VFS - VinFast Auto Ltd.

Price: -- -- | CONSENSUS: Buy DETAILS | PRICE TARGET: $5.00 DETAILS

Annual Quarterly

Scale:

Metric	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1	2023 Q4	2023 Q3	2023 Q2	2023 Q1	2022 Q4	2022 Q3	2022 Q2	2022 Q1	2021 Q4
Revenue
Revenue	23,111,052	39,411,708	18,100,218	16,609,309	16,306,376	16,496,376	12,326,537	8,670,238	6,525,864	9,705,358	8,254,306	7,941,500	1,964,765	4,465,119	3,182,774	3,439,302	3,878,396	4,850,296
Cost of Revenue	40,115,944	55,143,692	28,267,783	23,434,199	22,042,866	29,550,771	15,284,423	14,106,687	10,354,773	14,425,216	10,721,967	10,887,158	5,343,576	8,154,716	6,627,411	5,963,839	6,486,530	7,617,111
Gross Profit	(17,004,892)	(15,731,984)	(10,167,565)	(6,824,890)	(5,736,490)	(13,054,395)	(2,957,886)	(5,436,449)	(3,828,909)	(4,719,858)	(2,467,661)	(2,945,658)	(3,378,811)	(3,689,597)	(3,444,637)	(2,524,537)	(2,608,134)	(2,766,815)
Operating Expenses
R&D Expenses	2,535,422	2,869,357	2,679,109	2,335,125	2,015,586	2,678,370	2,091,725	2,662,530	2,617,478.2	3,626,612	3,658,895.5	3,644,612	5,179,913	5,898,324	3,593,736	6,871,280	3,576,558	3,988,922
SG&A Expenses	2,539,543	9,811,990	4,332,041	3,400,505	3,750,599	6,532,845	3,461,210	3,836,791	3,057,185	3,379,847	2,763,436	2,924,923	2,493,468	3,881,358	1,927,478	1,556,603	1,858,312	1,657,301
Other Expenses	781,751	629,149	208,339	559,555	557,488	1,586,501	(389,450)	1,460,667	525,666.8	949,186	32,461.5	138,955	(66,872)	(649,441)	859,763	588,003	27,485	4,641,837
Operating Expenses	5,856,716	13,310,496	7,219,489	6,295,185	6,323,673	10,797,716	5,163,485	7,959,988	6,200,330	7,955,645	6,454,793	6,708,490	7,606,509	9,130,241	6,380,977	9,015,886	5,462,355	10,288,060
Operating Income
Operating Income	(22,861,608)	(29,042,481)	(17,387,054)	(13,120,075)	(12,060,163)	(23,852,111)	(8,121,371)	(13,396,437)	(10,029,239)	(12,675,503)	(8,922,454)	(9,654,148)	(10,985,320)	(12,819,838)	(9,825,614)	(11,540,423)	(8,070,489)	(13,054,875)
Interest Expense	5,118,408	5,684,105	5,995,478	5,581,350	5,053,606	1,990,021	4,991,829	4,514,558	4,162,257	3,474,164	3,526,722	3,237,677	2,322,862	0	2,027,884	1,880,423	1,546,487	0
Interest Income	104,776	164,570	59,902	56,243	25,577	318,117	75,208	199,571	28,449	121,170	25,207	193,520	15,213	33,570.2	12,243	36,015	43,603	120.9
Profitability
EBITDA	(20,036,229)	(26,296,340)	(15,079,632)	(11,822,733)	(9,865,224)	(19,923,086)	(5,610,329)	(11,674,697)	(8,514,984)	(10,224,103.8)	(9,600,415)	(8,803,886)	(10,266,381)	(10,687,029)	(8,041,962)	(10,158,397)	(5,426,535)	(7,590,484)
EBIT	(23,022,701)	(29,545,092)	(17,842,043)	(14,526,578)	(12,644,911)	(22,514,725)	(8,287,015)	(14,229,933.1)	(10,614,554)	(12,042,625.6)	(11,458,679)	(10,454,858)	(11,450,219.9)	(11,882,246)	(9,827,177)	(11,777,778)	(7,093,230)	(9,049,927)
