Reported Earnings • Aug 01
Second quarter 2026 earnings released: EPS: ₫1,331 (vs ₫126 loss in 2Q 2025) Second quarter 2026 results: EPS: ₫1,331 (up from ₫126 loss in 2Q 2025). Revenue: ₫118t (up 154% from 2Q 2025). Net income: ₫10t (up ₫11t from 2Q 2025). Profit margin: 8.5% (up from net loss in 2Q 2025). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 90% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 14
Vingroup Joint Stock Company Appoints Nguyen Viet Quang as Chief Executive Officer, Effective July 10, 2026 Vingroup Joint Stock Company announced the appointment of Mr. Nguyen Viet Quang as Chief Executive Officer for the tenure 2026 - 2031. Effective date: July 10, 2026. Former position in the organization: Vice Chairman of the BOD, CEO. Price Target Changed • Jun 16
Price target increased by 8.3% to ₫110,000 Up from ₫101,600, the current price target is provided by 1 analyst. New target price is 43% below last closing price of ₫194,000. Stock is up 342% over the past year. The company is forecast to post earnings per share of ₫3,529 for next year compared to ₫1,432 last year. Announcement • Apr 13
Vingroup Joint Stock Company, Annual General Meeting, Apr 22, 2026 Vingroup Joint Stock Company, Annual General Meeting, Apr 22, 2026, at 09:00 SE Asia Standard Time. Major Estimate Revision • Apr 07
Consensus EPS estimates fall by 20%, revenue upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from ₫369t to ₫382t. EPS estimate fell from ₫1,829 to ₫1,472 per share. Net income forecast to grow 4.5% next year vs 15% growth forecast for Real Estate industry in Vietnam. Consensus price target down from ₫105,000 to ₫101,600. Share price rose 6.2% to ₫143,400 over the past week. Reported Earnings • Mar 30
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ₫1,432 (down from ₫1,523 in FY 2024). Revenue: ₫332t (up 76% from FY 2024). Net income: ₫11t (down 5.7% from FY 2024). Profit margin: 3.2% (down from 6.0% in FY 2024). Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 95%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₫124,000, the stock trades at a forward P/E ratio of 68x. Average forward P/E is 11x in the Real Estate industry in Vietnam. Total returns to shareholders of 364% over the past three years. New Risk • Dec 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 7.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.4% average weekly change). Minor Risks High level of debt (151% net debt to equity). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: ₫171 (vs ₫1,423 in 3Q 2024) Third quarter 2025 results: EPS: ₫171 (down from ₫1,423 in 3Q 2024). Revenue: ₫39t (down 38% from 3Q 2024). Net income: ₫640.2b (down 88% from 3Q 2024). Profit margin: 1.6% (down from 8.4% in 3Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₫211,900, the stock trades at a forward P/E ratio of 60x. Average forward P/E is 22x in the Real Estate industry in Vietnam. Total returns to shareholders of 263% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫172,800, the stock trades at a forward P/E ratio of 49x. Average forward P/E is 23x in the Real Estate industry in Vietnam. Total returns to shareholders of 211% over the past three years. Reported Earnings • Sep 06
Second quarter 2025 earnings released: ₫337 loss per share (vs ₫949 loss in 2Q 2024) Second quarter 2025 results: ₫337 loss per share (improved from ₫949 loss in 2Q 2024). Revenue: ₫46t (up 9.7% from 2Q 2024). Net loss: ₫1.25t (loss narrowed 65% from 2Q 2024). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Sep 04
Consensus revenue estimates increase by 30% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from ₫226t to ₫294t. EPS estimate unchanged at ₫3,460. Net income forecast to shrink 1.5% next year vs 14% growth forecast for Real Estate industry in Vietnam . Consensus price target up from ₫90,300 to ₫127,900. Share price fell 3.9% to ₫125,000 over the past week. Reported Earnings • Aug 02
Second quarter 2025 earnings released: ₫156 loss per share (vs ₫946 loss in 2Q 2024) Second quarter 2025 results: ₫156 loss per share (improved from ₫946 loss in 2Q 2024). Revenue: ₫46t (up 9.4% from 2Q 2024). Net loss: ₫581.0b (loss narrowed 84% from 2Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 9.0% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₫108,000, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 25x in the Real Estate industry in Vietnam. Total returns to shareholders of 55% over the past three years. New Risk • Jul 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 7.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). Share price has been highly volatile over the past 3 months (7.6% average weekly change). Earnings are forecast to decline by an average of 21% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.1% net profit margin). Announcement • Jun 05
