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VFS · Nasdaq · United States · Motor Vehicles & Passenger Car Bodies
In shortVinFast Auto Ltd. is loss-making.
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -125.9% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -175.5% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | – | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.38× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | – | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -3.54× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | -13.01 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -107.1% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 0 of 4 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 0 of 4 | 0/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 3 | 44/100 |
| Revenue growth volatility | 57.3% | 0/100 |
| Operating margin volatility | 87.5% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 40.0% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2024 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
The last 4 fiscal years from the company's annual reports.
VND millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 |
|---|---|---|---|---|
| Revenue | 16,028,182 | 13,927,746 | 27,883,821 | 44,019,015 |
| Cost of revenue | 25,283,958 | 26,974,525 | 41,594,732 | 69,296,654 |
| Gross profit | (9,255,776) | (13,046,779) | (13,710,911) | (25,277,639) |
| Research & development | 9,255,376 | 21,196,862 | 15,414,442 | 10,025,329 |
| Operating income | (27,067,401) | (44,556,247) | (41,970,653) | (55,399,158) |
| Interest expense | 3,442,117 | 6,527,870 | 10,129,306 | 15,661,165 |
| Pre-tax income | (32,009,724) | (51,896,362) | (60,173,423) | (77,384,644) |
| Income tax | 209,237 | 1,062,335 | 76,925 | (29,695) |
| Net income | (32,183,727) | (52,887,812) | (60,168,126) | (77,265,364) |
| Diluted EPS | −VND20,386.00 | −VND23,005.00 | −VND26,038.00 | −VND33,042.00 |
| Diluted shares (millions) | 1,579 | 2,299 | 2,311 | 2,338 |
−13.01 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Sep 30, 2025