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Vietnam Airlines Valuation Multiples
Discover revenue and EBITDA valuation multiples for Vietnam Airlines and similar public comparables like El Al, Air France-KLM, China Airlines, Flynas and more.
Vietnam Airlines Overview
About Vietnam Airlines
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.
Founded
1993
HQ
Employees
7.2K
Website
Sectors
Financials (LTM)
EV
$3B
Vietnam Airlines Financials
Vietnam Airlines reported last 12-month revenue of $5B and EBITDA of $556M.
In the same LTM period, Vietnam Airlines generated $556M in EBITDA and $292M in net income.
Revenue (LTM)
Vietnam Airlines P&L
In the most recent fiscal year, Vietnam Airlines reported revenue of $5B and EBITDA of $555M.
Vietnam Airlines expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $5B | XXX | $5B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $680M | XXX | XXX | XXX |
| Gross Margin | — | XXX | 14% | XXX | XXX | XXX |
| EBITDA | $556M | XXX | $555M | XXX | XXX | XXX |
| EBITDA Margin | 12% | XXX | 12% | XXX | XXX | XXX |
| EBIT Margin | 8% | XXX | 8% | XXX | XXX | XXX |
| Net Profit | $292M | XXX | $299M | XXX | XXX | XXX |
| Net Margin | 6% | XXX | 6% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Vietnam Airlines Stock Performance
Vietnam Airlines has current market cap of $3B, and enterprise value of $3B.
Market Cap Evolution
Vietnam Airlines' stock price is $1.05.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $3B | $3B | 0.0% | XXX | XXX | XXX | $0.11 |
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Vietnam Airlines trades at 0.6x EV/Revenue multiple, and 5.0x EV/EBITDA.
EV / Revenue (LTM)
Vietnam Airlines Financial Valuation Multiples
As of April 8, 2026, Vietnam Airlines has market cap of $3B and EV of $3B.
Equity research analysts estimate Vietnam Airlines' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Vietnam Airlines has a P/E ratio of 10.1x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $3B | XXX | $3B | XXX | XXX | XXX |
| EV (current) | $3B | XXX | $3B | XXX | XXX | XXX |
| EV/Revenue | 0.6x | XXX | 0.6x | XXX | XXX | XXX |
| EV/EBITDA | 5.0x | XXX | 5.0x | XXX | XXX | XXX |
| EV/EBIT | 7.3x | XXX | 7.1x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 4.1x | XXX | XXX | XXX |
| P/E | 10.1x | XXX | 9.9x | XXX | XXX | XXX |
| EV/FCF | (21.4x) | XXX | 6.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Vietnam Airlines Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Vietnam Airlines Margins & Growth Rates
Vietnam Airlines' revenue in the last 12 month grew by 7%.
Vietnam Airlines' revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $0.0M for the same period.
Vietnam Airlines' rule of 40 is 19% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Vietnam Airlines' rule of X is 30% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Vietnam Airlines Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 7% | XXX | 5% | XXX | XXX | XXX |
| EBITDA Margin | 12% | XXX | 12% | XXX | XXX | XXX |
| EBITDA Growth | 3% | XXX | 1% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 19% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 30% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.7M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.0M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 4% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 7% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Vietnam Airlines Public Comps
See public comps and valuation multiples for other Airlines comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| El Al | XXX | XXX | XXX | XXX | XXX | XXX |
| Air France-KLM | XXX | XXX | XXX | XXX | XXX | XXX |
| China Airlines | XXX | XXX | XXX | XXX | XXX | XXX |
| Flynas | XXX | XXX | XXX | XXX | XXX | XXX |
| Pegasus Airlines | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Vietnam Airlines M&A Activity
Vietnam Airlines acquired XXX companies to date.
Last acquisition by Vietnam Airlines was on XXXXXXXX, XXXXX. Vietnam Airlines acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Vietnam Airlines
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialVietnam Airlines Investment Activity
Vietnam Airlines invested in XXX companies to date.
Vietnam Airlines made its latest investment on XXXXXXXX, XXXXX. Vietnam Airlines invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Vietnam Airlines
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Vietnam Airlines
| When was Vietnam Airlines founded? | Vietnam Airlines was founded in 1993. |
| Where is Vietnam Airlines headquartered? | Vietnam Airlines is headquartered in Vietnam. |
| How many employees does Vietnam Airlines have? | As of today, Vietnam Airlines has over 7K employees. |
| Who is the CEO of Vietnam Airlines? | Vietnam Airlines' CEO is Hong Ha Le. |
| Is Vietnam Airlines publicly listed? | Yes, Vietnam Airlines is a public company listed on Hanoi Stock Exchange. |
| What is the stock symbol of Vietnam Airlines? | Vietnam Airlines trades under HVN ticker. |
| When did Vietnam Airlines go public? | Vietnam Airlines went public in 2019. |
| Who are competitors of Vietnam Airlines? | Vietnam Airlines main competitors are El Al, Air France-KLM, China Airlines, Flynas. |
| What is the current market cap of Vietnam Airlines? | Vietnam Airlines' current market cap is $3B. |
| What is the current revenue of Vietnam Airlines? | Vietnam Airlines' last 12 months revenue is $5B. |
| What is the current revenue growth of Vietnam Airlines? | Vietnam Airlines revenue growth (NTM/LTM) is 7%. |
| What is the current EV/Revenue multiple of Vietnam Airlines? | Current revenue multiple of Vietnam Airlines is 0.6x. |
| Is Vietnam Airlines profitable? | Yes, Vietnam Airlines is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Vietnam Airlines? | Vietnam Airlines' last 12 months EBITDA is $556M. |
| What is Vietnam Airlines' EBITDA margin? | Vietnam Airlines' last 12 months EBITDA margin is 12%. |
| What is the current EV/EBITDA multiple of Vietnam Airlines? | Current EBITDA multiple of Vietnam Airlines is 5.0x. |
| What is the current FCF of Vietnam Airlines? | Vietnam Airlines' last 12 months FCF is ($129M). |
| What is Vietnam Airlines' FCF margin? | Vietnam Airlines' last 12 months FCF margin is (3%). |
| What is the current EV/FCF multiple of Vietnam Airlines? | Current FCF multiple of Vietnam Airlines is (21.4x). |
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