The ‘big players’ who pay off debts still have over ten trillion in cash

According to the Q2 2025 financial report, there are 10 companies on the Vietnamese stock exchange holding over 1 billion USD in cash and short-term deposits. The top five companies are Bao Viet Group, Vingroup, Vinhomes, Binh Son Refining and Petrochemical Company, and Viettel Global (VGI), with VGI possessing over 41 trillion VND in cash, accounting for 60% of its total assets. In the context of difficulties in raising capital, these companies are seen as having an advantage. However, a company’s true strength should be measured by its net cash, i.e., the difference between cash and liabilities. Currently, the Vietnam Gas Corporation (PV Gas) leads with 21.247 trillion VND in excess cash after settling its debts. Other major companies like VEAM, BSR, Viettel Global, and Sabeco still have over 10 trillion VND in cash. Notably, Sabeco and several private firms such as Duc Giang Chemical, Vinamilk, and QNS are also on this list. If distributed to shareholders, DGC would provide the highest dividend at 24,452 VND per share.