FPT – Update – Valuation moved back into attractive territory
Posted: Aug 29, 2025
- 7M25 revenue +11.2% yoy, driven by Telecom; IT services faced challenges but improved vs 6M25. Net profit increased 20.1% yoy thanks to optimal cost savings and financial income.
- Valuing at attractive area with a P/E of 2025-26 of 16.7x, 28% lower than the 2-year average with the forecasted net profit growth to recover by 20% CAGR from 2025-27, we think this is the right time to start accumulating FPT.
- Reiterate ADD with target price of VND124,000/share.
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