Vietnam Airlines JSC Balance Sheet

Financials in millions VND. Fiscal year is January - December.

Millions VND. Fiscal year is Jan - Dec.

Fiscal Quarter	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Jun '25 Jun 30, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Sep '24 Sep 30, 2024	Jun '24 Jun 30, 2024	Mar '24 Mar 31, 2024	Jan '24 Jan 1, 2024	Sep '23 Sep 30, 2023	Jun '23 Jun 30, 2023	Mar '23 Mar 31, 2023	Jan '23 Jan 1, 2023	Sep '22 Sep 30, 2022	Jun '22 Jun 30, 2022	Mar '22 Mar 31, 2022	Dec '21 Dec 31, 2021	Sep '21 Sep 30, 2021	Jun '21 Jun 30, 2021	Mar '21 Mar 31, 2021
Cash & Equivalents	9,895,757	16,303,941	6,835,527	6,049,413	4,626,738	3,533,150	2,652,050	2,494,230	2,551,042	2,959,248	2,946,891	2,845,935	2,490,276	3,040,362	3,304,553	2,457,893	1,713,827	6,310,452	1,288,654	1,594,848
Short-Term Investments	8,058,914	1,864,658	1,506,523	982,083	1,015,204	810,473	756,123	875,797	920,439	898,687	908,322	1,016,965	896,631	750,728	2,153,538	2,226,404	2,229,538	1,955,746	326,286	481,927
Cash & Short-Term Investments	17,954,671	18,168,599	8,342,050	7,031,496	5,641,942	4,343,623	3,408,172	3,370,026	3,471,481	3,857,935	3,855,213	3,862,901	3,386,907	3,791,090	5,458,091	4,684,297	3,943,365	8,266,198	1,614,939	2,076,775
Cash Growth	218.24%	318.28%	144.77%	108.65%	62.52%	12.59%	-11.60%	-12.76%	2.50%	1.76%	-29.37%	-17.54%	-14.11%	-54.14%	237.97%	125.56%	84.20%	152.42%	-62.00%	-63.80%
Accounts Receivable	5,176,903	5,104,865	4,869,186	4,920,388	4,332,566	4,264,175	4,670,619	4,338,221	4,143,590	4,417,697	3,555,991	3,827,015	3,775,387	3,812,518	3,914,720	2,616,538	1,841,205	1,642,499	1,533,202	2,094,244
Other Receivables	270,749	217,512	179,872	445,172	447,151	267,774	505,084	503,115	407,133	678,548	367,509	320,472	301,329	404,298	613,783	599,208	1,158,908	663,180	518,957	602,317
Receivables	5,447,652	5,322,377	5,049,058	5,365,560	4,779,716	4,531,949	5,175,703	4,841,336	4,550,723	5,096,245	3,923,500	4,147,486	4,076,717	4,216,817	4,528,503	3,215,746	3,000,113	2,305,679	2,052,158	2,696,561
Inventory	3,795,531	3,037,548	3,581,207	2,957,238	3,369,444	3,210,634	3,461,530	3,560,654	3,430,699	4,083,295	3,234,927	3,362,865	2,875,284	3,558,524	4,463,285	2,761,301	2,250,462	2,387,561	2,580,802	1,592,393
Prepaid Expenses	627,727	641,191	593,168	634,588	631,414	570,856	559,353	548,230	605,280	547,284	571,736	500,306	416,870	386,157	428,412	400,638	393,399	461,046	699,841	598,406
Other Current Assets	4,225,003	5,514,192	4,383,294	3,419,301	2,915,179	3,715,737	3,725,203	2,396,165	2,826,099	1,825,833	1,675,616	1,395,970	1,574,172	1,081,954	1,345,116	1,720,200	1,768,926	1,336,295	1,251,237	898,536
Total Current Assets	32,050,584	32,683,907	21,948,777	19,408,183	17,337,695	16,372,799	16,329,962	14,716,411	14,884,283	15,410,592	13,260,992	13,269,528	12,329,950	13,034,541	16,223,407	12,782,181	11,356,265	14,756,780	8,198,978	7,862,671
