The Ho Chi Minh City Stock Exchange announces the ex-dividend date for the remaining 2024 cash dividend payment from FPT Corporation (code: FPT-HOSE)
Accordingly, FPT finalized its shareholder list for a 20% dividend payout, equivalent to VND 2,000 per share. The ex-dividend date was set for June 13, and the payment date was scheduled for June 20.
With 1,481,330,122 outstanding shares, FPT’s expected total dividend payout amounts to VND 1,481 billion.
Previously, FPT’s Board of Directors approved the issuance of bonus shares to increase capital from owner’s equity, as authorized by the 2025 Annual General Meeting of Shareholders. FPT plans to issue 222.2 million new shares, representing a 15% bonus ratio (for every 20 shares held, shareholders will receive 3 new shares). The issuance is expected to be completed by Q3 2025.
Regarding its financial performance for the first four months of 2025, FPT recorded revenue of VND 21,557 billion and pre-tax profit of VND 4,065 billion, up 13.5% and 17.9%, respectively, compared to the same period last year. Net profit attributable to the parent company (net profit) increased by 18% to VND 2,897 billion, corresponding to an EPS of VND 1,970 per share.
In April 2025 alone, FPT’s revenue reached VND 5,499 billion, a 12.3% increase year-over-year. Net profit for April also rose by 10% to VND 723 billion compared to the previous year.
For the full year 2025, FPT has set ambitious business targets, aiming for revenue of VND 75,400 billion and pre-tax profit of VND 13,395 billion, representing growth of 20% and 21%, respectively, compared to 2024. With the results achieved in the first four months, the corporation has accomplished approximately 30% of its annual targets.
Consequently, VCSC upgraded its recommendation for FPT shares from “Positive” to “Buy” but lowered its target price by 11% to VND 138,700 per share due to the stock’s 18% decline in the past three months.
VCSC stated that the share price adjustment has brought FPT’s forward P/E ratio for 2025/26 to 20.8x/17.0x (compared to a 3-year average of 20.5x), making it an attractive long-term investment opportunity.
According to VCSC, the 11% reduction in their target price for FPT reflects a 7% lower profit forecast for 2025, a 13%/15% decrease in the target P/E multiples for the overseas/domestic IT segments to 26x/18x (from 30x/21x) following a 5%/30% reduction in their projected net profit for 2024-27 for these segments (due to cautious IT spending indirectly impacted by macroeconomic uncertainties), and a change in the valuation methodology for the GPUaaS segment from DCF to target P/E multiples due to less clear long-term cash flow prospects amid rapid technological changes. These factors are partially offset by the positive impact of updating VCSC’s valuation model to mid-2026.
While VCSC projects FPT’s growth momentum to slow down in 2025, they maintain a positive outlook for the medium term, led by the global IT segment, which is well-positioned to benefit from increasing global IT spending, competitive labor cost advantages, and improved technological capabilities. This segment is further supported by FPT’s stable telecommunications and education businesses.
VCSC also noted that the supporting/risky factors for FPT include higher/lower global IT spending and digital transformation adoption rates, faster/slower progress on the FPT Fornix HCMC02 data center, and faster/slower acceleration in the utilization rate of AI factories.
On June 6, 2025, FPT shares closed at VND 115,000 per share, down 1.54%.
