Annual Income Statements for Microvast
This table shows Microvast's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Microvast
This table shows Microvast's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q1 2022 |
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
- |
-37 |
-34 |
-30 |
-26 |
-26 |
-25 |
-25 |
-102 |
13 |
-82 |
Consolidated Net Income / (Loss) |
|
- |
-37 |
-34 |
-30 |
-26 |
-26 |
-25 |
-25 |
-102 |
13 |
-82 |
Net Income / (Loss) Continuing Operations |
|
- |
-37 |
-34 |
-30 |
-26 |
-26 |
-25 |
-25 |
-102 |
13 |
-82 |
Total Pre-Tax Income |
|
- |
-37 |
-34 |
-30 |
-26 |
-26 |
-25 |
-25 |
-102 |
13 |
-82 |
Total Revenue |
|
- |
39 |
66 |
48 |
76 |
80 |
104 |
80 |
82 |
97 |
121 |
Net Interest Income / (Expense) |
|
- |
0.10 |
0.72 |
0.92 |
1.03 |
0.09 |
-1.06 |
-1.61 |
-1.85 |
-4.10 |
-1.40 |
Total Interest Income |
|
- |
0.87 |
1.58 |
1.38 |
1.52 |
0.58 |
0.13 |
0.12 |
0.25 |
0.19 |
0.19 |
Investment Securities Interest Income |
|
- |
0.87 |
1.58 |
1.38 |
1.52 |
0.58 |
0.13 |
0.12 |
0.25 |
0.19 |
0.19 |
Total Interest Expense |
|
- |
0.77 |
0.86 |
0.46 |
0.49 |
0.49 |
1.19 |
1.73 |
2.09 |
4.29 |
1.60 |
Long-Term Debt Interest Expense |
|
- |
0.77 |
0.86 |
0.46 |
0.49 |
0.49 |
1.19 |
1.73 |
2.09 |
4.29 |
1.60 |
Total Non-Interest Income |
|
- |
39 |
65 |
47 |
75 |
80 |
105 |
81 |
84 |
101 |
123 |
Other Non-Interest Income |
|
- |
39 |
65 |
47 |
75 |
80 |
105 |
81 |
84 |
101 |
113 |
Total Non-Interest Expense |
|
- |
75 |
100 |
77 |
102 |
106 |
127 |
105 |
183 |
84 |
204 |
Marketing Expense |
|
- |
17 |
16 |
16 |
15 |
19 |
18 |
17 |
15 |
16 |
16 |
Other Operating Expenses |
|
- |
59 |
82 |
63 |
87 |
87 |
109 |
88 |
80 |
80 |
94 |
Other Special Charges |
|
- |
-0.97 |
0.26 |
-0.88 |
-0.39 |
-0.53 |
-0.21 |
-0.44 |
0.23 |
-11 |
89 |
Basic Earnings per Share |
|
- |
($0.12) |
($0.10) |
($0.10) |
($0.08) |
($0.08) |
($0.08) |
($0.08) |
($0.32) |
$0.04 |
($0.25) |
Weighted Average Basic Shares Outstanding |
|
- |
305.98M |
303.28M |
307.71M |
307.74M |
313.11M |
310.91M |
315.37M |
315.51M |
320.55M |
318.46M |
Diluted Earnings per Share |
|
- |
($0.12) |
($0.10) |
($0.10) |
($0.08) |
($0.08) |
($0.08) |
($0.08) |
($0.32) |
$0.03 |
($0.24) |
Weighted Average Diluted Shares Outstanding |
|
- |
305.98M |
303.28M |
307.71M |
307.74M |
313.11M |
310.91M |
315.37M |
315.51M |
367.03M |
318.46M |
Weighted Average Basic & Diluted Shares Outstanding |
|
- |
309.29M |
309.41M |
309.43M |
316.31M |
316.53M |
317.21M |
317.20M |
323.82M |
323.82M |
325.21M |
Annual Cash Flow Statements for Microvast
This table details how cash moves in and out of Microvast's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
-233 |
-214 |
21 |
Net Cash From Operating Activities |
-54 |
-75 |
2.81 |
Net Cash From Continuing Operating Activities |
-54 |
-75 |
2.81 |
Net Income / (Loss) Continuing Operations |
-158 |
-106 |
-195 |
Consolidated Net Income / (Loss) |
-158 |
-106 |
-195 |
Provision For Loan Losses |
1.64 |
0.24 |
3.74 |
Depreciation Expense |
20 |
22 |
30 |
Amortization Expense |
0.55 |
0.79 |
0.78 |
Non-Cash Adjustments to Reconcile Net Income |
113 |
86 |
216 |
Changes in Operating Assets and Liabilities, net |
-30 |
-78 |
-53 |
Net Cash From Investing Activities |
-176 |
-166 |
-12 |
Net Cash From Continuing Investing Activities |
-176 |
-166 |
-12 |
Purchase of Property, Leasehold Improvements and Equipment |
-151 |
-187 |
-28 |
Purchase of Investment Securities |
-25 |
-5.97 |
0.00 |
Sale of Property, Leasehold Improvements and Equipment |
0.01 |
1.65 |
10 |
Sale and/or Maturity of Investments |
0.00 |
26 |
5.56 |
Net Cash From Financing Activities |
4.97 |
33 |
38 |
Net Cash From Continuing Financing Activities |
4.97 |
33 |
38 |
Issuance of Debt |
59 |
48 |
127 |
Repayment of Debt |
-54 |
-15 |
-67 |
Other Financing Activities, Net |
0.00 |
0.00 |
-22 |
Effect of Exchange Rate Changes |
-8.59 |
-6.56 |
-6.84 |
Cash Interest Paid |
5.14 |
4.37 |
7.44 |
