VinFast Auto Ltd. (VFS) 10-Year Financial Performance & Capital Metrics

VFS • • Industrial / General

Consumer CyclicalAuto ManufacturersMass Market Passenger VehiclesChinese EV Mass Market

AboutVinFast Auto Ltd. engages in the design and manufacture of electric vehicles (EV), e-scooters, and e-buses in Vietnam, Canada, and the United States. The company operates through three segments: namely Car, E-scooters and Ebus. It offers the design, development, manufacturing and sales of e-scooters and related battery lease and battery charging service for cars, e-scooters, and Ebus. The company also offers electric SUV, mini car EV, mid-size pickup electric truck, 7-seater MPV, E-bus, E-scooter, electric bike, and battery technology and solutions. VinFast Auto Ltd. is based in Hai Phong City, Vietnam. VinFast Auto Ltd. operates as a subsidiary of Vingroup Joint Stock Company.Show more

Revenue $44019.01B +57.9%
EBITDA -$45522.68B -30.1%
Net Income -$77265.36B -28.4%
EPS (Diluted) -33042.00 -33.0%
Gross Margin -57.42% -16.8%
EBITDA Margin -103.42% +17.6%
Operating Margin -125.85% +16.4%
Net Margin -175.53% +18.7%
ROE -
ROIC -78.9% -6.1%
Debt/Equity -
Interest Coverage -3.54 -1.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y40.04%

TTM86.21%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-22.03%

EPS CAGR

10Y-

5Y-

3Y-

TTM-21.6%

ROCE

10Y Avg-113.73%

5Y Avg-113.73%

3Y Avg-158.03%

Latest-78.9%

Peer Comparison

Chinese EV Mass Market

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LILi Auto Inc.	13.9B	16.64	2.21	16.71%	3.59%	6.16%	59.01%	0.23
VFSVinFast Auto Ltd.	8.16B	3.49	-0.00	57.87%	-132.48%
CJETChijet Motor Company, Inc.	1.84M	0.42	-0.00	-27.08%	-7.01%
NIONIO Inc.	11.09B	4.68	-0.42	18.18%	-35.01%	-367.38%		2.50
ZKZEEKR Intelligent Technology Holding Limited	6.85B	26.73	-0.98	46.91%	-3.68%		21.67%
XPEVXPeng Inc.	16.41B	21.05	-1.72	33.22%	-7.1%	-14.11%		0.51

