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Side-by-side financial comparison of VinFast Auto Ltd. (VFS) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
VinFast Auto Ltd. is the larger business by last-quarter revenue ($718.6M vs $625.1M, roughly 1.1× WATTS WATER TECHNOLOGIES INC). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs -2.8%, a 16.2% gap on every dollar of revenue.
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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
VFS vs WTS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $718.6M | $625.1M |
| Net Profit | $-20.0M | $83.7M |
| Gross Margin | — | 49.5% |
| Operating Margin | -96.1% | 18.2% |
| Net Margin | -2.8% | 13.4% |
| Revenue YoY | — | 15.7% |
| Net Profit YoY | — | 24.0% |
| EPS (diluted) | — | $2.50 |
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 | — | $625.1M | ||
| Q3 25 | $718.6M | $611.7M | ||
| Q2 25 | $663.0M | $643.7M | ||
| Q1 25 | $656.5M | $558.0M | ||
| Q4 24 | — | $540.4M | ||
| Q3 24 | $511.6M | $543.6M | ||
| Q2 24 | — | $597.3M | ||
| Q1 24 | $302.6M | $570.9M |
| Q4 25 | — | $83.7M | ||
| Q3 25 | $-20.0M | $82.2M | ||
| Q2 25 | $-51.8M | $100.9M | ||
| Q1 25 | $-26.1M | $74.0M | ||
| Q4 24 | — | $67.5M | ||
| Q3 24 | $-10.4M | $69.1M | ||
| Q2 24 | — | $82.0M | ||
| Q1 24 | $-618.3M | $72.6M |
| Q4 25 | — | 49.5% | ||
| Q3 25 | — | 48.8% | ||
| Q2 25 | — | 50.6% | ||
| Q1 25 | — | 48.8% | ||
| Q4 24 | — | 46.7% | ||
| Q3 24 | — | 47.3% | ||
| Q2 24 | — | 47.7% | ||
| Q1 24 | — | 46.9% |
| Q4 25 | — | 18.2% | ||
| Q3 25 | -96.1% | 18.2% | ||
| Q2 25 | -79.0% | 21.0% | ||
| Q1 25 | -74.0% | 15.7% | ||
| Q4 24 | — | 16.5% | ||
| Q3 24 | -65.9% | 17.1% | ||
| Q2 24 | — | 18.7% | ||
| Q1 24 | -139.4% | 16.9% |
| Q4 25 | — | 13.4% | ||
| Q3 25 | -2.8% | 13.4% | ||
| Q2 25 | -7.8% | 15.7% | ||
| Q1 25 | -4.0% | 13.3% | ||
| Q4 24 | — | 12.5% | ||
| Q3 24 | -2.0% | 12.7% | ||
| Q2 24 | — | 13.7% | ||
| Q1 24 | -204.3% | 12.7% |
| Q4 25 | — | $2.50 | ||
| Q3 25 | — | $2.45 | ||
| Q2 25 | — | $3.01 | ||
| Q1 25 | — | $2.21 | ||
| Q4 24 | — | $2.02 | ||
| Q3 24 | — | $2.06 | ||
| Q2 24 | — | $2.44 | ||
| Q1 24 | — | $2.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.8M | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $2.0B |
| Total Assets | $183.2M | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $405.5M | ||
| Q3 25 | $8.8M | $457.7M | ||
| Q2 25 | $650.0M | $369.3M | ||
| Q1 25 | $2.4M | $336.8M | ||
| Q4 24 | — | $386.9M | ||
| Q3 24 | $1.9M | $303.9M | ||
| Q2 24 | — | $279.4M | ||
| Q1 24 | $3.0M | $237.1M |
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | $-7.2B | $1.9B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.6B |
| Q4 25 | — | $2.9B | ||
| Q3 25 | $183.2M | $2.7B | ||
| Q2 25 | $7.2B | $2.6B | ||
| Q1 25 | $158.2M | $2.5B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | $151.8M | $2.4B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | $145.6M | $2.3B |
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 | — | $154.7M |
| Free Cash FlowOCF − Capex | — | $140.3M |
| FCF MarginFCF / Revenue | — | 22.4% |
| Capex IntensityCapex / Revenue | — | 2.3% |
| Cash ConversionOCF / Net Profit | — | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | — | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $154.7M | ||
| Q3 25 | — | $122.4M | ||
| Q2 25 | — | $69.7M | ||
| Q1 25 | — | $55.2M | ||
| Q4 24 | — | $139.5M | ||
| Q3 24 | — | $90.7M | ||
| Q2 24 | — | $85.3M | ||
| Q1 24 | — | $45.6M |
| Q4 25 | — | $140.3M | ||
| Q3 25 | — | $110.9M | ||
| Q2 25 | — | $59.5M | ||
| Q1 25 | — | $45.6M | ||
| Q4 24 | — | $127.5M | ||
| Q3 24 | — | $84.3M | ||
| Q2 24 | — | $78.5M | ||
| Q1 24 | — | $35.5M |
| Q4 25 | — | 22.4% | ||
| Q3 25 | — | 18.1% | ||
| Q2 25 | — | 9.2% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | 23.6% | ||
| Q3 24 | — | 15.5% | ||
| Q2 24 | — | 13.1% | ||
| Q1 24 | — | 6.2% |
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 1.8% |
| Q4 25 | — | 1.85× | ||
| Q3 25 | — | 1.49× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 2.07× | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 0.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
WTS
Segment breakdown not available.
