Microvast Holdings, Inc. (MVST) vs SES AI Corporation (SES)

Microvast Holdings, Inc. and SES AI Corporation are both Auto Parts companies. Microvast Holdings, Inc. is the larger, with a market value of $257.6M against $203.9M — 1.3× the size. SES AI Corporation has negative trailing earnings, so its P/E is not meaningful; Microvast Holdings, Inc. trades at 4.2×. Microvast Holdings, Inc. has the higher net margin (14.0% vs −289.6%) and the higher return on invested capital (−3.25% vs −190.6%). Across the 16 metrics below, Microvast Holdings, Inc. leads on 12 and SES AI Corporation on 4.

Valuation

Metric MVST SES Auto Parts median
P/E 4.17 n/m 17.92
P/S 0.66 7.60 0.64
P/B 0.44 0.95 1.15
Price to free cash flow n/m n/m 12.82
EV/EBITDA 34.68 n/m 7.66
EV/Sales 0.59 1.06 0.73
Earnings yield 23.97% (37.74%) 2.73%
Free cash flow yield (6.64%) (33.92%) 3.47%

Profitability

Metric MVST SES Auto Parts median
Gross margin 25.11% 27.75% 22.64%
Operating margin (7.34%) (312.83%) 3.67%
Net margin 13.95% (289.64%) 1.68%
Free cash flow margin (4.35%) (257.68%) 2.31%
Return on equity 11.40% (31.15%) 2.35%
Return on assets 5.24% (25.81%) 0.89%
Return on invested capital (3.25%) (190.64%) 4.55%

Growth

Metric MVST SES Auto Parts median
Revenue growth (TTM) (13.03%) — 5.00%
EPS growth (last fiscal year) 85.25% 29.03% —
Revenue growth, 5-year CAGR 31.79% — 7.78%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric MVST SES Auto Parts median
Debt to equity 0.22 0.00 0.38
Current ratio 1.09 6.52 1.78
Net debt to EBITDA 2.98 2.76 1.26

Dividend

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

Size

Metric MVST SES Auto Parts median
Market cap 257.63m 203.92m 914.31m

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