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Vietnam Airlines JSC

Vietnam Airlines JSC

HHOSE:HVN
21,050.00
VND
0.00
(0.00%)
73.12TMarket Cap
Dec 02Next Earn
Vietnam Airlines JSC
HOSE:HVN
(Ho Chi Minh Stock Exchange)

Recent

price

21,050.00

P/E

ratio

- -

div

yld

0.40%

ROIC.AI

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
VND
- -
52,452.56
67,575.31
42,550.22
43,173.21
17,817.41
13,479.62
25,061.57
32,582.38
37,976.96
49,614.53
- -
Revenue per Share
- -
1,537.58
1,931.11
1,026.3
1,031.03
-4,802.65
-6,233.62
-4,021.43
-2,110.81
2,692.34
2,949.03
- -
Basic EPS, GAAP
- -
204.54
14,025.88
3,474.71
3,319.01
-3,063.94
-3,500.77
2,114.77
244.1
3,246.19
4,380.19
2,637.46
Free Cash Flow per Basic Share
- -
325.02
823.67
573.35
756.36
175.13
134.05
145.54
108.74
78.36
102.5
83.71
Dividend per Share
9,507.39
12,775.7
13,681.04
7,964.75
7,976.08
2,782.54
536.82
-4,115.66
-6,234.3
-3,565.31
1,906.13
3,042.18
Book Value per Share
9,364.94
12,651.11
13,548.75
7,893.01
7,871.72
2,683.88
471.95
-4,177.75
-6,287.11
-3,650.5
1,834.41
2,977.59
Tangible Book Value per Share
1,969
1,336
1,228
2,275
2,275
2,275
2,071
2,809
2,809
2,809
2,443
2,832
Basic Weighted Avg Shares
- -
70,088,974
82,950,970
96,810,642
98,228,084
40,538,339
27,911,340
70,410,221
91,539,865
106,695,894
121,206,882
- -
Sales/Revenue/Turnover
- -
5.92
4.2
5.05
3.76
-27.02
-46.67
-11.13
-2.83
6.39
7.54
- -
Operating Margin (%)
- -
5,218,293
5,192,580
5,020,072
5,142,695
2,961,203
2,049,423
3,536,492
5,986,079
5,094,513
4,845,740
- -
Depreciation Expense
- -
2,054,564
2,370,501
2,335,040
2,345,802
-10,927,035
-12,907,541
-11,298,155
-5,930,302
7,564,092
7,204,392
- -
Net Income, GAAP
- -
19.05
15.71
21.54
25.12
- -
- -
- -
- -
5.44
6.87
- -
Effective Tax Rate (%)
- -
2.93
2.86
2.41
2.39
-26.95
-46.24
-16.05
-6.48
7.09
5.94
- -
Profit Margin (%)
-8,477,943
-7,053,681
-11,615,689
-11,844,737
-12,132,375
-24,455,915
-29,837,791
-39,470,159
-46,287,016
-39,821,530
-24,382,824
-22,145,250
Working Capital
48,482,857
49,829,138
37,432,776
30,193,296
25,426,549
22,856,942
20,424,833
14,868,103
9,806,279
6,171,600
3,725,108
2,599,256
LT Debt
12,142,392
16,244,644
17,432,920
18,672,423
18,607,556
6,072,334
525,998
-11,055,625
-17,025,926
-9,344,243
6,729,665
10,266,563
Total Equity
- -
2.2
2.45
3.01
3.37
- -
- -
- -
- -
27.29
45.92
- -
Return on Invested Capital (%)
- -
4.43
5.14
5.42
6.02
- -
- -
- -
- -
78.05
48.96
- -
Return on Capital (%)
- -
15.02
14.6
13.38
12.94
-89.28
-329.31
- -
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
9,378,739
9,217,769
10,294,921
LT Borrowings
1,981,031
1,901,702
1,728,873
LT Finance Leases
1,744,077
1,307,320
870,383
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3,111
3,111
3,111
Market Capitalization
77,476,305
66,274,912
73,120,208

