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Energizer vs Microvast: revenue, profit, margins and growth compared

Energizer brought in $3B of revenue in fiscal 2025, Microvast $427.5M in fiscal 2025. Revenue changed by +2.3% at Energizer and +12.6% at Microvast on the year before, so Microvast grew faster. Energizer kept 8.1% of its revenue as net profit, Microvast -6.8%. Free cash flow was $63.2M at Energizer and $56.1M at Microvast.

Side by side, latest fiscal year

ENRMVST
Fiscal year endedFY2025 (September 30, 2025)FY2025 (December 31, 2025)
Revenue$3B$427.5M
Revenue growth+2.3%+12.6%
Net income$239M-$29.2M
Net margin8.1%-6.8%
Free cash flow$63.2M$56.1M
Free cash flow margin2.1%13.1%
Earnings per share (diluted)$3.32-$0.09
Cash$236.2M$105M
Debt$3.4B$13.2M
Price to earnings6.6n/a
Market value$1.5B$264.6M
Dividend yield5.45%n/a
Rank by revenue in sector#6 of 34 · Other#16 of 34 · Other

Over the years

Revenue
ENR FY2018: $1.8BENR FY2019: $2.5BENR FY2020: $2.7BENR FY2021: $3BENR FY2022: $3.1BENR FY2023: $3BENR FY2024: $2.9BENR FY2025: $3BMVST FY2019: $76.4MMVST FY2020: $107.5MMVST FY2021: $152MMVST FY2022: $204.5MMVST FY2023: $306.6MMVST FY2024: $379.8MMVST FY2025: $427.5MFY18FY19FY20FY21FY22FY23FY24FY25
ENR $3BMVST $427.5M
Net income
ENR FY2018: $93.5MENR FY2019: $51.1MENR FY2020: -$93.3MENR FY2021: $160.9MENR FY2022: -$231.5MENR FY2023: $140.5MENR FY2024: $38.1MENR FY2025: $239MMVST FY2019: $3.4MMVST FY2020: -$2.4MMVST FY2021: -$206.5MMVST FY2022: -$158.2MMVST FY2023: -$106.3MMVST FY2024: -$195.5MMVST FY2025: -$29.2MFY18FY19FY20FY21FY22FY23FY24FY25
ENR $239MMVST -$29.2M
Net margin
ENR FY2018: 5.2%ENR FY2019: 2.0%ENR FY2020: -3.4%ENR FY2021: 5.3%ENR FY2022: -7.6%ENR FY2023: 4.7%ENR FY2024: 1.3%ENR FY2025: 8.1%MVST FY2019: 4.4%MVST FY2020: -2.3%MVST FY2021: -135.9%MVST FY2022: -77.4%MVST FY2023: -34.7%MVST FY2024: -51.5%MVST FY2025: -6.8%FY18FY19FY20FY21FY22FY23FY24FY25
ENR 8.1%MVST -6.8%
Revenue growth
ENR FY2019: +38.8%ENR FY2020: +10.0%ENR FY2021: +10.1%ENR FY2022: +0.9%ENR FY2023: -3.0%ENR FY2024: -2.5%ENR FY2025: +2.3%MVST FY2020: +40.7%MVST FY2021: +41.3%MVST FY2022: +34.6%MVST FY2023: +49.9%MVST FY2024: +23.9%MVST FY2025: +12.6%FY19FY20FY21FY22FY23FY24FY25
ENR +2.3%MVST +12.6%
Free cash flow
ENR FY2018: $204.5MENR FY2019: $94.4MENR FY2020: $311.1MENR FY2021: $114.8MENR FY2022: -$76.8MENR FY2023: $338.4MENR FY2024: $331.7MENR FY2025: $63.2MMVST FY2019: -$6.9MMVST FY2020: -$3.1MMVST FY2021: -$132.9MMVST FY2022: -$204.8MMVST FY2023: -$262.1MMVST FY2024: -$24.9MMVST FY2025: $56.1MFY18FY19FY20FY21FY22FY23FY24FY25
ENR $63.2MMVST $56.1M

Fiscal years as each company reports them; the two may end in different months.

Questions about Energizer and Microvast

Which is bigger by revenue, Energizer or Microvast?

Energizer is bigger by revenue: $3B in fiscal 2025, against $427.5M for Microvast in fiscal 2025.

Which keeps more of its revenue as profit, Energizer or Microvast?

Energizer had a net margin of 8.1% in fiscal 2025; Microvast had -6.8% in fiscal 2025.

Which grew revenue faster, Energizer or Microvast?

In their latest fiscal years revenue changed by +2.3% at Energizer and +12.6% at Microvast.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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