Big names drop out in major reshuffle of Vietnam’s profit ranking

The annual PROFIT500 ranking, released by Vietnam Report and VietNamNet, features 111 changes from 2025, including 49 companies appearing for the first time and 62 returning after previous appearances.

Petrovietnam, officially Vietnam National Industry - Energy Group, moved ahead of military-run telecoms group Viettel to take first place.

This is the seventh time Petrovietnam has topped the ranking since PROFIT500 was launched in 2017.

Viettel slipped to second, while Samsung Electronics Vietnam Thai Nguyen remained third.

Banks dominated the rest of the top 10.

VietinBank moved ahead of BIDV to rank fifth, Techcombank overtook Agribank to take eighth place, while VPBank rose from 11th to 10th.

According to the Vietnam Report, the top 10 companies generated 36.2 percent of the combined pre-tax profit of all 500 firms, down from 41 percent in 2017. The top 100 accounted for 81.8 percent.

The ranking also pointed to a broad improvement in corporate earnings.

A Vietnam Report survey found that 88.2 percent of companies reported higher profits, the highest share in five years, while only 11.8 percent saw profits decline, down sharply from 38.8 percent in 2025.

Among the biggest climbers, BIM Real Estate jumped from 386th to 81st, while Binh Son Refining and Petrochemical rose from 166th to 39th.

ABBank moved from 165th to 66th, VPBank Securities from 104th to 53rd, and automaker Thaco from 77th to 35th.

Major names drop out

Airports Corporation of Vietnam, or ACV, was the highest-ranked company on the 2025 list to disappear this year. The airport operator had appeared in PROFIT500 for nine consecutive years and ranked 14th in 2025.

Another 13 companies that had been on the list every year from 2017 to 2025 are also absent in 2026.

They include Duc Giang Chemicals, which ranked 55th last year, as well as VNPT VinaPhone, Hoang Huy Investment Financial Services and construction group Vinaconex.

Hau Giang Pharmaceutical, Tien Phong Plastic, PC1 Group and Kinh Bac City Development Holding also dropped out after nine consecutive appearances.

Other companies leaving the ranking include Saigon Newport Corporation, which was 29th in 2025, VNDirect Securities and industrial park developer Sonadezi.

49 companies debut

Among companies returning to or newly joining the ranking, TPBank placed highest at No. 25.

Power Generation Corporation 1 (EVNGENCO1), Petrolimex, Binh Minh Plastics and Dai Quang Minh Real Estate Investment also returned this year.

Among the 49 first-time entrants, Hoang Anh Gia Lai ranked highest at No. 89, followed by Hoa Phat Agriculture at No. 97, Woori Bank Vietnam at No. 112 and Cai Mep Gemadept-Terminal Link Port at No. 124.