diff --git a/news/4387.bugfix.rst b/news/4387.bugfix.rst
new file mode 100644
index 00000000..a17b5690
--- /dev/null
+++ b/news/4387.bugfix.rst
@@ -0,0 +1 @@
+Fix a bug that VCS dependencies always satisfy even if the ref has changed.
diff --git a/pipenv/environment.py b/pipenv/environment.py
index 508b615e..88c6dbb0 100644
--- a/pipenv/environment.py
+++ b/pipenv/environment.py
@@ -790,6 +790,8 @@ class Environment(object):
                     vcs_type == req.vcs and commit_id == req.commit_hash
                     and direct_url_metadata["url"] == pipfile_part[req.vcs]
                 )
+            elif req.is_vcs or req.is_file_or_url:
+                return False
             elif req.line_instance.specifiers is not None:
                 return req.line_instance.specifiers.contains(
                     match.version, prereleases=True