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Side-by-side financial comparison of HALOZYME THERAPEUTICS, INC. (HALO) and VinFast Auto Ltd. (VFS). Click either name above to swap in a different company.
VinFast Auto Ltd. is the larger business by last-quarter revenue ($718.6M vs $451.8M, roughly 1.6× HALOZYME THERAPEUTICS, INC.). VinFast Auto Ltd. runs the higher net margin — -2.8% vs -31.3%, a 28.6% gap on every dollar of revenue.
Halozyme Therapeutics, Inc. is an American biotechnology company. It develops oncology therapies designed to target the tumor microenvironment.
VinFast Auto Ltd. is a Vietnamese multinational automotive company founded by Vingroup, one of the largest private conglomerates in Vietnam that was founded by Phạm Nhật Vượng.
HALO vs VFS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $451.8M | $718.6M |
| Net Profit | $-141.6M | $-20.0M |
| Gross Margin | 82.6% | — |
| Operating Margin | -20.6% | -96.1% |
| Net Margin | -31.3% | -2.8% |
| Revenue YoY | 51.6% | — |
| Net Profit YoY | -203.3% | — |
| EPS (diluted) | $-1.13 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $451.8M | — | ||
| Q3 25 | $354.3M | $718.6M | ||
| Q2 25 | $325.7M | $663.0M | ||
| Q1 25 | $264.9M | $656.5M | ||
| Q4 24 | $298.0M | — | ||
| Q3 24 | $290.1M | $511.6M | ||
| Q2 24 | $231.4M | — | ||
| Q1 24 | $195.9M | $302.6M |
| Q4 25 | $-141.6M | — | ||
| Q3 25 | $175.2M | $-20.0M | ||
| Q2 25 | $165.2M | $-51.8M | ||
| Q1 25 | $118.1M | $-26.1M | ||
| Q4 24 | $137.0M | — | ||
| Q3 24 | $137.0M | $-10.4M | ||
| Q2 24 | $93.2M | — | ||
| Q1 24 | $76.8M | $-618.3M |
| Q4 25 | 82.6% | — | ||
| Q3 25 | 84.4% | — | ||
| Q2 25 | 85.8% | — | ||
| Q1 25 | 81.7% | — | ||
| Q4 24 | 85.9% | — | ||
| Q3 24 | 83.0% | — | ||
| Q2 24 | 82.9% | — | ||
| Q1 24 | 85.5% | — |
| Q4 25 | -20.6% | — | ||
| Q3 25 | 61.5% | -96.1% | ||
| Q2 25 | 62.2% | -79.0% | ||
| Q1 25 | 53.4% | -74.0% | ||
| Q4 24 | 58.9% | — | ||
| Q3 24 | 56.3% | -65.9% | ||
| Q2 24 | 50.7% | — | ||
| Q1 24 | 48.8% | -139.4% |
| Q4 25 | -31.3% | — | ||
| Q3 25 | 49.5% | -2.8% | ||
| Q2 25 | 50.7% | -7.8% | ||
| Q1 25 | 44.6% | -4.0% | ||
| Q4 24 | 46.0% | — | ||
| Q3 24 | 47.2% | -2.0% | ||
| Q2 24 | 40.3% | — | ||
| Q1 24 | 39.2% | -204.3% |
| Q4 25 | $-1.13 | — | ||
| Q3 25 | $1.43 | — | ||
| Q2 25 | $1.33 | — | ||
| Q1 25 | $0.93 | — | ||
| Q4 24 | $1.06 | — | ||
| Q3 24 | $1.05 | — | ||
| Q2 24 | $0.72 | — | ||
| Q1 24 | $0.60 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $133.8M | $8.8M |
| Total DebtLower is stronger | $2.1B | — |
| Stockholders' EquityBook value | $48.8M | — |
| Total Assets | $2.5B | $183.2M |
| Debt / EquityLower = less leverage | 43.89× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $133.8M | — | ||
| Q3 25 | $419.7M | $8.8M | ||
| Q2 25 | $61.9M | $650.0M | ||
| Q1 25 | $176.3M | $2.4M | ||
| Q4 24 | $115.8M | — | ||
| Q3 24 | $154.3M | $1.9M | ||
| Q2 24 | $187.9M | — | ||
| Q1 24 | $164.6M | $3.0M |
| Q4 25 | $2.1B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $48.8M | — | ||
| Q3 25 | $503.9M | — | ||
| Q2 25 | $332.7M | $-7.2B | ||
| Q1 25 | $482.3M | — | ||
| Q4 24 | $363.8M | — | ||
| Q3 24 | $452.7M | — | ||
| Q2 24 | $289.4M | — | ||
| Q1 24 | $177.8M | — |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.2B | $183.2M | ||
| Q2 25 | $2.1B | $7.2B | ||
| Q1 25 | $2.2B | $158.2M | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.1B | $151.8M | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $1.8B | $145.6M |
| Q4 25 | 43.89× | — | ||
| Q3 25 | 3.00× | — | ||
| Q2 25 | 4.54× | — | ||
| Q1 25 | 3.13× | — | ||
| Q4 24 | 4.14× | — | ||
| Q3 24 | 3.32× | — | ||
| Q2 24 | 5.19× | — | ||
| Q1 24 | 8.44× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $219.0M | — |
| Free Cash FlowOCF − Capex | $217.6M | — |
| FCF MarginFCF / Revenue | 48.2% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $644.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $219.0M | — | ||
| Q3 25 | $178.6M | — | ||
| Q2 25 | $99.7M | — | ||
| Q1 25 | $154.2M | — | ||
| Q4 24 | $178.5M | — | ||
| Q3 24 | $115.4M | — | ||
| Q2 24 | $55.8M | — | ||
| Q1 24 | $129.4M | — |
| Q4 25 | $217.6M | — | ||
| Q3 25 | $175.6M | — | ||
| Q2 25 | $98.1M | — | ||
| Q1 25 | $153.3M | — | ||
| Q4 24 | $175.4M | — | ||
| Q3 24 | $113.9M | — | ||
| Q2 24 | $53.2M | — | ||
| Q1 24 | $125.9M | — |
| Q4 25 | 48.2% | — | ||
| Q3 25 | 49.6% | — | ||
| Q2 25 | 30.1% | — | ||
| Q1 25 | 57.9% | — | ||
| Q4 24 | 58.9% | — | ||
| Q3 24 | 39.3% | — | ||
| Q2 24 | 23.0% | — | ||
| Q1 24 | 64.3% | — |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.9% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 1.0% | — | ||
| Q3 24 | 0.5% | — | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 1.8% | — |
| Q4 25 | — | — | ||
| Q3 25 | 1.02× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 1.31× | — | ||
| Q4 24 | 1.30× | — | ||
| Q3 24 | 0.84× | — | ||
| Q2 24 | 0.60× | — | ||
| Q1 24 | 1.68× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HALO
| Royalty | $258.0M | 57% |
| Products | $122.7M | 27% |
| Proprietary Products Sales | $59.6M | 13% |
| Device Partnered Products | $12.9M | 3% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
