VFS revenueFY2025VND 90.18T
- FY YoY
- +104.9%
VFS revenue was VND 90.18T for fiscal 2025 (ended Dec 31, 2025), up 104.9% from fiscal 2024. It rose in 3 of the last 4 fiscal years. Fiscal 2025 is the highest of the 5 fiscal years on file.
VinFast Auto Ltd. (VFS) financials
For fiscal 2025 (ended Dec 31, 2025), VinFast Auto Ltd. reported VND 90.18T of revenue and -VND 99.38T of net income. Figures are in VND, the currency of its SEC filings.
- Revenue, FY2025
- VND 90.18T
- Revenue growth, YoY
- +104.9%
- Net income, FY2025
- -VND 99.38T
- Net margin
- -110.2%
- Free cash flow, FY2025
- -VND 67.44T
- EPS, diluted, FY2025
- -VND 42488.00
- Cash
- VND 7.35T
- Total debt
- VND 82.16T
FY2021FY2025
FY2021FY2025
FY2021FY2025
VFS revenue and earnings growth
VFS net incomeFY2025-VND 99.38T
VFS net income was -VND 99.38T for fiscal 2025 (ended Dec 31, 2025), compared with -VND 77.27T in fiscal 2024.
VFS EPSFY2025-VND 42488.00
VFS diluted EPS was -VND 42488.00 for fiscal 2025 (ended Dec 31, 2025), compared with -VND 33042.00 in fiscal 2024.
VFS free cash flowFY2025-VND 67.44T
VFS free cash flow was -VND 67.44T for fiscal 2025 (ended Dec 31, 2025), compared with -VND 47.16T in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | VND 90.18T | VND 44.02T | VND 27.88T | VND 13.93T | VND 16.03T |
| Cost of revenue | VND 131.09T | VND 69.30T | VND 41.59T | VND 26.97T | VND 25.28T |
| Gross profit | -VND 40.91T | -VND 25.28T | -VND 13.71T | -VND 13.05T | -VND 9.26T |
| Research and development | VND 9.92T | VND 10.03T | VND 15.41T | VND 21.20T | VND 9.26T |
| Selling, general and admin | VND 14.27T | VND 8.89T | VND 5.61T | VND 4.21T | VND 2.42T |
| Operating income | -VND 74.09T | -VND 55.40T | -VND 41.97T | -VND 44.56T | -VND 27.07T |
| Pre-tax income | -VND 99.23T | -VND 77.38T | -VND 60.17T | -VND 51.90T | -VND 32.01T |
| Income tax | VND 357.29B | -VND 29.70B | VND 76.92B | VND 1.06T | VND 209.24B |
| Net income | -VND 99.38T | -VND 77.27T | -VND 60.17T | -VND 52.89T | -VND 32.18T |
| EPS, basic | -VND 42488.00 | -VND 33042.00 | -VND 26038.00 | -VND 23005.00 | -VND 20386.00 |
| EPS, diluted | -VND 42488.00 | -VND 33042.00 | -VND 26038.00 | -VND 23005.00 | -VND 20386.00 |
| Diluted shares | 2.34B | 2.34B | 2.31B | 2.30B | 1.58B |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash and equivalents | VND 7.35T | VND 3.31T | VND 4.10T | VND 4.36T | VND 3.07T |
| Short-term investments | VND 3.05T | VND 818.98B | VND 4.11B | VND 3.90B | - |
| Receivables | VND 4.07T | VND 5.22T | VND 335.35B | VND 538.70B | - |
| Inventory | VND 34.88T | VND 27.91T | VND 30.14T | VND 21.61T | - |
| Current assets | VND 85.44T | VND 64.78T | VND 50.58T | VND 44.84T | - |
| Goodwill | - | - | - | VND 272.20B | - |
| Total assets | VND 182.62T | VND 155.97T | VND 146.86T | VND 113.61T | - |
| Current liabilities | VND 164.76T | VND 171.51T | VND 152.04T | VND 66.23T | - |
| Short-term debt | VND 34.62T | VND 39.12T | VND 42.92T | VND 14.58T | - |
| Long-term debt | VND 47.55T | VND 22.86T | VND 30.17T | VND 41.62T | - |
| Total debt | VND 82.16T | VND 61.99T | VND 73.09T | VND 56.20T | - |
| Total liabilities | VND 275.02T | VND 250.87T | VND 212.27T | VND 149.83T | - |