Vingroup Reportedly Seeks Private Loan to Buy KKR's Stake in Vinschool Vietnamese conglomerate Vingroup Joint Stock Company (HOSE:VIC) is seeking a around $300 million private credit loan to purchase KKR & Co. Inc. (NYSE:KKR)’s stake of about 38% in its education subsidiary Vinschool One-Member Company Limited, according to sources familiar with the matter. UBS is approaching private credit funds to garner interest for the proposed loan, the sources said, who asked not to be identified discussing private matters. If the deal materialises, it will help KKR exit its investment in Vinschool. KKR, UBS and Vingroup declined to comment. Vingroup has tapped the private debt markets before. In 2023, its real estate arm Vinhomes JSC obtained a $250 million private loan from a group of lenders including SeaTown Holdings International, Deutsche Bank, Tahan Capital and Varde Partners, Bloomberg News reported. Price Target Changed • May 29
Price target increased by 107% to ₫90,300 Up from ₫43,700, the current price target is provided by 1 analyst. New target price is 6.9% below last closing price of ₫97,000. Stock is up 125% over the past year. The company is forecast to post earnings per share of ₫3,475 for next year compared to ₫3,045 last year. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₫93,500, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 20x in the Real Estate industry in Vietnam. Total returns to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₫68,000, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 19x in the Real Estate industry in Vietnam. Total loss to shareholders of 15% over the past three years. New Risk • Apr 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.2% operating cash flow to total debt). Earnings are forecast to decline by an average of 31% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₫69,600, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 22x in the Real Estate industry in Vietnam. Total loss to shareholders of 12% over the past three years. New Risk • Apr 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 169% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.2% operating cash flow to total debt). Earnings are forecast to decline by an average of 31% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • Apr 06
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ₫3,045 (up from ₫565 in FY 2023). Revenue: ₫189t (up 17% from FY 2023). Net income: ₫11t (up 441% from FY 2023). Profit margin: 6.0% (up from 1.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 24%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Apr 05
Vingroup Joint Stock Company, Annual General Meeting, Apr 24, 2025 Vingroup Joint Stock Company, Annual General Meeting, Apr 24, 2025, at 09:00 SE Asia Standard Time. Location: almaz convention center, hoa lan street, vinhomes riverside urban area, phuc loi ward, long bien district, hanoi, Vietnam Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₫51,400, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 25x in the Real Estate industry in Vietnam. Total loss to shareholders of 34% over the past three years. Announcement • Feb 27
Vingroup Joint Stock Company Announces Discharge of Ms. Chun Chae Rhan from the Position of Member of Board of Directors Vingroup Joint Stock Company announced the discharge of Ms. Chun Chae Rhan From the position of a member of board of directors. Major Estimate Revision • Feb 25
Consensus revenue estimates increase by 17% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from ₫154t to ₫180t. EPS estimate increased from ₫1,177 to ₫3,181 per share. Net income forecast to grow 0.8% next year vs 8.8% growth forecast for Real Estate industry in Vietnam. Consensus price target broadly unchanged at ₫43,700. Share price was steady at ₫40,700 over the past week. New Risk • Feb 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 32% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.9% operating cash flow to total debt). Earnings are forecast to decline by an average of 32% per year for the foreseeable future. Announcement • Dec 06
NVIDIA Corporation (NasdaqGS:NVDA) acquired VinBrain LLC from Vingroup Joint Stock Company (HOSE:VIC) and others. NVIDIA Corporation (NasdaqGS:NVDA) acquired VinBrain LLC from Vingroup Joint Stock Company (HOSE:VIC) and others on December 5, 2024.
