VFS Stock Forecast & Price Target

VinFast Auto is supported by rapid top-line and unit growth, with Q2 revenue of $1.2 billion and deliveries of 70,085 EVs, up 86% and 96% year over year, respectively, signaling strong demand momentum across its Car, E-scooter, and Ebus businesses. The bullish view is strengthened by strategic actions that reduce future capital needs, including the sale of Vietnam manufacturing operations, a planned Ngoc Hoi real-estate acquisition that could generate about $1 billion of annual cash flow, and $2.3 billion of available liquidity at quarter end. Continued scale to approximately 300,000 vehicle deliveries in 2026, alongside improving utilization, fixed-cost leverage, and international expansion, could support the path toward margin expansion and cash-flow breakeven.

VinFast Auto is facing a fundamentally weak profitability profile, as 2Q26 gross margin was roughly (62.8%) and adjusted EBITDA loss widened to about ($1,133M), even though revenue reached roughly $1,203.7M on 70,085 vehicle deliveries. Management reaffirmed FY26 delivery guidance of 300,000 vehicles, but the company still reported 2Q26 net loss from continuing operations of about ($1,237.4M), while operating cash burn and capex drove free cash flow to roughly ($939.4M). The outlook remains negative because gross-margin improvement is slower than expected, positive gross margin is now not anticipated until 2028, and the business will likely need more than $9B in additional capital over the next 4 years with limited near-term catalysts.