October 2026
Largest Public Companies in Vietnam
Benchmark revenue and EBITDA valuation multiples for public comps like
Vingroup, Vietcombank, BIDV, VPBank and VietinBank.
 | Vingroup JSC is a Vietnam-based company engaged in construction and provides retail outlets, commercial offices for lease, residential units for lease and sale. It also carries out investment activities, to provide the management service and to conduct other businesses. The company operates through the segments of Sale of inventory properties, Leasing investment properties and related services, Hospitality, entertainment and other services, Health care and related services, Education services, Retail services, Manufacturing activities, and Others. The company generates the majority of its revenue from Sale of inventory properties including developing and trading apartments and villas at real estate projects of the group. | $8 | +114% | $62B | $73B | 5.6x | 23.4x | ||
| Joint Stock Commercial Bank for Foreign Trade of Vietnam is engaged in the provision of banking products and services. The company's operating segment includes Banking financial services; Non-banking financial services; Securities and Others. It generates maximum revenue from the Banking financial services segment. Its geographical segment includes the North; the Middle and Central Highland; the South and Overseas of which the North segment derives a majority of revenue to the company. The company services include Personal loans, Electronic banking, Savings and Investment, Card, Payment and currency management, Commercial finance, Foreign exchange and capital markets, factoring and others. | $2 | -5% | $18B | $18B | 6.9x | - | ||
| Joint Stock Commercial Bank for Investment and Development of Vietnam is one of the leading commercial banks based in Vietnam. It is a leading provider of products and modern banking services and utilities such as loans, deposits, savings and current account. Its secondary offerings include insurance products of all types such as life and non-life insurance. Its add on services include a variety of brokerage services, investment advice and contribution to established enterprises to invest various projects. The bank's distribution network spans predominantly across Vietnam and a few countries abroad such as Laos, Cambodia, Myanmar, Russia and Czech Republic. | $1 | -9% | $10B | $10B | 3.4x | - | ||
| Vietnam Prosperity JSC Bank is engaged in offering banking services in Vietnam. The firm offers personal services, cards, e-banking services, insurance, and other financial services for household and small and medium enterprises. Its segment includes Banking; Finance company and Asset and liabilities management. The company generates maximum revenue from the Banking segment. | $1 | -15% | $9.5B | $9.5B | 3.3x | - | ||
| Viet Nam Joint Stock Commercial Bank For Industry And Trade is a Vietnam based banking service provider. The company's operating segment include Banking financial services, Non-banking financial services, and Others. It generates maximum revenue from the Banking financial services segment. The company provides banking services including mobilizing and receiving short, medium and long-term deposits from organizations or individuals; making short, medium and long term loans and advances to organizations and individuals; conducting foreign exchange transactions, international trade finance services, discounting of commercial papers, bonds and other valuable papers and other services. | $1 | -9% | $9.2B | $9.2B | 3.1x | - | ||
| Vietnam Technological and Commercial Joint Stock bank The principal activities of the Bank are mobilizing and receiving short, medium and long-term deposit funds from organizations and individuals; lending on short, medium and long-term basis up to the nature and ability of the Bank's capital resources; conducting settlement and cash services and other banking services as approved by the SBV; conducting investments in subsidiaries, associates, joint-ventures and other companies; conducting investments in bonds and dealing in foreign exchange in accordance with applicable regulations. | $1 | -6% | $9.1B | $9.1B | 4.5x | - | ||
| VinFast Auto Ltd manufactures cars, and motor vehicles, renders leasing activities, trades smartphones, and related businesses. The company is engaged in designing and manufacturing premium EVs, e-scooters, and e-buses. The company's initial EV product line is an all-new range of fully electric A- through E-segment SUVs. The Company has three reportable segments, namely Car, E-scooter and Ebus. The Car segment includes the design, development, manufacturing and sales of cars and related battery lease and battery charging services for cars. The E-scooter segment includes the design, development, manufacturing and sales of e-scooters and related battery lease and battery charging service for e-scooters. The Ebus segment includes the design, development, manufacturing and sales of Ebus. | $3 | -2% | $7.3B | $14B | 4.0x | (5.1x) | ||
