Vietnamese (HOSE) IT Industry Analysis

Industry Valuation and Performance

Has the Vietnamese IT Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 07 Jun 2026	₫136.7t	₫80.6t	₫9.7t	16.9x	14x	1.7x
Tue, 05 May 2026	₫134.7t	₫79.5t	₫9.7t	18x	13.9x	1.7x
Thu, 02 Apr 2026	₫137.8t	₫83.1t	₫9.4t	18.4x	14.7x	1.7x
Sat, 28 Feb 2026	₫169.3t	₫83.1t	₫9.4t	19.1x	18x	2x
Mon, 26 Jan 2026	₫184.0t	₫79.7t	₫8.9t	20.6x	20.6x	2.3x
Wed, 24 Dec 2025	₫171.1t	₫78.3t	₫8.9t	12.3x	19.2x	2.2x
Fri, 21 Nov 2025	₫179.8t	₫78.1t	₫8.8t	12.5x	20.4x	2.3x
Sun, 19 Oct 2025	₫160.9t	₫76.4t	₫8.4t	14.2x	19.1x	2.1x
Tue, 16 Sep 2025	₫185.3t	₫76.3t	₫8.4t	16.5x	22x	2.4x
Thu, 14 Aug 2025	₫191.5t	₫76.3t	₫8.4t	14.5x	22.7x	2.5x
Sat, 12 Jul 2025	₫195.6t	₫74.4t	₫8.1t	24.1x	24.2x	2.6x
Mon, 09 Jun 2025	₫179.4t	₫74.2t	₫8.0t	22.2x	22.3x	2.4x
Wed, 07 May 2025	₫171.3t	₫74.2t	₫8.0t	21.2x	21.3x	2.3x
Fri, 04 Apr 2025	₫177.2t	₫72.3t	₫7.7t	23.6x	23.1x	2.4x
Sun, 02 Mar 2025	₫218.7t	₫72.3t	₫7.7t	28.6x	28.6x	3x
Tue, 28 Jan 2025	₫238.6t	₫72.1t	₫7.6t	33.2x	31.5x	3.3x
Thu, 26 Dec 2024	₫235.4t	₫69.1t	₫7.3t	36.9x	32.3x	3.4x
Sat, 23 Nov 2024	₫209.8t	₫69.1t	₫7.3t	34.2x	28.8x	3x
Mon, 21 Oct 2024	₫214.1t	₫66.8t	₫6.9t	32.6x	30.8x	3.2x
Wed, 18 Sep 2024	₫206.4t	₫66.8t	₫6.9t	31.7x	29.7x	3.1x
Fri, 16 Aug 2024	₫199.9t	₫66.8t	₫6.9t	30.8x	28.8x	3x
Sun, 14 Jul 2024	₫210.4t	₫64.0t	₫6.6t	31.5x	31.9x	3.3x
Tue, 11 Jun 2024	₫196.4t	₫63.9t	₫6.6t	29.4x	29.7x	3.1x
Thu, 09 May 2024	₫178.9t	₫63.9t	₫6.6t	26.8x	27x	2.8x
Sat, 06 Apr 2024	₫156.0t	₫61.6t	₫6.3t	24.7x	24.6x	2.5x
Mon, 04 Mar 2024	₫151.1t	₫61.6t	₫6.3t	23.8x	23.8x	2.5x
Wed, 31 Jan 2024	₫131.3t	₫61.5t	₫6.3t	23.4x	20.9x	2.1x
Fri, 29 Dec 2023	₫132.8t	₫60.0t	₫6.0t	24.2x	22.1x	2.2x
Sun, 26 Nov 2023	₫125.3t	₫60.0t	₫6.0t	23.7x	20.9x	2.1x
Tue, 24 Oct 2023	₫133.8t	₫59.3t	₫6.0t	24.6x	22.4x	2.3x
Thu, 21 Sep 2023	₫144.4t	₫56.7t	₫5.7t	24.4x	25.4x	2.5x
Sat, 19 Aug 2023	₫126.3t	₫56.7t	₫5.7t	30.6x	22.2x	2.2x
Mon, 17 Jul 2023	₫108.3t	₫55.0t	₫5.4t	21.3x	19.9x	2x
Wed, 14 Jun 2023	₫101.1t	₫55.0t	₫5.4t	20x	18.6x	1.8x

Current Industry PE

Investors are pessimistic on the Vietnamese IT industry, indicating that they anticipate long term growth rates will be lower than they have historically.