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	13.69T	16.03T	13.93T	27.88T	44.02T
Revenue Growth %	-	0.17%	-0.13%	1%	0.58%
Cost of Goods Sold+	20.39T	25.28T	26.97T	41.59T	69.3T
COGS % of Revenue	1.49%	1.58%	1.94%	1.49%	1.57%
Gross Profit+	-6.7T	-9.26T	-13.05T	-13.71T	-25.28T
Gross Margin %	-0.49%	-0.58%	-0.94%	-0.49%	-0.57%
Gross Profit Growth %	-	-0.38%	-0.41%	-0.05%	-0.84%
Operating Expenses+	6.55T	17.81T	31.51T	28.26T	30.12T
OpEx % of Revenue	0.48%	1.11%	2.26%	1.01%	0.68%
Selling, General & Admin	2.55T	4.63T	9.33T	11.27T	16.89T
SG&A % of Revenue	0.19%	0.29%	0.67%	0.4%	0.38%
Research & Development	3.93T	9.26T	19.94T	14.52T	10.03T
R&D % of Revenue	0.29%	0.58%	1.43%	0.52%	0.23%
Other Operating Expenses	67.49B	3.93T	2.24T	2.47T	3.21T
Operating Income+	-13.25T	-27.07T	-44.56T	-41.97T	-55.4T
Operating Margin %	-0.97%	-1.69%	-3.2%	-1.51%	-1.26%
Operating Income Growth %	-	-1.04%	-0.65%	0.06%	-0.32%
EBITDA+	-8.94T	-22.18T	-38.17T	-34.99T	-45.52T
EBITDA Margin %	-0.65%	-1.38%	-2.74%	-1.25%	-1.03%
EBITDA Growth %	-	-1.48%	-0.72%	0.08%	-0.3%
D&A (Non-Cash Add-back)	4.3T	4.89T	6.39T	6.98T	9.88T
EBIT	-15.16T	-23.06T	-43.75T	-41.36T	-54.1T
Net Interest Income+	-4.31T	-3T	-6.37T	-11.89T	-15.04T
Interest Income	-603.47B	440.28B	158.64B	187.64B	621.35B
Interest Expense	3.7T	3.44T	6.53T	12.07T	15.66T
Other Income/Expense	-5.62T	-4.94T	-7.34T	-18.2T	-21.99T
Pretax Income+	-18.86T	-32.01T	-51.9T	-60.17T	-77.38T
Pretax Margin %	-1.38%	-2%	-3.73%	-2.16%	-1.76%
Income Tax+	87.77B	209.24B	1.06T	76.92B	-29.7B
Effective Tax Rate %	1%	1.01%	1.02%	1%	1%
Net Income+	-18.95T	-32.18T	-52.89T	-60.17T	-77.27T
Net Margin %	-1.38%	-2.01%	-3.8%	-2.16%	-1.76%
Net Income Growth %	-	-0.7%	-0.64%	-0.14%	-0.28%
Net Income (Continuing)	-18.95T	-32.22T	-52.96T	-60.25T	-77.35T
Discontinued Operations	0	0	0	0	0
Minority Interest	29.97B	-14.68B	77.44T	77.37T	69.81T
EPS (Diluted)+	-8160.27	-13859.08	-21438.09	-24838.00	-33042.00
EPS Growth %	-	-0.7%	-0.55%	-0.16%	-0.33%
EPS (Basic)	-8160.27	-13859.08	-21438.09	-24710.00	-33042.00
Diluted Shares Outstanding	2.32B	2.32B	2.32B	2.31B	2.34B
Basic Shares Outstanding	2.32B	2.32B	2.32B	2.31B	2.34B
Dividend Payout Ratio	-	-	-	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	20.45T	26.69T	44.84T	50.58T	64.78T
Cash & Short-Term Investments	828.75B	3.03T	4.28T	4.1T	4.13T
Cash Only	827.74B	3.02T	4.27T	4.1T	3.31T
Short-Term Investments	1.01B	169M	3.9B	4.11B	818.98B
Accounts Receivable	405.99B	599.99B	671.07B	566.72B	19.41T
Days Sales Outstanding	10.82	13.66	17.59	7.42	160.92
Inventory	5.35T	6.68T	21.61T	30.14T	27.91T
Days Inventory Outstanding	95.83	96.49	292.37	264.5	146.99
Other Current Assets	13.52T	9.32T	8.98T	10.68T	3.8T
Total Non-Current Assets+	72.46T	58.63T	68.77T	96.27T	91.18T
Property, Plant & Equipment	52.82T	54.12T	61.75T	74.75T	83.83T
Fixed Asset Turnover	0.26x	0.30x	0.23x	0.37x	0.53x
Goodwill	235.1B	272.2B	272.2B	0	0
Intangible Assets	4.3T	3.16T	1.46T	1.29T	1.16T
Long-Term Investments	11.65T	182.3B	696.33B	2.2T	2.08T
Other Non-Current Assets	3.4T	840.54B	3.81T	18.12T	4.11T
Total Assets+	92.91T	85.32T	113.61T	146.86T	155.97T
Asset Turnover	0.15x	0.19x	0.12x	0.19x	0.28x
Asset Growth %	-	-0.08%	0.33%	0.29%	0.06%
Total Current Liabilities+	20.04T	87.31T	66.23T	152.04T	171.51T
Accounts Payable	2.73T	3.19T	16.64T	12.15T	20.79T
Days Payables Outstanding	48.95	46.03	225.12	106.59	109.51
Short-Term Debt	7.36T	16.12T	15.3T	87.24T	94.01T
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	2.41T	61.29T	8.26T	21.2T	28.06T
Current Ratio	1.02x	0.31x	0.68x	0.33x	0.38x
Quick Ratio	0.75x	0.23x	0.35x	0.13x	0.22x
Cash Conversion Cycle	57.71	64.12	84.84	165.33	198.4
Total Non-Current Liabilities+	66.69T	74.96T	84.05T	60.23T	79.36T
Long-Term Debt	46.35T	57.95T	49.17T	32.56T	46.82T
Capital Lease Obligations	363.41B	1.3T	3.26T	5.33T	4.08T
Deferred Tax Liabilities	2.16T	51.46B	947.98B	1.03T	938.64B
Other Non-Current Liabilities	17.8T	15.63T	30.17T	19.75T	24.81T
Total Liabilities	86.73T	162.26T	150.28T	212.27T	250.87T
Total Debt+	54.29T	75.75T	68.5T	126.65T	146.4T
Net Debt	53.46T	72.73T	64.23T	122.55T	143.09T
Debt / Equity	8.78x	-	-	-	-
Debt / EBITDA	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-
Interest Coverage	-3.58x	-7.86x	-6.83x	-3.48x	-3.54x
Total Equity+	6.18T	-76.94T	-36.67T	-65.41T	-94.9T
Equity Growth %	-	-13.45%	0.52%	-0.78%	-0.45%
Book Value per Share	2661.29	-33132.70	-15791.17	-28306.67	-40585.37
Total Shareholders' Equity	6.15T	-76.93T	-114.11T	-142.78T	-164.71T
Common Stock	0	553.89B	871.02B	9.85T	9.87T
Retained Earnings	-44.36T	-77.42T	-127.19T	-184.55T	-267.79T
Treasury Stock	0	0	0	0	0
Accumulated OCI	11.8T	-63.49B	-104.06B	-385.87B	-460.64B
Minority Interest	29.97B	-14.68B	77.44T	77.37T	69.81T

