VinFast Auto (VFS) Cash Flow: Operating & Free Cash Flow

VinFast Auto Cash Flow Statement Analysis

Values in trillions VND

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for VinFast Auto Ltd. (VFS) - Annual data in trillions VND
Breakdown	FY 2025	FY 2024	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Mar 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Operating Activities
Net Income	-99.58	-77.27	-77.35	-60.25	-52.96	-32.22	-18.95
Depreciation & Amortization	11.46	9.88	9.88	6.98	6.39	4.89	4.30
Deferred Income Tax	0.36	-0.09	-0.09	-0.03	1.06	0.15	0.07
Stock Based Compensation	0.11	0.08	0.08	0.15	0.00	0.00	0.00
Change in Working Capital	-0.16	2.96	2.96	-17.21	-12.40	-10.56	0.57
Change in Accounts Receivable	-3.42	-7.93	-7.93	2.80	1.22	-7.41	-0.17
Change in Inventory	-13.49	-6.75	-6.75	-13.30	-21.77	-3.86	4.08
Change in Accounts Payable	20.68	19.54	19.54	-5.12	8.64	0.76	-2.94
Change in Other Working Capital	-3.92	-1.90	-1.90	-1.59	-0.49	0.27	-0.40
Other Operating Activities	43.35	33.97	33.97	20.06	11.10	0.27	3.42
Net Cash from Operating Activities	-44.46	-30.47	-30.47	-50.27	-47.87	-28.97	-9.35
Investing Activities
Capital Expenditures	-22.98	-16.69	-16.69	-24.53	-23.34	-6.01	-9.67
Acquisitions	-5.40	-0.01	-0.01	-0.01	-0.14	-0.08	-0.04
Purchases of Investments	-0.01	-3.18	-0.02	-1.04	-0.94	-3.22	17.01
Sales/Maturities of Investments	0.00	0.00	-0.02	0.00	0.00	0.00	0.00
Other Investing Activities	-1.88	3.85	0.64	1.07	2.18	8.31	7.86
Net Cash from Investing Activities	-30.26	-16.03	-16.03	-24.42	-21.12	2.42	-1.84
Financing Activities
Debt Repayment	13.65	27.00	-71.88	-72.95	-41.64	-18.68	0.59
Common Stock Issued	63.53	21.99	21.99	28.59	6.96	9.99	9.86
Dividends Paid	0.00	0.00	-	0.00	0.00	-0.50	0.00
Other Financing Activities	0.00	0.00	-	1.42	-0.04	-0.50	9.86
Net Cash from Financing Activities	77.18	49.00	49.00	75.46	70.32	28.86	10.45
Summary
Effect of Forex Changes on Cash	0.21	-0.07	-0.07	-0.27	-0.03	-0.11	0.05
Net Change in Cash	2.67	2.43	2.43	0.50	1.29	2.31	-0.69
Cash at Beginning of Period	7.29	4.86	4.86	4.36	3.07	0.83	1.52
Cash at End of Period	9.96	7.29	7.29	4.86	4.36	3.02	0.83
Free Cash Flow	-67.44	-47.16	-47.16	-74.80	-71.21	-34.98	-19.02
Supplemental Disclosures
Interest Paid	13.19	-	9.47	8.82	5.01	2.87	3.68
Income Taxes Paid	0.06	-	0.01	0.10	0.02	0.05	0.00

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About VinFast Auto Cash Flow

What is VinFast Auto's free cash flow?

VinFast Auto had negative free cash flow of VND 67.44T in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −VND 44.46T minus VND 22.98T of capital expenditures.

How much does VinFast Auto spend on capital expenditures?

VinFast Auto spent VND 22.98T on capital expenditures in fiscal 2025, compared with VND 16.69T a year earlier.

Does VinFast Auto pay dividends or buy back shares?

VinFast Auto's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition