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Microvast Holdings
(NASDAQ:MVST)
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Rating:51Neutral
Price Target:
$0.60
▼(-22.08% Downside)
Action:Reiterated
Date:09/06/26
The score is driven primarily by uneven financial performance: improved reported profitability and a healthier balance sheet are outweighed by negative operating/free cash flow, negative TTM EBIT, and declining revenue. Technicals add further pressure with a clear downtrend and weak momentum. Valuation looks optically cheap on P/E, but the latest earnings call and corporate events highlight near-term execution, cash burn, and listing/financing risks that limit upside confidence.
Positive Factors
Improved Balance Sheet
Lower leverage materially improves financial flexibility compared with prior years, reducing balance-sheet pressure as Microvast invests in production and technology. If profitability stabilizes, the stronger equity base and moderate debt burden could support continued execution without excessive reliance on borrowing.
Negative Factors
Revenue and Volume Decline
The simultaneous contraction in revenue and shipped volumes signals weaker current demand and reduced utilization of Microvast’s commercial platform. Sustained weakness would limit operating leverage, slow the benefits of new capacity, and make a durable return to operating profitability more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Balance Sheet
Lower leverage materially improves financial flexibility compared with prior years, reducing balance-sheet pressure as Microvast invests in production and technology. If profitability stabilizes, the stronger equity base and moderate debt burden could support continued execution without excessive reliance on borrowing.
Read all positive factors
Microvast Holdings (MVST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$229.76M
Dividend YieldN/A
Average Volume (3M)7.03M
Price to Earnings (P/E)3.7
Beta (1Y)-0.43
Revenue Growth-13.03%
EPS GrowthN/A
CountryUS
Employees1,908
SectorConsumer Cyclical
Sector Strength84
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.16
Shares Outstanding384,534,500
10 Day Avg. Volume6,683,358
30 Day Avg. Volume7,027,011
Financial Highlights & Ratios
PEG Ratio0.36
Price to Book (P/B)2.21
Price to Sales (P/S)2.13
P/FCF Ratio16.21
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$4.00Price Target Upside419.48% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.02
Revenue Forecast (FY)$402.80M
Microvast Holdings Business Overview & Revenue Model
Company Description
Microvast Holdings, Inc. is a company that designs, develops, and manufactures advanced battery systems tailored for electric vehicles (EVs) and stationary energy storage. The company showcases vertical integration by also producing key battery co...
How the Company Makes Money
Microvast makes money primarily by selling lithium-ion battery products and related components to customers that integrate these systems into electric vehicles or energy storage solutions. Key revenue streams typically include: (1) battery cells (...
Microvast Holdings Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 16, 2026
Earnings Call Sentiment Negative
The call presents meaningful technical and operational progress (R&D breakthroughs, Phase 3.2 commissioning, strong European growth and a solid cash balance) but is dominated by significant near-term financial pressures: large year-to-date revenue declines, margin compression, increased operating costs, deterioration from adjusted profit to adjusted losses, operating cash outflows, and regional demand weakness (U.S. and APAC). While the company has strong technology milestones and runway in Europe, these positives do not offset the material financial deterioration and execution/financing risks discussed.Positive Updates
Quarterly Revenue and Gross Profit
Q2 revenue of $87.3 million; gross profit $25.8 million. Despite year-over-year pressure, the company remains revenue-generating at the quarter level (Q2 revenue decreased $4.1 million or 4.5% YoY).
Negative Updates
Significant YTD Revenue Decline
Revenue for the 6-month period decreased by $60 million or 28.8% year-over-year; sales volumes fell ~24.3% from ~947 MWh to ~717 MWh compared to prior-year period.
Read all updates
Q2-2026 Updates
Positive
Negative
Quarterly Revenue and Gross Profit
Q2 revenue of $87.3 million; gross profit $25.8 million. Despite year-over-year pressure, the company remains revenue-generating at the quarter level (Q2 revenue decreased $4.1 million or 4.5% YoY).