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-9.35T	-28.97T	-47.87T	-53.65T	-30.47T
Operating CF Margin %	-0.68%	-1.81%	-3.44%	-1.92%	-0.69%
Operating CF Growth %	-	-2.1%	-0.65%	-0.12%	0.43%
Net Income	-18.95T	-32.22T	-52.96T	-60.25T	-77.27T
Depreciation & Amortization	4.3T	4.89T	6.39T	6.98T	9.88T
Stock-Based Compensation	0	0	0	150.1B	81.69B
Deferred Taxes	73.58B	150.54B	946.74B	-22.29B	-86.62B
Other Non-Cash Items	4.66T	8.77T	28.69B	16.71T	33.97T
Working Capital Changes	567.15B	-10.56T	-2.27T	-17.21T	2.96T
Change in Receivables	-168.77B	-7.41T	622.71B	531.27B	-7.93T
Change in Inventory	4.08T	-3.86T	-20.24T	-12.33T	-6.75T
Change in Payables	168.77B	7.41T	-622.71B	-9.76T	19.54T
Cash from Investing+	-1.84T	2.42T	-21.12T	-23.02T	-16.03T
Capital Expenditures	-9.67T	-6.01T	-23.34T	-24.53T	-16.69T
CapEx % of Revenue	0.71%	0.37%	1.68%	0.88%	0.38%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	7.86T	8.31T	2.21T	1.52T	3.85T
Cash from Financing+	10.45T	28.86T	70.32T	77.42T	49T
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	-498.96B	0	0	0
Share Repurchases	-	-	-	-	-
Other Financing	9.86T	0	-41.65B	1.42T	0
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	-19.02T	-34.98T	-71.21T	-78.6T	-47.16T
FCF Margin %	-1.39%	-2.18%	-5.11%	-2.82%	-1.07%
FCF Growth %	-	-0.84%	-1.04%	-0.1%	0.4%
FCF per Share	-8191.06	-15061.93	-30662.75	-34015.00	-20166.69
FCF Conversion (FCF/Net Income)	0.49x	0.90x	0.91x	0.89x	0.39x
Interest Paid	3.68T	2.87T	5.01T	8.82T	0
Taxes Paid	2.42B	51.41B	22.62B	99.79B	0

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	-306.63%	-	-	-	-
Return on Invested Capital (ROIC)	-16.66%	-73.25%	-286.36%	-74.33%	-78.9%
Gross Margin	-48.9%	-57.75%	-93.67%	-49.17%	-57.42%
Net Margin	-138.42%	-200.79%	-379.73%	-215.78%	-175.53%
Debt / Equity	8.78x	-	-	-	-
Interest Coverage	-3.58x	-7.86x	-6.83x	-3.48x	-3.54x
FCF Conversion	0.49x	0.90x	0.91x	0.89x	0.39x
Revenue Growth	-	17.08%	-13.1%	100.2%	57.87%

Revenue by Geography

	2023
VIET NAM	27.98T
VIET NAM Growth	-
CANADA	577.71B
CANADA Growth	-
UNITED STATES	159.16B
UNITED STATES Growth	-

Frequently Asked Questions

Growth & Financials

VinFast Auto Ltd. (VFS) reported $61.74T in revenue for fiscal year 2024. This represents a 351% increase from $13.69T in 2020.

VinFast Auto Ltd. (VFS) grew revenue by 57.9% over the past year. This is strong growth.

VinFast Auto Ltd. (VFS) reported a net loss of $81.79T for fiscal year 2024.

Dividend & Returns

VinFast Auto Ltd. (VFS) had negative free cash flow of $55.09T in fiscal year 2024, likely due to heavy capital investments.

← Back to Screener