FPT
Technology & IT Services · DCF · Comparable Analysis
FPT Corporation
FPT valuation separates the long-duration growth case from the public-market multiple check.
DCF
83.2k
+12.1%
DCF: 72.1k to 95.2k, base case 83.2k; +12.1% versus 74.2kComparable
76.2k–77.1k
+3.3%
Comparable: 76.2k to 77.1k; +3.3% versus 74.2kOutputs, VND per share
| DCF | 83.2k | +12.1% |
|---|---|---|
| Comparable | 76.2k–77.1k | +3.3% |
| Price used | 74.2k | 11 Jun 2026 |
Key assumptions
- DCF model
- FCFF DCF
- Discount rate / terminal value
- WACC 10.5%; exit EV/EBITDA 8.5x
- Operating case
- Revenue growth 12.0% to 8.0%
- Comparable set
- Tech, IT services, telecom peers
- Why methods differ
- DCF higher; comps lower
Conclusion
FPT now shows the intended split: DCF is the growth-upside case, while comparable analysis is the tighter public-market multiple check.
Key risks
- 1 A lower terminal multiple has a large impact because the company is valued as a duration growth asset.
- 2 IT-services growth, wage pressure, FX, and overseas demand are the main operating sensitivities.
- 3 Comparable valuation can compress if global technology multiples derate.