Income Before Tax	(28,141,109)	(35,229,197)	(23,837,521)	(20,107,928)	(17,698,517)	(30,634,978)	(13,278,844)	(18,694,011)	(14,776,811)	(18,504,969)	(14,985,401)	(13,692,535)	(14,359,165)	(15,379,969)	(11,224,245)	(13,658,201)	(8,639,717)	(14,207,532)
Income Tax Expense	(33,127)	(29,928)	173,570	233,677	(4,748)	(40,167)	(26,900)	70,316	(32,944)	85,507	18,444	(39,978)	(19,502)	(66,516)	(983)	(6,383)	1,020,620	11,303
Net Income	(28,059,960)	(35,101,196)	(23,952,814)	(20,316,088)	(17,671,789)	(30,575,583)	(13,227,273)	(18,741,226)	(14,721,282)	(18,574,744)	(14,986,693)	(13,628,956)	(14,310,798)	(15,285,738)	(11,208,639)	(13,640,886)	(9,648,532)	(14,203,610)
Per Share Data
EPS (Basic)	-12106.28	-15005.00	-10239.00	-8686.00	-7556.00	-13074.00	-5656.00	-8015.00	-6296.90	-7955.74	-6491.01	-5388.60	-6188.10	-6582.40	-4826.71	-5874.09	-4154.89	-6116.41
EPS (Diluted)	-11994.00	-15005.00	-10239.00	-8686.00	-7556.00	-13074.00	-5656.00	-8015.00	-6296.90	-7956.20	-6491.01	-5388.60	-6127.48	-6582.40	-4826.71	-5874.09	-4154.89	-6116.41
Shares Outstanding	2,339.5	2,339.1	2,339.4	2,338.8	2,338.8	2,338.7	2,338.7	2,338.3	2,337.9	2,334.8	2,308.8	2,322.2	2,322.2	2,322.2	2,322.2	2,322.2	2,322.2	2,322.2

Metric	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1	2023 Q4	2023 Q3	2023 Q2	2023 Q1	2022 Q4	2022 Q3
Current Assets
Cash & Cash Equivalents	5,505,470	7,351,998	8,800,061	13,772,585	2,398,559	3,306,793	1,892,408	2,382,144	2,959,316	4,095,472	3,154,673	1,600,653	3,740,797	4,271,442	1,854,601
Short-Term Investments	2,357,178	3,051,790	2,791,864	2,511,888	2,096,452	818,975	4,078	4,162	4,106	4,105	4,053	3,989	3,883	3,902	0
Net Receivables	25,450,104	25,192,632	25,556,103	21,998,405	19,772,165	19,407,112	15,519,973	15,423,405	12,355,253	566,715	1,184,740	376,800	444,557	671,067	331,083
Inventory	37,160,957	34,882,649	37,666,323	34,976,865	32,873,560	27,907,030	31,524,062	29,643,327	26,711,521	30,141,381	24,408,253	24,022,069	24,779,582	21,607,277	12,514,181
Other Current Assets	1,285,863	1,936,172	769,189	1,639,530	780,978	3,802,631	709,495	1,292,227	697,520	10,675,510	11,134,372	13,198,801	15,180,629	8,982,692	11,785,316
Total Current Assets	83,683,436	85,439,748	87,809,930	86,047,876	67,912,461	64,781,629	55,331,512	52,534,890	47,066,494	50,583,489	46,761,367	39,202,312	44,155,985	44,838,620	36,857,078
Non-Current Assets
Property, Plant & Equipment	89,279,192	85,570,592	88,743,924	88,975,760	82,756,339	83,829,740	85,938,179	86,118,479	87,876,261	74,652,950	70,605,382	70,227,796	68,730,688	61,747,650	65,639,466
Goodwill	0	0	0	0	0	0	0	0	0	0	272,203	272,203	272,203	272,203	272,203
