Vingroup Joint Stock Company (VIC) Q4 2025 earnings summary

Executive summary

• Net revenue for Q4 2025 surged 163% year-over-year, primarily driven by a significant increase in sales of inventory properties.

• Gross profit rose 303% compared to Q4 2024, reflecting strong top-line growth and improved segment performance.

• Net profit after tax attributable to equity holders increased 209% year-over-year, despite higher finance and selling expenses.

Financial highlights

• Q4 2025 net revenue: VND 163,159 billion, up from VND 62,152 billion in Q4 2024.

• Gross profit: VND 37,008 billion, up from VND 9,188 billion year-over-year.

• Net profit after tax: VND 3,581 billion, up from VND 1,208 billion in Q4 2024.

• Basic earnings per share: VND 3,271, up from VND 3,045 year-over-year.

• Total assets as of 31 Dec 2025: VND 1,121,457 billion; total equity: VND 151,455 billion.

Outlook and guidance

• Management expects continued growth in real estate sales and manufacturing, supported by ongoing project development and expansion.