VinFast Auto Ltd.
VFS Consumer Cyclical Auto Manufacturers
VinFast Auto Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $3.6 billion, up 98.5% from fiscal 2024. In the quarter to March 2026, revenue grew 40.2%, EPS fell 60.0%, free cash flow grew 3.73% and total debt rose 37.7%, each against the same quarter a year earlier.
Follow VFS
VinFast Auto Ltd. (VFS) Piotroski F-score
VinFast Auto Ltd.'s Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed.
Piotroski F-score, annual
Embed this chart
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 4 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (57.84%) | (53.31%) | Fail | 0 |
| Positive operating cash flow | (1.77b) | (1.25b) | Fail | 0 |
| Rising return on assets | (57.84%) | (53.31%) | Fail | 0 |
| Cash flow above net income | 2.19b | 1.92b | Pass | 1 |
| Falling long-term leverage | 0.28 | 0.16 | Fail | 0 |
| Rising current ratio | 0.52 | 0.38 | Pass | 1 |
| No new shares issued | 2,339,146,000 | 2,338,415,000 | Fail | 0 |
| Rising gross margin | (45.37%) | (57.42%) | Pass | 1 |
| Rising asset turnover | 0.52 | 0.30 | Pass | 1 |
| Piotroski F-score | Mixed | 4 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| NIO NIO Inc. compare | 6 |
| XPEV XPeng Inc. Sponsored ADR compare | 5 |
| RIVN Rivian Automotive, Inc. compare | 4 |
| VFS VinFast Auto Ltd. | 4 |
| STLA Stellantis N.V. compare | 3 |
| F Ford Motor Company compare | 3 |
| HMC Honda Motor Co., Ltd. compare | 3 |
| LCID Lucid Group, Inc. compare | 3 |
| LI Li Auto Inc. Sponsored ADR compare | 2 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover