Microvast Holdings Inc. Common Stock (MVST)

FairStock Score: 56/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Microvast is a battery-components business selling into commercial electric vehicles and energy storage—a capital-hungry, competitive field where scale and cost matter. I look for a durable moat; here I see engineered products but no evidence of pricing power. Filed figures show revenue of $306.6M in fiscal 2023, the year ended 2023-12-31; $379.8M in fiscal 2024, the year ended 2024-12-31; and $427.5M in fiscal 2025, the year ended 2025-12-31. That is growth, but it has not produced profits: net losses were $106.3M, $195.5M, and $29.2M in those same periods. In fiscal Q2 2026, the quarter ended 2026-06-30, Microvast lost $12.0M on $87.3M of revenue, a -13.7% margin. Cash generation is negative: trailing free cash flow was -$30.5M, and FairStock's FCF yield is -14.3%. Financial health is strained: Altman Z-score -1.16, Piotroski 4/9, and a Lynch category of none because of losses in each of the last four years. On valuation, at the 2026-10-13 close of $0.56, market cap was $213.4M, with FairStock P/B 0.39 and EV/EBITDA 3.32. P/B looks cheap, but book value can be a mirage when losses persist. P/E is negative. ROCE 0.48% says capital is barely earning anything. Beta 3.55 and the 52-week range of $0.54-$7.12 show extreme volatility. The stock is a speculative turnaround, not a Graham bargain. I would need evidence of sustainable profitability, positive free cash flow, and a path to profits before calling it a business with a margin of safety.

In plain English: Microvast makes batteries and battery parts for electric commercial vehicles and energy storage. The business is still losing money and using cash, even though revenue grew from fiscal 2023 to fiscal 2025. At $0.56 on 2026-10-13, the stock looks cheap compared with the accounting value of its assets, but the weak profits and cash burn mean the low price may reflect real risk.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer