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Microvast Holdings, Inc. balance sheet

At the end of fiscal 2025, Microvast Holdings, Inc. had total assets of $1.01bn, total liabilities of $595m and shareholders' equity of $411m. It held $105m in cash against $247m of debt: net debt of $142m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash and equivalents0214812314573105128
Receivables—7689119139121156121
Inventory—4553841501438994
Total current assets0189707545426428449375
Total assets2804059959851,0979521,005952
Accounts payable—424045113654763
Deferred revenue (current)——254434465
Total current liabilities0184176252403330488344
Short-term debt—121317357193104
Long-term debt——029444113—
Total debt0366197107175247119
Total liabilities1389309372533564595409
Shareholders' equity−3205687613564388411543
Non-controlling interests and other (assets − liabilities − equity)60010——————
Net debt (negative = net cash)−014−420−13463102142−9
Shares outstanding8m99m—308m315m323m332m385m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Microvast Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Microvast Holdings, Inc.