VinFast Auto Ltd. Warrant (VFSWW) Financials
Newest figures come from the 10-Q for Q2 FY2025, filed Sep 30, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VFSWW SEC filings page.
VinFast Auto Ltd. Warrant (VFSWW) reported $1.8B in revenue for fiscal year 2024, up 54.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue expansion is being overwhelmed by negative gross margins, financing pressure, and cash-consuming capital spending.
Revenue increased54.7% , yet FY2024 net margin remained-175.5% , so added sales have not overcome the cost structure. Operating cash flow improved to-$1.25B in FY2024, but free cash flow was still-$1.94B , showing that operating improvement has not translated into cash after reinvestment.
Liabilities exceeded assets in FY2024, leaving equity at
Gross margin worsened from
Financial Health Signals
VinFast Auto Ltd. Warrant does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
VinFast Auto Ltd. Warrant passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
VinFast Auto Ltd. Warrant reported a net loss of $3.2B while operations used $1.3B of cash. With neither figure positive, the ratio between the two carries no quality signal.
VinFast Auto Ltd. Warrant reported an operating loss of $2.3B against $643.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q2 2025.
Cash & Balance Sheet
VinFast Auto Ltd. Warrant held $549.8M in cash against $1.7B in long-term debt as of Q2 2025.
Not reported for Q2 2025.
Not reported for Q2 2025.
Margins & Returns
None of these metrics is reported for Q2 2025.
Capital Allocation
None of these metrics is reported for Q2 2025.
VFSWW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
VFSWW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2510-Q | Q4'2410-K | Q4'2310-K |
|---|---|---|---|
| Total Assets | $7.2B | $6.4B+16.2% | $5.5B |
| Current Assets | $3.4B | $2.7B+29.6% | $2.1B |
| Cash & Equivalents | $549.8M | $135.9M-19.0% | $167.7M |
| Short-Term Investments | $100.3M | $33.7M+19466.2% | $172K |
| Inventory | $1.4B | $1.1B-6.7% | $1.2B |
| Accounts Receivable | N/A | $214.5M+1451.8% | $13.8M |
| Long-Term Investments | $36.6M | $37.7M | $0 |
| Total Liabilities | $14.4B | $13.2B+14.4% | $11.5B |
| Current Liabilities | $7.4B | $7.0B+21.2% | $5.8B |
| Non-Current Liabilities | $3.9B | $3.3B+32.3% | $2.5B |
| Long-Term Debt | $1.7B | $939.5M-25.7% | $1.3B |
| Total Equity | -$7.2B | -$6.8B-12.7% | -$6.0B |
| Retained Earnings | -$12.2B | -$11.0B-42.3% | -$7.7B |
Not reported in any period shown, so not listed: Goodwill.
VFSWW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
VFSWW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Debt-to-Equity, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$6.8B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.38), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where VinFast Auto Ltd. Warrant Ranks
Frequently Asked Questions
What is VinFast Auto Ltd. Warrant's annual revenue?
VinFast Auto Ltd. Warrant (VFSWW) reported $1.8B in total revenue for fiscal year 2024. This represents a 54.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is VinFast Auto Ltd. Warrant's revenue growing?
VinFast Auto Ltd. Warrant (VFSWW) revenue grew by 54.7% year-over-year, from $1.2B to $1.8B in fiscal year 2024.
Is VinFast Auto Ltd. Warrant profitable?
No, VinFast Auto Ltd. Warrant (VFSWW) reported a net income of -$3.2B in fiscal year 2024.
What is VinFast Auto Ltd. Warrant's EBITDA?
VinFast Auto Ltd. Warrant (VFSWW) had EBITDA of -$1.9B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does VinFast Auto Ltd. Warrant have?
As of fiscal year 2024, VinFast Auto Ltd. Warrant (VFSWW) had $135.9M in cash and equivalents against $939.5M in long-term debt.
What is VinFast Auto Ltd. Warrant's gross margin?
VinFast Auto Ltd. Warrant (VFSWW) had a gross margin of -57.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is VinFast Auto Ltd. Warrant's free cash flow?
VinFast Auto Ltd. Warrant (VFSWW) recorded an outflow of $1.9B in free cash flow during fiscal year 2024. This represents a 41.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is VinFast Auto Ltd. Warrant's operating cash flow?
VinFast Auto Ltd. Warrant (VFSWW) recorded an outflow of $1.3B in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are VinFast Auto Ltd. Warrant's total assets?
VinFast Auto Ltd. Warrant (VFSWW) had $6.4B in total assets as of fiscal year 2024, including both current and long-term assets.
What are VinFast Auto Ltd. Warrant's capital expenditures?
VinFast Auto Ltd. Warrant (VFSWW) invested $685.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does VinFast Auto Ltd. Warrant spend on research and development?
VinFast Auto Ltd. Warrant (VFSWW) invested $412.0M in research and development during fiscal year 2024.
What is VinFast Auto Ltd. Warrant's current ratio?
VinFast Auto Ltd. Warrant (VFSWW) had a current ratio of 0.38 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is VinFast Auto Ltd. Warrant's return on assets (ROA)?
VinFast Auto Ltd. Warrant (VFSWW) had a return on assets of -49.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
Why is VinFast Auto Ltd. Warrant's debt-to-equity ratio negative or not reported?
VinFast Auto Ltd. Warrant (VFSWW) has negative shareholder equity of -$6.8B as of fiscal year 2024, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is VinFast Auto Ltd. Warrant's Piotroski F-Score?
VinFast Auto Ltd. Warrant (VFSWW) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are VinFast Auto Ltd. Warrant's earnings high quality?
VinFast Auto Ltd. Warrant (VFSWW) reported a net loss of $3.2B while operations used $1.3B of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can VinFast Auto Ltd. Warrant cover its interest payments?
VinFast Auto Ltd. Warrant (VFSWW) reported an operating loss of $2.3B against $643.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.