NVIDIA Corporation (NasdaqGS:NVDA) Completed the acquisition of VinBrain LLC from Vingroup Joint Stock Company (HOSE:VIC) and others on December 5, 2024. Price Target Changed • Nov 27
Price target decreased by 9.8% to ₫43,100 Down from ₫47,800, the current price target is provided by 1 analyst. New target price is 5.8% above last closing price of ₫40,750. Stock is down 4.2% over the past year. The company is forecast to post earnings per share of ₫645 for next year compared to ₫565 last year. Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: ₫1,423 (vs ₫180 loss in 3Q 2023) Third quarter 2024 results: EPS: ₫1,423 (up from ₫180 loss in 3Q 2023). Revenue: ₫63t (up 31% from 3Q 2023). Net income: ₫5.29t (up ₫5.96t from 3Q 2023). Profit margin: 8.4% (up from net loss in 3Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 17% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 20
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₫191t to ₫168t. EPS estimate fell from ₫726 to ₫699 per share. Net income forecast to shrink 21% next year vs 37% growth forecast for Real Estate industry in Vietnam . Consensus price target down from ₫47,800 to ₫44,600. Share price rose 2.5% to ₫41,700 over the past week. Major Estimate Revision • Aug 20
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₫191t to ₫168t. EPS estimate fell from ₫726 to ₫699 per share. Net income forecast to shrink 21% next year vs 37% growth forecast for Real Estate industry in Vietnam . Consensus price target down from ₫47,800 to ₫44,600. Share price rose 2.5% to ₫41,700 over the past week. Major Estimate Revision • Aug 20
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₫191t to ₫168t. EPS estimate fell from ₫726 to ₫699 per share. Net income forecast to shrink 21% next year vs 37% growth forecast for Real Estate industry in Vietnam . Consensus price target down from ₫47,800 to ₫44,600. Share price rose 2.5% to ₫41,700 over the past week. Major Estimate Revision • Aug 20
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₫191t to ₫168t. EPS estimate fell from ₫726 to ₫699 per share. Net income forecast to shrink 21% next year vs 37% growth forecast for Real Estate industry in Vietnam . Consensus price target down from ₫47,800 to ₫44,600. Share price rose 2.5% to ₫41,700 over the past week. Major Estimate Revision • Aug 20
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₫191t to ₫168t. EPS estimate fell from ₫726 to ₫699 per share. Net income forecast to shrink 21% next year vs 37% growth forecast for Real Estate industry in Vietnam . Consensus price target down from ₫47,800 to ₫44,600. Share price rose 2.5% to ₫41,700 over the past week. Reported Earnings • Jul 24
Second quarter 2024 earnings released: ₫915 loss per share (vs ₫492 profit in 2Q 2023) Second quarter 2024 results: ₫915 loss per share (down from ₫492 profit in 2Q 2023). Revenue: ₫43t (down 8.4% from 2Q 2023). Net loss: ₫3.40t (down 287% from profit in 2Q 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Major Estimate Revision • Jun 04
Consensus EPS estimates increase by 13%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ₫195t to ₫191t. EPS estimate rose from ₫642 to ₫726. Net income forecast to shrink 69% next year vs 43% growth forecast for Real Estate industry in Vietnam . Consensus price target of ₫49,500 unchanged from last update. Share price fell 2.1% to ₫44,100 over the past week. Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: ₫2,133 (vs ₫287 in 1Q 2023) First quarter 2024 results: EPS: ₫2,133 (up from ₫287 in 1Q 2023). Revenue: ₫22t (down 44% from 1Q 2023). Net income: ₫7.93t (up ₫6.87t from 1Q 2023). Profit margin: 37% (up from 2.7% in 1Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Announcement • Apr 09
Vingroup Joint Stock Company, Annual General Meeting, Apr 25, 2024 Vingroup Joint Stock Company, Annual General Meeting, Apr 25, 2024, at 02:00 Coordinated Universal Time. Location: Almaz Convention Center, Hoa Lan street, Vinhomes Riverside, Phuc Loi ward, Long Bien district, Hanoi Vietnam Announcement • Mar 26
An undisclosed buyer agreed to acquire a 99% stake in SADO Trading Commercial JSC from Vingroup Joint Stock Company (HOSE:VIC) An undisclosed buyer agreed to acquire a 99% stake in SADO Trading Commercial JSC from Vingroup Joint Stock Company (HOSE:VIC) on March 17, 2024. Major Estimate Revision • Mar 14
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ₫191t to ₫195t. EPS estimate increased from ₫548 to ₫642 per share. Net income forecast to grow 16% next year vs 14% growth forecast for Real Estate industry in Vietnam. Consensus price target of ₫49,500 unchanged from last update. Share price was steady at ₫45,950 over the past week. Reported Earnings • Feb 03
