One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
VinFast Auto Ltd.
VFS · NMS · Consumer Cyclical · Auto Manufacturers
Current price
$3.26
52-week range
$2.78 - $5.29
Market cap
$7.62B
Balance sheet
Distressed
-4.24x Concerning
Net cash $0.00. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
1 Risk
1 rewards · 1 risks
View details ↓What this company does
VinFast Auto Ltd.
VinFast Auto is a Vietnamese company that makes electric vehicles like cars, scooters, and buses, selling them in several countries. Their main income comes from selling these vehicles and related services like battery leasing. This matters because it shows how they plan to make money as they grow their electric vehicle business.
How the company got here
VinFast Auto Ltd. is a relatively new player in the automotive industry, founded in 2017 by Vietnamese billionaire Phạm Nhật Vượng as the automotive arm of his conglomerate, Vingroup [3, 8]. The company's ambition was to become Vietnam's first globally competitive car brand, aiming for industrialization and national pride [8]. VinFast quickly established a state-of-the-art manufacturing complex in Vietnam and debuted its first vehicles, initially gasoline-powered cars, at the 2018 Paris Motor Show [2, 8]. By 2022, VinFast announced a strategic shift to cease production of internal combustion engine vehicles and focus entirely on electric vehicles (EVs) [8]. This transition marked a significant turning point, positioning VinFast as a pure-play EV company with a global outlook [9, 17].
What it actually does
VinFast Auto Ltd. designs, manufactures, and sells a range of electric mobility products. This includes electric cars (EVs), electric scooters (e-scooters), and electric buses (e-buses) [1, 4]. The company aims to make electric mobility accessible to everyone [9, 17]. Beyond the vehicles themselves, VinFast also offers related services such as battery leasing and charging solutions for its electric products [1, 4]. They have also ventured into offering smartphones and related businesses [1].
Car
This is VinFast's largest business segment, focusing on the design, development, manufacturing, and sales of electric cars. This segment also includes the crucial services of battery leasing and battery charging for these vehicles [1, 4]. VinFast offers a range of electric SUVs and other car models, aiming for competitive pricing and modern features [6, 10, 15]. The company is expanding its car production globally, with manufacturing facilities in Vietnam and a new plant under construction in North Carolina, USA [6, 7]. This segment represents the core of VinFast's transition into a global EV brand [8].
E-scooter
The e-scooter segment involves the design, development, manufacturing, and sales of electric scooters. Similar to the car segment, this also includes related battery leasing and charging services [1, 4]. VinFast was one of the first companies in Vietnam to offer electric scooters, and this segment contributes to their broader goal of promoting electric mobility [8, 17].
Ebus
This segment is dedicated to the design, development, manufacturing, and sales of electric buses [1, 4]. VinFast introduced Vietnam's first electric bus in 2021, showcasing its commitment to diversifying its electric vehicle offerings beyond personal transportation [7]. This segment aligns with the company's mission to provide sustainable transportation solutions for a wider range of needs.
What management is betting on now
VinFast's current strategy is heavily focused on scaling up its operations in key international markets, including Southeast Asia (Philippines, Indonesia, India) and expanding its presence in the United States and Europe [9]. Management is also prioritizing the expansion of its product and technology roadmap, aiming to enhance vehicle intelligence and driver-assistance systems [9, 16]. Strengthening after-sales capabilities, including a global service network and charging infrastructure partnerships, is another key priority to ensure a seamless customer experience [9, 17]. The company is also committed to sustainability, with goals to eliminate single-use plastics and use renewable electricity in its plants [12].
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2023 Q4
$-3.29B
FY2024 Q4
$-1.94B
Revenue
$1.81B
Net income
$-3.18B
Diluted EPS
-1.40
Operating cash flow
$-1.25B
Free cash flow
$-1.94B
Fetching…
Sources
Revenue
$1.20B
Net income
$-2.40B
Diluted EPS
-1.04
Operating cash flow
$-2.25B
Free cash flow
$-3.29B
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $3.26
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net cash $0 - more cash than debt. Interest coverage -4.2x.
Net debt
$0.00
Interest coverage
-4.24x
VinFast Auto Ltd.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 5 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
VFS
BASELINE
VinFast Auto Ltd.
Total debt — Interest coverage -4.24x This is the baseline the peer rows are being compared against.
Total debt $5.35B Interest coverage -13.08x Neither company has much profit cushion over interest right now.
Total debt $3.66B Interest coverage -36.82x Neither company has much profit cushion over interest right now.
Total debt $4.36B Interest coverage -15.86x Neither company has much profit cushion over interest right now.
Total debt $4.04B Interest coverage -6.99x Neither company has much profit cushion over interest right now.
Total debt $6.02B Interest coverage -5.29x Neither company has much profit cushion over interest right now.
What you should know
The case for and against VFS
1 Reward
1 Risk
Rewards
-
Revenue grew 54.7% last year.
Risks
-
Net debt grew 86.2% over 3 years.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
-2.40x
P/B
-0.00x
P/S
—
EV/EBITDA
—
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
-61.1%
Operating margin
0.0%
Net margin
-82.0%
ROE
—
ROA
-50.5%
Health
Liquidity and balance-sheet strength
Debt / equity
—
Current ratio
0.53x
Quick ratio
0.17x
Total debt
—
Total cash
—
Growth
How the business has been compounding
Revenue TTM
$1.81B
Revenue 5Y CAGR
54.7%
EPS TTM
-1.85
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-1.25B
Free CF TTM
$-2.61B
FCF margin
-144.2%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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