Property, Plant & Equipment	25,195,363	26,184,253	27,187,604	28,319,862	29,460,825	30,627,178	31,811,491	33,086,852	34,342,837	35,596,075	37,489,885	38,821,779	40,591,565	41,098,007	41,641,195	42,502,251	43,215,978	43,566,118	43,802,478	43,613,776
Long-Term Investments	2,705,075	1,933,780	1,873,918	1,827,654	1,795,288	1,857,389	1,861,861	1,751,566	1,672,502	1,855,972	1,825,719	1,764,701	1,751,061	1,774,000	1,713,589	1,663,962	1,636,329	1,742,424	1,885,208	1,925,608
Other Intangible Assets	223,160	226,439	234,847	231,906	239,339	245,811	256,780	141,925	148,371	151,117	153,884	163,113	174,458	163,571	175,247	169,776	182,260	190,107	201,576	212,003
Long-Term Accounts Receivable	1,730	1,730	1,730	1,730	1,896	1,998	1,998	2,389	2,016	-	-	-	-	759.17	1,076	1,086	1,076	1,187	841.77	841.77
Long-Term Deferred Tax Assets	4,469	429.64	444.17	1,390	1,531	448.02	506.96	449.14	1,274	2,936	1,272	747.44	1,029	5,714	5,445	5,188	5,422	7,477	7,291	7,379
Other Long-Term Assets	12,994,499	12,706,638	10,992,992	10,047,591	9,350,040	8,246,316	7,528,931	6,616,588	6,665,648	7,311,144	6,457,925	5,558,692	5,788,124	6,499,860	6,815,814	6,891,076	6,660,407	6,811,746	7,158,895	6,957,784
Total Assets	73,174,881	73,737,177	62,240,312	59,838,315	58,186,614	57,351,938	57,791,530	56,316,179	57,716,931	60,327,836	59,189,678	59,578,560	60,636,188	62,576,451	66,575,773	64,015,519	63,057,737	67,075,837	61,255,268	60,580,063
Accounts Payable	14,761,023	26,402	36,771	13,317,853	15,016,737	14,856,355	15,024,818	16,909,304	18,260,414	19,383,300	17,557,638	19,461,891	18,047,269	18,171,828	470,981	18,740,897	17,911,655	18,597,300	18,300,221	12,596,899
Accrued Expenses	12,471,179	12,734,368	13,292,137	14,696,201	11,739,278	13,414,013	13,324,566	11,740,309	11,582,418	12,162,792	11,144,226	8,658,244	8,685,137	10,333,372	10,129,664	8,625,951	6,577,374	5,241,592	5,521,755	7,653,848
Short-Term Debt	6,881,803	8,416,263	10,624,407	9,785,436	10,102,265	10,746,851	10,390,351	10,081,063	12,055,763	11,714,952	10,751,565	8,936,196	9,138,049	10,323,908	11,001,747	11,151,914	11,030,655	11,743,237	8,431,211	7,565,837
Current Portion of Long-Term Debt	572,681	818,188	1,131,750	1,462,341	1,263,858	1,209,482	1,281,750	1,466,788	1,542,128	1,463,895	1,444,443	1,303,470	1,334,068	1,655,134	1,897,113	2,194,176	2,186,872	1,592,498	1,585,478	1,439,997
Current Portion of Leases	1,924,254	2,160,799	2,462,462	2,728,257	2,945,077	3,044,594	3,411,679	3,667,067	3,963,889	4,182,175	3,762,373	3,415,418	2,927,935	2,515,668	2,121,091	1,172,331	1,157,397	955,062	4,163,488	3,687,717
Current Income Taxes Payable	307,471	236,108	189,403	137,777	189,807	155,299	105,162	85,523	126,015	141,538	113,024	51,313	80,613	30,354	67,420	54,924	52,380	95,631	99,338	66,194
Current Unearned Revenue	18,269,103	17,089,911	15,572,929	13,719,044	14,976,998	12,838,583	12,186,295	10,799,469	11,734,639	10,272,381	9,404,319	8,624,726	9,589,942	6,219,121	5,530,725	2,667,871	1,473,286	2,438,776	2,999,653	3,576,032