Read all positive updates
Company Guidance
Microvast’s guidance focused on accelerating the path to profitability through tighter execution, margin discipline and targeted high‑margin products, with Huzhou Phase 3.2 expected to reach SOP in 2026 and add up to 2 GWh of annual capacity (equipment commissioning complete, serial production progressing later this year) and Clarksville pipeline assembly on schedule for initial output by year‑end (full‑scale plant conditional on additional financing/partners); management reiterated goals to protect gross margins and deploy innovations like the KAF powertrain. They framed this operational guidance against recent metrics: Q2 revenue $87.3M (down 4.5% y/y), Q2 gross margin 29.5% (vs 34.7% prior), Q2 GAAP net loss $12M (adjusted net loss $5.3M; adjusted EBITDA $3.6M), six‑month revenue down $60M (−28.8%) with volumes down 24.3% from ~947 MWh to ~717 MWh, operating cash used $33.3M for the six months and cash & restricted cash of $143.1M at quarter end; R&D milestones cited as commercialization catalysts include a 17‑layer bipolar prototype delivering ~72V and ~88.5% capacity retention after 200 cycles (0.33C) and an all‑solid silicon‑sulfur lab prototype >1,000 mAh/g retaining >90% after 15 cycles.Microvast Holdings Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
71
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 367.56M | 427.52M | 379.80M | 306.62M | 204.50M | 151.98M |
| Gross Profit | 92.31M | 154.62M | 119.55M | 57.23M | 9.07M | -42.74M |
| EBITDA | 75.48M | 3.49M | -154.91M | -80.85M | -134.48M | -180.36M |
| Net Income | 51.27M | -29.22M | -195.46M | -106.34M | -158.20M | -216.01M |
Balance Sheet | ||||||
| Total Assets | 952.19M | 1.01B | 951.87M | 1.10B | 984.96M | 995.29M |
| Cash, Cash Equivalents and Short-Term Investments | 143.09M | 104.96M | 73.01M | 87.65M | 256.49M | 480.93M |
| Total Debt | 193.04M | 384.49M | 328.89M | 205.18M | 175.00M | 147.40M |
| Total Liabilities | 409.10M | 594.93M | 563.97M | 532.54M | 371.98M | 308.59M |
| Stockholders Equity | 543.09M | 410.51M | 387.89M | 564.19M | 612.98M | 686.70M |
Cash Flow | ||||||
| Free Cash Flow | -23.30M | 56.07M | -24.91M | -262.09M | -204.81M | -132.90M |
| Operating Cash Flow | 5.50M | 75.91M | 2.81M | -75.30M | -53.93M | -45.04M |
| Investing Cash Flow | -14.27M | -16.05M | -12.15M | -165.60M | -175.94M | -87.86M |
| Financing Cash Flow | 5.07M | -2.68M | 37.59M | 33.04M | 4.97M | 624.95M |
Microvast Holdings Technical Analysis
Negative
0.77
Price Trends
0.84
Negative
1.17
Negative
1.84
Negative
Market Momentum
-0.07
Positive
26.17
Positive
4.56
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MVST, the sentiment is Negative. The current price of 0.77 is above the 20-day moving average (MA) of 0.73, below the 50-day MA of 0.84, and below the 200-day MA of 1.84, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 26.17 is Positive, neither overbought nor oversold. The STOCH value of 4.56 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MVST.
Microvast Holdings Risk Analysis
Microvast Holdings disclosed 105 risk factors in its most recent earnings report. Microvast Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Microvast Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
51 Neutral | $229.76M | 3.70 | 11.54% | ― | -13.03% | ― | |
50 Neutral | $680.29M | -3.88 | -66.93% | ― | 34.88% | -18.59% | |
50 Neutral | $1.38B | -32.47 | -34.75% | ― | 143.61% | 13.94% | |
48 Neutral | $1.36B | -2.06 | -144.49% | ― | 426.99% | 36.20% | |
48 Neutral | $577.30M | -5.50 | -19.68% | ― | -51.49% | 14.04% | |
47 Neutral | $1.44B | -0.87 | 55.63% | ― | 533.87% | 31.49% |
* Consumer Cyclical Sector Average
MVST
Microvast Holdings
0.60
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-82.13%
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Microvast Holdings Corporate Events
Delistings and Listing ChangesRegulatory Filings and Compliance
Microvast Faces Nasdaq Non-Compliance, Delisting Risk Looms
Negative
Aug 31, 2026
On August 26, 2026, Microvast Holdings, Inc. received a notice from Nasdaq that its common stock had closed below the $1 minimum bid price requirement for 30 consecutive trading days, rendering the company non-compliant with Nasdaq Rule 5450(a)(1)...
Business Operations and StrategyExecutive/Board Changes
Microvast Appoints Derek Liu as Chief Accounting Officer
Positive
Aug 7, 2026
On August 6, 2026, Microvast Holdings entered into an employment offer with veteran mining and metals finance executive Derek Liu, appointing him as chief accounting officer, with his start date expected on or about August 7, 2026. Liu, 56, brings...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.