Full year 2023 earnings: EPS in line with expectations, revenues disappoint Full year 2023 results: EPS: ₫555 (down from ₫2,367 in FY 2022). Revenue: ₫162t (up 59% from FY 2022). Net income: ₫2.06t (down 77% from FY 2022). Profit margin: 1.3% (down from 8.6% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Nov 21
Consensus revenue estimates increase by 10%, EPS downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from ₫161t to ₫177t. EPS estimate fell from ₫1,074 to ₫554. Net income forecast to shrink 52% next year vs 20% growth forecast for Real Estate industry in Vietnam . Consensus price target down from ₫79,300 to ₫49,500. Share price fell 5.2% to ₫42,600 over the past week. Price Target Changed • Nov 20
Price target decreased by 35% to ₫49,500 Down from ₫76,100, the current price target is provided by 1 analyst. New target price is 16% above last closing price of ₫42,700. Stock is down 33% over the past year. The company is forecast to post earnings per share of ₫554 for next year compared to ₫2,367 last year. Reported Earnings • Oct 26
Third quarter 2023 earnings released: ₫181 loss per share (vs ₫255 profit in 3Q 2022) Third quarter 2023 results: ₫181 loss per share (down from ₫255 profit in 3Q 2022). Revenue: ₫48t (up 67% from 3Q 2022). Net loss: ₫669.0b (down 171% from profit in 3Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₫45,200, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 14x in the Real Estate industry in Vietnam. Total loss to shareholders of 44% over the past three years. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₫62,200, the stock trades at a forward P/E ratio of 56x. Average forward P/E is 16x in the Real Estate industry in Vietnam. Total loss to shareholders of 20% over the past three years. Reported Earnings • Aug 01
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ₫47t (up 252% from 2Q 2022). Net income: ₫1.87t (down 45% from 2Q 2022). Profit margin: 4.0% (down from 25% in 2Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Major Estimate Revision • May 24
Consensus EPS estimates fall by 55% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₫168t to ₫165t. EPS estimate also fell from ₫2,556 per share to ₫1,160 per share. Net income forecast to shrink 42% next year vs 25% growth forecast for Real Estate industry in Vietnam . Consensus price target down from ₫94,900 to ₫76,100. Share price was steady at ₫52,600 over the past week. Price Target Changed • May 23
Price target decreased by 15% to ₫76,100 Down from ₫89,400, the current price target is provided by 1 analyst. New target price is 45% above last closing price of ₫52,600. Stock is down 32% over the past year. The company is forecast to post earnings per share of ₫1,160 for next year compared to ₫2,367 last year. Reported Earnings • Apr 07
Full year 2022 earnings released: EPS: ₫2,251 (vs ₫685 loss in FY 2021) Full year 2022 results: EPS: ₫2,251 (up from ₫685 loss in FY 2021). Revenue: ₫102t (down 19% from FY 2021). Net income: ₫8.35t (up ₫11t from FY 2021). Profit margin: 8.2% (up from net loss in FY 2021). The move to profitability was driven by lower expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 03
Full year 2022 earnings released: EPS: ₫2,251 (vs ₫685 loss in FY 2021) Full year 2022 results: EPS: ₫2,251 (up from ₫685 loss in FY 2021). Revenue: ₫102t (down 19% from FY 2021). Net income: ₫8.35t (up ₫11t from FY 2021). Profit margin: 8.2% (up from net loss in FY 2021). The move to profitability was driven by lower expenses. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Dec 22
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from ₫143t to ₫115t. EPS estimate increased from ₫2,673 to ₫2,945 per share. Net income forecast to grow 664% next year vs 51% growth forecast for Real Estate industry in Vietnam. Consensus price target down from ₫112,000 to ₫89,400. Share price fell 9.4% to ₫54,900 over the past week. Price Target Changed • Dec 21
Price target decreased to ₫89,400 Down from ₫116,500, the current price target is provided by 1 analyst. New target price is 63% above last closing price of ₫54,900. Stock is down 45% over the past year. The company is forecast to post earnings per share of ₫2,945 next year compared to a net loss per share of ₫685 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Adil Ahmad was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 03
