Company Insight

Sao Ta Foods Corporation (HoSE: FMC) is one of the leading shrimp exporters in Vietnam, always maintaining its position in the top 5 largest shrimp exporters in the country. FMC currently owns 30% of raw shrimp and a farming area of 525ha. In 2024, FMC's NPAT reached a record level of VND 423 bn (+38.4% YoY), and FMC's export turnover in 2024 grew by 25% compared to the industry average of 13%. In 2025, despite fluctuations in trade policies when exporting to the US market, we expect FMC to steadily overcome challenges thanks to its market diversification strategy along with deep-processed products, increasing competitiveness compared to other supply sources. Based on FCFF and PE methods, with a weight of 50:50, we update FMC's target price at 55,700 VND.