Cash Income Taxes Paid |
0.00 |
0.00 |
0.00 |
Quarterly Cash Flow Statements for Microvast
This table details how cash moves in and out of Microvast's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q1 2022 |
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
- |
19 |
-113 |
-42 |
-90 |
-81 |
-1.02 |
-1.49 |
18 |
10 |
-5.37 |
Net Cash From Operating Activities |
|
- |
4.94 |
4.67 |
-11 |
-30 |
-29 |
-4.95 |
2.03 |
0.11 |
-5.43 |
6.10 |
Net Cash From Continuing Operating Activities |
|
- |
4.94 |
4.67 |
-11 |
-30 |
-29 |
-4.95 |
2.03 |
0.11 |
-5.43 |
6.10 |
Net Income / (Loss) Continuing Operations |
|
- |
-37 |
-34 |
-30 |
-26 |
-26 |
-25 |
-25 |
-102 |
-9.87 |
-82 |
Consolidated Net Income / (Loss) |
|
- |
-37 |
-34 |
-30 |
-26 |
-26 |
-25 |
-25 |
-102 |
-9.87 |
-82 |
Provision For Loan Losses |
|
- |
1.19 |
-1.85 |
-1.09 |
0.26 |
-0.21 |
1.27 |
0.58 |
0.18 |
-0.99 |
3.98 |
Depreciation Expense |
|
- |
4.78 |
4.65 |
4.89 |
4.91 |
4.85 |
7.50 |
7.47 |
7.44 |
7.53 |
7.62 |
Amortization Expense |
|
- |
0.14 |
0.13 |
0.21 |
0.19 |
0.19 |
0.19 |
0.19 |
0.19 |
0.19 |
0.19 |
Non-Cash Adjustments to Reconcile Net Income |
|
- |
23 |
29 |
22 |
23 |
21 |
21 |
16 |
108 |
35 |
81 |
Changes in Operating Assets and Liabilities, net |
|
- |
13 |
6.20 |
-7.52 |
-32 |
-29 |
-11 |
2.89 |
-14 |
-37 |
-4.29 |
Net Cash From Investing Activities |
|
- |
-17 |
-91 |
-36 |
-58 |
-60 |
-12 |
-4.53 |
-2.92 |
-4.53 |
-0.18 |
Net Cash From Continuing Investing Activities |
|
- |
-17 |
-91 |
-36 |
-58 |
-60 |
-12 |
-4.53 |
-2.92 |
-4.53 |
-0.18 |
Purchase of Property, Leasehold Improvements and Equipment |
|
- |
-17 |
-66 |
-36 |
-58 |
-60 |
-33 |
-10 |
-2.95 |
-14 |
-0.36 |
Sale of Property, Leasehold Improvements and Equipment |
|
- |
- |
- |
0.34 |
0.31 |
0.23 |
0.77 |
0.15 |
0.03 |
9.65 |
0.18 |
Net Cash From Financing Activities |
|
- |
38 |
-29 |
4.38 |
0.91 |
6.86 |
21 |
6.26 |
22 |
18 |
-9.05 |
Net Cash From Continuing Financing Activities |
|
- |
38 |
-29 |
4.38 |
0.91 |
6.86 |
21 |
6.26 |
22 |
18 |
-9.05 |
Issuance of Debt |
|
- |
45 |
- |
4.38 |
4.85 |
9.21 |
29 |
19 |
34 |
43 |
31 |
Repayment of Debt |
|
- |
-7.15 |
-29 |
0.00 |
-3.94 |
-2.35 |
-8.53 |
-13 |
-11 |
-8.38 |
-34 |
Other Financing Activities, Net |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
-5.77 |
Effect of Exchange Rate Changes |
|
- |
-7.46 |
2.74 |
0.47 |
-3.65 |
1.09 |
-4.47 |
-5.25 |
-1.64 |
2.30 |
-2.24 |
Annual Balance Sheets for Microvast
This table presents Microvast's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
985 |
1,097 |
952 |
Cash and Due from Banks |
231 |
45 |
73 |
Restricted Cash |
71 |
44 |
37 |
Loans and Leases, Net of Allowance |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
348 |
633 |
490 |
Intangible Assets |
1.64 |
3.14 |
2.61 |
Other Assets |
333 |
373 |
350 |
Total Liabilities & Shareholders' Equity |
985 |
1,097 |
952 |
Total Liabilities |
372 |
533 |
564 |
Short-Term Debt |
131 |
254 |
231 |
Accrued Interest Payable |
67 |
149 |
99 |
Other Short-Term Payables |
54 |
0.00 |
0.01 |
Long-Term Debt |
73 |
87 |
189 |
Other Long-Term Liabilities |
47 |
42 |
45 |
Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
613 |
564 |
388 |
Total Preferred & Common Equity |
613 |
564 |
388 |
Total Common Equity |
613 |
564 |
388 |
Common Stock |
1,416 |
1,481 |
1,513 |
Retained Earnings |
-791 |
-898 |
-1,093 |
Accumulated Other Comprehensive Income / (Loss) |
-18 |
-26 |
-38 |
Other Equity Adjustments |
6.03 |
6.03 |
6.03 |
Quarterly Balance Sheets for Microvast
This table presents Microvast's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q2 2021 |
Q3 2021 |
Q4 2021 |
Q1 2022 |
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
282 |
990 |
- |
999 |
973 |
1,004 |
998 |
1,017 |
1,041 |
961 |
998 |
Cash and Due from Banks |
|
0.07 |
573 |
- |
416 |
296 |
200 |
143 |
67 |
39 |
68 |
64 |
Restricted Cash |
|
282 |
40 |
- |
55 |
83 |
60 |
28 |
22 |
45 |
35 |