Intangible Assets	1,170,318	1,206,618	1,057,647	1,028,919	1,075,912	1,164,635	1,170,472	1,222,526	1,307,720	1,295,303	1,535,181	1,515,011	1,537,757	1,461,071	1,287,065
Long-Term Investments	6,229,083	6,877,009	1,945,365	1,956,865	2,121,109	2,084,142	2,111,312	2,101,075	2,150,772	2,199,102	0	309,614	289,322	696,332	833,194
Other Non-Current Assets	4,813,718	3,528,075	3,626,931	3,454,312	4,378,651	4,106,350	7,255,739	7,285,860	6,145,020	18,193,001	5,667,724	4,990,736	4,858,978	3,811,865	1,324,949
Total Non-Current Assets	101,492,311	97,182,294	95,373,867	95,415,856	90,332,011	91,184,867	96,475,702	96,727,940	98,500,102	96,274,232	78,080,490	77,626,002	75,937,051	68,766,679	68,523,683
Total Assets	185,175,747	182,622,042	183,183,797	181,463,732	158,244,472	155,966,496	151,807,214	149,262,830	145,566,596	146,857,721	124,841,857	116,828,314	120,093,036	113,605,299	105,380,761
Current Liabilities
Account Payables	37,228,053	32,630,360	28,300,071	22,043,372	19,927,936	20,791,192	14,321,429	10,813,035	7,688,438	12,146,588	10,551,587	15,953,666	17,903,867	16,636,820	70,311,281
Short-Term Debt	36,389,627	63,492,767	33,336,915	31,247,835	34,294,723	94,005,176	48,992,300	48,421,252	48,766,664	87,238,771	21,154,961	15,170,731	39,693,854	15,299,473	42,728,711
Deferred Revenue	2,471,181	2,086,064	2,150,088	2,019,403	1,885,056	3,689,414	2,353,219	0	810,344	1,343,859	760,068	614,973	1,335,117	1,679,985	1,445,222
Other Current Liabilities	40,448,347	34,332,281	35,598,740	33,746,128	31,400,895	28,058,556	25,815,488	93,066,556	33,397,317	21,204,421	54,891,932	4,134,982	11,601,922	8,264,368	4,436,009
Total Current Liabilities	175,351,633	164,758,965	174,284,917	184,442,312	178,181,056	171,508,908	169,171,780	163,234,314	159,600,839	152,036,022	98,805,558	91,686,295	83,550,977	66,225,202	126,989,362
Non-Current Liabilities
Long-Term Debt	48,328,478	59,601,532	46,844,932	43,440,663	26,423,773	46,816,171	21,249,203	22,879,716	24,766,799	32,555,846	45,678,450	40,730,992	44,658,810	49,172,305	48,209,681
Deferred Tax Liabilities	1,263,655	1,296,783	1,341,542	1,168,012	933,896	938,643	983,269	0	987,819	911,272	0	920,955	0	947,981	0
Other Non-Current Liabilities	49,722,784	39,647,177	50,945,455	43,356,546	43,924,498	24,808,165	48,674,240	40,265,911	33,282,782	19,752,227	39,854,826	41,001,651	37,383,903	30,174,524	32,147,558
Total Non-Current Liabilities	109,805,610	110,258,855	108,180,709	97,253,362	77,936,914	79,362,331	77,639,116	67,980,284	65,971,912	60,233,414	90,568,443	88,465,896	87,352,167	84,050,556	83,213,477
Total Liabilities	285,157,243	275,017,820	282,465,626	281,695,674	256,117,970	250,871,239	246,810,896	231,214,598	225,572,751	212,269,436	189,374,001	180,152,191	170,903,144	150,275,758	210,202,839
Stockholders' Equity