| Military Commercial Joint Stock Bank provides personal and corporate banking services in Vietnam. The company is engaged in mobilizing and receiving short. medium and long-term deposit funds from organizations and individuals; lending on a short, medium and long-term; conducting settlement and cash services and other banking services as approved by the SBV; making capital contributions. Its operating segment includes Banking and Finance; Securities - Fund Management; Insurance and Debt collection - Asset management. The company generates maximum revenue from Banking and Finance segment. | $1 | -3% | $7.1B | $7.1B | 2.9x | - | ||
| PetroVietnam Gas JSC is a Vietnam-based company that is active in the oil and gas industry. Its activities are to collect, import, transport, store, process, distribute, trade gas and dry gas products, LNG (Liquefied Natural Gas), CNG (Compressed Natural Gas), LPG (Liquefied Petroleum Gas), and condensates for industrial and household use, as well as managing, operating, maintaining, and restoring all gas works. The company also provides services in the gas industry, such as renovating, maintaining, and restoring engines, installing conversion equipment for means of transport and agriculture, forestry, and others. Its operating business segments are: Gas and gaseous products business, which generates the maximum revenue, and Gas and gaseous products auxiliary. | $3 | +29% | $7.1B | $5.5B | 1.1x | 8.9x | ||
| Masan Consumer is a Vietnamese branded food and beverage manufacturer serving the domestic consumer market. Its operations include the production and distribution of seasonings, convenience foods and beverages. The business developed brands in fish sauce, soy sauce, chili sauce and instant noodles, and expanded its beverage activities through investments in coffee and bottled water companies. Its distribution activities connect manufactured products with retail channels and household consumers across Vietnam. Masan Consumer generates revenue principally from selling packaged food and beverage products. KKR acquired a minority equity interest in 2011 and made a further investment in 2013. Acquisitions during this period included an interest in Vinacafé Bien Hoa, stakes in Vinh Hao and subsequent expansion into additional packaged-food categories. | $5 | -- | $7B | $7B | 5.9x | 23.0x | ||
| Airports Corp. of Vietnam is engaged in managing international and domestic airports. The company is involved in investment, management of capital investments, direct manufacturing at airports, and aerodromes; Provision of services of aviation safety; Supply of technical services, science and technology services both domestic and offshore areas; and other related activities. | $2 | -23% | $5.7B | $5.6B | 5.5x | 8.4x | ||
| Petrovietnam Refining And Petrochemical Corp is focused on refining, petrochemical production, and related downstream activities at the Dung Quat refinery and associated operations. | $1 | +74% | $5.5B | $5.6B | 1.0x | 20.3x | ||
| Vinpearl JSC, along with its subsidiaries, provides short-term accommodation services including hotel business and hotel services, amusement and recreation services, domestic travel, passenger transport, restaurant and catering business, construction investment, and real estate business. It operates various hotels and resorts across Vietnam, including Hon Tam Resort, Vinepearl Resort Nha Trang, Vinepearl Wonderworld Phu Quoc, Vinepearl Cua Sot Resort, and others. The Group's operating business segments are: Business services, hotel tourism, entertainment, and related services, which derive maximum revenue; and Real estate leasing and transfer business. Geographically, it operates only in Vietnam. | $3 | -- | $5.5B | $5.6B | 9.3x | 35.7x | ||
| Vinamilk is Vietnam's leading dairy producer and a major listed consumer-products company. Founded in 1976 and headquartered in Ho Chi Minh City, it manufactures liquid milk, powdered milk, yoghurt, condensed milk, beverages, ice cream and nutritional products. The group operates dairy farms, production plants and a nationwide distribution network while exporting to dozens of markets. Revenue is generated from branded product sales to retailers, distributors, institutions and consumers. Vinamilk held an estimated 58% share of Vietnam's liquid-milk market around the 2017 strategic investment. SCIC remained its largest state shareholder while selling minority blocks to international investors. The two retained SCIC sales are secondary strategic placements in the same operating company and must use one existing Vinamilk identity. | $2 | +3% | $4.7B | $4.1B | 1.7x | 8.2x | ||
| FPT Corp provides IT and telecommunication products and services. The main products and services include Software development including software outsourcing, provision of software package and solutions, software services and ERP services; (ii) Information technology services including digital transformation consulting and IT consulting, system management, BPO service, data center service, cloud computing service, and service based on new technologies such as artificial intelligence, automation; (iii) System integration; (iv) Telecommunication services including internet services, pay television and value added services; (v) Digital content services including online advertising; and (vi) Education services at primary, high school, college, university and postgraduate levels. | $2 | -42% | $4.2B | $3.9B | 1.4x | 6.7x | ||
