ECARX Holdings, Inc. (ECX) vs Microvast Holdings, Inc. (MVST)

ECARX Holdings, Inc. and Microvast Holdings, Inc. are both Auto Parts companies. ECARX Holdings, Inc. is the larger, with a market value of $392.4M against $257.6M — 1.5× the size. ECARX Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; Microvast Holdings, Inc. trades at 4.2×. ECARX Holdings, Inc. grew revenue faster over the last twelve months: 11.1% against −13.0%. Microvast Holdings, Inc. has the higher net margin (14.0% vs −2.25%) and the lower return on invested capital (−3.25% vs −2.71%). Across the 16 metrics below, Microvast Holdings, Inc. leads on 9 and ECARX Holdings, Inc. on 7.

Valuation

Metric ECX MVST Auto Parts median
P/E n/m 4.17 17.92
P/S 0.46 0.66 0.64
P/B n/m 0.44 1.15
Price to free cash flow n/m n/m 12.82
EV/EBITDA n/m 34.68 7.66
EV/Sales 0.99 0.59 0.73
Earnings yield (4.73%) 23.97% 2.73%
Free cash flow yield (81.91%) (6.64%) 3.47%

Profitability

Metric ECX MVST Auto Parts median
Gross margin 20.87% 25.11% 22.64%
Operating margin (1.01%) (7.34%) 3.67%
Net margin (2.25%) 13.95% 1.68%
Free cash flow margin 0.00% (4.35%) 2.31%
Return on equity 7.07% 11.40% 2.35%
Return on assets (2.68%) 5.24% 0.89%
Return on invested capital (2.71%) (3.25%) 4.55%

Growth

Metric ECX MVST Auto Parts median
Revenue growth (TTM) 11.13% (13.03%) 5.00%
EPS growth (last fiscal year) 50.00% 85.25% —
Revenue growth, 5-year CAGR — 31.79% 7.78%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ECX MVST Auto Parts median
Debt to equity (2.57) 0.22 0.38
Current ratio 0.72 1.09 1.78
Net debt to EBITDA (7.22) 2.98 1.26

Dividend

Metric ECX MVST Auto Parts median
Dividend yield — — 2.37%
Payout ratio 0.00 0.00 0.00

Size

Metric ECX MVST Auto Parts median
Market cap 392.42m 257.63m 914.31m

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