40 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
|
- |
237 |
- |
285 |
299 |
456 |
510 |
561 |
628 |
508 |
516 |
Intangible Assets |
|
- |
2.02 |
- |
1.82 |
1.70 |
3.69 |
3.34 |
3.21 |
2.99 |
2.85 |
2.79 |
Other Assets |
|
0.04 |
139 |
- |
241 |
294 |
284 |
314 |
363 |
325 |
348 |
375 |
Total Liabilities & Shareholders' Equity |
|
282 |
990 |
- |
999 |
973 |
1,004 |
998 |
1,017 |
1,041 |
961 |
998 |
Total Liabilities |
|
6.67 |
274 |
- |
341 |
357 |
398 |
418 |
449 |
495 |
506 |
512 |
Short-Term Debt |
|
0.00 |
103 |
- |
117 |
116 |
131 |
123 |
159 |
187 |
188 |
188 |
Accrued Interest Payable |
|
- |
- |
- |
61 |
80 |
94 |
117 |
122 |
138 |
143 |
105 |
Other Short-Term Payables |
|
0.80 |
50 |
- |
3.60 |
36 |
53 |
53 |
54 |
41 |
41 |
43 |
Long-Term Debt |
|
1.69 |
73 |
- |
73 |
82 |
73 |
75 |
75 |
86 |
91 |
121 |
Other Long-Term Liabilities |
|
4.18 |
47 |
- |
87 |
43 |
47 |
50 |
38 |
42 |
43 |
55 |
Commitments & Contingencies |
|
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
-6.47 |
717 |
- |
657 |
616 |
606 |
580 |
567 |
546 |
455 |
486 |
Total Preferred & Common Equity |
|
-6.47 |
717 |
- |
657 |
616 |
604 |
578 |
565 |
546 |
455 |
486 |
Total Common Equity |
|
-6.47 |
717 |
- |
657 |
616 |
604 |
578 |
565 |
546 |
455 |
486 |
Common Stock |
|
0.00 |
1,291 |
- |
1,320 |
1,398 |
1,434 |
1,452 |
1,468 |
1,493 |
1,506 |
1,512 |
Retained Earnings |
|
-6.48 |
-585 |
- |
-677 |
-757 |
-821 |
-847 |
-873 |
-922 |
-1,024 |
-1,011 |
Accumulated Other Comprehensive Income / (Loss) |
|
- |
4.98 |
- |
7.69 |
-31 |
-16 |
-34 |
-36 |
-31 |
-33 |
-22 |
Other Equity Adjustments |
|
- |
6.03 |
- |
6.03 |
6.03 |
6.03 |
6.03 |
6.03 |
6.03 |
6.03 |
6.03 |
Annual Metrics And Ratios for Microvast
This table displays calculated financial ratios and metrics derived from Microvast's official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
33.44% |
50.52% |
23.62% |
EBITDA Growth |
25.29% |
40.35% |
-99.10% |
EBIT Growth |
22.92% |
33.58% |
-85.08% |
NOPAT Growth |
23.40% |
32.73% |
-83.70% |
Net Income Growth |
23.38% |
32.74% |
-83.68% |
EPS Growth |
58.73% |
34.62% |
-79.41% |
Operating Cash Flow Growth |
-19.74% |
-39.64% |
103.74% |
Free Cash Flow Firm Growth |
93.47% |
-208.86% |
76.12% |
Invested Capital Growth |
-6.61% |
10.88% |
-10.80% |
Revenue Q/Q Growth |
-6.38% |
13.39% |
4.93% |
EBITDA Q/Q Growth |
7.49% |
13.94% |
-96.13% |
EBIT Q/Q Growth |
7.16% |
9.04% |
-70.50% |
NOPAT Q/Q Growth |
7.76% |
7.87% |
-70.56% |
Net Income Q/Q Growth |
7.56% |
7.88% |
-70.54% |
EPS Q/Q Growth |
-4.00% |
5.56% |
-60.53% |
Operating Cash Flow Q/Q Growth |
31.72% |
-14.65% |
134.15% |
Free Cash Flow Firm Q/Q Growth |
-28.83% |
-139.63% |
47.19% |
Invested Capital Q/Q Growth |
0.31% |
12.98% |
1.59% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
-67.90% |
-26.91% |
-43.34% |
EBIT Margin |
-77.86% |
-34.36% |
-51.44% |
Profit (Net Income) Margin |
-77.42% |
-34.59% |
-51.40% |
Tax Burden Percent |
100.02% |
100.01% |
100.00% |
Interest Burden Percent |
99.41% |
100.67% |
99.92% |
Effective Tax Rate |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
-13.09% |
-8.65% |
-15.97% |
ROIC Less NNEP Spread (ROIC-NNEP) |
-37.35% |
-20.36% |
-31.38% |
Return on Net Nonoperating Assets (RNNOA) |
-11.25% |
-9.43% |
-25.09% |
Return on Equity (ROE) |
-24.34% |
-18.08% |
-41.06% |
Cash Return on Invested Capital (CROIC) |
-6.26% |
-18.97% |
-4.55% |
Operating Return on Assets (OROA) |
-16.07% |
-10.15% |
-19.10% |
Return on Assets (ROA) |
-15.98% |
-10.22% |
-19.08% |
Return on Common Equity (ROCE) |
-24.34% |
-18.08% |
-41.06% |
Return on Equity Simple (ROE_SIMPLE) |
-25.81% |
-18.86% |
-50.39% |
Net Operating Profit after Tax (NOPAT) |
-111 |
-74 |
-137 |
NOPAT Margin |
-54.18% |
-24.21% |
-35.98% |
Net Nonoperating Expense Percent (NNEP) |
24.26% |
11.72% |
15.41% |
SG&A Expenses to Revenue |
32.36% |
22.31% |
16.74% |
Operating Expenses to Revenue |
177.86% |
134.36% |
151.44% |