| Mobile World Investment Corp is a Vietnam-based company primarily trading in consumer electronic products. Its stores offer digital mobile devices such as cellphones, tablets, laptops, and accessories. The company products also include other consumer electronic goods such as television, karaoke machines, refrigerators, washing machines, rice cookers, blenders, irons, electromagnetic stoves, microwaves, and vacuum cleaners. | $3 | -11% | $4.2B | $2.9B | ||||
| VietJet Aviation JSC provides airline services. Its other services include in-flight, cargo, baggage, special and duty-free services. It also provides direct support services for air transport and air passenger transportation. | $5 | -14% | $3.8B | $6.4B | ||||
| Techcom Securities JSC is a securities firm known for its startup culture and WealthTech innovations. The company is focusing on investment and asset management products for middle-class clients, leveraging Techcombank's branch network and building online distribution channel. The company provides provide diverse investment support products and services such as stocks, derivatives, warrants, and managing open-end funds and real estate funds. | $1 | -26% | $3.6B | $3.9B | ||||
| Viet Nam Airlines JSC is an airline service provider in Vietnam. The company provides air transportation of passengers, air transportation of luggage, cargos, parcels, postal items and mails and activities of general aviation including aerial photography of the terrain, geological surveys and lead flight calibration of air stations among others. | $1 | -35% | $2.5B | $2.3B | ||||
| SSI Securities Corp provides securities services, asset management, and investment banking. Securities services are the core business line of the company with the products and services such as securities brokerage, securities depository and securities investment capital origination aimed at local, foreign retail and individual investors. Its products and services are brokerage services, IPO services, financing services, transaction support, fund management, portfolio management and value-added services, capital raising, debt instrument issuance, M&A, identifying strategic partners to equitization advisory and listing advisory. | $1 | -38% | $2.3B | $2.3B | ||||
| Saigon Beer Alcohol Beverage Corp operates in the beverage industry. The company produces and sells beer, alcohol, beverages, and related products including material and packaging materials; to provide warehousing, logistics, and transportation services; to manufacture mechanical equipment, structural steel construction, and mechanical equipment installation services; and to construct and provide real estate services. | $2 | -4% | $2.1B | $1.4B | ||||
| BaoViet Holdings is a Vietnam-based company that provides financial and securities investment services. The firm's services are classified on the basis of five major segments which include Life insurance, Non-life insurance, financial services, Banking services and Real estate operation and other activities. Further, the company has established relations with world-class insurers and reinsurers, including Munich Re, Swiss Re, CCR, Hannover Re, AON, Arthur Gallagher, and Marsh. It is engaged in offering securities brokerage services, underwriting services, custody services, investment advice to investors and trading of securities. The majority of the revenue for the company is generated through interest, dividends and appropriated profits. | $3 | +45% | $2.1B | $2.1B | ||||
| Vietnam National Petroleum Group is engaged in import, export, and deal in petroleum, refining, and petrochemical products. The firm also invests in fields like engineering, mechanical and oil equipment, insurance, banking, and other commercial activities. | $1 | +3% | $1.7B | $1.6B | ||||
| PetroVietnam Power Corp is a Vietnam-based holding company. The company is engaged in producing and trading electricity, and importing, trading, and distributing coal for thermal power plants. It is also involved in the repair, maintenance, and supply of replacement materials and equipment for an electric machine. | $0 | +7% | $1.4B | $2B | ||||
| Orient Commercial JSC is a commercial bank in Vietnam. The bank provides deposit facility, loans, insurance services, money transfer services, corporate banking services, and other related services. | $0 | -12% | $1.2B | $1.2B | ||||
| Ho Chi Minh City Securities Corporation is a professional securities brokerage firm in Vietnam. It provides a comprehensive suite of financial services to institutional & private clients. The company focuses on professional investment advisory services backed by a highly recognized research team. | $1 | +2% | $993M | $993M | ||||
| Gelex Infrastructure JSC is engaged in investing and developing in sectors such as energy, industrial real estate, social housing, construction materials, and clean water production and supply. The company owns brands such as Viglacera and Song Da Clean Water. | $1 | -- | $948M | $1.9B | ||||
