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Microvast Valuation Multiples

Discover revenue and EBITDA valuation multiples for Microvast and similar public comparables like MIC Electronics, Lion E-Mobility, and Fastned.

Microvast Overview

About Microvast

Microvast Holdings Inc is a technology innovator that designs, develops, and manufactures lithium-ion battery solutions. It is renowned for its cutting-edge cell technology and its vertical integration capabilities which extends from core battery chemistry to battery packs.


Founded

2006

HQ

United States of America
Employees

2.3K+

Website

microvast.com

Financials

LTM Revenue $417M

LTM EBITDA $22.9M

EV

$1.4B

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Microvast Financials

Microvast has a last 12-month revenue (LTM) of $417M and a last 12-month EBITDA of $22.9M.

In the most recent fiscal year, Microvast achieved revenue of $380M and an EBITDA of -$155M.

Microvast expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Microvast P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $417M XXX $380M XXX XXX XXX
Gross Profit $132M XXX $120M XXX XXX XXX
Gross Margin 32% XXX 31% XXX XXX XXX
EBITDA $22.9M XXX -$155M XXX XXX XXX
EBITDA Margin 5% XXX -41% XXX XXX XXX
EBIT -$32.6M XXX -$22.9M XXX XXX XXX
EBIT Margin -8% XXX -6% XXX XXX XXX
Net Profit -$101M XXX -$195M XXX XXX XXX
Net Margin -24% XXX -51% XXX XXX XXX
Net Debt XXX XXX $238M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Microvast Stock Performance

As of May 30, 2025, Microvast's stock price is $4.

Microvast has current market cap of $1.2B, and EV of $1.4B.

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Microvast Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$1.4B $1.2B XXX XXX XXX XXX $-0.10

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Microvast Valuation Multiples

As of May 30, 2025, Microvast has market cap of $1.2B and EV of $1.4B.

Microvast's trades at 3.6x EV/Revenue multiple, and -8.9x EV/EBITDA.

Equity research analysts estimate Microvast's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Microvast has a P/E ratio of -11.6x.

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Microvast Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $1.2B XXX $1.2B XXX XXX XXX
EV (current) $1.4B XXX $1.4B XXX XXX XXX
EV/Revenue 3.3x XXX 3.6x XXX XXX XXX
EV/EBITDA 59.9x XXX -8.9x XXX XXX XXX
EV/EBIT -42.1x XXX -59.9x XXX XXX XXX
EV/Gross Profit 10.4x XXX n/a XXX XXX XXX
P/E -11.6x XXX -6.0x XXX XXX XXX
EV/FCF -573.6x XXX -55.1x XXX XXX XXX

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Microvast Margins & Growth Rates

Microvast's last 12 month revenue growth is 26%

Microvast's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Microvast's rule of 40 is 0% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Microvast's rule of X is 72% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Microvast Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 26% XXX 27% XXX XXX XXX
EBITDA Margin 5% XXX -41% XXX XXX XXX
EBITDA Growth 397% XXX n/a XXX XXX XXX
Rule of 40 0% XXX -14% XXX XXX XXX
Bessemer Rule of X XXX XXX 72% XXX XXX XXX
Revenue per Employee XXX XXX $0.2M XXX XXX XXX
Opex per Employee XXX XXX $0.1M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 6% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 11% XXX XXX XXX
Opex to Revenue XXX XXX 38% XXX XXX XXX

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Microvast Public Comps

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EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Alfen XXX XXX XXX XXX XXX XXX
Ebusco Holding XXX XXX XXX XXX XXX XXX
Fastned XXX XXX XXX XXX XXX XXX
Lion E-Mobility XXX XXX XXX XXX XXX XXX
MIC Electronics XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Microvast M&A and Investment Activity

Microvast acquired  XXX companies to date.

Last acquisition by Microvast was  XXXXXXXX, XXXXX XXXXX XXXXXX . Microvast acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Microvast

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Microvast

When was Microvast founded? Microvast was founded in 2006.
Where is Microvast headquartered? Microvast is headquartered in United States of America.
How many employees does Microvast have? As of today, Microvast has 2.3K+ employees.
Who is the CEO of Microvast? Microvast's CEO is Mr. Yang Wu.
Is Microvast publicy listed? Yes, Microvast is a public company listed on NAS.
What is the stock symbol of Microvast? Microvast trades under MVST ticker.
When did Microvast go public? Microvast went public in 2021.
Who are competitors of Microvast? Similar companies to Microvast include e.g. Alfen, Ebusco Holding, Fastned, Lion E-Mobility.
What is the current market cap of Microvast? Microvast's current market cap is $1.2B
What is the current revenue of Microvast? Microvast's last 12 months revenue is $417M.
What is the current revenue growth of Microvast? Microvast revenue growth (NTM/LTM) is 26%.
What is the current EV/Revenue multiple of Microvast? Current revenue multiple of Microvast is 3.3x.
Is Microvast profitable? Yes, Microvast is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Microvast? Microvast's last 12 months EBITDA is $22.9M.
What is Microvast's EBITDA margin? Microvast's last 12 months EBITDA margin is 5%.
What is the current EV/EBITDA multiple of Microvast? Current EBITDA multiple of Microvast is 59.9x.
What is the current FCF of Microvast? Microvast's last 12 months FCF is -$2.4M.
What is Microvast's FCF margin? Microvast's last 12 months FCF margin is -1%.
What is the current EV/FCF multiple of Microvast? Current FCF multiple of Microvast is -573.6x.

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