Earnings before Interest and Taxes (EBIT) |
-159 |
-106 |
-196 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
-139 |
-83 |
-165 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
0.77 |
0.79 |
1.73 |
Price to Tangible Book Value (P/TBV) |
0.77 |
0.79 |
1.74 |
Price to Revenue (P/Rev) |
2.32 |
1.44 |
1.76 |
Price to Earnings (P/E) |
0.00 |
0.00 |
0.00 |
Dividend Yield |
0.00% |
0.00% |
0.00% |
Earnings Yield |
0.00% |
0.00% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
0.46 |
0.77 |
1.21 |
Enterprise Value to Revenue (EV/Rev) |
1.83 |
2.26 |
2.58 |
Enterprise Value to EBITDA (EV/EBITDA) |
0.00 |
0.00 |
0.00 |
Enterprise Value to EBIT (EV/EBIT) |
0.00 |
0.00 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
0.00 |
0.00 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
0.00 |
0.00 |
348.46 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
0.33 |
0.61 |
1.08 |
Long-Term Debt to Equity |
0.12 |
0.15 |
0.49 |
Financial Leverage |
0.30 |
0.46 |
0.80 |
Leverage Ratio |
1.52 |
1.77 |
2.15 |
Compound Leverage Factor |
1.51 |
1.78 |
2.15 |
Debt to Total Capital |
24.94% |
37.70% |
51.98% |
Short-Term Debt to Total Capital |
16.02% |
28.10% |
28.60% |
Long-Term Debt to Total Capital |
8.92% |
9.60% |
23.38% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
75.06% |
62.30% |
48.02% |
Debt to EBITDA |
-1.47 |
-4.13 |
-2.55 |
Net Debt to EBITDA |
0.71 |
-3.06 |
-1.88 |
Long-Term Debt to EBITDA |
-0.53 |
-1.05 |
-1.15 |
Debt to NOPAT |
-1.84 |
-4.58 |
-3.07 |
Net Debt to NOPAT |
0.89 |
-3.40 |
-2.27 |
Long-Term Debt to NOPAT |
-0.66 |
-1.17 |
-1.38 |
Noncontrolling Interest Sharing Ratio |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
-53 |
-163 |
-39 |
Operating Cash Flow to CapEx |
-35.74% |
-40.67% |
15.88% |
Free Cash Flow to Firm to Interest Expense |
-15.92 |
-62.17 |
-4.02 |
Operating Cash Flow to Interest Expense |
-16.23 |
-28.65 |
0.29 |
Operating Cash Flow Less CapEx to Interest Expense |
-61.63 |
-99.10 |
-1.53 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.21 |
0.30 |
0.37 |
Fixed Asset Turnover |
0.66 |
0.63 |
0.68 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
817 |
906 |
808 |
Invested Capital Turnover |
0.24 |
0.36 |
0.44 |
Increase / (Decrease) in Invested Capital |
-58 |
89 |
-98 |
Enterprise Value (EV) |
375 |
696 |
981 |
Market Capitalization |
473 |
443 |
670 |
Book Value per Share |
$1.98 |
$1.78 |
$1.20 |
Tangible Book Value per Share |
$1.98 |
$1.77 |
$1.19 |
Total Capital |
817 |
906 |
808 |
Total Debt |
204 |
341 |
420 |
Total Long-Term Debt |
73 |
87 |
189 |
Net Debt |
-98 |
253 |
310 |
Capital Expenditures (CapEx) |
151 |
185 |
18 |
Net Nonoperating Expense (NNE) |
47 |
32 |
59 |
Net Nonoperating Obligations (NNO) |
204 |
341 |
420 |
Total Depreciation and Amortization (D&A) |
20 |
23 |
31 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
($0.52) |
($0.34) |
($0.61) |
Adjusted Weighted Average Basic Shares Outstanding |
303.28M |
310.91M |
318.46M |
Adjusted Diluted Earnings per Share |
($0.52) |
($0.34) |
($0.61) |
Adjusted Weighted Average Diluted Shares Outstanding |
303.28M |
310.91M |
318.46M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
309.41M |
317.21M |
325.21M |
Normalized Net Operating Profit after Tax (NOPAT) |
-111 |
-76 |
-17 |
Normalized NOPAT Margin |
-54.47% |
-24.56% |
-4.60% |
Pre Tax Income Margin |
-77.40% |
-34.59% |
-51.40% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
-47.88 |
-40.22 |
-20.14 |
NOPAT to Interest Expense |
-33.32 |
-28.34 |
-14.09 |
EBIT Less CapEx to Interest Expense |
-93.29 |
-110.67 |
-21.97 |
NOPAT Less CapEx to Interest Expense |
-78.72 |
-98.79 |
-15.91 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
0.00% |
0.00% |
0.00% |
Augmented Payout Ratio |
0.00% |
0.00% |
0.00% |
Quarterly Metrics And Ratios for Microvast
This table displays calculated financial ratios and metrics derived from Microvast's official financial filings.
