Announcement • Jul 11
FPT Securities Joint Stock Company Announces Change in Certificate of Business Registration FPT Securities Joint Stock Company announced based on the Certificate of business registration No. 0102324187 dated July 08, 2026 (for the eighth amended registration) issued by Hanoi Department of Finance, the change in the Certificate of business registration as follows: Information before change: Registered capital: VND 3,464,980,090,000. Information after change: VND 3,811,457,500,000. Reason for change (if any) is to increase registered capital. Effective date is July 8, 2026. Receipt date of new certificate of business registration is July 9, 2026. New Risk • Apr 24
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 7.9% per year over the past 5 years. High level of non-cash earnings (32% accrual ratio). Reported Earnings • Apr 22
First quarter 2026 earnings released First quarter 2026 results: Revenue: ₫361.0b (up 16% from 1Q 2025). Net income: ₫159.9b (up 4.5% from 1Q 2025). Profit margin: 44% (down from 49% in 1Q 2025). The decrease in margin was driven by higher expenses. New Risk • Apr 22
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 38% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 7.6% per year over the past 5 years. High level of non-cash earnings (38% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (32% net profit margin). Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: ₫1,161 (vs ₫1,574 in FY 2024) Full year 2025 results: EPS: ₫1,161 (down from ₫1,574 in FY 2024). Revenue: ₫1.21t (up 5.1% from FY 2024). Net income: ₫396.8b (down 25% from FY 2024). Profit margin: 33% (down from 46% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 30
FPT Securities Joint Stock Company, Annual General Meeting, Mar 31, 2026 FPT Securities Joint Stock Company, Annual General Meeting, Mar 31, 2026. New Risk • Jan 22
New major risk - Revenue and earnings growth Earnings have declined by 2.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 2.9% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (33% net profit margin). Announcement • Jan 21
Fpt Securities Joint Stock Company Announces Resignation of Nguyen Van Dung as Chairman of the Board of Director, Effective January 16, 2026 On January 16th, 2026, FPT Securities Joint Stock Company received a resignation letter from Mr. Nguyen Van Dung, Chairman of the Board of Directors, regarding his position as a member of the Board of Directors for the 2023 - 2028 term.
Pursuant to the current Law on Enterprises and the Company's Charter, the 2026 Annual General Meeting of Shareholders will proceed to approve the removal of Mr. Nguyen Van Dung from his position as a member of the Board of Directors for the 2023 - 2028 term. Announcement • Jan 02
FPT Securities Joint Stock Company Announces Resignation of Nguyen Thi Thu Huong as Chief Accountant FPT Securities Joint Stock Company received the resignation letter of Ms. Nguyen Thi Thu Huong as Chief Accountant on December 30, 2025. Reported Earnings • Oct 22
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: ₫284.4b (up 27% from 3Q 2024). Net income: ₫55.1b (down 32% from 3Q 2024). Profit margin: 19% (down from 36% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Oct 01
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Kenji Nakanishi was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Apr 30
Dividend of ₫500 announced Shareholders will receive a dividend of ₫500. Ex-date: 14th May 2025 Payment date: 12th June 2025 Dividend yield will be 1.3%, which is lower than the industry average of 2.3%. Reported Earnings • Apr 22
First quarter 2025 earnings released First quarter 2025 results: EPS: ₫500. Revenue: ₫312.1b (up 4.3% from 1Q 2024). Net income: ₫153.0b (down 8.2% from 1Q 2024). Profit margin: 49% (down from 56% in 1Q 2024). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₫40,950, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 17x in the Capital Markets industry in Vietnam. Total returns to shareholders of 48% over the past three years. Announcement • Feb 08
FPT Securities Joint Stock Company, Annual General Meeting, Apr 01, 2025 FPT Securities Joint Stock Company, Annual General Meeting, Apr 01, 2025. Location: meeting hall floor 11, head office of fpt securities joint stock company, 52 lac long quan street, buoi ward, tay ho district, ha noi city Vietnam Reported Earnings • Jan 19
Full year 2024 earnings released Full year 2024 results: Revenue: ₫1.15t (up 22% from FY 2023). Net income: ₫567.3b (up 28% from FY 2023). Profit margin: 49% (up from 47% in FY 2023). The increase in margin was driven by higher revenue. New Risk • Oct 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (5.4% average weekly change). Board Change • Sep 05
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Kenji Nakanishi was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorates as stock falls 28% After last week's 28% share price decline to ₫42,500, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 17x in the Capital Markets industry in Vietnam. Total returns to shareholders of 202% over the past three years. New Risk • May 06
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.3% average weekly change). High level of non-cash earnings (45% accrual ratio). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Declared Dividend • Apr 29
Dividend of ₫500 announced Shareholders will receive a dividend of ₫500. Ex-date: 15th May 2024 Payment date: 6th June 2024 Dividend yield will be 0.9%, which is lower than the industry average of 2.3%. New Risk • Apr 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 6.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (6.9% average weekly change). High level of non-cash earnings (45% accrual ratio). Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₫50,000, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 17x in the Capital Markets industry in Vietnam. Total returns to shareholders of 364% over the past three years. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₫58,000, the stock trades at a trailing P/E ratio of 25.2x. Average trailing P/E is 21x in the Capital Markets industry in Vietnam. Total returns to shareholders of 471% over the past three years. Announcement • Feb 20