| Shareholders' equity | -VND 173.94T | -VND 164.71T | -VND 65.41T | -VND 36.23T | -VND 73.39T |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Operating cash flow | -VND 44.46T | -VND 30.47T | -VND 50.27T | -VND 47.87T | -VND 28.97T |
| Capital expenditures | VND 22.98T | VND 16.69T | VND 24.53T | VND 23.34T | VND 6.01T |
| Free cash flow | -VND 67.44T | -VND 47.16T | -VND 74.80T | -VND 71.21T | -VND 34.98T |
| Investing cash flow | -VND 30.26T | -VND 16.03T | -VND 24.42T | -VND 21.12T | VND 2.42T |
| Financing cash flow | VND 77.18T | VND 49.00T | VND 75.46T | VND 70.32T | VND 28.86T |
| Dividends paid | - | - | - | - | VND 498.96B |
| Stock-based compensation | - | VND 81.69B | VND 150.10B | - | - |
| Depreciation and amortization | VND 11.46T | VND 9.88T | VND 6.98T | - | - |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue growth, YoY | 104.9% | 57.9% | 100.2% | -13.1% | - |
| Gross margin | -45.4% | -57.4% | -49.2% | -93.7% | -57.7% |
| Operating margin | -82.2% | -125.9% | -150.5% | -319.9% | -168.9% |
| Net margin | -110.2% | -175.5% | -215.8% | -379.7% | -200.8% |
| Free cash flow margin | -74.8% | -107.1% | -268.3% | -511.2% | -218.2% |
| Return on assets | -54.4% | -49.5% | -41.0% | -46.6% | - |
| Current ratio | 0.52 | 0.38 | 0.33 | 0.68 | - |
Source: XBRL data VinFast Auto Ltd. files with the SEC, latest filing dated Apr 30, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
VFS peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| VFS | VND 90.18T | +104.9% | -VND 99.38T | -110.2% | $7.60B |
| TSLA | $103.57B | +8.3% | $3.22B | 3.1% | $1.42T |
| TM | ¥50.68T | +5.5% | ¥3.85T | 7.6% | $281.77B |
| RACE | €7.15B | +7.0% | €1.60B | 22.3% | $97.35B |
| GM | $186.95B | -0.3% | $4.08B | 2.2% | $72.68B |
| PCAR | $29.08B | -1.5% | $2.76B | 9.5% | $53.69B |
| F | $186.97B | -1.4% | -$7.79B | -4.2% | $49.68B |
| HMC | ¥21.80T | +0.5% | -¥423.94B | -1.9% | $46.43B |
| RIVN | $6.48B | +11.1% | -$2.98B | -45.9% | $19.87B |
VFS FAQ
9 questionsWhat is VFS revenue?
VinFast Auto Ltd. (VFS) reported VND 90.18T of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 104.9% from the year before.Is VFS profitable?
No. VinFast Auto Ltd. reported a net loss of VND 99.38T for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does VFS have?
VinFast Auto Ltd. reported VND 7.35T in cash and cash equivalents and VND 82.16T of debt on its most recent balance sheet in SEC filings.How fast is VFS revenue growing?
VinFast Auto Ltd.'s revenue changed +104.9% in fiscal 2025, to VND 90.18T.What is VFS gross margin?
VinFast Auto Ltd.'s gross profit was -VND 40.91T on VND 90.18T of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of -45.4%.What is VFS free cash flow?
VinFast Auto Ltd. generated -VND 67.44T of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -VND 44.46T less capital expenditures.What is VFS earnings per share?
Diluted earnings per share were -VND 42488.00 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did VFS last report financial results?
The latest statements here come from VinFast Auto Ltd.'s 20-F filed on Apr 30, 2026, covering the period ended Dec 31, 2025.Where does this VFS financial data come from?
Quantisnow builds these statements from the structured XBRL data VinFast Auto Ltd. files with the SEC. It is provided for information only and is not investment advice.