | 339.91M | 330.15M |
| Liabilities | 521.39M | 594.93M | 655.50M | 648.56M | 528.70M | 563.97M |
| Stockholders' Equity Attributable to Parent | 466.11M | 410.51M | 358.11M | 356.13M | 454.24M | 387.89M |
| Common Stock, Shares, Outstanding | 333.16M | 331.79M | 323.77M | 323.67M | 323.53M | 323.14M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -22.80M | 16.42M | 59.49M | 44.32M | 7.17M | 6.10M |
| Payments to Acquire Property, Plant, and Equipment | 2.85M | 643.00K | 19.19M | 5.21M | 2.35M | 355.00K |
| Net Cash Provided by (Used in) Investing Activities | -2.80M | -590.00K | -15.46M | -5.08M | -2.33M | -180.00K |
| Net Cash Provided by (Used in) Financing Activities | 29.32M | 6.86M | -9.54M | -6.80M | 9.46M | -9.05M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (MVST CIK 0001760689),
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For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.