Common Stock	9,867,220	9,867,220	9,867,220	9,867,220	9,867,167	9,867,167	9,867,167	9,861,943	9,861,943	9,847,536	7,621,603	871,021	871,021	871,021	553,892
Retained Earnings	(395,236,788)	(367,176,828)	(329,732,860)	(305,780,046)	(285,463,957)	(267,792,169)	(237,192,337)	(223,965,064)	(205,239,009)	(184,292,753)	(168,785,639)	(153,785,023)	(141,271,538)	(127,188,455)	(111,914,975)
Accumulated Other Comprehensive Income	141,282	(572,559)	(976,748)	(727,557)	(711,757)	(460,644)	(253,078)	(464,216)	(348,292)	(487,421)	(101,400)	(101,456)	(122,889)	(104,065)	(55,612)
Total Stockholders' Equity	(191,474,279)	(173,936,583)	(150,915,049)	(179,991,388)	(177,658,445)	(164,711,670)	(172,304,004)	(159,276,761)	(157,354,547)	(142,782,394)	(141,908,829)	(140,703,791)	(128,211,739)	(114,109,832)	(104,770,040)
Total Liabilities & Equity	185,175,747	182,622,042	183,183,797	181,463,732	158,244,472	155,966,496	151,807,214	149,262,830	145,566,596	146,857,721	124,841,857	116,828,314	120,093,036	113,605,299	105,380,761
Debt Metrics
Total Debt	91,728,459	129,965,692	87,715,418	82,616,775	65,953,140	146,396,473	76,119,119	77,721,908	80,244,911	126,649,317	73,214,555	62,289,753	91,117,055	68,497,012	94,434,348
Net Debt	86,222,989	122,613,694	78,915,357	68,844,190	63,554,581	143,089,680	74,226,711	75,339,764	77,285,595	122,553,845	70,059,882	60,689,100	87,376,258	64,225,570	92,579,747

Metric	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1	2023 Q4	2023 Q3	2023 Q2	2023 Q1	2022 Q4	2022 Q3	2022 Q2	2022 Q1	2021 Q4
Operating Activities
Net Income	(28,107,982)	(37,536,383)	(24,011,091)	(20,341,605)	(17,693,769)	(30,594,811)	(13,227,273)	(18,764,327)	(14,841,877)	(15,516,340)	(15,003,845)	(12,535,202)	(14,120,825)	(15,313,453)	(11,223,262)	(13,651,818)	(9,660,337)	(14,218,835)
Depreciation & Amortization	3,160,199	3,211,301	2,762,411	2,703,845	2,779,687	2,591,639	2,676,686	2,504,756	2,099,570	2,499,130	1,858,264	1,650,972	1,160,318	1,195,217	1,785,215	1,619,381	1,666,695	1,536,289
Stock-Based Compensation	0	39,052	76,586	9,537	(13,602)	10,794	(1,054)	24,073	47,880	150,103	0	2,809	0	0	0	0	1,493,457	0
Change in Working Capital	(4,942,800)	7,537,278	1,625,792	(1,499,412)	(7,820,906)	10,121,868	(2,932,661)	262,440	(4,427,001)	(68,304)	(6,244,272)	5,304,864	(4,896,484)	1,382,002	(3,212,743)	3,315,898	(1,321,116)	482,246
Other Non-Cash Items	16,571,820	20,203,897	8,187,121	7,293,081	7,667,802	18,928,262	2,324,121	8,087,650	4,739,168	4,680,178	(5,062,821)	3,549,334	(1,302,090)	2,636,572	2,702,737	2,303,964	(2,367,442)	5,892,656
Operating Cash Flow	(13,351,890)	(6,589,615)	(11,185,651)	(11,600,437)	(15,085,536)	1,013,126	(11,192,367)	(7,862,273)	(12,409,099)	(8,171,933)	(24,452,674)	(2,027,223)	(19,159,081)	(10,099,662)	(9,948,053)	(6,412,575)	(9,168,123)	(6,307,644)
