VinFast Auto (VFS) financial statements
VinFast Auto reported revenue of 44.02T VND in fiscal 2024, up 40.0% a year over 3 years.
Net income was -77.27T VND and the operating margin -125.9%, against -168.9% in 2021.
Free cash flow was -47.16T VND.
The diluted share count rose 48% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions (VND).
Income statement
Fiscal years, in VND, from VinFast Auto's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 16.03T VND | 13.93T VND | 27.88T VND | 44.02T VND |
| Cost of revenue | 25.28T VND | 26.97T VND | 41.59T VND | 69.30T VND |
| Gross profit | -9.26T VND | -13.05T VND | -13.71T VND | -25.28T VND |
| Research and development | 9.26T VND | 21.20T VND | 15.41T VND | 10.03T VND |
| Selling, general and admin | 4.63T VND | 9.43T VND | 11.27T VND | 16.89T VND |
| Operating income | -27.07T VND | -44.56T VND | -41.97T VND | -55.40T VND |
| Interest expense | 3.44T VND | 6.53T VND | 10.13T VND | 15.66T VND |
| Pre-tax income | -32.01T VND | -51.90T VND | -60.17T VND | -77.38T VND |
| Income tax | 209.2B VND | 1.06T VND | 76.9B VND | -29.7B VND |
| Net income | -32.18T VND | -52.89T VND | -60.17T VND | -77.27T VND |
| EPS (diluted) | -20,386.00 VND | -23,005.00 VND | -26,038.00 VND | -33,042.00 VND |
| Diluted shares | 1.58B | 2.30B | 2.31B | 2.34B |
| Gross margin | -57.7% | -93.7% | -49.2% | -57.4% |
| Operating margin | -168.9% | -319.9% | -150.5% | -125.9% |
| Net margin | -200.8% | -379.7% | -215.8% | -175.5% |
Balance sheet
Fiscal years, in VND, from VinFast Auto's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Cash and short-term investments | 3.02T VND | 4.37T VND | 4.10T VND | 4.13T VND |
| Receivables | — | 538.7B VND | 335.3B VND | 5.22T VND |
| Inventory | — | 21.61T VND | 30.14T VND | 27.91T VND |
| Total current assets | — | 44.84T VND | 50.58T VND | 64.78T VND |
| Property, plant and equipment | — | 57.19T VND | 79.12T VND | 78.70T VND |
| Goodwill | — | 272.2B VND | — | — |
| Total assets | — | 113.61T VND | 146.86T VND | 155.97T VND |
| Total current liabilities | — | 66.23T VND | 152.04T VND | 171.51T VND |
| Long-term debt | — | 41.62T VND | 30.17T VND | 22.86T VND |
| Total liabilities | — | 149.83T VND | 212.27T VND | 250.87T VND |
| Shareholders' equity | -73.39T VND | -114.11T VND | -142.78T VND | -164.71T VND |
| Net debt | -3.02T VND | 51.84T VND | 69.00T VND | 58.68T VND |
Cash flow
Fiscal years, in VND, from VinFast Auto's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Operating cash flow | -28.97T VND | -47.87T VND | -50.27T VND | -30.47T VND |
| Capital spending | 6.01T VND | 23.34T VND | 24.53T VND | 16.69T VND |
| Free cash flow | -34.98T VND | -71.21T VND | -74.80T VND | -47.16T VND |
| Stock-based compensation | — | — | 150.1B VND | 81.7B VND |
| Dividends paid | 499.0B VND | — | — | — |
| Net borrowing | -18.68T VND | -41.64T VND | -72.95T VND | -71.88T VND |
| Free cash flow margin | -218.2% | -511.2% | -268.3% | -107.1% |
| Dividends per share | 316.05 VND | — | — | — |
Questions
What was VinFast Auto's revenue in 2024?
44.02T VND in fiscal 2024, from its 10-K filing.
How much free cash flow does VinFast Auto generate?
-47.16T VND in fiscal 2024 (operating cash flow minus capital spending).
From VinFast Auto's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.