A Look at VinFast (NasdaqGS:VFS) Valuation Following 100,000 Vehicle Delivery Milestone and Upbeat Analyst Outlook

VinFast Auto (NasdaqGS:VFS) just revealed it crossed the 100,000-vehicle mark in Vietnam for the first nine months of this year, reflecting accelerating demand and strong operational momentum.

See our latest analysis for VinFast Auto.

VinFast's headline-grabbing milestone comes alongside a busy period of executive appointments and robust revenue growth, even as operating losses widened. While the stock’s 1-year total shareholder return of -21.9% has lagged, recent stability in the share price suggests investors see potential in the company's aggressive expansion and future EV ambitions.

If VinFast’s breakthrough has you looking for what’s next in the auto industry, you can compare industry peers by checking out See the full list for free.

With shares still trading well below analyst price targets despite a strong operational showing and upbeat forecasts, investors may be wondering whether VinFast is undervalued at current levels or if the market is already factoring in its ambitious growth plans.

Most Popular Narrative: 44.5% Undervalued

With the narrative consensus fair value of $5.83 nearly 45% above VinFast’s last close at $3.24, there is clear conviction among followers that the company’s transformative ambitions are not yet fully priced in by the market. The narrative points to fast-changing industry dynamics and bold internal strategy as the backdrop for this disconnect.

The rollout of dedicated VinFast charging infrastructure and ecosystem partnerships (GSM and V-GREEN) in Southeast Asia and beyond directly addresses the primary consumer barrier to EV adoption. This supports higher demand, increased deliveries, and ultimately greater revenue scale.

Read the complete narrative.

Curious what powers that big fair value jump? The narrative leans into expectations of rapid growth and foundational profitability changes. Interested in uncovering which assumption really moves the needle for bulls? The full story unpacks the forecasts and underlying math driving this eye-catching valuation.

Result: Fair Value of $5.83 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, sustained negative gross margins and reliance on ongoing financial support could challenge VinFast’s growth story if these issues are not addressed.

Find out about the key risks to this VinFast Auto narrative.

Another View: Risk from Expensive Multiples

While the fair value calculation suggests upside, looking at the price-to-sales ratio paints a different picture. VinFast trades at 3x sales, which is much steeper than the 1.9x peer average and the 0.2x fair ratio. This gap implies a notable valuation risk if investor optimism fades. Could the stock re-rate toward a lower multiple?

See what the numbers say about this price — find out in our valuation breakdown.

Build Your Own VinFast Auto Narrative

If this perspective doesn't quite fit your own, or you like to dig into the numbers yourself, you can craft a personalized view in just a few minutes. Do it your way

A great starting point for your VinFast Auto research is our analysis highlighting 2 key rewards and 3 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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