Microvast Holdings (MVST) Operating Margin (2020 - 2026)
Microvast Holdings (MVST) posted Operating Margin of 1.97% for Q2 2026, up 84.94% on a QoQ basis from 13.09% in Q1 2026, and down 1185.0% year-over-year from 0.18% in Q2 2025.
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Microvast Holdings (MVST) Operating Margin (2020 - 2026) Analysis & Trends
Microvast Holdings has reported Operating Margin for 7 years, with the latest figure at 1.97% in Q2 2026.
- On a quarterly basis, Operating Margin fell 1185.0% year-over-year to 1.97% in Q2 2026; TTM through Jun 2026 was 10.29%, a 1740.0% decrease from a year earlier, with the FY2025 full-year figure at 1.63%, up 3220.0% from the prior year.
- Operating Margin was 1.97% for Q2 2026 at Microvast Holdings, up from 13.09% in the prior quarter.
- The five-year high for Operating Margin was 13.1% in Q1 2025, with the low at 118.01% in Q2 2024.
- Average Operating Margin over 5 years is 36.59%, with a median of 30.65% recorded in 2023.
- The sharpest annual moves came in 2022 and 2024: Operating Margin jumped 21104 bps in 2022, then slumped 8216 bps in 2024.
- Over 5 years, Operating Margin stood at 53.44% in 2022, then jumped by 60 bps to 21.24% in 2023, then soared by 94 bps to 1.25% in 2024, then tumbled by 3316 bps to 42.69% in 2025, then soared by 95 bps to 1.97% in 2026.
- The last three Operating Margin figures came in at 1.97% (Q2 2026), 13.09% (Q1 2026), and 42.69% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | EnerSys | 6.54 Bn | 6.01 Bn | 313.36 Mn | 16.18% |
| 2 | QuantumScape | 3.20 Bn | 3.20 Bn | - | - |
| 3 | Eos Energy Enterprises | 1.35 Bn | 1.00 Bn | -48.80 Mn | -121.86% |
| 4 | Fluence Energy | 1.34 Bn | 769.30 Mn | 33.24 Mn | -4.58% |
| 5 | Energy Vault Holdings | 752.49 Mn | 645.13 Mn | 5.38 Mn | -141.97% |
| 6 | Enovix | 689.37 Mn | 689.37 Mn | 1.30 Mn | -479.79% |
| 7 | Amprius Technologies | 436.15 Mn | 361.63 Mn | 9.28 Mn | -12.63% |
| 8 | Electrovaya | 257.13 Mn | 244.05 Mn | 6.19 Mn | 4.45% |
| 9 | Microvast Holdings | 215.82 Mn | 72.70 Mn | 25.78 Mn | -1.97% |
| 10 | Ses Ai | 176.50 Mn | 176.50 Mn | 1.15 Mn | -378.47% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -1.97% |
| Mar 31, 2026 | -13.09% |
| Dec 31, 2025 | -42.69% |
| Sep 30, 2025 | 10.54% |
| Jun 30, 2025 | 9.88% |
| Mar 31, 2025 | 13.10% |
| Dec 31, 2024 | -1.25% |
| Sep 30, 2024 | 7.09% |
| Jun 30, 2024 | -118.01% |
| Mar 31, 2024 | -28.42% |
| Dec 31, 2023 | -21.24% |
| Sep 30, 2023 | -32.89% |
| Jun 30, 2023 | -35.84% |
| Mar 31, 2023 | -66.63% |
| Dec 31, 2022 | -53.44% |
| Sep 30, 2022 | -96.05% |
| Jun 30, 2022 | -69.82% |
| Mar 31, 2022 | -117.97% |
| Dec 31, 2021 | -71.28% |
| Sep 30, 2021 | -307.09% |