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Viet Nam Airlines JSCSTC:HVN -0.42%84 Piotroski F-Score is 6 as of Aug. 08, 2026, which is 14% below its 10-year median of 7.00. GuruFocus rates STC:HVN with a GF Score™ of 84/100 and a GF Value™ of ₫24,453.05 (Fairly Valued). The stock has 5 warning signs investors should review. Among 980 Transportation companies, Viet Nam Airlines JSC ranks better than 71.22% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Viet Nam Airlines JSC has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Viet Nam Airlines JSC's Piotroski F-Score or its related term are showing as below:
STC:HVN'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 7 Max: 9
Current: 6
During the past 8 years, the highest Piotroski F-Score of Viet Nam Airlines JSC was 9. The lowest was 2. And the median was 7.
Viet Nam Airlines JSC (STC:HVN) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Viet Nam Airlines JSC Piotroski F-Score Related Terms
Viet Nam Airlines JSC Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Viet Nam Airlines JSC's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
STC:HVN vs DAL, UAL, LUV: Piotroski F-Score Comparison
For the Airlines subindustry, Viet Nam Airlines JSC's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Viet Nam Airlines JSC Piotroski F-Score vs Transportation Industry
For the Transportation industry and Industrials sector, Viet Nam Airlines JSC's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Viet Nam Airlines JSC's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 617199.714 + 428017.365 + 4388011.721 + -735458.547 = ₫4,697,770 Mil. Cash Flow from Operations was 4801078.878 + 2983025.869 + 5398939.755 + -1771104.554 = ₫11,411,940 Mil. Revenue was 30371020.357 + 32291167.725 + 36882751.087 + 38303446.371 = ₫137,848,386 Mil. Gross Profit was 3804527.388 + 3076938.76 + 7310573.466 + 1702096.903 = ₫15,894,137 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(62240311.632 + 73737176.989 + 73174881.281 + 79063570.32 + 79485685.718) / 5 = ₫73540325.188 Mil. Total Assets at the begining of this year (Jun25) was ₫62,240,312 Mil. Long-Term Debt & Capital Lease Obligation was ₫2,599,256 Mil. Total Current Assets was ₫36,519,782 Mil. Total Current Liabilities was ₫58,665,032 Mil.
Net Income was 767870.69 + 921280.736 + 3400942.857 + 2822542.86 = ₫7,912,637 Mil.
Revenue was 26772817.177 + 26784716.758 + 30550973.04 + 27968533.548 = ₫112,077,041 Mil. Gross Profit was 2917179.207 + 4537057.2 + 6271023.111 + 4948457.264 = ₫18,673,717 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(57791529.82 + 57351938.201 + 58186613.863 + 59838315.128 + 62240311.632) / 5 = ₫59081741.7288 Mil. Total Assets at the begining of last year (Jun24) was ₫57,791,530 Mil. Long-Term Debt & Capital Lease Obligation was ₫4,928,577 Mil. Total Current Assets was ₫21,948,777 Mil. Total Current Liabilities was ₫57,175,310 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Viet Nam Airlines JSC's current Net Income (TTM) was 4,697,770.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Viet Nam Airlines JSC's current Cash Flow from Operations (TTM) was 11,411,940.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Viet Nam Airlines JSC's return on assets of this year was 0.07547794. Viet Nam Airlines JSC's return on assets of last year was 0.1369169.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Viet Nam Airlines JSC's gearing of this year was 0.03534463. Viet Nam Airlines JSC's gearing of last year was 0.08341963.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Viet Nam Airlines JSC's current ratio of this year was 0.62251363. Viet Nam Airlines JSC's current ratio of last year was 0.38388557.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Viet Nam Airlines JSC's number of shares in issue this year was 2895.506. Viet Nam Airlines JSC's number of shares in issue last year was 2213.759.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Viet Nam Airlines JSC's gross margin of this year was 0.11530158. Viet Nam Airlines JSC's gross margin of last year was 0.16661501.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Viet Nam Airlines JSC's asset turnover of this year was 2.2147766. Viet Nam Airlines JSC's asset turnover of last year was 1.93933334.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Viet Nam Airlines JSC has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Viet Nam Airlines JSC (STC:HVN) has a Piotroski F-Score of 6 as of Aug. 08, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Viet Nam Airlines JSC and its competitors. This is 14% below median its historical median of 7.00. Over the past decade, Viet Nam Airlines JSC's Piotroski F-Score has ranged from 2.00 to 9.00. According to the industry distribution chart, Viet Nam Airlines JSC ranks #282 out of 980 companies in the Transportation industry, placing it in the top 28.8%.
Is Viet Nam Airlines JSC's Piotroski F-Score too high?
Viet Nam Airlines JSC's current Piotroski F-Score of 6 is 14% below median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 9.00. The Transportation industry median Piotroski F-Score is 6.00. Viet Nam Airlines JSC's value of 6 is 0% at this industry median. Based on the distribution chart, Viet Nam Airlines JSC ranks #282 out of 980 companies in the Transportation industry, which is above the industry midpoint. Overall, Viet Nam Airlines JSC has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Viet Nam Airlines JSC's Piotroski F-Score compare to DAL and UAL?
According to the Transportation industry distribution chart, Viet Nam Airlines JSC ranks #282 out of 980 companies for Piotroski F-Score. This puts Viet Nam Airlines JSC in the upper half of its industry. The industry median Piotroski F-Score is 6.00. Viet Nam Airlines JSC's value of 6 is 0% at this benchmark. Historically, Viet Nam Airlines JSC's own Piotroski F-Score has ranged from 2.00 to 9.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 6.00, Viet Nam Airlines JSC has consistently been at the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Transportation company?
The median Piotroski F-Score among Transportation companies is 6.00, based on 980 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Viet Nam Airlines JSC's current Piotroski F-Score of 6 is 0% at the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Viet Nam Airlines JSC and its competitors. For the Transportation industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Viet Nam Airlines JSC's current Piotroski F-Score is 6, which is 14% below median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Viet Nam Airlines JSC stock overvalued right now?
Based on GuruFocus' analysis, Viet Nam Airlines JSC (STC:HVN) is currently considered Fairly Valued. The stock's GF Value™ is ₫24,453.05, compared to a current price of ₫23,850.00 — trading 2.5% below its estimated fair value. The current Piotroski F-Score is 6, which is 14% below median its 10-year median of 7.00 and 0% at the Transportation industry median of 6.00. Viet Nam Airlines JSC's overall GF Score™ is 84/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Viet Nam Airlines JSC (STC:HVN), the current Piotroski F-Score is 6 as of Aug. 08, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Viet Nam Airlines JSC (STC:HVN) Overvalued in 2026?
Based on GuruFocus' analysis, Viet Nam Airlines JSC stock appears to be undervalued.
The current stock price of ₫23,850.00 is trading 2.5% below its estimated GF Value™ of ₫24,453.05.
GuruFocus considers Viet Nam Airlines JSC to be Fairly Valued.
Key valuation signals for STC:HVN:
Piotroski F-Score: 6 (14% below median its 10-year median of 7.00)
GF Value™: ₫24,453.05 vs. price of ₫23,850.00 (2.5% below fair value)
Industry Position: 0% at the Transportation median (#282 of 980)
No single metric tells the full story. See the STC:HVN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Viet Nam Airlines JSC is an airline service provider in Vietnam. The company provides air transportation of passengers, air transportation of luggage, cargos, parcels, postal items and mails and activities of general aviation including aerial photography of the terrain, geological surveys and flight calibration of air stations among others.
84GF Score
Get the complete analysis for STC:HVN
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