Vinh Hoan currently accounts for more than 17% of Vietnam’s total pangasius export turnover. The company boasts an advanced farming and processing system, along with a product diversification strategy, which helps maintain its competitive edge, especially in major markets like the U.S., EU, and China. In addition to pangasius, Vinh Hoan has also strengthened its collagen and gelatin segment and expanded its food processing activities through its subsidiary, Sa Giang.
In 2024, Vinh Hoan recorded a revenue of 12,535 billion VND, up 24.9% year-on-year (YoY), and net profit after tax of 1,311 billion VND, up 34.6%. Gross profit margin significantly improved due to higher selling prices for pangasius and a strong recovery in export demand. In Q4/2024, revenue reached 3,220 billion VND (up 34% YoY), and net profit after tax surged to 440 billion VND (up 388% YoY).
In 2024, the company's revenue was primarily derived from pangasius (6,949 billion VND, up 25%), followed by collagen and gelatin (773 billion VND, up 7%), by-products (1,850 billion VND, up 11%), and Sa Giang (701 billion VND, up 54%).
Vinh Hoan's main export markets include the U.S., China, and the domestic market. Revenue from the U.S. reached 3,937 billion VND (up 33% YoY), from China was 1,248 billion VND (up 6% YoY), and from the domestic market was 3,492 billion VND (up 26% YoY).
Regarding its financial situation, Vinh Hoan’s debt-to-equity ratio is reasonable and does not put significant pressure on its cash flow, allowing the company to maintain stability and good liquidity.
Looking ahead to 2025, Vinh Hoan’s growth prospects remain promising. Export volumes of pangasius are expected to continue recovering, especially in the second half of 2025, due to factors such as the Federal Reserve’s interest rate cuts boosting consumer demand in the U.S. and the continued competitive advantage of pangasius, which is priced 20-50% lower than substitute fish species. Additionally, U.S. policies may impose higher tariffs on Chinese-imported tilapia, further benefiting Vietnamese pangasius.
The current price of pangasius raw material is 31,000 VND/kg (up 24% YoY) and is expected to continue rising in the second half of 2025. A shortage of raw pangasius supply in key farming regions will push up prices and drive revenue and profit growth for Vinh Hoan.
For 2025, Vinh Hoan is forecast to achieve a revenue of 14,423 billion VND (up 15% YoY) and a net profit after tax of 1,543 billion VND (up 18%). Key growth drivers include improving gross profit margins due to lower farming and transportation costs, continued growth in pangasius consumption in the U.S., and favorable tax policies benefiting Vietnamese pangasius over Chinese tilapia.
With strong growth prospects and solid competitive advantages, Vinh Hoan remains an attractive stock in investment portfolios. However, the company faces some risks, such as changes in import tax policies in major markets or weaker demand if the U.S. economy does not recover as expected.
Analysts have set a target price for Vinh Hoan stock at 81,700 VND per share, based on the FCFF and P/E valuation methods.
(seafood.vasep.com.vn) Speaking at the Opening Ceremony of VIETFISH 2026 on August 19 at the Saigon Exhibition and Convention Center (SECC), U.S. Consul General Melissa Brown highlighted the important role of the exhibition in connecting Vietnam’s growing seafood industry with buyers, suppliers, and partners from the United States and around the world.
(vasep.com.vn) Tomorrow, August 19, 2026, the Vietnam International Seafood Exhibition – Vietfish 2026 will officially open at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City. Taking place over three days, from August 19–21, Vietfish 2026 promises to provide a dynamic platform for business networking, trend updates, product experiences and comprehensive cooperation across the domestic and international seafood community.
(vasep.com.vn) The global tilapia market continues to grow, creating significant opportunities for countries with strengths in aquaculture, processing, and exports. Against this backdrop, Vietnam’s tilapia industry is gradually developing toward higher quality, greater product diversification, and broader market reach. At Vietfish 2026, the Vietnam Association of Seafood Exporters and Producers (VASEP), together with the VASEP Tilapia Producers and Exporters Club, will host a joint booth to promote the image and potential of Vietnamese tilapia to domestic and international buyers.
(seafood.vasep.com.vn) Vietnam’s seafood exports are heading towards $12 billion this year, potentially the highest level on record. Yet one of the country’s export strengths is facing a growing list of challenges.
(seafood.vasep.com.vn) The first six months of 2026 indicate that Vietnam’s tilapia industry is entering a new phase of development, with strong export growth but also greater demands for production scale, quality and international competitiveness.
(seafood.vasep.com.vn) Vietfish 2026, the Vietnam International Seafood Exhibition, will officially take place from 19–21 August 2026 in Ho Chi Minh City. As Vietnam’s largest annual seafood trade event, organized by the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietfish 2026 will once again bring together leading seafood companies, industry experts, and international partners from across the global seafood value chain.
(seafood.vasep.com.vn) Vietnam’s seafood exports reached USD 1.1 billion in July 2026, up 4.8% compared to the same period in 2025. Cumulative exports in the first seven months of the year totaled nearly USD 6.86 billion, an increase of 11.5% year-on-year. Exceeding the USD 1 billion mark in July further reinforces the prospect that Vietnam’s seafood exports could surpass USD 12 billion in 2026. However, the July figures also send a clear signal that the most favorable growth period may have passed: overall export growth slowed to just 4.8%, pangasius exports fell 6.1%, tuna exports were virtually flat, while exports to the EU, South Korea, and the Middle East all recorded double-digit declines.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition (Vietfish 2026), the seminar "Global Seafood Market and the Future Workforce: Trends, Opportunities, and Sustainable Development Pathways for Vietnam's Seafood Industry" will take place from 2:00 p.m. to 4:15 p.m. on August 19, 2026, at Convention Room B, Level 2, SECC, Ho Chi Minh City. This is the first of five specialized seminars at Vietfish 2026, focusing on key issues that are shaping the long-term development of Vietnam's seafood industry.
(seafood.vasep.com.vn) Vietnamese seafood exports recorded impressive growth, generating nearly 6 billion USD in revenue during the first six months of the year, up 13% compared with the same period last year.
(seafood.vasep.com.vn) Fishermen in Ha Tinh are gradually overcoming difficulties to maintain the efficiency of seafood exploitation. In the first six months of 2026, the entire province achieved a production of more than 23,000 tons of seafood, worth more than 1,200 billion VND.
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