Third quarter 2022 earnings released: EPS: ₫255 (vs ₫96.45 loss in 3Q 2021) Third quarter 2022 results: EPS: ₫255 (up from ₫96.45 loss in 3Q 2021). Revenue: ₫29t (down 4.5% from 3Q 2021). Net income: ₫946.8b (up ₫1.30t from 3Q 2021). Profit margin: 3.3% (up from net loss in 3Q 2021). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 29% growth forecast for the Real Estate industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 30
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: ₫14t (down 63% from 2Q 2021). Net income: ₫3.19t (up 120% from 2Q 2021). Profit margin: 23% (up from 3.9% in 2Q 2021). Over the next year, revenue is forecast to grow 102%, compared to a 81% growth forecast for the industry in Vietnam. Price Target Changed • May 11
Price target decreased to ₫105,233 Down from ₫116,500, the current price target is an average from 3 analysts. New target price is 31% above last closing price of ₫80,400. Stock is down 30% over the past year. The company is forecast to post earnings per share of ₫1,514 next year compared to a net loss per share of ₫685 last year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 1 experienced director. 10 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Marc Townsend was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 20
Vingroup Joint Stock Company, Annual General Meeting, May 11, 2022 Vingroup Joint Stock Company, Annual General Meeting, May 11, 2022, at 09:00 SE Asia Standard Time. Location: Vingroup Head Office, No. 7 Bank Land 1 Street, Vinhomes Riverside Ecological Urban Area, Viet Hung Ward, Long Bien Disctrict Hanoi Vietnam Announcement • Mar 31
An unknown buyer acquired an unknow stake in One Mount Group from Vingroup Joint Stock Company (HOSE:VIC). An unknown buyer acquired an unknow stake in One Mount Group from Vingroup Joint Stock Company (HOSE:VIC) on March 30, 2022. Vingroup is no longer the parent company of One Mount Group.
An unknown buyer completed the acquisition of an unknow stake in One Mount Group from Vingroup Joint Stock Company (HOSE:VIC) on March 30, 2022. Price Target Changed • Dec 04
Price target increased to ₫116,500 Up from ₫106,037, the current price target is an average from 2 analysts. New target price is 10% above last closing price of ₫105,500. Stock is up 12% over the past year. The company is forecast to post earnings per share of ₫1,196 for next year compared to ₫1,503 last year. Major Estimate Revision • Dec 04
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from ₫1,769 to ₫1,196 per share. Revenue forecast steady at ₫136t. Net income forecast to shrink 15% next year vs 25% growth forecast for Real Estate industry in Vietnam . Consensus price target up from ₫106,037 to ₫116,500. Share price rose 7.1% to ₫105,500 over the past week. Announcement • Dec 01
Vingroup Reportedly Tapping Global Investors for Car Unit's Funding Vingroup Joint Stock Company (HOSE:VIC) is in talks with investors, including Qatar's sovereign fund and BlackRock, Inc. (NYSE:BLK), to raise about $1 billion in equity for its car unit, VinFast Trading and Production LLC, three sources aware of the matter said. Vingroup is in discussions for the fundraising ahead of VinFast's potential U.S. listing that could take place as early as next year, said the sources, who declined to be identified as negotiations are still ongoing. read more They said the company could finalise the private fundraising deal as early as in December 2021. Vingroup is also in talks with global private equity firms. The sources said Vingroup is in advanced talks with Qatar Investment Authority (QIA). Vingroup declined to comment while there was no response from QIA. BlackRock did not immediately respond to a request for comment. VinFast plans a U.S. listing within the next couple of years, its chief executive told Reuters earlier this month, aiming to join a growing list of electric vehicle startups that have taken advantage of investor enthusiasm and raised money. Two sources told Reuters that VinFast was sticking to a previous plan of either listing via a special purpose acquisition company (SPAC) or making a standalone listing. Price Target Changed • Nov 19
Price target decreased to ₫106,037 Down from ₫118,806, the current price target is an average from 3 analysts. New target price is 12% above last closing price of ₫94,800. Stock is up 2.7% over the past year. The company is forecast to post earnings per share of ₫1,511 for next year compared to ₫1,503 last year. Reported Earnings • Nov 05
