Microvast Holdings (MVST) FCF Margin (2020 - 2026)
Microvast Holdings' FCF Margin came in at -75.24% for Q3 2026, down 76.20 percentage points from 0.96% a year earlier and down 50.23 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 Sep 30, 2026, Microvast Holdings reported FCF Margin of -22.81%, down 33.17 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 Q3 2026 figure represents the lowest quarterly FCF Margin since Q3 2023.
- Year-over-year, FCF Margin has declined for three consecutive quarters, with an average year-over-year change of -7.11 percentage points over the last eight quarters.
- 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 -25.01% (Q2 2026), -42.32% (Q1 2026) and 16.37% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn | 42.79% |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn | -14.62% |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn | -16.07% |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn | 12.17% |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn | 15.79% |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn | 10.17% |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn | 17.53% |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn | 18.94% |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn | 17.03% |
| 10 | Microvast Holdings | 84.60 Mn | -359.15 Mn | 2.40 Mn | -75.24% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -75.24% |
| 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% |
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();