ELVA vs QS vs MVST Stock Comparison

Electrovaya, QuantumScape and Microvast Holdings Prices as of Oct 26, 2026 Peers: Industry group
ELVA Electrovaya Inc.
$5.13 -19.2% 1M -22.3% 1Y
Market cap
$203.98M
P/E
46.3x
Revenue (TTM)
$71.82M
Div. yield
–
Energy Storage Industrials
5 wins
QS QuantumScape Corp
$3.90 -20.6% 1M -76.8% 1Y
Market cap
$2.60B
P/E
–
Revenue (TTM)
—
Div. yield
–
Energy Storage Industrials
2 wins

Head to Head

10 decided of 12

Electrovaya leads on 5 of the 12 questions below (Electrovaya 5, Microvast Holdings 3, QuantumScape 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionELVAQSMVSTLeader
Larger companyMarket capitalisation $203.98M $2.60B $185.54M QS
Cheaper on earningsLower P/E, profitable companies only 46.3x -6.8x 3.6x MVST
Cheaper on forward earningsLower price / next fiscal year consensus EPS 57.0x — — –
Faster revenue growthRevenue growth, trailing twelve months +30.9% — -13.0% ELVA
More profitableNet margin, trailing twelve months 6.1% — 13.9% MVST
Better return on capitalReturn on invested capital 3.4% — -2.6% ELVA
Less leveragedLower net debt / EBITDA 4.9x — -16.1x MVST
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -22.3% -76.8% -91.4% ELVA
Better 5-year returnAnnualised price return, 5 years +1.7%/yr -30.2%/yr -42.6%/yr ELVA
Less volatileAnnualised volatility, 1 year 94.5% 70.0% 94.0% QS
Higher overall scoreMean of the five percentile scores vs peers 76/100 49/100 65/100 ELVA

Percentile Scorecard

ELVAQSMVST

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisELVAQSMVST
Valuation 65 #22 of 61 42 #36 of 61 88 #8 of 61
Growth 95 #4 of 58 44 #33 of 58 72 #17 of 58
Profitability 74 #15 of 55 35 #36 of 55 65 #20 of 55
Financial Health 54 #33 of 71 86 #11 of 71 36 #46 of 71
Shareholder Returns 93 #3 of 29 39 #18 of 29 –
Overall 76 49 65
  • ELVA ranked among 71 companies in Clean Energy Equipment
  • QS ranked among 71 companies in Clean Energy Equipment
  • MVST ranked among 71 companies in Clean Energy Equipment

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodELVAQSMVSTSPY
1 month -19.2%-20.6%-29.0% -0.8%
3 months -38.9%-24.7%-38.8% +3.5%
6 months -44.9%-44.8%-74.7% +7.0%
Year to date -35.1%-62.6%-82.5% +12.2%
1 year -22.3%-76.8%-91.4% +13.0%
3 years +80.8%-26.1%-61.7% +86.3%
3 years, per year +21.8%-9.6%-27.4% +23.1%
5 years +8.8%-83.4%-93.8% +68.6%
5 years, per year +1.7%-30.2%-42.6% +11.0%
10 years -56.0%—— +258.0%
10 years, per year -7.9%—— +13.6%

Risk

MeasureELVAQSMVSTSPY
Volatility, 1Y 94.5%70.0%94.0% 12.7%
Downside volatility, 1Y 90.9%72.7%105.3% 12.7%
Beta vs S&P 500, 1Y 3.443.032.82 1.00
Return / volatility, 1Y -0.24-1.10-0.97 1.02
Max drawdown, 5Y -64.2%-91.4%-98.4% -25.4%
From 52-week high -58.2%-78.9%-91.0% -1.8%
52-week high $12.26$18.44$5.45 $779.14
52-week low $4.23$3.89$0.49 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleELVAQSMVST
P/E now vs peer median 45.5xmedian 25.4x -6.3xmedian 25.4x 3.3xmedian 25.4x
P/S now vs peer median 3.0xmedian 2.1x —median 2.1x 0.5xmedian 2.1x
EV/EBITDA now vs peer median 47.0xmedian 17.5x -4.4xmedian 17.5x -53.8xmedian 17.5x
P/FCF now vs peer median 57.1xmedian 27.3x -9.4xmedian 27.3x -6.2xmedian 27.3x
P/B now vs peer median 3.2xmedian 1.7x 2.4xmedian 1.7x 0.3xmedian 1.7x
PEG now vs peer median —median 0.77 -0.49median 0.77 0.10median 0.77

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsELVAQSMVST
Revenue $71.82M – $367.56M
Gross profit $23.70M – $92.31M
Operating income $6.72M -$418.18M -$37.82M
Net income $4.41M -$383.62M $51.27M
Free cash flow $3.78M -$258.79M -$30.52M
R&D $4.26M $327.75M $35.81M
EPS (diluted) – $-0.62 $0.15
Cash & equivalents $13.08M $75.60M $127.83M
Total debt $118.21M – $208.38M
Shares (diluted) – 620.56M 348.95M
Enterprise value $141.49M -$957.26M -$264.13M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricELVAQSMVST
P/E 45.5x -6.3x 3.3x
P/FCF 57.1x -9.4x -6.2x
P/Operating cash flow -25.9x -10.6x -109.3x
P/S 3.0x – 0.5x
P/B 3.2x 2.4x 0.3x
P/Tangible book 3.2x 2.4x 0.4x
EV/EBITDA 47.0x -4.4x -53.8x
EV/EBIT 35.9x -3.8x -7.1x
EV/Revenue 3.4x – 0.7x
EV/FCF 63.7x -6.2x -8.8x
EV/Operating cash flow -28.9x -7.0x -156.0x
PEG (3Y EPS CAGR) – -0.49 0.10

