Microvast Holdings

MVST

Electrical Equipment & Parts · Industrials

Price

$0.90

-0.02 (-2.12%)

Market Cap

$300.5M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+74.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 185.9M (2021) → 324.7M (2025)

Microvast Holdings, Inc. designs, develops, and manufactures battery systems for electric vehicles and energy storage systems. The company offers a range of cell chemistries, such as lithium titanate oxide, lithium iron phosphate, and nickel manganese cobalt version 1 and 2.It also designs, develops, and manufactures battery components, such as cathode, anode, electrolyte, and separator. In addition, the company offers battery solutions for commercial vehicles and energy storage systems. Its com

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-48.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-21.1% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$34M/ year

↓ Declining (-17% vs prior year)

8.0% of revenue

2.0x the sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

37.4%ownership

Insiders own a meaningful stake in the company

Cash Runway

~15 months

$126M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Revenue declining

Microvast Holdings's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

31.6%

Modest — 31.6% gross margin

Operating Margin

-13.1%

Losing money on operations — -13.1%

ROCE

-1.2%

Weak — -1.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-10.4%

Shrinking sales (-10.4% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

1.6%

Thin free cash flow (1.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.38

Conservative — low debt load (0.38)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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