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
32,050,584
35,730,654
36,519,782
Cash, Cash Equivalents & STI
17,954,671
20,217,947
19,188,751
Accounts Receivable, Net
5,421,724
6,346,325
6,674,772
Inventories
3,795,531
3,812,005
4,762,518
Total Current Liabilities
56,433,408
57,946,126
58,665,032
Payables & Accruals
- -
- -
- -
ST Debt
9,378,739
9,217,769
10,294,921
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-247.58%
-491.26%
-172.02%
Free Cash Flow
- -
196.15%
17.33%
Net Income, GAAP
- -
-54.83%
-4.76%
Sales/Revenue/Turnover
- -
36.26%
13.6%
Total Cash Common Dividend
- -
-4.5%
13.74%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
27,964,152
24,629,978
26,772,817
26,784,717
106,695,894
2025
30,550,973
27,968,534
- -
32,291,168
121,206,882
2026
36,882,751
38,303,446
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,542.48
332.61
347
416
2,692.34
2025
1,536
1,275
- -
138
2,949.03
2026
1,410
-254
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.06
1.12
208
-109.92
78.36
2025
0.01
- -
- -
76.44
102.5
2026
- -
- -
- -
- -
- -
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Business
Vietnam Airlines Joint Stock Company (HOSE: HVN) is the national flag carrier of Vietnam, engaged primarily in the provision of scheduled domestic and international commercial air passenger and air cargo transportation services. Founded in 1956 as Vietnam Civil Aviation and established as a joint-stock corporation in 2015, the company is headquartered in Hanoi, Vietnam, and operates as a full member of the global SkyTeam airline alliance. The company's operations encompass core aviation transportation and related aviation support services, offering scheduled passenger air transportation across an extensive domestic network connecting key aviation hubs including Hanoi, Ho Chi Minh City, and Da Nang with provincial destinations throughout Vietnam; scheduled international passenger air services across Southeast Asia, Northeast Asia, Europe, Australia, and North America; multi-tiered cabin travel classes comprising Business Class, Premium Economy Class, and Economy Class; passenger loyalty and customer retention solutions through its Lotusmiles frequent flyer program; ancillary travel services, including advance seat selection, prepaid baggage allowances, cabin class upgrades, inflight connectivity, and premium airport lounge access via its Lotus Lounge facilities; air cargo and freight forwarding logistics, providing scheduled and chartered transport for general freight, perishables, express consignments, and temperature-controlled pharmaceutical shipments; comprehensive aircraft maintenance, repair, and overhaul (MRO) services delivered through its subsidiary Vietnam Airlines Engineering Company (VAECO); airport ground handling, ramp operations, passenger check-in, and baggage handling services provided via Vietnam Airport Ground Services Joint Stock Company (VIAGS); inflight catering, food production, and onboard duty-free retail operations through specialized operating subsidiaries; and regional short-haul passenger feeder operations operated via Vietnam Air Services Company (VASCO). The company serves individual leisure travelers, corporate clients, government institutions, air cargo consolidators, global freight forwarders, and third-party commercial airlines. In recent corporate developments, Vietnam Airlines has executed a comprehensive government-backed financial restructuring and equity rehabilitation plan to optimize its capital structure, streamline non-core investments, and improve operational liquidity. The carrier has reinforced its fleet expansion strategy by securing a commitment to acquire 50 Boeing 737 MAX narrow-body aircraft to enhance domestic and regional flight operations alongside its existing wide-body Airbus A350-900 and Boeing 787 Dreamliner fleets. Additionally, the company has expanded its international footprint through the launch and resumption of direct long-haul and regional routes, including expanded European service to Munich, broadened connectivity across East and South Asia, enhanced strategic codeshare agreements with SkyTeam alliance partners, and accelerated digital transformation across customer self-service channels and inflight digital platforms.