Metric |
|
Q1 2022 |
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
- |
16.35% |
-17.54% |
32.36% |
18.84% |
107.19% |
58.00% |
66.49% |
7.69% |
21.29% |
17.27% |
EBITDA Growth |
|
- |
71.59% |
27.36% |
36.14% |
46.17% |
33.18% |
45.76% |
29.88% |
-347.69% |
199.24% |
-361.61% |
EBIT Growth |
|
- |
68.59% |
26.17% |
32.45% |
40.98% |
28.38% |
31.04% |
16.05% |
-289.43% |
150.62% |
-245.56% |
NOPAT Growth |
|
- |
68.60% |
28.32% |
32.45% |
40.98% |
28.38% |
26.98% |
16.05% |
-289.43% |
172.31% |
-234.91% |
Net Income Growth |
|
- |
68.63% |
27.75% |
32.45% |
40.98% |
28.38% |
27.03% |
16.05% |
-289.43% |
150.62% |
-234.77% |
EPS Growth |
|
- |
75.51% |
-25.00% |
33.33% |
46.67% |
33.33% |
20.00% |
20.00% |
-300.00% |
137.50% |
-200.00% |
Operating Cash Flow Growth |
|
- |
151.31% |
122.89% |
55.18% |
22.73% |
-693.97% |
-206.13% |
118.19% |
100.37% |
81.50% |
223.18% |
Free Cash Flow Firm Growth |
|
- |
107.71% |
104.91% |
102.80% |
109.45% |
-110.60% |
-409.73% |
-263.55% |
-148.60% |
446.47% |
137.88% |
Invested Capital Growth |
|
- |
-8.84% |
-6.61% |
-4.42% |
-8.87% |
-1.56% |
10.88% |
1.24% |
-5.56% |
-0.79% |
-10.80% |
Revenue Q/Q Growth |
|
- |
-39.45% |
69.23% |
-28.71% |
58.65% |
5.56% |
29.06% |
-22.97% |
2.62% |
18.89% |
24.78% |
EBITDA Q/Q Growth |
|
- |
18.86% |
5.69% |
17.94% |
14.28% |
-1.91% |
23.45% |
-4.52% |
-447.29% |
129.37% |
-456.06% |
EBIT Q/Q Growth |
|
- |
17.29% |
5.30% |
14.56% |
11.81% |
-1.30% |
8.80% |
-2.96% |
-309.09% |
116.76% |
-722.62% |
NOPAT Q/Q Growth |
|
- |
17.29% |
7.88% |
12.16% |
11.81% |
-0.36% |
6.08% |
-0.99% |
-309.09% |
124.13% |
-535.01% |
Net Income Q/Q Growth |
|
- |
17.29% |
7.79% |
12.25% |
11.81% |
-0.36% |
6.04% |
-0.95% |
-309.09% |
116.89% |
-721.45% |
EPS Q/Q Growth |
|
- |
20.00% |
16.67% |
0.00% |
20.00% |
0.00% |
0.00% |
0.00% |
-300.00% |
112.00% |
-900.00% |
Operating Cash Flow Q/Q Growth |
|
- |
112.79% |
-5.53% |
-339.25% |
-167.26% |
1.68% |
83.12% |
141.01% |
-94.53% |
-4,990.99% |
212.38% |
Free Cash Flow Firm Q/Q Growth |
|
- |
108.80% |
-35.84% |
-51.01% |
241.85% |
-109.87% |
-1,774.75% |
56.45% |
-1.59% |
156.32% |
104.95% |
Invested Capital Q/Q Growth |
|
- |
-4.53% |
0.31% |
-0.85% |
-4.02% |
3.13% |
12.98% |
-4.95% |
-10.47% |
5.03% |
1.59% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
- |
-81.69% |
-45.52% |
-51.10% |
-27.61% |
-26.35% |
-15.63% |
-21.52% |
-114.78% |
21.56% |
-61.51% |
EBIT Margin |
|
- |
-94.40% |
-52.83% |
-61.74% |
-34.32% |
-32.63% |
-23.06% |
-31.13% |
-124.11% |
13.62% |
-67.95% |
Profit (Net Income) Margin |
|
- |
-94.40% |
-51.44% |
-61.74% |
-34.32% |
-32.63% |
-23.76% |
-31.13% |
-124.11% |
13.62% |
-67.82% |
Tax Burden Percent |
|
- |
100.00% |
100.10% |
100.00% |
100.00% |
100.00% |
100.04% |
100.00% |
100.00% |
100.00% |
100.00% |
Interest Burden Percent |
|
- |
100.00% |
97.27% |
100.00% |
100.00% |
100.00% |
102.99% |
100.00% |
100.00% |
100.00% |
99.81% |
Effective Tax Rate |
|
- |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
|
- |
-16.90% |
-8.69% |
-11.36% |
-6.77% |
-7.67% |
-5.94% |
-9.08% |
-39.70% |
6.18% |
-21.07% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
- |
-22.75% |
-13.87% |
-15.86% |
-10.72% |
-11.30% |
-8.65% |
-12.20% |
-52.49% |
6.18% |
-27.56% |
Return on Net Nonoperating Assets (RNNOA) |
|
- |
-6.40% |
-4.18% |
-4.94% |
-3.44% |
-4.13% |
-4.00% |
-5.06% |
-24.17% |
3.19% |
-22.04% |
Return on Equity (ROE) |
|
- |
-23.29% |
-12.87% |
-16.30% |
-10.22% |
-11.80% |
-9.94% |
-14.14% |
-63.87% |
9.37% |
-43.11% |
Cash Return on Invested Capital (CROIC) |
|
- |
-4.81% |
-6.26% |
-7.64% |
-1.53% |
-8.44% |
-18.97% |
-9.97% |
-10.69% |
-9.25% |
-4.55% |
Operating Return on Assets (OROA) |
|
- |
-20.99% |
-10.90% |
-13.43% |
-8.01% |
-8.90% |
-6.81% |
-10.34% |
-43.75% |
4.90% |
-25.22% |