| Vietcap Securities JSC is primarily engaged in the provision of financial services. The principal activities of the company are provision of securities brokerage service, proprietary securities trading, underwriting and securities custodian services, securities investment consultancy service and corporate finance consultancy service, margin lending service and derivatives trading. The company also offers individual and institutional brokerage services, such as sales and dealing, equities and fixed income, listed and OTC, IPOs, off-market, corporate access, and custody. | $1 | -30% | $842M | $842M | ||||
| Vndirect Securities Corp is engaged in the brokerage business. The company provides corporate finance consulting, self-trading, underwriting, and portfolio management. | $1 | -33% | $781M | $781M | ||||
| VNG Corp offers variety of products and services, including Online games, Communications and Media, Fintech, Cloud services, Zalo AI, and TrueID. | $22 | +53% | $659M | $576M | ||||
| VinaCapital Vietnam Opportunity Fund Ltd is a Guernsey-based investment company. Its investment objective is to achieve medium- to long-term returns through investments either in Vietnam or in companies with a substantial majority of their assets, operations, revenues, or income in, or derived from, Vietnam. The company mainly invests in listed and unlisted securities, debt instruments, private equity, real estate assets, capital markets, operating assets, private equity investments, and other net assets (including cash, cash equivalents, bonds, and short-term deposits). It holds a diversified portfolio of investments, including consumer goods, real estate, financial services, materials, energy, healthcare, and others. | $6 | -9% | $652M | $627M | ||||
| Tasco JSC is engaged in construction and engineering services. It offers construction, consultation and assembly services of civil, industrial, transportation and irrigation works. The company also produces and trades construction materials and pre-cast concrete structure. | -- | $0 | -27% | $505M | $1.4B | |||
| Binh Minh Plastics is a Vietnamese manufacturer of plastic pipes, fittings and related products for water supply, drainage, construction, agriculture and industrial applications. Founded in 1977 and based in Ho Chi Minh City, the company operates manufacturing and distribution facilities serving contractors, distributors, infrastructure projects and households. Revenue comes from sales of PVC, HDPE and polypropylene piping systems and related accessories. The company is listed in Vietnam and was a major state-capital holding managed by SCIC. Thai industrial group SCG's Nawaplastic subsidiary already owned 20.4% before SCIC's March 2018 auction. Nawaplastic acquired nearly all of SCIC's 29.51% block and raised its ownership to approximately 49.9%, turning the divestment into a strategic change in company control. | $5 | -16% | $445M | $386M | ||||
| Digiworld Corp is engaged in trading technological software products, computers and accessories, and electronic accessories, trading telephones, switchboards, and air conditioners, transferring information technology, and automatic controls and providing goods consignment agency services. The company functions in technology, healthcare and fast consumption industries. | $2 | +11% | $381M | $413M | ||||
| Vinacafé Bien Hoa is a Vietnamese manufacturer of coffee and other packaged beverages with production roots in Bien Hoa, Dong Nai. Its business originated with the Coronel coffee-processing plant established in 1968 and developed an industrial capability in soluble coffee. The company produces branded instant coffee and coffee mixes, as well as other beverage products sold to household consumers through distribution and retail channels. Its brands include Vinacafé, Wake-Up and Wake-Up 247. The company developed a nationwide distribution presence and became part of the Masan consumer-products group. Revenue is generated through sales of manufactured food and beverage products. Vinacafé Bien Hoa is distinct from Vietnam National Coffee Corporation, another enterprise that uses the Vinacafe name. | $11 | +2% | $297M | $278M | ||||
| Cmc Corp is engaged in the Information technology services and other services related to computers; Software production, providing software and content services and solutions; Manufacturing, trading, repairing machinery, electronic equipment, communications and information technology; Real estate business, land use rights of owners, service users for rent; and Telecommunications activities. | $1 | -47% | $178M | $235M | ||||
| Bamboo Capital JSC is engaged in various industries such as manufacturing and trading; investment banking; infrastructure and real estate; and renewable energy. The manufacturing field engaged in the distribution of agricultural products. Infrastructure and real estate offer systems and solutions for highway construction. The company provides renewable energy by using solar panels. | -- | -- | -- | $85M | $477M | |||
| Median | $1 | -9% | $2.5B | $2.3B | 2.7x | 9.1x |
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