Growth

14 metrics
MetricELVAQSMVST
Revenue growth (1Y) 30.9% – -13.0%
Revenue CAGR (3Y) 31.3% – 17.7%
Gross profit growth (1Y) 45.1% – -38.4%
Gross profit CAGR (3Y) 43.3% – 65.0%
Operating income growth (1Y) 159.9% 14.8% -225.8%
Operating income CAGR (3Y) 52.9% 3.7% 33.7%
Net income growth (1Y) 267.2% 14.7% 145.2%
Net income CAGR (3Y) 38.9% 4.5% 34.0%
EPS growth (1Y) – 19.1% 142.0%
EPS CAGR (3Y) – 12.9% 33.1%
Operating cash flow growth (1Y) -26.6% 7.1% -103.8%
Operating cash flow CAGR (3Y) – 2.5% 62.0%
Free cash flow growth (1Y) 145.4% 7.6% -220.9%
Free cash flow CAGR (3Y) – 9.9% 47.3%

Profitability

14 metrics
MetricELVAQSMVST
Gross margin 33.0% – 25.1%
EBITDA margin 7.1% – -1.4%
Operating margin 9.3% – -10.3%
Pretax margin 9.3% – -3.1%
Net margin 6.1% – 13.9%
FCF margin 5.3% – -8.3%
Operating cash flow margin -11.6% – -0.5%
Return on equity 9.8% -37.5% 10.2%
Return on assets 5.7% -33.5% 5.3%
Return on invested capital 3.4% – -2.6%
Return on capital employed 6.6% -38.3% -6.0%
Asset turnover 0.6x – 0.4x
Cash conversion (OCF / net income) -1.9x 0.6x 0.0x
Stock comp / revenue 4.6% – 0.9%

Financial Health

11 metrics
MetricELVAQSMVST
Debt / assets 32.3% – 21.9%
Debt / equity 0.6x – 0.4x
Net debt / EBITDA 4.9x – -16.1x
Debt / FCF 10.1x – -6.8x
Liabilities / assets 43.3% 11.1% 43.0%
Equity / assets 56.7% 88.9% 57.0%
Interest coverage 18.8x -221.6x -14.8x
Current ratio 7.5x 16.1x 1.1x
Quick ratio 4.3x 15.8x 0.7x
Cash ratio 1.3x 15.8x 0.4x
Altman Z-score 2.53 – -1.03

Shareholder Returns

7 metrics
MetricELVAQSMVST
Dividend yield – – –
Net buyback yield 1.9% -0.5% –
Shareholder yield 1.9% -0.5% –
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusELVAQSMVST
Forward P/E 57.0xFY2026 – –
EPS, next fiscal year $0.09FY2026 $-0.61FY2026 $-0.04FY2026
EPS growth, next FY 0.0%FY2026 – -200.0%FY2026
EPS growth, the year after +133.3% – –
Revenue, next fiscal year $74.36MFY2026 $0.00FY2026 $387.00MFY2026
Revenue growth, next FY +16.5%FY2026 – -9.5%FY2026
Revenue growth, the year after +44.3% – +27.4%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersELVAQSMVST
Held by institutions 37.1% 33.9% 21.5%
Institutions holding 94 451 158
Change in shares held, QoQ +4.8% -10.0% +9.2%
Institutions buying 52 258 83
Institutions selling 26 90 46
Buyers to sellers 2.00 2.87 1.80

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

ELVAQSMVST
ELVA 1.00 0.44 0.36
QS 0.44 1.00 0.41
MVST 0.36 0.41 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ELVA, QS and MVST?

QuantumScape (QS) is the largest by market capitalisation: Electrovaya (ELVA) $203.98M, QuantumScape (QS) $2.60B, Microvast Holdings (MVST) $185.54M.

Which stock is cheaper, ELVA, QS and MVST?

Microvast Holdings (MVST) trades on the lowest price-to-earnings ratio (Electrovaya (ELVA) 46.3x, QuantumScape (QS) -6.8x, Microvast Holdings (MVST) 3.6x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Electrovaya (ELVA) grew revenue fastest over the trailing twelve months: Electrovaya (ELVA) +30.9%, Microvast Holdings (MVST) -13.0%.

Which company is more profitable?

Microvast Holdings (MVST) has the highest net margin (Electrovaya (ELVA) 6.1%, Microvast Holdings (MVST) 13.9%). On return on invested capital, Electrovaya (ELVA) leads (Electrovaya (ELVA) 3.4%, Microvast Holdings (MVST) -2.6%).

Which stock has performed better?

Over the past year Electrovaya (ELVA) returned the most: Electrovaya (ELVA) -22.3%, QuantumScape (QS) -76.8%, Microvast Holdings (MVST) -91.4%. Over five years, Electrovaya (ELVA) compounded fastest (Electrovaya (ELVA) +1.7%/yr, QuantumScape (QS) -30.2%/yr, Microvast Holdings (MVST) -42.6%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, QuantumScape (QS) has been the steadiest (Electrovaya (ELVA) 94.5%, QuantumScape (QS) 70.0%, Microvast Holdings (MVST) 94.0%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ELVA, QS and MVST?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Electrovaya (ELVA) leads on 5. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.