Microvast Holdings (MVST) Gross Margin (2020 - 2026)
Microvast Holdings (MVST) posted Gross Margin of 29.54% for Q2 2026, down 6.53% on a QoQ basis from 31.6% in Q1 2026, and down 519.0% year-over-year from 7.05% in Q2 2025.
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Microvast Holdings (MVST) Gross Margin (2020 - 2026) Analysis & Trends
Microvast Holdings has reported Gross Margin for 7 years, with the latest figure at 29.54% in Q2 2026.
- On a quarterly basis, Gross Margin fell 519.0% year-over-year to 29.54% in Q2 2026; TTM through Jun 2026 was 25.11%, a 1035.0% decrease from a year earlier, with the FY2025 full-year figure at 28.56%, down 291.0% from the prior year.
- Gross Margin was 29.54% for Q2 2026 at Microvast Holdings, down from 31.6% in the prior quarter.
- The five-year high for Gross Margin was 37.65% in Q3 2025, with the low at 0.04% in Q1 2022.
- Average Gross Margin over 5 years is 21.17%, with a median of 22.17% recorded in 2023.
- The sharpest annual moves came in 2022 and 2025: Gross Margin jumped 10243 bps in 2022, then plunged 3562 bps in 2025.
- Over 5 years, Gross Margin stood at 3.44% in 2022, then jumped by 541 bps to 22.02% in 2023, then jumped by 66 bps to 36.62% in 2024, then plunged by 97 bps to 0.99% in 2025, then jumped by 2869 bps to 29.54% in 2026.
- The last three Gross Margin figures came in at 29.54% (Q2 2026), 31.6% (Q1 2026), and 0.99% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | EnerSys | 6.54 Bn | 6.01 Bn | 313.36 Mn | 33.49% |
| 2 | QuantumScape | 3.20 Bn | 3.20 Bn | - | - |
| 3 | Eos Energy Enterprises | 1.35 Bn | 1.00 Bn | -48.80 Mn | -70.96% |
| 4 | Fluence Energy | 1.34 Bn | 769.30 Mn | 33.24 Mn | 5.12% |
| 5 | Energy Vault Holdings | 752.49 Mn | 645.13 Mn | 5.38 Mn | 30.95% |
| 6 | Enovix | 689.37 Mn | 689.37 Mn | 1.30 Mn | 14.43% |
| 7 | Amprius Technologies | 436.15 Mn | 361.63 Mn | 9.28 Mn | 27.27% |
| 8 | Electrovaya | 257.13 Mn | 244.05 Mn | 6.19 Mn | 34.93% |
| 9 | Microvast Holdings | 215.82 Mn | 72.70 Mn | 25.78 Mn | 29.54% |
| 10 | Ses Ai | 176.50 Mn | 176.50 Mn | 1.15 Mn | 22.61% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 29.54% |
| 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% |