Vietnam Airlines JSC (HVN) - Net Assets

Latest as of June 2025: ₫-3.10 Trillion VND ≈ $-117.78 Million USD

Based on the latest financial reports, Vietnam Airlines JSC (HVN) has net assets worth ₫-3.10 Trillion VND (≈ $-117.78 Million USD) as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₫62.24 Trillion ≈ $2.36 Billion USD) and total liabilities (₫65.34 Trillion ≈ $2.48 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Vietnam Airlines JSC liquid asset ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	₫-3.10 Trillion
% of Total Assets	-4.98%
Annual Growth Rate	N/A
5-Year Change	-253.88%
10-Year Change	N/A
Growth Volatility	1003.97

Vietnam Airlines JSC - Net Assets Trend (2019–2024)

This chart illustrates how Vietnam Airlines JSC's net assets have evolved over time, based on quarterly financial data. Also explore HVN asset base for the complete picture of this company's asset base.

Annual Net Assets for Vietnam Airlines JSC (2019–2024)

The table below shows the annual net assets of Vietnam Airlines JSC from 2019 to 2024. For live valuation and market cap data, see how much is Vietnam Airlines JSC worth.

Year	Net Assets	Change
2024-12-31	₫-9.34 Trillion ≈ $-355.02 Million	+45.12%
2023-12-31	₫-17.03 Trillion ≈ $-646.88 Million	-54.00%
2022-12-31	₫-11.06 Trillion ≈ $-420.05 Million	-2209.00%
2021-12-31	₫524.21 Billion ≈ $19.92 Million	-91.37%
2020-12-31	₫6.07 Trillion ≈ $230.71 Million	-67.37%
2019-12-31	₫18.61 Trillion ≈ $706.97 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Vietnam Airlines JSC's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 1084.6% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Other Components	₫23.60 Trillion	%
Total Equity	₫-10.02 Trillion	100.00%

Vietnam Airlines JSC Competitors by Market Cap

The table below lists competitors of Vietnam Airlines JSC ranked by their market capitalization.

Company	Market Cap
Clariant AG SW:CLN	$2.41 Billion
Also Holding AG SW:ALSN	$2.41 Billion
Zhejiang Huace Film TV Co SHE:300133	$2.41 Billion
Hyundai Elevator KO:017800	$2.41 Billion
Sixt SE XETRA:SIX2	$2.41 Billion
Carmila SA PA:CARM	$2.41 Billion
CA Immobilien Anlagen AG VI:CAI	$2.41 Billion
Siriuspoint Ltd NYSE:SPNT	$2.41 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Vietnam Airlines JSC's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from -17,515,195,384,526 to -10,016,715,152,505, a change of 7,498,480,232,021.
Net income of 7,564,092,019,695 contributed positively to equity growth.
Dividend payments of 220,153,054,883 reduced retained earnings.
Other factors increased equity by 154,541,267,209.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	₫7.56 Trillion	+75.51%
Dividends Paid	₫220.15 Billion	-2.2%
Other Changes	₫154.54 Billion	+1.54%
Total Change	₫-	%

Book Value vs Market Value Analysis

This analysis compares Vietnam Airlines JSC's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2019-12-31	₫10119.57	₫22600.00	x
2020-12-31	₫3530.32	₫22600.00	x
2021-12-31	₫680.28	₫22600.00	x
2022-12-31	₫-5221.70	₫22600.00	x
2023-12-31	₫-6234.30	₫22600.00	x
2024-12-31	₫-3565.31	₫22600.00	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Vietnam Airlines JSC utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 0.00%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 7.14%
• Asset Turnover: 1.82x
• Equity Multiplier: 0.00x
Recent ROE (0.00%) is above the historical average (-169.41%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2019	12.93%	2.39%	1.28x	4.21x	₫531.08 Billion
2020	-172.60%	-26.95%	0.65x	9.88x	₫-11.56 Trillion
2021	-856.81%	-46.24%	0.44x	41.86x	₫-13.06 Trillion
2022	0.00%	-16.05%	1.16x	0.00x	₫-10.14 Trillion
2023	0.00%	-6.48%	1.59x	0.00x	₫-4.18 Trillion
2024	0.00%	7.14%	1.82x	0.00x	₫8.57 Trillion

Industry Comparison

This section compares Vietnam Airlines JSC's net assets metrics with peer companies in the Airlines industry.

Industry Context

Industry: Airlines
Average net assets among peers: $14,902,831,830,061
Average return on equity (ROE) among peers: 25.54%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Vietnam Airlines JSC (HVN)	₫-3.10 Trillion	12.93%	N/A	$2.41 Billion
Vietjet Aviation JSC (VJC)	$14.90 Trillion	25.54%	2.28x	$4.05 Billion

About Vietnam Airlines JSC

VN:HVN Vietnam Airlines

Market Cap

$2.41 Billion

₫63.49 Trillion VND

Market Cap Rank

#5579 Global

#23 in Vietnam

Share Price

₫22600.00

Change (1 day)

+0.89%

52-Week Range

₫19300.00 - ₫40300.00

All Time High

₫40300.00