VinFast Auto Ltd. (NASDAQ: VFS) Earnings Report Highlights

• VinFast reported an EPS of -0.3, missing the estimated EPS of -0.275, but surpassed revenue expectations with $656.5 million.
• The company saw a 296% increase in electric vehicle deliveries and a 473% increase in e-scooter deliveries from the previous year.
• Despite revenue growth, VinFast faces financial challenges with a P/E ratio of -2.79 and a debt-to-equity ratio of -0.89.

VinFast Auto Ltd. (NASDAQ:VFS) is a prominent player in the electric vehicle market, known for its commitment to making electric vehicles accessible. On June 9, 2025, VFS reported an earnings per share (EPS) of -0.3, which fell short of the estimated EPS of -0.275. Despite this, the company generated a revenue of approximately $656.5 million, surpassing the estimated revenue of $520 million.

During the Q1 2025 earnings conference call, key figures from VinFast, including CFO Anh Thi Lan Nguyen, discussed the company's financial performance. Analysts from firms like Cantor Fitzgerald & Co. and BTIG, LLC engaged with the leadership, highlighting the company's strategic direction. VinFast delivered 36,330 electric vehicles in Q1 2025, a 296% increase from the previous year, showcasing significant growth.

VinFast also experienced a substantial rise in e-scooter deliveries, with 44,904 units delivered in Q1 2025, marking a 473% increase from the previous year. The company's total revenues reached VND16,306.4 billion, equivalent to $656.5 million, representing a 149.9% increase from Q1 2024. Despite impressive revenue figures, VinFast recorded gross and net losses of VND5,736.5 billion ($231 million) and VND17,693 billion, respectively.

The company's financial metrics reveal challenges. With a price-to-earnings (P/E) ratio of -2.79, VinFast is experiencing negative earnings. Its price-to-sales ratio of 4.82 indicates investors are willing to pay $4.82 for every dollar of sales. The enterprise value to sales ratio is 8.02, reflecting the company's valuation in relation to its sales.

VinFast's balance sheet shows a debt-to-equity ratio of -0.89, indicating more liabilities than equity. The current ratio of 0.38 suggests potential liquidity challenges in meeting short-term obligations. Despite these hurdles, VinFast trades at a premium compared to its peers, making its valuation unattractive given the current fundamentals.