Microvast Holdings (MVST) FCF Margin (2020 - 2026)
Microvast Holdings' FCF Margin came in at -25.01% for Q2 2026, down 62.56 percentage points from 37.54% a year earlier but up 17.31 percentage points from the prior quarter.
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Analysis
Microvast Holdings (MVST) FCF Margin (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Microvast Holdings reported FCF Margin of -8.30%, down 14.28 percentage points year-over-year; for FY2025, it was 13.12%, up 19.67 percentage points from FY2024.
- FCF Margin has increased in each of the last three years, with a five-year change of +15.99 percentage points (FY2020 to FY2025).
- Going back by year, FCF Margin was -6.56% in FY2024 (+78.92 pp), -85.48% in FY2023 (+14.67 pp), -100.15% in FY2022 (-12.70 pp) and -87.45% in FY2021 (-84.58 pp).
- The five-year range for quarterly FCF Margin is -179.93% (Q1 2022) to 37.54% (Q2 2025).
- Year-over-year, FCF Margin increased in six of the last eight quarters, with an average year-over-year change of +13.93 percentage points.
- The fastest year-over-year change in FCF Margin over five years came in Q2 2024 (a gain of 113.42 percentage points), and the weakest in Q4 2021 (a drop of 114.62 percentage points).
- Business Quant data shows MVST's FCF Margin at -42.32% (Q1 2026), 16.37% (Q4 2025) and 0.96% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 252.99 Bn | 214.06 Bn | 2.36 Bn | 45.98% |
| 2 | Bloom Energy | 81.25 Bn | 73.07 Bn | 355.57 Mn | 16.41% |
| 3 | First Solar | 18.82 Bn | 9.78 Bn | 605.00 Mn | -28.99% |
| 4 | BWX Technologies | 12.55 Bn | 10.85 Bn | 202.31 Mn | 12.75% |
| 5 | Generac Holdings | 12.21 Bn | 11.04 Bn | 521.81 Mn | 5.36% |
| 6 | Nextpower | 11.82 Bn | 7.71 Bn | 335.85 Mn | 11.25% |
| 7 | EnerSys | 6.67 Bn | 4.86 Bn | 313.36 Mn | 23.27% |
| 8 | Enphase Energy | 4.36 Bn | -500.13 Mn | 175.01 Mn | 8.88% |
| 9 | Mirion Technologies | 3.45 Bn | 1.34 Bn | 133.10 Mn | 18.03% |
| 10 | Microvast Holdings | 246.10 Mn | -203.57 Mn | 25.78 Mn | -25.01% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -25.01% |
| Mar 31, 2026 | -42.32% |
| Dec 31, 2025 | 16.37% |
| Sep 30, 2025 | 0.96% |
| Jun 30, 2025 | 37.54% |
| Mar 31, 2025 | 4.14% |
| Dec 31, 2024 | 5.07% |
| Sep 30, 2024 | -19.34% |
| Jun 30, 2024 | -3.39% |
| Mar 31, 2024 | -10.09% |
| Dec 31, 2023 | -36.50% |
| Sep 30, 2023 | -111.45% |
| Jun 30, 2023 | -116.81% |
| Mar 31, 2023 | -100.24% |
| Dec 31, 2022 | -94.90% |
| Sep 30, 2022 | -30.73% |
| Jun 30, 2022 | -101.65% |
| Mar 31, 2022 | -179.93% |
| Dec 31, 2021 | -101.14% |
| Sep 30, 2021 | -55.53% |
API Access
Microvast Holdings FCF 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=fcf-margin&ticker=MVST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-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=fcf-margin&ticker=MVST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();