Company Insight

FPT Corporation (HSX: FPT) is a leading technology company in Vietnam with three main business segments: Technology, Telecommunications, and Education. FPT plays a pivotal role in technology and digital transformation consulting for numerous domestic and international enterprises. With its strong technological capabilities and stable financial health, along with regular dividends, FPT is not only the top leading tech firm in Vietnam but also a worthwhile long-term investment.

Based on DCF and SoTP valuation methods, we initiate coverage of FPT with a BUY recommendation, at a target price of VND 157,300.

Key drivers for FPT's revenue and profit growth in the upcoming years:

(i) The sustained high demand for digital transformation and global IT spending;

(ii) FPT's transition within the software industry;

(iii) The stable performance of Telecom segment;

(iv) The Education segment ensuring a high-quality workforce in the future.