Microvast Holdings (MVST) EBITDA Margin (2020 - 2026)
Microvast Holdings' EBITDA Margin was -126.74% in Q3 2026, down 145.53 percentage points from 18.79% a year earlier and down 134.03 percentage points from the prior quarter.
Powered by 
Analysis
Microvast Holdings (MVST) EBITDA Margin (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, Microvast Holdings' EBITDA Margin was -25.98% through Sep 30, 2026, down 41.80 percentage points year-over-year; for FY2025, it came in at 9.38%, up 31.83 percentage points from FY2024.
- EBITDA Margin has now increased for four consecutive years, with a five-year change of +20.84 percentage points (FY2020 to FY2025).
- In earlier years, EBITDA Margin was -22.45% in FY2024 (+4.88 pp), -27.33% in FY2023 (+40.93 pp), -68.26% in FY2022 (+45.81 pp) and -114.06% in FY2021 (-102.61 pp).
- The Q3 2026 figure marks the lowest quarterly EBITDA Margin since Q3 2021.
- Compared with a year earlier, EBITDA Margin has declined for four straight quarters, with an average year-over-year change of -2.11 percentage points over the last eight quarters.
- The best year-over-year quarter for EBITDA Margin over five years was Q3 2022 (a gain of 210.10 percentage points); the worst was Q3 2026 (a drop of 145.53 percentage points).
- Per Business Quant data, MVST's EBITDA Margin in the three quarters before Q3 2026 was 7.29% (Q2 2026), 0.24% (Q1 2026) and -24.71% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn | 14.50% |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn | 19.62% |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn | 56.39% |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn | 20.06% |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn | 17.38% |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn | 19.08% |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn | 19.92% |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn | 15.24% |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn | 20.45% |
| 10 | Microvast Holdings | 84.60 Mn | -359.15 Mn | 2.40 Mn | -126.74% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -126.74% |
| Jun 30, 2026 | 7.29% |
| Mar 31, 2026 | 0.24% |
| Dec 31, 2025 | -24.71% |
| Sep 30, 2025 | 18.79% |
| Jun 30, 2025 | 18.97% |
| Mar 31, 2025 | 20.12% |
| Dec 31, 2024 | 5.64% |
| Sep 30, 2024 | 14.71% |
| Jun 30, 2024 | -108.88% |
| Mar 31, 2024 | -19.00% |
| Dec 31, 2023 | -13.89% |
| Sep 30, 2023 | -26.60% |
| Jun 30, 2023 | -29.04% |
| Mar 31, 2023 | -55.78% |
| Dec 31, 2022 | -46.05% |
| Sep 30, 2022 | -83.30% |
| Jun 30, 2022 | -61.73% |
| Mar 31, 2022 | -103.10% |
| Dec 31, 2021 | -62.57% |
API Access
Microvast Holdings EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=MVST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "MVST", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=MVST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();