The industry is trading at a PE ratio of 14.0x which is lower than its 3-year average PE of 23.6x.

The 3-year average PS ratio of 2.5x is higher than the industry's current PS ratio of 1.7x.

Past Earnings Growth

The earnings for companies in the IT industry have grown 21% per year over the last three years.
Revenues for these companies have grown 14% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Vietnamese Tech industry?


VN Market	-1.32%
Tech	4.04%
IT	4.55%
IT Consulting	4.55%

Industry PE

Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 23.6x.

Analysts are expecting annual earnings growth of 15.2%, which is lower than the prior year's growth of 20.6% per year.

Investors are most pessimistic about the IT Consulting industry, which is trading below its 3-year average of 23.6x.

Forecasted Growth

Analysts are most optimistic on the IT Consulting industry, expecting annual earnings growth of 15% over the next 5 years.
However this is lower than its past earnings growth rate of 21% per year.

In contrast, the IT Consulting industry is expected to see its earnings grow by 15% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
FPT FPT	₫75.00k	4.7% +₫5.8t	-25.0%	PE13.9x
CMG CMC	₫27.65k	2.4% +₫151.4b	-12.2%	PE16x
ELC ELCOM Technology Communications	₫16.10k	0.6% +₫11.0b	-25.9%	PE14.1x
ONE One Technologies	₫11.30k	6.6% +₫5.5b	126.0%	PE49.5x
VLA Van Lang Technology Development and Investment	₫8.00k	11.1% +₫3.2b	-29.2%	PE35.2x

Fpt Corporation Launches Flezi Foundry

FPT Corporation announced the launch of Flezi Foundry (FPT Digital Foundry), an AI-augmented delivery platform for software development and IT operations. Built around a governed Service-as-a-Software model, the platform combines autonomous AI agents, human expert oversight, secure infrastructure, and outcome-based delivery mechanisms to help enterprises modernize technology delivery as AI agents become part of software engineering and IT operations. Flezi Foundry applies Agentic Engineering, a structured delivery approach for software development and IT operations. The model brings AI agents into delivery workflows with human supervision, governance, transparency, and performance measurement built into the process. Flezi Foundry operates through two service modes: Agentic Development Lifecycle (ADLC) supports software development by using specialized AI agents across planning, coding, review, testing, security, and documentation. Working under human supervision, the model is designed to improve delivery capacity, quality, and transparency, aiming to deliver up to 30% more output within the same budget. Agentic Managed Services (AMS) applies the same human-agent model to IT operations. Operations agents assist with alert triage, incident resolution, remediation, and service improvement, helping enterprises improve response times, increase automation, and strengthen service performance over time. At maturity, the platform is designed to automate resolution for 60% to 90% of first-line support requests and support 99.5% service-level compliance. The platform is built on four foundations. These include hybrid sovereign infrastructure combining Azure Virtual Private Cloud and FPT AI Factory; Hybrid FTE Pods, where human supervisors govern AI agents through Human-in-the-Loop and Human-on-the-Loop models; capacity-based pricing linked to story-point velocity and outcome-based SLA tiers; and a Digital Brain and Skill Marketplace that captures reusable standards, runbooks, and expertise. To support lower-risk adoption, FPT also provides a structured transition pathway. This begins with a discovery workshop to establish baselines, followed by pilot testing through A/B delivery teams or shadow-mode operations before progressing to full-scale deployment. The launch advances FPT’s broader AI-first growth strategy, building on FleziPT, FPT’s AI-first platform for enterprise transformation, and extending that foundation into software development and IT operations through Flezi Foundry. Together with FPT’s AI Factories in Vietnam and Japan, an AI-augmented workforce, global delivery network, and enterprise AI solution portfolio, the platform reflects FPT’s continued shift toward AI-first services with governed delivery models, repeatable practices, and outcome-based engagement structures. In 2025, FPT reported a total revenue of USD 2,660 million and a workforce of over 54,000 employees across its core businesses.

Vietnamese (HOSE) IT Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Fpt Corporation Launches Flezi Foundry

Investor sentiment deteriorates as stock falls 19%

New major risk - Earnings quality

New major risk - Earnings quality

New minor risk - Profit margin trend

New major risk - Earnings quality