VinFast Auto Ltd. (VFS) — Financial statements
Income statement, balance sheet, and cash flow for VinFast Auto Ltd. — annual and quarterly history with growth and margin analysis.
| Metric (VND Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 90,427,611↑105.4% | 44,019,015↑57.9% | 27,883,821↑100.2% | 13,927,746↓13.1% | 16,028,182 | |
| Cost of Revenue | 128,888,540↑86.0% | 69,296,654↑66.6% | 41,594,732↑54.2% | 26,974,525↑6.7% | 25,283,958 | |
| Gross Profit | -38,460,929↓52.2% | -25,277,639↓84.4% | -13,710,911↓5.1% | -13,046,779↓41.0% | -9,255,776 | |
| Operating Expenses | ||||||
| R&D Expenses | 9,899,177↓1.3% | 10,025,329↓30.9% | 14,516,962↓27.2% | 19,939,898↑115.4% | 9,255,376 | |
| General & Administrative Expenses | 14,288,829↑60.7% | 8,892,429↑58.5% | 5,611,548↑36.2% | 4,119,443↑69.9% | 2,424,560 | |
| Selling & Marketing Expenses | 7,006,306↓12.4% | 7,995,602↑41.2% | 5,661,737↑8.6% | 5,213,739↑136.6% | 2,203,839 | |
| SG&A Expenses | 21,295,135↑26.1% | 16,888,031↑49.8% | 11,273,285↑20.8% | 9,333,182↑101.7% | 4,628,399 | |
| Other Expenses | 1,954,531↓39.1% | 3,208,159↑29.9% | 2,469,495↑10.4% | 2,236,388↓43.1% | 3,927,850 | |
| Operating Expenses | 33,148,843↑10.1% | 30,121,519↑6.6% | 28,259,742↓10.3% | 31,509,468↑76.9% | 17,811,625 | |
| Total Costs & Expenses | 162,037,383↑63.0% | 99,418,173↑42.3% | 69,854,474↑19.4% | 58,483,993↑35.7% | 43,095,583 | |
| Operating Results | ||||||
| Operating Income | -71,609,773↓29.3% | -55,399,158↓32.0% | -41,970,653↑5.8% | -44,556,247↓64.6% | -27,067,401 | |
| Depreciation & Amortization | 11,494,695↑16.4% | 9,876,477↑41.5% | 6,981,919↑9.3% | 6,389,755↑30.6% | 4,891,372 | |
| EBITDA | -63,063,929↓42.7% | -44,185,295↓28.5% | -34,376,273↑8.0% | -37,362,069↓105.6% | -18,171,081 | |
| EBIT | -74,558,624↓37.8% | -54,096,664↓30.8% | -41,358,192↑5.5% | -43,751,824↓89.7% | -23,062,453 | |
| Interest & Other Income | ||||||
| Net Interest Income | -22,008,247↓46.3% | -15,039,820↓26.5% | -11,885,793↓86.6% | -6,369,229↓112.2% | -3,001,833 | |
| Interest Income | 306,292↓50.7% | 621,345↑231.1% | 187,640↑18.3% | 158,641↓64.0% | 440,284 | |
| Interest Expense | 22,314,539↑42.5% | 15,661,165↑29.7% | 12,073,433↑85.0% | 6,527,870↑89.6% | 3,442,117 | |
| Non-Operating Income | 2,948,851↑320.5% | -1,337,386↓118.4% | -612,461↑23.9% | -804,423↑79.9% | -4,004,948 | |
| Other Income / Expenses | -25,263,390↓14.9% | -21,985,486↓20.8% | -18,202,770↓148.0% | -7,340,115↓48.5% | -4,942,323 | |
| Income Before Tax | -96,873,163↓25.2% | -77,384,644↓28.6% | -60,173,423↓15.9% | -51,896,362↓62.1% | -32,009,724 | |
| Income Tax Expense | 372,571↑1354.7% | -29,695↓138.6% | 76,925↓92.8% | 1,062,335↑407.7% | 209,237 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | -97,245,734↓25.7% | -77,354,949↓28.4% | -60,250,348↓13.8% | -52,958,697↓64.4% | -32,218,961 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | -97,041,887↓25.6% | -77,265,364↓28.4% | -60,168,126↓13.8% | -52,887,812↓64.3% | -32,183,727 | |
| Bottom-Line Net Income | -97,041,887↓25.6% | -77,265,364↓28.4% | -60,168,126↓13.8% | -52,887,812↓64.3% | -32,183,727 | |
| EPS (Basic) | -41,486.00↓25.6% | -33,042.00↓33.7% | -24,710.00↓15.3% | -21,438.09↓54.7% | -13,859.08 | |
| EPS (Diluted) | -41,486.00↓25.6% | -33,042.00↓33.0% | -24,838.00↓15.9% | -21,438.09↓54.7% | -13,859.08 | |
| Weighted Average Shares | 2,339↑0.0% | 2,338↑1.2% | 2,311↓0.5% | 2,322↑0.0% | 2,322 | |
| Weighted Average Diluted Shares | 2,339↑0.0% | 2,338↑1.2% | 2,311↓0.5% | 2,322↑0.0% | 2,322 | |
* All figures in Millions of VND, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.