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Friday 6 November 2026
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Microvast Holdings, Inc.
MVST Consumer Cyclical Auto Parts
Microvast Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $427.5 million, up 12.6% from fiscal 2024.
- Revenue
- −4.46%
- EPS
- +90.9%
- Free cash flow
- −132.0%
- Total debt
- −65.2%
Quarter to June 2026, against a year earlier
0.57
0.09
−13.64%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | 76 | 108 | 152 | 204 | 307 | 380 | 428 | 368 | +33.2% | 362 | 470 | 563 | +9.6% | |
| Gross margin, % | — | — | — | (0.30) | 15.94 | (28.12) | 4.44 | 18.66 | 31.48 | 28.56 | 25.11 | +28.9 pt | ||||||
| EBT | — | — | 0 | (59) | (34) | (206) | (158) | (106) | (195) | (35) | 46 | n/m | ||||||
| EBT margin, % | — | — | 0.00 | (77.81) | (31.27) | (135.87) | (77.35) | (34.70) | (51.46) | (8.08) | 12.44 | (8.1) pt | ||||||
| Net income | — | 0 | 0 | (60) | (34) | (206) | (158) | (106) | (195) | (29) | 51 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | 0.00 | 0.77 | 1.09 | 0.82 | 0.67 | 0.99 | 1.19 | 1.32 | 1.05 | n/m | |||||
| Earnings | — | — | 0.00 | (1.17) | (0.82) | (1.26) | (0.52) | (0.34) | (0.61) | (0.09) | 0.17 | n/m | ||||||
| Cash flow | — | — | 0.00 | 0.14 | 0.16 | (0.24) | (0.18) | (0.24) | 0.01 | 0.23 | 0.00 | n/m | ||||||
| Capex | — | — | 0.00 | (0.20) | (0.19) | (0.47) | (0.50) | (0.60) | (0.06) | (0.05) | (0.04) | n/m | ||||||
| Free cash flow | — | — | 0.00 | (0.07) | (0.03) | (0.71) | (0.68) | (0.84) | (0.05) | 0.18 | (0.05) | n/m | ||||||
| Book value | — | — | 0.00 | 0.05 | (3.88) | 3.69 | 2.02 | 1.81 | 1.22 | 1.26 | 1.56 | +191.9% | ||||||
| Shares, m | — | — | 35 | 99 | 99 | 186 | 303 | 311 | 318 | 325 | 332 | +37.2% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.45 | 0.0 | |||||
| P/S | — | — | — | 0.00 | 0.00 | 6.92 | 2.24 | 1.43 | 1.74 | 2.13 | 0.54 | 2.1 | ||||||
| P/B | — | — | — | 197.26 | 0.00 | 1.53 | 0.75 | 0.78 | 1.70 | 2.21 | 0.37 | 29.2 | ||||||
| EV/Sales | — | — | — | 0.00 | 0.00 | 3.96 | 1.08 | 1.54 | 2.13 | 2.41 | 0.47 | 1.6 | ||||||
| EV/FCF | — | — | — | 73.76 | (74.53) | (4.53) | (1.08) | (1.82) | (54.30) | 17.19 | (10.90) | (6.5) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | 0 | 13 | 16 | (45) | (54) | (75) | 3 | 76 | (2) | n/m | |||||
| Capex | — | — | 0 | (20) | (19) | (88) | (151) | (185) | (18) | (16) | (14) | n/m | ||||||
| Free cash flow | — | — | 0 | (7) | (3) | (133) | (205) | (260) | (15) | 60 | (16) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | 0 | 0 | 6 | 531 | 293 | 22 | 98 | (40) | 31 | +153.9% | |||||
| Net debt | — | — | 0 | 0 | 44 | (450) | (237) | 35 | 150 | 120 | (24) | +197.7% | ||||||
| Shareholders’ equity | — | — | 0 | 5 | (385) | 687 | 613 | 564 | 388 | 411 | 543 | +299.2% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | (1.58) | (82.31) | (23.64) | (33.45) | (15.98) | (10.22) | (19.08) | (2.99) | 5.24 | (1.4) pt | |||||
| ROIC | — | — | 0.00 | (692.70) | 0.00 | (51.17) | (26.58) | (11.14) | (13.49) | 0.82 | (3.25) | +0.8 pt | ||||||
| ROE | — | — | (0.03) | (4,595.81) | 42.66 | (154.99) | (24.34) | (18.07) | (41.06) | (7.32) | 11.40 | (7.3) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | 2 | 2 | 1,359 | 1,535 | 2,006 | 1,921 | 1,908 | — | +213.8% | |||||
| Revenue/emp, $m | — | — | — | 38.22 | 53.76 | 0.11 | 0.13 | 0.15 | 0.20 | 0.22 | — | (57.5%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Microvast Holdings, Inc. vs peers in Auto Parts (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| MNRO Monro Muffler Brake, Inc. | $354.3M | — (loss-making) | 79.7× | −1.83% (below 0%: shrinking) | n/m | −1.25% (below 0%: shrinking) | 35.24% | 0.91% | Compare |
| CPS Cooper-Standard Holdings Inc. | $317.2M | — (loss-making) | 13.9× | +1.88% (above 0%: growing) | n/m | −139.18% (below 0%: shrinking) | 10.98% | 1.47% | Compare |
| ECX ECARX Holdings, Inc. | $285.3M | — (loss-making) | — (loss-making) | +44.73% (above 0%: growing) | n/m | +46.10% (above 0%: growing) | 19.76% | (2.75%) | Compare |
| HLLY Holley Inc. | $257.1M | 13.3× | 11.8× | +2.30% (above 0%: growing) | n/m | +633.75% (above 0%: growing) | 43.97% | 13.82% | Compare |
| STRT Strattec Security Corporation | $243.5M | 14.4× | 14.7× | −3.41% (below 0%: shrinking) | −41.90% (below 0%: shrinking) | −2.22% (below 0%: shrinking) | 16.52% | 4.36% | Compare |
| SES SES AI Corporation | $241.3M | — (loss-making) | — (loss-making) | +43.80% (above 0%: growing) | n/m | −24.58% (below 0%: shrinking) | 22.61% | (378.47%) | Compare |
| MVST Microvast Holdings, Inc. | $221.6M | 3.4× | — (loss-making) | −4.46% (below 0%: shrinking) | n/m | −132.01% (below 0%: shrinking) | 29.54% | (1.97%) | |
| MPAA Motorcar Parts of America, Inc. | $192.3M | — (loss-making) | 13.7× | −10.80% (below 0%: shrinking) | n/m | −277.97% (below 0%: shrinking) | 16.17% | 2.10% | Compare |
| SRI Stoneridge, Inc. | $136.3M | — (loss-making) | — (loss-making) | −20.43% (below 0%: shrinking) | n/m | +3.35% (above 0%: growing) | 20.31% | (0.65%) | Compare |
| Median of peers | $250.3M | — | 13.9× | +0.03% | — | −1.73% | 20.04% | 1.19% |
Pay and ownership Proxy statement filed 9 October 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 3.78m | 2.20m | 183.00 |
| 2024 | 1.14m | 1.35m | 135.00 |
| 2023 | 649.01k | 554.35k | 92.00 |
Ownership
Directors and executive officers, together
37.00%
Yang Wu
35.80%
CDH Griffin Holdings Company Limited
9.60%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement