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ZYBERNO

Stock Report

Updated Aug 26, 2026

Microvast Holdings, Inc. (MVSTW)

Technology • NASDAQ

$0.00

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

33.0/100

WEAK BUSINESS

Microvast Holdings, Inc. (MVSTW) scores 33/100 — weak fundamentals with mixed indicators requiring careful analysis before acting.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full MVSTW quality analysis & detailed breakdown

VALUATION SIGNAL

MARGIN OF SAFETY

Is this stock cheap or expensive relative to what the business has historically generated for owners?

+100.0%

Undervalued

Growth gap unavailable — insufficient data for reverse DCF calculation.

🎯 Expected Annual Return →

386.0%

Margin of Safety convergence — your return if the market re-prices to intrinsic value (5-yr annualised)

24,457.5%

Yield + growth — what the business alone earns you, even if the market never re-rates

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full MVSTW valuation analysis · → View full MVSTW Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (1.6%)

Debt-to-Equity (Solvency Risk):EXCELLENT (0.25x)

Operating Margin (Operational Efficiency):CRITICAL (-0.7%)

Return on Capital (Capital Efficiency):CRITICAL (-0.3%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

Microvast Holdings, Inc. (MVSTW) stock report — Zyberno Score 33/100 (WEAK BUSINESS), Margin of Safety +100.0%, 386% expected annual return. Full financial analysis on Zyberno.

According to Zyberno's DCF model, Microvast Holdings, Inc. (MVSTW) trades at $0.00 against an estimated intrinsic value per share of $0.85 — a +100.0% Margin of Safety based on Owner Earnings of $25.60M TTM, projected at -0.9% growth for 10 years with a 2.5% terminal growth rate. Zyberno's model translates this into a 5-year expected return of 386.0% annually.

Over the trailing twelve months, MVSTW generated $25.60M in Owner Earnings. Capital was deployed as follows: $20.34M invested in capital expenditures. Reinvestment rate: -990.1%. Owner Earnings have declined at 0.9% annually over the trailing five years using log-linear regression.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:0.00

Market Cap:$104.68K

Valuation Multiples (3)

P/B Ratio:0.00x

P/S Ratio:0.00x

Peg Ratio:-999.00x

Enterprise Metrics (2)

Enterprise Value:$95.10M

Pfcf Ratio:0.00x

B. Profitability Assessment

Return Metrics (5)

ROE:

1.6%

📊 Click to view full MVSTW ROE analysis →

ROA:0.7%

Roic:

-0.3%

📊 Click to view full MVSTW ROIC analysis →

Reinvestment Rate:-990.1%

Fundamental Growth Rate (g):3.1%

Margin Analysis (3)

Operating Margin Ttm:-0.7%

Net Margin Ttm:1.9%

Ebitda Margin:-0.7%

TTM Performance (3)

Gross Margin Ttm:25.1%

Operating Margin Ttm:-0.7%

Net Margin Ttm:1.9%

Yield Metrics (3)

Earnings Yield:-$53.33K

Owner Earnings Yield:$24.45K

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):

+1.15

📊 Click to view full MVSTW Earnings Surprise analysis →

EPS Surprise vs Expected:88.7%

Latest Earnings Filed:2026-08-10

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):16.0%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):-1.0%

Operating Cash Flow Growth Rate (Linear):74.5%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):65.7%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:1.09x

Quick Ratio:0.82x

Cash Ratio:0.37x

Leverage Analysis (3)

Debt To Equity Ttm:0.25x

Debt-to-Equity Ratio:0.25x

Debt To Ebitda:-999.00x

Coverage Ratios (2)

Interest Coverage Ratio:1.39x

Times Interest Earned:1.39

Capital Structure (4)

Working Capital:31,175,000.00

Cash And Cash Equivalents:127,828,000.00

Long Term Debt:$118.62M

Net Debt:$94.99M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $367.56M

Linear Growth: 16.0%

📊 Click to view full MVSTW Revenue analysis & methodology →

Cost Of Revenue Ttm:$239.43M

Profitability Breakdown (2)

Gross profit TTM: $92.31M

Linear Growth: 51.9%

📊 Click to view full MVSTW Gross Profit analysis & methodology →

Operating income TTM: -$2.67M

Linear Growth: 65.7%

📊 Click to view full MVSTW Operating Income analysis & methodology →

Bottom Line Performance (3)

$7.01M

Income Before Tax:-$78.59M

Ebitda Ttm:-2,671,000.00

Operating Expenses (5)

Operating Expenses:130,871,000.00

R And D Expense:35,812,000.00

Sga Expense:70,198,000.00

Income Tax Expense:-$5.33M

Interest Expense:5,018,000.00

Expense Ratios (3)

R And D To Revenue Percentage:41.0%

Sga To Revenue Percentage:80.4%

Ebitda Margin:-0.7%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$952.19M

Current Assets:$374.92M

Ppe Net:526,050,000.00

Goodwill:0.00

Intangible Assets:$1.97M

Liability Structure (4)

Total Liabilities:409,099,000.00

Current Liabilities:343,746,000.00

Long Term Debt:$118.62M

Short Term Debt:$104.20M

Equity & Capital (3)

Equity:$543.09M

Retained Earnings:-$1.09B

Common Stock:750,000,000.00

Working Capital Items (3)

Accounts Receivable:121,181,000.00

Inventory:93,594,000.00

Accounts Payable:62,639,000.00

Special Items (2)

Contract Liabilities:4,991,000.00

Stock Based Compensation:1,008,000.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $45.94M

Linear Growth: 74.5%

Free cash flow TTM: $25.60M

Linear Growth: -1.0%

📊 Click to view full MVSTW Free Cash Flow analysis & methodology →

Investment Activities (2)

Investing Cash Flow:-$2.80M

Capital Expenditures Ttm:20,343,000.00

Financing Activities (3)

Financing Cash Flow:$29.33M

Dividends Paid Ttm:0.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:28,750,000.00

Long Term Debt Issuance:$17.64M

Long Term Debt Repayments:$0.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):0.03

-$0.16

Earnings Per Share Ttm:$0.02

Revenue & Cash Per Share (3)

Sales Per Share Ttm:1.05

Operating Cash Flow Per Share:$0.22

Fcf Per Share Ttm:0.07

Book Value & Capital (2)

Book Value Per Share:$1.56

Cash Per Share:0.37

Dividend Policy (1)

Dividend Payout Ratio:0.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.37x

Working Capital Turnover Ttm:11.79x

Receivables Management (2)

Receivables Turnover Ttm:3.03x

Days Sales Outstanding Ttm:120.34

Inventory Management (2)

Inventory Turnover Ttm:2.56x

Days Inventory Outstanding Ttm:142.68

Payables & Cash Cycle (2)

Days Payable Outstanding:95.49

Cash Conversion Cycle:167.53

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:80.00

Quality Score:50.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Owner Earnings Analysis (3)

Owner earnings TTM: $25.60M

Linear Growth: -87.8%

📊 Click to view full MVSTW Owner Earnings analysis & methodology →

Owner Earnings Per Share:$0.07

Owner Earnings Yield:$24.45K

Growth Assessment (1)

Owner Earnings Growth Rate:-$0.88

Damodaran Growth Analysis (2)

Reinvestment Rate:-990.1%

Fundamental Growth Rate (g):3.1%

Intrinsic Value Models (1)

Intrinsic Value:

$296.76M

📊 Click to view full MVSTW DCF valuation →

Margin of Safety (1)

Margin Of Safety:

100.0%

📊 Click to view full MVSTW valuation analysis →

Return Scenarios (2)

Theoretical 5-Year Return:

386.0%

📊 Click to view full MVSTW expected return analysis →

Forward Expected Return (Yield + Growth):

24,457.5%

📊 Click to view full MVSTW expected return analysis →

Investment Assessment (1)

Buffett Assessment:Excellent margin of safety

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (2)

Revenue Growth Rate (Linear):16.0%

Operating Income Growth Rate (Linear):65.7%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):-1.0%

Operating Cash Flow Growth Rate (Linear):74.5%

Other Growth Rates (3)

Gross Profit Growth Rate (Linear):51.9%

Book Value Growth Rate (Linear):-10.9%

Owner Earnings Growth Rate:-$0.88

C. Company Profile & Context

Corporate Information (6)

Symbol:MVSTW

Company Name:Microvast Holdings, Inc.

Sector:Technology

Industry:Miscellaneous Electrical Machinery, Equipment & Supplies

Exchange:NASDAQ

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:penny

Volume Category:N/A

Share Structure (3)

Shares Outstanding:348.95M

Shares Outstanding Basic:348.95M

Shares Outstanding Diluted:348.95M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-08-26 07:47:25 UTC

Data Timestamp:2026-08-26T07:47:25.886529