7 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $428M | -$29M | 28.6% | 1.6% | $56M | $106M | $105M |
| 2024 | $380M | -$195M | 31.5% | -30.6% | -$25M | $112M | $73M |
| 2023 | $307M | -$106M | 18.7% | -34.8% | -$262M | $79M | $45M |
| 2022 | $204M | -$158M | 4.4% | -78.2% | -$205M | $46M | $231M |
| 2021 | $152M | -$206M | -28.1% | -127.7% | -$133M | $13M | $481M |
| 2020 | $108M | -$2M | 15.9% | -27.1% | -$3M | — | $21M |
| 2019 | $76M | $3M | -0.3% | -70.5% | -$7M | — | $140303 |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $61M | $48M | 31.6% | -13.1% | -$26M | $139M | $126M |
| Dec '25 | $96M | $17M | 1.0% | -42.7% | $16M | $106M | $105M |
| Sep '25 | $123M | -$1M | 37.6% | 10.5% | $1M | $119M | $91M |
| Jun '25 | $91M | -$106M | 34.7% | 17.8% | $34M | $117M | $100M |
| Mar '25 | $116M | $62M | 36.9% | 13.1% | $5M | $128M | $91M |
| Dec '24 | $113M | -$82M | 36.6% | -1.2% | $6M | $112M | $73M |
| Sep '24 | $101M | $13M | 33.2% | 7.1% | -$20M | $120M | $64M |
| Jun '24 | $84M | -$102M | 32.5% | -118.0% | -$3M | $94M | $68M |
| Mar '24 | $81M | -$25M | 21.2% | -28.4% | -$8M | $84M | $39M |
| Dec '23 | $105M | -$25M | 22.0% | -21.2% | -$38M | $79M | $45M |
| Sep '23 | $80M | -$26M | 22.3% | -32.9% | -$89M | $56M | $67M |
| Jun '23 | $75M | -$26M | 15.3% | -35.8% | -$88M | $49M | $143M |
| Mar '23 | $47M | -$30M | 10.3% | -66.6% | -$47M | $51M | $200M |
| Dec '22 | $65M | -$34M | 3.4% | -53.4% | -$61M | $46M | $231M |
| Sep '22 | $39M | -$37M | 5.2% | -96.0% | -$12M | $45M | $296M |
| Jun '22 | $64M | -$44M | 7.5% | -69.8% | -$65M | — | $334M |
| Mar '22 | $37M | -$44M | 0.0% | -118.0% | -$66M | — | $416M |
| Dec '21 | $67M | -$47M | 1.7% | -71.3% | -$68M | $13M | $481M |
| Sep '21 | $37M | -$116M | -97.3% | -307.1% | -$20M | — | $573M |
| Jun '21 | — | -$27M | — | — | -$17M | — | $13M |
How the market has priced MVST against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Microvast Holdings, Inc.'s revenue has grown 31.8% per year. These are computed facts, not advice.
As of FY2025, Microvast Holdings, Inc. reported $106M of total debt against $105M of cash; operating income covered interest expense 1.4×.
In FY2025, gross margin was 28.6%, operating margin 1.6%, and net margin -6.8%.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.