Third quarter 2021 earnings released: ₫144 loss per share (vs ₫424 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ₫30t (down 16% from 3Q 2020). Net loss: ₫351.3b (down 123% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 19
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from ₫1,594 to ₫2,051. Revenue forecast unchanged at ₫143t. Net income forecast to grow 3.5% next year vs 4.6% growth forecast for Real Estate industry in Vietnam. Consensus price target broadly unchanged at ₫119,111. Share price rose 5.3% to ₫104,000 over the past week. Reported Earnings • Jul 31
Second quarter 2021 earnings released The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ₫38t (up 65% from 2Q 2020). Net income: ₫1.21t (down 41% from 2Q 2020). Profit margin: 3.2% (down from 8.8% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Major Estimate Revision • Jun 05
Consensus EPS estimates fall to ₫1,399 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from ₫142t to ₫134t. EPS estimate also fell from ₫2,386 to ₫1,399. Net income forecast to shrink 22% next year vs 22% growth forecast for Real Estate industry in Vietnam . Consensus price target broadly unchanged at ₫128,100. Share price was steady at ₫121,000 over the past week. Price Target Changed • Apr 25
Price target increased to ₫126,500 Up from ₫109,875, the current price target is an average from 5 analysts. New target price is 8.5% below last closing price of ₫138,300. Stock is up 49% over the past year. Major Estimate Revision • Mar 11
Analysts lower EPS estimates to ₫2,289 The 2021 consensus revenue estimate was lowered from ₫160t to ₫147t. Earning per share (EPS) estimate was also lowered from ₫2,700 to ₫2,289 for the same period. Net income is expected to grow by 37% next year compared to 23% growth forecast for the Real Estate industry in Vietnam. The consensus price target increased from ₫109,875 to ₫114,125. Share price stayed mostly flat at ₫105,900 over the past week. Price Target Changed • Mar 09
Price target raised to ₫111,125 Up from ₫103,667, the current price target is an average from 4 analysts. The new target price is 6.5% above the current share price of ₫104,300. As of last close, the stock is up 6.8% over the past year. Reported Earnings • Feb 04
Full year 2020 earnings released: EPS ₫1,586 (vs ₫2,433 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₫110t (down 15% from FY 2019). Net income: ₫5.13t (down 32% from FY 2019). Profit margin: 4.6% (down from 5.8% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 17% per year. Analyst Estimate Surprise Post Earnings • Feb 04
Revenue and earnings miss expectations Revenue missed analyst estimates by 7.8%. Earnings per share (EPS) also missed analyst estimates by 16%. Over the next year, revenue is forecast to grow 32%, compared to a 39% growth forecast for the Real Estate industry in Vietnam. Is New 90 Day High Low • Jan 27
New 90-day low: ₫100,000 The company is down 1.0% from its price of ₫100,700 on 29 October 2020. The Vietnamese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫149,776 per share. Is New 90 Day High Low • Jan 05
New 90-day high: ₫109,700 The company is up 19% from its price of ₫92,500 on 07 October 2020. The Vietnamese market is up 20% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Dec 14
New 90-day high: ₫108,900 The company is up 15% from its price of ₫95,000 on 15 September 2020. The Vietnamese market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Nov 12
New 90-day high: ₫106,800 The company is up 22% from its price of ₫87,400 on 14 August 2020. The Vietnamese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Analyst Estimate Surprise Post Earnings • Nov 04
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 21%. Earnings per share (EPS) also surpassed analyst estimates by 67%. Over the next year, revenue is forecast to grow 38%, compared to a 59% growth forecast for the Real Estate industry in Vietnam. Reported Earnings • Nov 04
Third quarter 2020 earnings released: EPS ₫476 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₫36t (up 14% from 3Q 2019). Net income: ₫1.54t (up 210% from 3Q 2019). Profit margin: 4.3% (up from 1.6% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 24% per year. Is New 90 Day High Low • Oct 15
New 90-day high: ₫97,500 The company is up 7.0% from its price of ₫91,500 on 17 July 2020. The Vietnamese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Sep 21
New 90-day high: ₫96,000 The company is up 2.0% from its price of ₫94,200 on 23 June 2020. The Vietnamese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. 
