Vingroup - Public Comps and Valuation Multiples

Vingroup Overview

About Vingroup

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.

Founded

2002

HQ

Employees

466

Website

vingroup.net

Sectors

Real Estate Development

Financials

LTM Revenue $9.8B

LTM EBITDA $1.4B

EV

$26.6B

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Vingroup Financials

As of August 2025, Vingroup reported last 12-month revenue of $9.8B and EBITDA of $1.4B.

In the same period, Vingroup generated $2.0B in LTM gross profit and $490M in net income.

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Vingroup P&L

In the most recent fiscal year, Vingroup reported revenue of $7.2B and EBITDA of $2.3B.

Vingroup expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$9.8B	XXX	$7.2B	XXX	XXX	XXX
Gross Profit	$2.0B	XXX	$1.0B	XXX	XXX	XXX
Gross Margin	20%	XXX	14%	XXX	XXX	XXX
EBITDA	$1.4B	XXX	$2.3B	XXX	XXX	XXX
EBITDA Margin	14%	XXX	32%	XXX	XXX	XXX
EBIT	$348M	XXX	$93.5M	XXX	XXX	XXX
EBIT Margin	4%	XXX	1%	XXX	XXX	XXX
Net Profit	$490M	XXX	$452M	XXX	XXX	XXX
Net Margin	5%	XXX	6%	XXX	XXX	XXX
Net Debt	XXX	XXX	$7.0B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Vingroup including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $9.8B. EBITDA for the last twelve months was $1.4B. In the most recent fiscal year, Vingroup achieved $7.2B in revenue and $2.3B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$9.8B	Analyst estimates available to subscribers	$7.2B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$2.0B	Analyst estimates available to subscribers	$1.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	19.9% gross margin	Analyst estimates available to subscribers	14.4% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$1.4B	Analyst estimates available to subscribers	$2.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	14.0% EBITDA margin	Analyst estimates available to subscribers	31.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$348M	Analyst estimates available to subscribers	$93.5M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	3.5% EBIT margin	Analyst estimates available to subscribers	1.3% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$490M	Analyst estimates available to subscribers	$452M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	5.0% net profit margin	Analyst estimates available to subscribers	6.3% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$7.0B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Vingroup

This financial data table provides comprehensive performance metrics for Vingroup, a company based in Viet Nam. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Vingroup generated $9.8B in revenue over the last twelve months.
The company achieved $1.4B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $2.0B.
Net income over the last twelve months reached $490M.

Fiscal Year Performance

In the most recent fiscal year, Vingroup reported $7.2B in total revenue.
Fiscal year EBITDA was $2.3B.
The company maintained a gross profit margin of 14.4% in the most recent fiscal year.
EBITDA margin for the fiscal year was 31.8%.
Net profit margin reached 6.3% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Vingroup. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Vingroup Stock Performance

Vingroup has current market cap of VND 502.20T (or $19.1B), and EV of VND 701.14T (or $26.6B).

Market Cap Evolution

Vingroup Stock Data

As of September 17, 2025, Vingroup's stock price is VND 135000 (or $5).

See Vingroup trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$26.6B	$19.1B	XXX	XXX	XXX	XXX	$0.14

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Vingroup Valuation Multiples

Vingroup's trades at 3.7x EV/Revenue multiple, and 11.7x EV/EBITDA.

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Vingroup Financial Valuation Multiples

As of September 17, 2025, Vingroup has market cap of $19.1B and EV of $26.6B.

Equity research analysts estimate Vingroup's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Vingroup has a P/E ratio of 38.9x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$19.1B	XXX	$19.1B	XXX	XXX	XXX
EV (current)	$26.6B	XXX	$26.6B	XXX	XXX	XXX
EV/Revenue	2.7x	XXX	3.7x	XXX	XXX	XXX
EV/EBITDA	19.4x	XXX	11.7x	XXX	XXX	XXX
EV/EBIT	76.5x	XXX	284.5x	XXX	XXX	XXX
EV/Gross Profit	13.6x	XXX	n/a	XXX	XXX	XXX
P/E	38.9x	XXX	42.2x	XXX	XXX	XXX
EV/FCF	-31.9x	XXX	-25.3x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Vingroup Margins & Growth Rates

Vingroup's last 12 month revenue growth is 12%

Vingroup's revenue per employee in the last FY averaged $15.4M, while opex per employee averaged $2.0M for the same period.

Vingroup's rule of 40 is 41% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Vingroup's rule of X is 44% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Vingroup Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	12%	XXX	24%	XXX	XXX	XXX
EBITDA Margin	14%	XXX	32%	XXX	XXX	XXX
EBITDA Growth	16%	XXX	-3%	XXX	XXX	XXX
Rule of 40	41%	XXX	44%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	44%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$15.4M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$2.0M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	9%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	1%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	13%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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