Other Current Liabilities	1,245,892	15,265,574	13,865,450	1,092,256	925,205	1,007,648	1,293,893	2,806,340	1,906,032	489,837	1,895,005	4,326,869	1,997,096	930,196	21,431,729	1,064,373	804,438	1,769,996	1,762,123	441,052
Total Current Liabilities	56,433,408	56,747,612	57,175,310	56,939,165	57,159,225	57,272,824	57,018,513	57,555,863	61,171,298	59,810,871	56,072,593	54,778,128	51,800,109	50,179,580	52,650,470	45,672,437	41,194,056	42,434,092	42,863,267	37,027,578
Long-Term Debt	1,981,031	204,040	2,291,248	5,647,409	2,604,254	3,054,165	8,271,758	3,594,132	3,616,860	4,190,887	5,687,596	4,831,630	4,995,435	5,530,197	5,654,346	5,995,791	6,119,428	6,982,877	7,115,264	7,459,297
Long-Term Leases	1,744,077	4,363,144	2,637,329	-	3,567,347	4,072,113	-	5,592,107	6,189,420	7,035,605	6,341,748	8,762,614	9,872,669	11,464,806	12,214,561	13,589,075	14,305,405	15,274,589	13,167,282	14,180,396
Long-Term Unearned Revenue	6,483	4,614	6,374	6,489	3,114	3,164	1,379	1,122	1,379	1,790	2,181	2,351	2,239	2,481	2,506	1,790	2,130	2,484	2,877	3,202
Long-Term Deferred Tax Liabilities	255,731	223,959	224,180	224,518	224,625	173,651	174,969	154,495	156,764	160,269	156,073	156,260	160,828	186,620	190,506	188,531	184,806	156,850	135,618	132,450
Other Long-Term Liabilities	6,024,486	5,824,467	3,005,966	2,874,977	3,972,293	3,862,828	3,858,350	1,974,560	3,607,136	3,079,230	3,441,578	1,286,588	4,860,533	2,723,348	777,596	728,730	727,702	749,561	758,111	746,762
Total Liabilities	66,445,216	67,367,837	65,340,408	65,692,558	67,530,857	68,438,746	69,324,970	68,872,279	74,742,857	74,278,651	71,701,768	69,817,571	71,691,812	70,087,032	71,489,984	66,176,354	62,533,527	65,600,454	64,042,418	59,549,685
Common Stock	31,114,982	31,114,982	22,143,942	22,143,942	22,143,942	22,143,942	22,143,942	22,143,942	22,143,942	22,143,942	22,143,942	22,143,942	22,143,942	22,143,942	22,143,942	22,143,942	22,143,942	22,143,942	14,182,908	14,182,908
Additional Paid-In Capital	1,220,059	1,220,059	1,220,498	1,220,498	1,220,498	1,220,498	1,220,498	1,220,498	1,220,498	1,220,498	1,220,498	1,220,498	1,220,498	1,220,498	1,220,498	1,220,498	1,220,498	1,220,498	1,220,852	1,220,852
Retained Earnings	-25,752,712	-26,080,073	-26,457,394	-29,282,726	-32,681,080	-34,292,851	-34,878,797	-35,809,587	-40,124,296	-36,999,355	-35,663,308	-33,371,092	-34,140,153	-30,615,134	-27,988,273	-23,643,234	-21,030,149	-20,268,101	-16,876,995	-13,287,612
Comprehensive Income & Other	-651,418	-663,350	-669,817	-693,506	-700,075	-741,456	-703,558	-732,985	-755,340	-796,825	-785,597	-813,688	-787,183	-806,285	-817,904	-826,233	-827,878	-699,433	-680,813	-676,639
Total Common Equity	5,930,911	5,591,618	-3,762,771	-6,611,792	-10,016,715	-11,669,867	-12,217,915	-13,178,132	-17,515,195	-14,431,740	-13,084,466	-10,820,341	-11,562,896	-8,056,979	-5,441,738	-1,105,027	1,506,412	2,396,906	-2,154,047	1,439,510
Minority Interest	798,754	777,722	662,675	757,549	672,472	583,060	684,475	622,032	489,270	480,925	572,375	581,330	507,271	546,398	527,527	-1,055,807	-982,202	-921,523	-633,103	-409,132