Return on Assets (ROA) |
|
- |
-20.99% |
-10.62% |
-13.43% |
-8.01% |
-8.90% |
-7.02% |
-10.34% |
-43.75% |
4.90% |
-25.18% |
Return on Common Equity (ROCE) |
|
- |
-23.29% |
-12.87% |
-16.28% |
-10.20% |
-11.78% |
-9.94% |
-14.11% |
-63.75% |
9.35% |
-43.11% |
Return on Equity Simple (ROE_SIMPLE) |
|
- |
-27.79% |
0.00% |
-23.85% |
-21.79% |
-20.43% |
0.00% |
-18.62% |
-38.93% |
-23.58% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
- |
-26 |
-24 |
-21 |
-18 |
-18 |
-17 |
-17 |
-71 |
13 |
-58 |
NOPAT Margin |
|
- |
-66.08% |
-35.97% |
-43.22% |
-24.02% |
-22.84% |
-16.62% |
-21.79% |
-86.88% |
13.62% |
-47.47% |
Net Nonoperating Expense Percent (NNEP) |
|
- |
5.85% |
5.18% |
4.51% |
3.95% |
3.63% |
2.71% |
3.12% |
12.79% |
0.00% |
6.49% |
SG&A Expenses to Revenue |
|
- |
43.96% |
24.03% |
33.09% |
20.27% |
24.03% |
17.48% |
21.42% |
18.49% |
16.09% |
12.99% |
Operating Expenses to Revenue |
|
- |
194.40% |
152.83% |
161.74% |
134.32% |
132.63% |
123.06% |
131.13% |
224.11% |
86.38% |
167.95% |
Earnings before Interest and Taxes (EBIT) |
|
- |
-37 |
-35 |
-30 |
-26 |
-26 |
-24 |
-25 |
-102 |
13 |
-82 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
- |
-32 |
-30 |
-24 |
-21 |
-21 |
-16 |
-17 |
-94 |
21 |
-75 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
- |
0.89 |
0.77 |
0.64 |
0.86 |
1.06 |
0.79 |
0.49 |
0.32 |
0.17 |
1.73 |
Price to Tangible Book Value (P/TBV) |
|
- |
0.89 |
0.77 |
0.64 |
0.86 |
1.06 |
0.79 |
0.49 |
0.32 |
0.17 |
1.74 |
Price to Revenue (P/Rev) |
|
- |
2.51 |
2.32 |
1.76 |
2.15 |
2.20 |
1.44 |
0.78 |
0.42 |
0.22 |
1.76 |
Price to Earnings (P/E) |
|
- |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Dividend Yield |
|
- |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Earnings Yield |
|
- |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
|
- |
0.45 |
0.46 |
0.41 |
0.67 |
0.93 |
0.77 |
0.55 |
0.44 |
0.36 |
1.21 |
Enterprise Value to Revenue (EV/Rev) |
|
- |
1.68 |
1.83 |
1.51 |
2.28 |
2.75 |
2.26 |
1.34 |
0.93 |
0.79 |
2.58 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
- |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Enterprise Value to EBIT (EV/EBIT) |
|
- |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
- |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
- |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
348.46 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
- |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
- |
0.32 |
0.33 |
0.34 |
0.34 |
0.41 |
0.61 |
0.50 |
0.61 |
0.64 |
1.08 |
Long-Term Debt to Equity |
|
- |
0.13 |
0.12 |
0.12 |
0.13 |
0.13 |
0.15 |
0.16 |
0.20 |
0.25 |
0.49 |
Financial Leverage |
|
- |
0.28 |
0.30 |
0.31 |
0.32 |
0.37 |
0.46 |
0.41 |
0.46 |
0.52 |
0.80 |
Leverage Ratio |
|
- |
1.47 |
1.52 |
1.59 |
1.60 |
1.68 |
1.77 |
1.77 |
1.89 |
1.91 |
2.15 |
Compound Leverage Factor |
|
- |
1.47 |
1.48 |
1.59 |
1.60 |
1.68 |
1.82 |
1.77 |
1.89 |
1.91 |
2.15 |
Debt to Total Capital |
|
- |
24.36% |
24.94% |
25.18% |
25.41% |
29.22% |
37.70% |
33.38% |
38.01% |
38.87% |
51.98% |
Short-Term Debt to Total Capital |
|
- |
14.31% |
16.02% |
16.16% |
15.77% |
19.89% |
28.10% |
22.87% |
25.66% |
23.65% |
28.60% |
Long-Term Debt to Total Capital |
|
- |
10.05% |
8.92% |
9.02% |
9.64% |
9.32% |
9.60% |
10.51% |
12.35% |
15.21% |
23.38% |
Preferred Equity to Total Capital |
|
- |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
- |
0.00% |
0.00% |
0.27% |
0.26% |
0.25% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
- |
75.64% |
75.06% |
74.55% |
74.33% |
70.54% |
62.30% |
66.62% |
61.99% |
61.13% |
48.02% |
Debt to EBITDA |
|
- |
-1.32 |
-1.47 |
-1.63 |
-1.85 |
-2.44 |
-4.13 |
-3.63 |
-1.88 |
-3.68 |
-2.55 |
Net Debt to EBITDA |
|
- |
1.20 |
0.71 |
0.45 |
-0.25 |
-1.51 |
-3.06 |
-2.51 |
-1.19 |
-2.44 |
-1.88 |
Long-Term Debt to EBITDA |
|
- |
-0.55 |
