Vingroup JSC (VIC) - Net Assets
Based on the latest financial reports, Vingroup JSC (VIC) has net assets worth ₫151.49 Trillion VND (≈ $5.76 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₫1118.62 Trillion ≈ $42.50 Billion USD) and total liabilities (₫967.13 Trillion ≈ $36.75 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 Vingroup JSC (VIC) asset resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₫151.49 Trillion |
| % of Total Assets | 13.54% |
| Annual Growth Rate | 3.87% |
| 5-Year Change | -5.09% |
| 10-Year Change | N/A |
| Growth Volatility | 10.6 |
Vingroup JSC - Net Assets Trend (2019–2025)
This chart illustrates how Vingroup JSC's net assets have evolved over time, based on quarterly financial data. Also explore Vingroup JSC assets under control for the complete picture of this company's asset base.
Annual Net Assets for Vingroup JSC (2019–2025)
The table below shows the annual net assets of Vingroup JSC from 2019 to 2025. For live valuation and market cap data, see Vingroup JSC (VIC) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₫151.46 Trillion ≈ $5.75 Billion |
-1.55% |
| 2024-12-31 | ₫153.83 Trillion ≈ $5.84 Billion |
+3.79% |
| 2023-12-31 | ₫148.22 Trillion ≈ $5.63 Billion |
+9.26% |
| 2022-12-31 | ₫135.66 Trillion ≈ $5.15 Billion |
-14.99% |
| 2021-12-31 | ₫159.57 Trillion ≈ $6.06 Billion |
+17.46% |
| 2020-12-31 | ₫135.85 Trillion ≈ $5.16 Billion |
+12.66% |
| 2019-12-31 | ₫120.59 Trillion ≈ $4.58 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Vingroup 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 grown by 1684.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₫55.67 Trillion | 37.45% |
| Other Components | ₫92.97 Trillion | 62.55% |
| Total Equity | ₫148.64 Trillion | 100.00% |
Vingroup JSC Competitors by Market Cap
The table below lists competitors of Vingroup JSC ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
PACCAR Inc
NASDAQ:PCAR
|
$60.99 Billion |
|
TE Connectivity Ltd
NYSE:TEL
|
$61.02 Billion |
|
Imperial Oil Ltd
TO:IMO
|
$61.08 Billion |
|
Marathon Petroleum Corp
NYSE:MPC
|
$61.10 Billion |
|
United Rentals Inc
NYSE:URI
|
$60.40 Billion |
|
Vale S.A
F:CVLB
|
$60.20 Billion |
|
Ping An Insurance (Group) Company of China Ltd
F:PZX
|
$60.05 Billion |
|
Airbnb Inc
NASDAQ:ABNB
|
$60.00 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Vingroup JSC's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 137,396,834,000,000 to 148,636,001,000,000, a change of 11,239,167,000,000 (8.2%).
- Net income of 11,349,934,000,000 contributed positively to equity growth.
- Dividend payments of 2,577,141,000,000 reduced retained earnings.
- New share issuances of 2,267,028,000,000 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₫11.35 Trillion | +7.64% |
| Dividends Paid | ₫2.58 Trillion | -1.73% |
| Share Issuances | ₫2.27 Trillion | +1.53% |
| Other Changes | ₫199.35 Billion | +0.13% |
| Total Change | ₫- | 8.18% |
Book Value vs Market Value Analysis
This analysis compares Vingroup 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
- Current price-to-book ratio: 10.80x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 10.14x to 10.80x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | ₫21109.62 | ₫214000.00 | x |
| 2020-12-31 | ₫21783.34 | ₫214000.00 | x |
| 2021-12-31 | ₫27143.63 | ₫214000.00 | x |
| 2022-12-31 | ₫29742.20 | ₫214000.00 | x |
| 2023-12-31 | ₫30575.41 | ₫214000.00 | x |
| 2024-12-31 | ₫18467.24 | ₫214000.00 | x |
| 2025-12-31 | ₫19821.46 | ₫214000.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Vingroup 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): 7.64%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.42%
- • Asset Turnover: 0.30x
- • Equity Multiplier: 7.54x
- Recent ROE (7.64%) is above the historical average (5.78%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 9.87% | 5.80% | 0.32x | 5.28x | ₫-95.83 Billion |
| 2020 | 6.90% | 4.95% | 0.26x | 5.33x | ₫-2.45 Trillion |
| 2021 | -2.50% | -2.00% | 0.29x | 4.26x | ₫-12.56 Trillion |
| 2022 | 7.98% | 8.63% | 0.18x | 5.24x | ₫-2.23 Trillion |
| 2023 | 1.90% | 1.34% | 0.24x | 5.87x | ₫-9.22 Trillion |
| 2024 | 8.66% | 6.30% | 0.23x | 6.09x | ₫-1.84 Trillion |
| 2025 | 7.64% | 3.42% | 0.30x | 7.54x | ₫-3.51 Trillion |
Industry Comparison
This section compares Vingroup JSC's net assets metrics with peer companies in the Real Estate Services industry.
Industry Context
- Industry: Real Estate Services
- Average net assets among peers: $5,278,314,196,238
- Average return on equity (ROE) among peers: 11.48%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Vingroup JSC (VIC) | ₫151.49 Trillion | 9.87% | 6.38x | $60.97 Billion |
| Sao Mai Group Corp (ASM) | $6.87 Trillion | 6.92% | 1.56x | $87.10 Million |
| Century Land Joint Stock Company (CRE) | $2.04 Trillion | 14.37% | 0.86x | $135.12 Million |
| Hoang Quan Consulting Trading Service Real Estate Corp (HQC) | $5.39 Trillion | 0.63% | 0.54x | $57.18 Million |
| Kinh Bac City Development Share Holding Corp (KBC) | $17.85 Trillion | 8.55% | 0.96x | $1.21 Billion |
| 577 Investment Corp (NBB) | $1.77 Trillion | 18.53% | 1.32x | $67.74 Million |
| Song Da Urban & Industrial Zone Investment and Development JSC (SJS) | $3.45 Trillion | 10.49% | 1.29x | $652.14 Million |
| Sonadezi Chau Duc Shareholding Co (SZC) | $1.47 Trillion | 22.08% | 2.83x | $186.00 Million |
| Van Phu - Invest Investment JSC (VPI) | $3.39 Trillion | 10.26% | 1.90x | $746.62 Million |
About Vingroup JSC
Vingroup Joint Stock Company invests in, constructs, and trades in real estate properties in Vietnam. The company operates through Sale of Inventory Properties; Leasing Investment Properties and Related Services; Hospitality, Entertainment and Related Services; Health Care and Related Services; Education and Related Services; Manufacturing and Related Activities; General Contractor and Related Se… Read more