Shareholders' Equity	6,729,665	6,369,340	-3,100,096	-5,854,243	-9,344,243	-11,086,807	-11,533,440	-12,556,100	-17,025,926	-13,950,815	-12,512,090	-10,239,011	-11,055,625	-7,510,581	-4,914,211	-2,160,834	524,210	1,475,383	-2,787,150	1,030,378
Total Liabilities & Equity	73,174,881	73,737,177	62,240,312	59,838,315	58,186,614	57,351,938	57,791,530	56,316,179	57,716,931	60,327,836	59,189,678	59,578,560	60,636,188	62,576,451	66,575,773	64,015,519	63,057,737	67,075,837	61,255,268	60,580,063
Total Debt	13,103,847	15,962,434	19,147,196	19,623,443	20,482,800	22,127,205	23,355,538	24,401,156	27,368,060	28,587,515	27,987,724	27,249,329	28,268,156	31,489,713	32,888,857	34,103,287	34,799,757	36,548,263	34,462,723	34,333,245
Net Cash (Debt)	4,850,824	2,206,165	-10,805,146	-12,591,947	-14,840,858	-17,783,582	-19,947,366	-21,031,130	-23,896,580	-24,729,580	-24,132,511	-23,386,428	-24,881,249	-27,698,624	-27,430,766	-29,418,990	-30,856,392	-28,282,065	-32,847,783	-32,256,470
Net Cash Per Share	1563.99	993.70	-4871.76	-5687.02	-6701.32	-8036.38	-9001.53	-9494.21	-10787.49	-11163.62	-10855.30	-10604.89	-11234.12	-12503.87	-12387.43	-13285.40	-13927.19	-13030.00	-23157.65	-22740.51
Filing Date Shares Outstanding	3,111	3,111	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	1,418	1,418
Total Common Shares Outstanding	3,111	3,111	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	2,214	1,418	1,418
Working Capital	-24,382,824	-24,063,706	-35,226,533	-37,530,982	-39,821,530	-40,900,025	-40,688,551	-42,839,452	-46,287,016	-44,400,279	-42,811,600	-41,508,600	-39,470,159	-37,145,040	-36,427,064	-32,890,256	-29,837,791	-27,677,312	-34,664,289	-29,164,907
Book Value Per Share	1906.13	1797.08	-1699.23	-2985.82	-4523.46	-5270.00	-5517.50	-5951.12	-7909.70	-6517.24	-5908.82	-4886.37	-5221.70	-3638.46	-2457.44	-499.02	680.28	1082.42	-1518.76	1014.96
Tangible Book Value	5,707,751	5,365,179	-3,997,618	-6,843,698	-10,256,054	-11,915,678	-12,474,695	-13,320,056	-17,663,567	-14,582,858	-13,238,349	-10,983,454	-11,737,355	-8,220,550	-5,616,985	-1,274,803	1,324,153	2,206,799	-2,355,623	1,227,507
Tangible Book Value Per Share	1834.41	1724.31	-1805.29	-3090.55	-4631.54	-5381.01	-5633.46	-6015.21	-7976.70	-6585.48	-5978.32	-4960.03	-5300.48	-3712.32	-2536.58	-575.69	597.98	996.57	-1660.89	865.48
Buildings	2,880,779	2,869,197	2,865,522	2,877,756	2,986,896	2,982,980	2,979,059	2,979,614	2,979,614	2,979,494	2,980,889	2,980,126	2,979,343	2,913,435	2,887,412	2,887,450	2,886,639	2,875,508	2,971,276	2,576,795
Machinery	50,453,858	43,586,201	43,543,506	43,482,585	43,493,280	39,881,913	37,479,235	38,314,117	40,129,620	36,530,609	37,122,448	37,092,928	37,092,535	36,424,574	34,325,136	34,255,389	35,030,233	35,716,570	35,564,772	35,537,925
Construction In Progress	254,166	204,499	129,291	136,012	109,160	92,754	65,158	141,043	132,650	143,480	147,776	94,232	94,019	413,779	133,360	188,733	146,061	133,970	124,378	391,719

Source: S&P Global Market Intelligence. Standard template. Financial Sources.