-0.53 |
-0.58 |
-0.70 |
-0.78 |
-1.05 |
-1.14 |
-0.61 |
-1.44 |
-1.15 |
Debt to NOPAT |
|
- |
-1.65 |
-1.84 |
-2.02 |
-2.24 |
-2.90 |
-4.58 |
-3.85 |
-2.25 |
-3.85 |
-3.07 |
Net Debt to NOPAT |
|
- |
1.51 |
0.89 |
0.56 |
-0.31 |
-1.79 |
-3.40 |
-2.66 |
-1.42 |
-2.56 |
-2.27 |
Long-Term Debt to NOPAT |
|
- |
-0.68 |
-0.66 |
-0.72 |
-0.85 |
-0.92 |
-1.17 |
-1.21 |
-0.73 |
-1.51 |
-1.38 |
Noncontrolling Interest Sharing Ratio |
|
- |
0.00% |
0.00% |
0.17% |
0.17% |
0.17% |
0.00% |
0.19% |
0.20% |
0.19% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
- |
53 |
34 |
17 |
57 |
-5.66 |
-106 |
-27 |
-28 |
20 |
40 |
Operating Cash Flow to CapEx |
|
- |
29.39% |
7.05% |
-31.38% |
-51.99% |
-49.14% |
-15.27% |
20.13% |
3.81% |
-119.85% |
3,389.44% |
Free Cash Flow to Firm to Interest Expense |
|
- |
68.98 |
39.92 |
36.56 |
117.79 |
-11.53 |
-89.08 |
-15.85 |
-13.31 |
4.57 |
25.19 |
Operating Cash Flow to Interest Expense |
|
- |
6.38 |
5.44 |
-24.33 |
-61.28 |
-59.76 |
-4.16 |
1.17 |
0.05 |
-1.27 |
3.83 |
Operating Cash Flow Less CapEx to Interest Expense |
|
- |
-15.33 |
-71.67 |
-101.85 |
-179.14 |
-181.37 |
-31.40 |
-4.65 |
-1.34 |
-2.32 |
3.71 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
- |
0.22 |
0.21 |
0.22 |
0.23 |
0.27 |
0.30 |
0.33 |
0.35 |
0.36 |
0.37 |
Fixed Asset Turnover |
|
- |
0.82 |
0.66 |
0.59 |
0.56 |
0.63 |
0.63 |
0.63 |
0.68 |
0.67 |
0.68 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
- |
814 |
817 |
810 |
777 |
802 |
906 |
820 |
734 |
795 |
808 |
Invested Capital Turnover |
|
- |
0.26 |
0.24 |
0.26 |
0.28 |
0.34 |
0.36 |
0.42 |
0.46 |
0.45 |
0.44 |
Increase / (Decrease) in Invested Capital |
|
- |
-79 |
-58 |
-37 |
-76 |
-13 |
89 |
10 |
-43 |
-6.36 |
-98 |
Enterprise Value (EV) |
|
- |
367 |
375 |
329 |
524 |
745 |
696 |
454 |
321 |
286 |
981 |
Market Capitalization |
|
- |
548 |
473 |
384 |
495 |
598 |
443 |
265 |
145 |
81 |
670 |
Book Value per Share |
|
- |
$2.04 |
$1.98 |
$1.95 |
$1.87 |
$1.79 |
$1.78 |
$1.73 |
$1.43 |
$1.50 |
$1.20 |
Tangible Book Value per Share |
|
- |
$2.03 |
$1.98 |
$1.94 |
$1.86 |
$1.78 |
$1.77 |
$1.72 |
$1.43 |
$1.49 |
$1.19 |
Total Capital |
|
- |
814 |
817 |
810 |
777 |
802 |
906 |
820 |
734 |
795 |
808 |
Total Debt |
|
- |
198 |
204 |
204 |
197 |
234 |
341 |
274 |
279 |
309 |
420 |
Total Long-Term Debt |
|
- |
82 |
73 |
73 |
75 |
75 |
87 |
86 |
91 |
121 |
189 |
Net Debt |
|
- |
-181 |
-98 |
-57 |
27 |
145 |
253 |
190 |
176 |
205 |
310 |
Capital Expenditures (CapEx) |
|
- |
17 |
66 |
36 |
57 |
60 |
32 |
10 |
2.92 |
4.53 |
0.18 |
Net Nonoperating Expense (NNE) |
|
- |
11 |
10 |
8.87 |
7.82 |
7.85 |
7.38 |
7.45 |
30 |
0.00 |
25 |
Net Nonoperating Obligations (NNO) |
|
- |
198 |
204 |
204 |
197 |
234 |
341 |
274 |
279 |
309 |
420 |
Total Depreciation and Amortization (D&A) |
|
- |
4.92 |
4.78 |
5.10 |
5.10 |
5.04 |
7.69 |
7.66 |
7.64 |
7.72 |
7.81 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
- |
($0.12) |
($0.10) |
($0.10) |
($0.08) |
($0.08) |
($0.08) |
($0.08) |
($0.32) |
$0.04 |
($0.25) |
Adjusted Weighted Average Basic Shares Outstanding |
|
- |
305.98M |
303.28M |
307.71M |
307.74M |
313.11M |
310.91M |
315.37M |
315.51M |
320.55M |
318.46M |
Adjusted Diluted Earnings per Share |
|
- |
($0.12) |
($0.10) |
($0.10) |
($0.08) |
($0.08) |
($0.08) |
($0.08) |
($0.32) |
$0.03 |
($0.24) |
Adjusted Weighted Average Diluted Shares Outstanding |
|
- |
305.98M |
303.28M |
307.71M |
307.74M |
313.11M |
310.91M |
315.37M |
315.51M |
367.03M |
318.46M |
Adjusted Basic & Diluted Earnings per Share |
|
- |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
- |
309.29M |
309.41M |
309.43M |
316.31M |
316.53M |
317.21M |
317.20M |
323.82M |
323.82M |
325.21M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
- |
-26 |
-23 |
-21 |
-18 |
-18 |
-17 |
-18 |
-9.31 |
1.41 |
4.50 |
Normalized NOPAT Margin |
