Microvast Holdings (MVST) Gross Margin (2020 - 2026)
Microvast Holdings (MVST) recorded quarterly Gross Margin of 31.6% in Q1 2026, up 3076.88% quarter-over-quarter from 0.99% in Q4 2025, and down 532.0% on a YoY basis from 7.32% in Q1 2025.
Microvast Holdings (MVST) Gross Margin (2020 - 2026) Analysis & Trends
Microvast Holdings' Gross Margin history runs 7 years deep, the most recent figure standing at 31.6% for Q1 2026.
- In Q1 2026, Gross Margin fell 532.0% year-over-year to 31.6%; the TTM figure through Mar 2026 stood at 26.44% (down 859.0% YoY), while the FY2025 annual figure was 28.56%, down 291.0% from the prior year.
- Gross Margin was 31.6% for Q1 2026 at Microvast Holdings, up from 0.99% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 37.65% in Q3 2025 to a low of 0.04% in Q1 2022.
- Historically, Gross Margin has averaged 20.67% across 5 years, with a median of 22.02% in 2023.
- The sharpest annual moves came in 2022 and 2025: Gross Margin soared 10243 bps in 2022, then sank 3562 bps in 2025.
- A 5-year view of Gross Margin shows it stood at 3.44% in 2022, then soared by 541 bps to 22.02% in 2023, then soared by 66 bps to 36.62% in 2024, then sank by 97 bps to 0.99% in 2025, then surged by 3077 bps to 31.6% in 2026.
- The last three Gross Margin figures came in at 31.6% (Q1 2026), 0.99% (Q4 2025), and 37.65% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | O Reilly Automotive | 76.00 Bn | 75.75 Bn | 2.35 Bn | 51.47% |
| 2 | Autozone | 51.46 Bn | 51.20 Bn | 2.52 Bn | 52.15% |
| 3 | Modine Manufacturing | 15.07 Bn | 14.98 Bn | 186.10 Mn | 23.12% |
| 4 | Borgwarner | 14.88 Bn | 15.05 Bn | 677.00 Mn | 19.16% |
| 5 | Genuine Parts | 14.73 Bn | 14.25 Bn | 2.34 Bn | 37.33% |
| 6 | Aptiv | 13.96 Bn | 10.89 Bn | 920.00 Mn | 18.09% |
| 7 | Aurora Innovation | 11.93 Bn | 10.71 Bn | -5.00 Mn | -500.00% |
| 8 | Magna International | 10.79 Bn | 9.60 Bn | 1.42 Bn | 13.71% |
| 9 | Allison Transmission Holdings | 10.06 Bn | 9.75 Bn | 406.00 Mn | 28.88% |
| 10 | Microvast Holdings | 417.11 Mn | 243.11 Mn | 19.16 Mn | 31.60% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 31.60% |
| Dec 31, 2025 | 0.99% |
| Sep 30, 2025 | 37.65% |
| Jun 30, 2025 | 34.73% |
| Mar 31, 2025 | 36.93% |
| Dec 31, 2024 | 36.62% |
| Sep 30, 2024 | 33.15% |
| Jun 30, 2024 | 32.50% |
| Mar 31, 2024 | 21.17% |
| Dec 31, 2023 | 22.02% |
| Sep 30, 2023 | 22.32% |
| Jun 30, 2023 | 15.29% |
| Mar 31, 2023 | 10.34% |
| Dec 31, 2022 | 3.44% |
| Sep 30, 2022 | 5.16% |
| Jun 30, 2022 | 7.52% |
| Mar 31, 2022 | 0.04% |
| Dec 31, 2021 | 1.73% |
| Sep 30, 2021 | -97.27% |
| Jun 30, 2021 | -20.30% |