Investing Activities
Capital Expenditure	(4,974,453)	(7,449,694)	(6,586,195)	(5,300,879)	(3,642,497)	(6,111,536)	(3,170,111)	(2,617,944)	(4,807,718)	(5,078,077)	(4,295,847)	(8,127,194)	(7,599,814)	(5,007,308)	(7,144,328)	(3,128,712)	(2,401,324)	(1,865,704)
Acquisitions	0	(5,395,000)	0	0	0	0	0	(20,000)	(10,252)	(6,900)	0	480,804	(480,804)	0	0	0	0	196,407
Purchases of Investments	0	0	0	(1,234,438)	(1,277,450)	(838,573)	1,994,697	(4,332,754)	0	0	0	10,480,000	(10,480,000)	0	0	0	0	0
Sales/Maturities of Investments	0	0	0	0	0	0	0	0	0	0	0	(10,828,304)	10,960,804	0	0	0	0	0
Other Investing Activities	(625,937)	1,828,871	(190,720)	(1,115,130)	101,916	419,917	2,514,887	425,715	520,073	474,765	0	(132,500)	1,468,075	70,907	1,361,469	(16,517)	226,867	1,292,104
Investing Cash Flow	(5,600,390)	(11,015,823)	(6,776,915)	(7,650,447)	(4,818,031)	(6,530,192)	1,339,473	(6,544,983)	(4,297,897)	(4,610,212)	(4,295,847)	(8,127,194)	(6,131,739)	(4,936,401)	(5,782,859)	(3,145,229)	(2,174,457)	(377,193)
Financing Activities
Net Debt Issuance	11,664,821	49,471	(13,047,018)	13,638,055	13,008,887	(4,909,561)	15,132,456	1,344,185	15,436,833	6,521,796	16,528,307	7,992,649	19,549,391	17,216,893	15,654,239	9,173,878	3,977,958	3,952,142
Stock Repurchased	0	0	0	0	0	0	(1)	0	0	0	0	0	0	0	0	0	0	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(461,917)
Other Financing Activities	0	14,747,487	2,294.4	18,000,018	5,000,052	(7,369,658)	(5,875,000)	13,169,755	64,818	7,174,810	13,778,711	0	5,875,000	275,480	0	646,655	6,000,000	3,959,339
Financing Cash Flow	16,664,821	14,796,958	12,735,315	31,638,073	18,008,939	9,715,439	9,257,455	14,513,940	15,501,651	13,696,606	30,307,018	7,992,649	25,424,391	17,492,373	15,654,239	9,820,533	9,977,958	7,449,564
Cash Position
Net Change in Cash	(1,593,526)	(2,081,730)	(5,476,441)	12,371,385	(2,145,738)	3,990,807	(384,300)	(38,384)	(1,138,619)	893,601	1,554,731	(2,122,701)	118,926	2,416,841	(71,895)	235,927	(1,334,347)	747,005
Cash at Beginning	9,955,747	12,037,477	17,513,918	5,142,533	7,288,271	3,297,463	3,681,763	3,720,147	4,858,766	3,822,398	2,267,667	4,390,368	4,271,442	1,854,601	1,926,496	1,690,569	3,024,916	2,277,911
Cash at End	8,362,221	9,955,747	12,037,477	17,513,918	5,142,533	7,288,270	3,297,463	3,681,763	3,720,147	4,715,999	3,822,398	2,267,667	4,390,368	4,271,442	1,854,601	1,926,496	1,690,569	3,024,916
Free Cash Flow	(18,326,343)	(14,039,309)	(17,771,846)	(16,901,316)	(18,728,033)	(5,098,410)	(14,362,478)	(10,480,217)	(17,216,817)	(13,250,010)	(28,748,521)	(10,154,417)	(26,758,895)	(15,106,970)	(17,092,381)	(9,541,287)	(11,569,447)	(8,173,348)

