Microvast Holdings (MVST) Research & Development (2020 - 2026)
Microvast Holdings' Research & Development came in at $8.36 million for Q3 2026, up 7.8% from $7.76 million a year earlier but down 5.6% from the prior quarter.
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Analysis
Microvast Holdings (MVST) Research & Development (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Microvast Holdings reported Research & Development of $36.42 million, up 12.1% year-over-year; for FY2025, it was $34.11 million, down 16.9% from FY2024.
- Research & Development carries a five-year compound annual growth rate of 15.4% (FY2020 to FY2025).
- Going back by year, Research & Development was $41.07 million in FY2024 (-8.8%), $45 million in FY2023 (+3.4%), $43.51 million in FY2022 (+26.5%) and $34.39 million in FY2021 (+106.7%).
- The five-year range for quarterly Research & Development is $7.72 million (Q2 2025) to $13.24 million (Q3 2023).
- Year-over-year, Research & Development has increased for four consecutive quarters, with an average decline of 6.8% over the last eight quarters.
- The fastest year-over-year change in Research & Development over five years came in Q1 2022 (growth of 198.7%), and the weakest in Q1 2025 (a decline of 28.2%).
- Business Quant data shows MVST's Research & Development at $8.86 million (Q2 2026), $8.81 million (Q1 2026) and $10.39 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn | 358.00 Mn |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn | 64.15 Mn |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn | 67.22 Mn |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn | 45.57 Mn |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn | 3.83 Mn |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn | 63.83 Mn |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn | 32.20 Mn |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn | - |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn | 10.30 Mn |
| 10 | Microvast Holdings | 84.60 Mn | -359.15 Mn | 2.40 Mn | 8.36 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 8.36 Mn |
| Jun 30, 2026 | 8.86 Mn |
| Mar 31, 2026 | 8.81 Mn |
| Dec 31, 2025 | 10.39 Mn |
| Sep 30, 2025 | 7.76 Mn |
| Jun 30, 2025 | 7.72 Mn |
| Mar 31, 2025 | 8.25 Mn |
| Dec 31, 2024 | 8.77 Mn |
| Sep 30, 2024 | 10.69 Mn |
| Jun 30, 2024 | 10.11 Mn |
| Mar 31, 2024 | 11.49 Mn |
| Dec 31, 2023 | 11.40 Mn |
| Sep 30, 2023 | 13.24 Mn |
| Jun 30, 2023 | 9.51 Mn |
| Mar 31, 2023 | 10.86 Mn |
| Dec 31, 2022 | 10.50 Mn |
| Sep 30, 2022 | 11.46 Mn |
| Jun 30, 2022 | 10.24 Mn |
| Mar 31, 2022 | 11.31 Mn |
| Dec 31, 2021 | 11.19 Mn |
API Access
Microvast Holdings Research & Development 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=research-and-development&ticker=MVST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=MVST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();