|
- |
-67.83% |
-35.69% |
-44.51% |
-24.34% |
-22.93% |
-16.76% |
-22.18% |
-11.38% |
1.45% |
3.71% |
Pre Tax Income Margin |
|
- |
-94.40% |
-51.39% |
-61.74% |
-34.32% |
-32.63% |
-23.75% |
-31.13% |
-124.11% |
13.62% |
-67.82% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
- |
-47.21 |
-40.34 |
-64.42 |
-53.55 |
-53.30 |
-20.04 |
-14.33 |
-48.50 |
3.09 |
-51.71 |
NOPAT to Interest Expense |
|
- |
-33.05 |
-27.47 |
-45.10 |
-37.48 |
-37.31 |
-14.45 |
-10.03 |
-33.95 |
3.09 |
-36.13 |
EBIT Less CapEx to Interest Expense |
|
- |
-68.93 |
-117.44 |
-141.95 |
-171.41 |
-174.92 |
-47.28 |
-20.16 |
-49.89 |
2.03 |
-51.82 |
NOPAT Less CapEx to Interest Expense |
|
- |
-54.76 |
-104.57 |
-122.62 |
-155.35 |
-158.93 |
-41.69 |
-15.86 |
-35.34 |
2.03 |
-36.24 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
- |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Augmented Payout Ratio |
|
- |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Key Financial Trends
Microvast Holdings, Inc. (NASDAQ: MVST) has shown significant financial activity over the past few years, with some notable trends in its income, cash flow, and balance sheet statements.
- Total revenue has demonstrated a steady growth trend, increasing from approximately $47.9 million in Q1 2023 to $121.4 million in Q4 2024, indicating growing business operations and sales performance.
- Other non-interest income, a major component of total revenue, also increased significantly, from about $46.9 million in Q1 2023 to $113.4 million in Q4 2024, reflecting diversification or strong operational income streams beyond interest income.
- Cash and cash equivalents, while fluctuating, have generally stayed robust in recent quarters (e.g., $63.6 million in Q3 2024), providing liquidity support for operations.
- Weighted average basic shares outstanding have slightly increased over time, from around 307 million in early 2023 to 318 million in late 2024, indicating some dilution but relatively stable shareholder base.
- Capital expenditures remain substantial but have decreased from very high levels in 2021 and 2022 to around $355,000 in Q4 2024, reflecting possibly less aggressive expansion or better capital management.
- The company has sustained consecutive net losses each quarter, with a significant loss of $82.3 million in Q4 2024, showing ongoing challenges in reaching profitability despite revenue growth.
- Total non-interest expenses remain very high relative to revenue, totaling around $204 million in Q4 2024 compared to $121 million revenue, indicating significant operational costs and inefficiencies.
- Interest expense, especially long-term debt interest, has increased markedly over recent quarters (e.g., $1.59 million in Q4 2024 up from under $1 million in late 2022), contributing to overall losses.
- Net cash from continuing operating activities turned positive only recently (about $6.1 million in Q4 2024), after many quarters of negative cash flow from operations, indicating cash generation issues.
- The company’s balance sheet reveals a considerable amount of debt, including long-term debt approximately $121 million in Q3 2024, and accrued interest payables at $104.9 million, reflecting leverage and interest obligations that could pressure financial flexibility.
Summary: Microvast has successfully increased its revenue over the last few years but continues to face challenges in controlling operational expenses and profitability. Losses remain substantial despite revenue gains, and interest expenses are notable. The positive sign is improving cash flow from operations and stable liquidity. Investors should monitor the company’s ability to manage costs, reduce losses, and service its debt as key factors for future performance.
08/22/25 08:56 PMAI Generated. May Contain Errors.