Microvast Holdings, Inc.

MVSTNASDAQIndustrials● Active

$1.24

$-0.02(-1.20%)

Market Cap$411448895

P/E Ratio—

52W High$7.12

52W Low$1.17

Avg Volume5.1M

Open$1.30

Beta3.45

Free Cash Flow Financials Revenue

Microvast Holdings, Inc. (MVST) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

MVST · free cash flow · updated Jun 8, 2026

Core FCF metrics

MVST · FCF · TTM · margin & CAGR

Free cash flow was $56.1M for FY2025 (fiscal year ending 2025-12-31), up 325.1% year-over-year The FCF margin was 13.1%.

FY2025 Free Cash Flow$56.1M▲ +325.1% YoY

Trailing 12M (TTM)$32.8Mtrailing 4 quarters sum

FCF Margin13.1%$56.1M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

MVST · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$75.9M(20M)$56.1M▲ +325.1%13.1%

FY2024$2.8M(28M)−$24.9M▲ +90.5%-6.6%

FY2023−$75.3M(187M)−$262.1M▼ 28.0%-85.5%

FY2022−$53.9M(151M)−$204.8M▼ 54.1%-100.2%

FY2021−$45.0M(88M)−$132.9M▼ 4202.4%-87.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

MVST · P/FCF · FCF yield · FCF per share

Microvast Holdings, Inc. (MVST) trades at a FCF yield of 8.04% and a price-to-free-cash-flow ratio of 12.3x. FCF per share stands at $0.10, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

8.04%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$0.10

TTM FCF ÷ Shares Outstanding

Price / FCF

x12.3

Share Price ÷ FCF per Share

EV / FCF (TTM)

x14.0

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

MVST · cash flow statement · operating / investing / financing

For FY2025, Microvast Holdings, Inc. generated $75.9M in operating cash flow and spent 20M in capital expenditures, yielding $56.1M in free cash flow.

Operating Activities

+$75.9M

Cash from core business operations

2025-12-31

Investing Activities

−$16.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$2.7M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($75.9M) − |CapEx| (20M) = FCF ($56.1M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

MVST vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Microvast Holdings, Inc.YOU

MVST

$56.1M+325.1%13.1%

Space Exploration Technologies Corp.

SPCX

−$13.95B-159.0%-74.7%

Loss

Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Microvast Holdings, Inc. (MVST) reported free cash flow of $56.1M for FY2025 (fiscal year ending 2025-12-31), up 325.1% year-over-year. The FCF margin was 13.1%.

Based on available data, Microvast Holdings, Inc. has maintained positive free cash flow for at least 1 fiscal year(s). FCF peaked at $56.1M in FY2025.

Microvast Holdings, Inc.'s FCF yield is 8.04% and price-to-FCF ratio is 12.3x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

MVST free cash flow · 8 questions

Microvast Holdings, Inc. free cash flow was $56.1M for FY2025, up 325.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $32.8M.

MVST free cash flowMVST FCFMVST FCF 2025MVST free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Microvast Holdings, Inc. · Microvast Holdings, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026