Key Metrics	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1	2023 Q4	2023 Q3	2023 Q2	2023 Q1	2022 Q4	2022 Q3	2022 Q2	2022 Q1	2021 Q4
Income Statement
Revenue	23,111,052	39,411,708	18,100,218	16,609,309	16,306,376	16,496,376	12,326,537	8,670,238	6,525,864	9,705,358	8,254,306	7,941,500	1,964,765	4,465,119	3,182,774	3,439,302	3,878,396	4,850,296
Gross Profit	(17,004,892)	(15,731,984)	(10,167,565)	(6,824,890)	(5,736,490)	(13,054,395)	(2,957,886)	(5,436,449)	(3,828,909)	(4,719,858)	(2,467,661)	(2,945,658)	(3,378,811)	(3,689,597)	(3,444,637)	(2,524,537)	(2,608,134)	(2,766,815)
Operating Income	(22,861,608)	(29,042,481)	(17,387,054)	(13,120,075)	(12,060,163)	(23,852,111)	(8,121,371)	(13,396,437)	(10,029,239)	(12,675,503)	(8,922,454)	(9,654,148)	(10,985,320)	(12,819,838)	(9,825,614)	(11,540,423)	(8,070,489)	(13,054,875)
Net Income	(28,059,960)	(35,101,196)	(23,952,814)	(20,316,088)	(17,671,789)	(30,575,583)	(13,227,273)	(18,741,226)	(14,721,282)	(18,574,744)	(14,986,693)	(13,628,956)	(14,310,798)	(15,285,738)	(11,208,639)	(13,640,886)	(9,648,532)	(14,203,610)
EPS (Diluted)	-11994.00	-15005.00	-10239.00	-8686.00	-7556.00	-13074.00	-5656.00	-8015.00	-6296.90	-7956.20	-6491.01	-5388.60	-6127.48	-6582.40	-4826.71	-5874.09	-4154.89	-6116.41
Balance Sheet
Cash & Equivalents	5,505,470	7,351,998	8,800,061	13,772,585	2,398,559	3,306,793	1,892,408	2,382,144	2,959,316	4,095,472	3,154,673	1,600,653	3,740,797	4,271,442	1,854,601
Total Assets	185,175,747	182,622,042	183,183,797	181,463,732	158,244,472	155,966,496	151,807,214	149,262,830	145,566,596	146,857,721	124,841,857	116,828,314	120,093,036	113,605,299	105,380,761
Total Debt	91,728,459	129,965,692	87,715,418	82,616,775	65,953,140	146,396,473	76,119,119	77,721,908	80,244,911	126,649,317	73,214,555	62,289,753	91,117,055	68,497,012	94,434,348
Stockholders' Equity	(191,474,279)	(173,936,583)	(150,915,049)	(179,991,388)	(177,658,445)	(164,711,670)	(172,304,004)	(159,276,761)	(157,354,547)	(142,782,394)	(141,908,829)	(140,703,791)	(128,211,739)	(114,109,832)	(104,770,040)
Cash Flow
Operating Cash Flow	(13,351,890)	(6,589,615)	(11,185,651)	(11,600,437)	(15,085,536)	1,013,126	(11,192,367)	(7,862,273)	(12,409,099)	(8,171,933)	(24,452,674)	(2,027,223)	(19,159,081)	(10,099,662)	(9,948,053)	(6,412,575)	(9,168,123)	(6,307,644)
Capital Expenditure	(4,974,453)	(7,449,694)	(6,586,195)	(5,300,879)	(3,642,497)	(6,111,536)	(3,170,111)	(2,617,944)	(4,807,718)	(5,078,077)	(4,295,847)	(8,127,194)	(7,599,814)	(5,007,308)	(7,144,328)	(3,128,712)	(2,401,324)	(1,865,704)
Free Cash Flow	(18,326,343)	(14,039,309)	(17,771,846)	(16,901,316)	(18,728,033)	(5,098,410)	(14,362,478)	(10,480,217)	(17,216,817)	(13,250,010)	(28,748,521)	(10,154,417)	(26,758,895)	(15,106,970)	(17,092,381)	(9,541,287)	(11,569,447)	(8,173,348)