Microvast Holdings, Inc. (MVST) Stock

Microvast Holdings, Inc. (MVST) is a Industrials stock trading at $0.79 (as of 2026-08-20), with a market capitalization of $302.59M and a trailing P/E of 5.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Microvast Holdings, Inc. designs, develops, and manufactures battery systems and battery components, including cathodes, anodes, electrolytes, and separators, using various lithium-based chemistries for electric vehicles and energy storage. Its battery solutions are used in commercial vehicle applications such as buses, trucks, mining and marine/port uses, and rail, serving customers in the United States and internationally.

Understand Microvast Holdings, Inc.: how it makes money

Microvast designs, develops, and manufactures battery systems and battery components for electric vehicles and energy storage, generating revenue through contracted battery deliveries and related performance obligations.

The profit model is contract-driven, where future revenue depends on converting Remaining Performance Obligations into delivered sales, supported by operating capacity and utilization.

Business quality (Weak): Gross margin was 31.6% but operating margin was -13.1% in the latest period, which suggests that costs after gross profit have been a key headwind, even while contracted work remains on the books.

Bull case

  • Contracted work remains: Remaining Performance Obligations are USD 0.4B, and Forecasted Contract Revenue is USD 2.5B, indicating future delivery-related revenue coverage.
  • Operations show measurable capacity and delivery activity: Huzhou Phase 3.1 Utilization is 70%, contract capacity for deliveries is 75%, and Delivered Sales Volume is 274.0.

Bear case

  • Operating losses persist: In the latest reported period, gross margin was 31.6% while operating margin was -13.1%, indicating operating expenses outweigh gross profit.
  • Commercial vehicle order intake is reported as zero: Commercial Vehicle Order Intake is 0.0 USD_B, which can limit the addition of new contracted demand.
Valuation — source: SEC EDGAR (first-party)
Price$0.79
Market Cap$302.59M
P/E Ratio5.9
Price / Book0.56
Price / Sales0.82
FCF Yield-11.8%
DCF Value (model)$0.19
DCF Upside vs Price-75.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$427.52M
Net Margin-6.8%
Revenue Growth (YoY)-4.5%
EPS Growth (YoY)-90.9%
FCF Growth (YoY)-163.7%
Financial Health — source: SEC EDGAR
Altman Z-Score-0.90 (distress)
Valuation vs Sector & Industry
Stock P/E5.9
Sector P/E (Industrials)25.9
Industry P/E (Electrical Equipment)37.8
vs Sector-77.2%
vs Industry-84.4%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($33.93M)
Institutional Holders Tracked10
Company
SectorIndustrials
IndustryElectrical Equipment
CEOYang Wu
Employees1,921
CountryUS
IPO Date2019-03-27

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MVST earnings history · MVST institutional & insider holders · MVST KPIs & operating metrics · MVST financials · MVST investor presentations & press releases · MVST SEC filings · MVST peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.