MVST vs. BFLY

Last updated Apr 1, 2026

Compare and contrast key facts about Microvast Holdings, Inc. (MVST) and Butterfly Network, Inc. (BFLY).

Performance

MVST vs. BFLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Microvast Holdings, Inc. (MVST) and Butterfly Network, Inc. (BFLY). The values are adjusted to include any dividend payments, if applicable.

MVST vs. BFLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MVST Microvast Holdings, Inc.	-46.43%	35.27%	47.86%	-8.50%	-72.97%	-66.90%	67.65%
BFLY Butterfly Network, Inc.	6.32%	21.79%	188.89%	-56.10%	-63.23%	-66.20%	99.90%

Fundamentals

Market Cap MVST : $506.14M BFLY : $1.02B
EPS MVST : -$0.09 BFLY : -$0.31
PS Ratio MVST : 1.15 BFLY : 10.30
PB Ratio MVST : 1.23 BFLY : 5.21
Total Revenue (TTM) MVST : $427.52M BFLY : $97.61M
Gross Profit (TTM) MVST : $122.11M BFLY : $45.74M
EBITDA (TTM) MVST : -$57.51M BFLY : -$71.01M

Returns By Period

In the year-to-date period, MVST achieves a -46.43% return, which is significantly lower than BFLY's 6.32% return.

MVST

• 1D: 6.38%
• 1M: -33.04%
• YTD: -46.43%
• 6M: -61.04%
• 1Y: 28.21%
• 3Y*: 6.55%
• 5Y*: -34.53%
• 10Y*: —

BFLY

• 1D: 5.48%
• 1M: 6.60%
• YTD: 6.32%
• 6M: 109.33%
• 1Y: 77.19%
• 3Y*: 29.04%
• 5Y*: -24.32%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

MVST vs. BFLY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MVST

MVST Risk / Return Rank: 55
MVST Sharpe Ratio Rank: 52
MVST Sortino Ratio Rank: 62
MVST Omega Ratio Rank: 59
MVST Calmar Ratio Rank: 52
MVST Martin Ratio Rank: 51

BFLY

BFLY Risk / Return Rank: 71
BFLY Sharpe Ratio Rank: 67
BFLY Sortino Ratio Rank: 78
BFLY Omega Ratio Rank: 72
BFLY Calmar Ratio Rank: 70
BFLY Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MVST vs. BFLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Microvast Holdings, Inc. (MVST) and Butterfly Network, Inc. (BFLY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MVST	BFLY	Difference
Sharpe ratio Return per unit of total volatility	0.28	0.73	-0.45
Sortino ratio Return per unit of downside risk	1.23	1.97	-0.74
Omega ratio Gain probability vs. loss probability	1.15	1.23	-0.08
Calmar ratio Return relative to maximum drawdown	0.39	1.43	-1.04
Martin ratio Return relative to average drawdown	0.76	2.98	-2.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MVST vs. BFLY - Sharpe Ratio Comparison

The current MVST Sharpe Ratio is 0.28, which is lower than the BFLY Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of MVST and BFLY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MVST	BFLY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.28	0.73	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.19	-0.25	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	-0.15	-0.15	+0.01

Correlation

The correlation between MVST and BFLY is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MVST vs. BFLY - Dividend Comparison

Neither MVST nor BFLY has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

MVST vs. BFLY - Drawdown Comparison

The maximum MVST drawdown since its inception was -99.34%, roughly equal to the maximum BFLY drawdown of -97.40%. Use the drawdown chart below to compare losses from any high point for MVST and BFLY.

Drawdown Indicators

	MVST	BFLY	Difference
Max Drawdown Largest peak-to-trough decline	-99.34%	-97.40%	-1.94%
Max Drawdown (1Y) Largest decline over 1 year	-77.97%	-49.43%	-28.54%
Max Drawdown (5Y) Largest decline over 5 years	-98.91%	-95.90%	-3.01%
Current Drawdown Current decline from peak	-93.88%	-85.11%	-8.77%
Average Drawdown Average peak-to-trough decline	-62.48%	-75.73%	+13.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.16%	23.68%	+16.48%

Volatility

MVST vs. BFLY - Volatility Comparison

Microvast Holdings, Inc. (MVST) has a higher volatility of 46.99% compared to Butterfly Network, Inc. (BFLY) at 22.01%. This indicates that MVST's price experiences larger fluctuations and is considered to be riskier than BFLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVST	BFLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	46.99%	22.01%	+24.98%
Volatility (6M) Calculated over the trailing 6-month period	69.44%	85.38%	-15.94%
Volatility (1Y) Calculated over the trailing 1-year period	101.71%	106.84%	-5.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	186.88%	97.51%	+89.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	160.96%	95.29%	+65.67%

Financials

MVST vs. BFLY - Profitability Comparison

The chart below illustrates the profitability comparison between Microvast Holdings, Inc. and Butterfly Network, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MVST - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Microvast Holdings, Inc. reported a gross profit of 959.00K and revenue of 96.40M. Therefore, the gross margin over that period was 1.0%.

BFLY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Butterfly Network, Inc. reported a gross profit of 21.22M and revenue of 31.51M. Therefore, the gross margin over that period was 67.3%.

MVST - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Microvast Holdings, Inc. reported an operating income of -41.16M and revenue of 96.40M, resulting in an operating margin of -42.7%.

BFLY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Butterfly Network, Inc. reported an operating income of -16.71M and revenue of 31.51M, resulting in an operating margin of -53.0%.

MVST - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Microvast Holdings, Inc. reported a net income of 16.54M and revenue of 96.40M, resulting in a net margin of 17.2%.

BFLY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Butterfly Network, Inc. reported a net income of -15.29M and revenue of 31.51M, resulting in a net margin of -48.5%.