FPT Securities Joint Stock Company, Annual General Meeting, Mar 28, 2024 FPT Securities Joint Stock Company, Annual General Meeting, Mar 28, 2024. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₫39,150, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 19x in the Capital Markets industry in Vietnam. Total returns to shareholders of 404% over the past three years. New Risk • Oct 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). High level of non-cash earnings (45% accrual ratio). Reported Earnings • Oct 20
Third quarter 2023 earnings released: EPS: ₫856 (vs ₫280 loss in 3Q 2022) Third quarter 2023 results: EPS: ₫856 (up from ₫280 loss in 3Q 2022). Revenue: ₫326.6b (up ₫272.2b from 3Q 2022). Net income: ₫183.7b (up ₫243.7b from 3Q 2022). Profit margin: 56% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₫38,600, the stock trades at a trailing P/E ratio of 33.2x. Average trailing P/E is 21x in the Capital Markets industry in Vietnam. Total returns to shareholders of 397% over the past three years. Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₫37,400, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 25x in the Capital Markets industry in Vietnam. Total returns to shareholders of 353% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₫43,950, the stock trades at a trailing P/E ratio of 37.8x. Average trailing P/E is 24x in the Capital Markets industry in Vietnam. Total returns to shareholders of 430% over the past three years. New Risk • Jul 26
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (35% net profit margin). Shareholders have been diluted in the past year (10% increase in shares outstanding). Reported Earnings • Jul 25
Second quarter 2023 earnings released: EPS: ₫653 (vs ₫384 in 2Q 2022) Second quarter 2023 results: EPS: ₫653 (up from ₫384 in 2Q 2022). Revenue: ₫259.8b (up 22% from 2Q 2022). Net income: ₫140.1b (up 87% from 2Q 2022). Profit margin: 54% (up from 35% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Member of the Board of Directors Thanh Nguyen was the last independent director to join the board, commencing their role in 2011. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 21
FPT Securities Joint Stock Company Approves Appointment of Nguyen Diep Tung as Chief Executive Officer of the Company The Board resolution dated July 18, 2022, the BOD of FPT Securities Joint Stock Company approved the appointment of Mr. Nguyen Diep Tung as Chief Executive Officer (CEO) of the Company from July 19, 2022. Upcoming Dividend • Jul 18
Upcoming dividend of ₫500 per share Eligible shareholders must have bought the stock before 25 July 2022. Payment date: 05 August 2022. Trailing yield: 1.2%. Lower than top quartile of Vietnamese dividend payers (7.7%). Lower than average of industry peers (4.6%). Announcement • Jul 16
FPT Securities Joint Stock Company Announces the Cash Dividend for 2021, Payable on August 05, 2022 FPT Securities Joint Stock Company announced cash dividend of 550 dongs per share for the year 2021. Payment date is August 05, 2022. Record date is July 26, 2022. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improved over the past week After last week's 19% share price gain to ₫36,200, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 8x in the Capital Markets industry in Vietnam. Total returns to shareholders of 257% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₫30,900, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 9x in the Capital Markets industry in Vietnam. Total returns to shareholders of 202% over the past three years. Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫41,850, the stock trades at a trailing P/E ratio of 36.2x. Average trailing P/E is 10x in the Capital Markets industry in Vietnam. Total returns to shareholders of 267% over the past three years. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Tung Tran was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 05
FPT Securities Joint Stock Company Announces Management Changes FPT Securities Joint Stock Company announced resolution of General Meeting of Shareholders dated March 29, 2022, the Company announced the changes in personnel as follows: Approved the appointment of Mr. Tran Thanh Tung as Independent member of BOD of the Company from March 29, 2022. Approved the resignation of Mrs. Nguyen Thi Thai Anh as Independent member of BOD of the Company from March 29, 2022. Announcement • Feb 15
FPT Securities Joint Stock Company, Annual General Meeting, Mar 29, 2022 FPT Securities Joint Stock Company, Annual General Meeting, Mar 29, 2022. Location: Floor 11st, 52 Lac Long Quan, Buoi Ward, Tay Ho District Ha Noi City Vietnam Agenda: To discuss and Report on the BOD; to report on the business result in 2020; to report on the business result in 2021; to report on the business plan in 2022; to discuss Audited financial statements in 2021 and plan for using the profit in 2021; to plan for stock issuance to raise capital in 2022; and to discuss other issues. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫61,400, the stock trades at a trailing P/E ratio of 53.1x. Average trailing P/E is 18x in the Capital Markets industry in Vietnam. Total returns to shareholders of 410% over the past three years. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improved over the past week After last week's 16% share price gain to ₫61,700, the stock trades at a trailing P/E ratio of 53.4x. Average trailing P/E is 15x in the Capital Markets industry in Vietnam. Total returns to shareholders of 473% over the past three years. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫54,100, the stock trades at a trailing P/E ratio of 46.8x. Average trailing P/E is 15x in the Capital Markets industry in Vietnam. Total returns to shareholders of 371% over the past three years. Upcoming Dividend • May 24
Upcoming dividend of ₫500 per share Eligible shareholders must have bought the stock before 31 May 2021. Payment date: 05 July 2021. Trailing yield: 1.8%. Lower than top quartile of Vietnamese dividend payers (7.8%). Lower than average of industry peers (2.6%). Is New 90 Day High Low • Jan 07
New 90-day high: ₫17,900 The company is up 34% from its price of ₫13,350 on 09 October 2020. The Vietnamese market is up 22% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Capital Markets industry, which is up 75% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: ₫14,400 The company is up 2.0% from its price of ₫14,100 on 18 September 2020. The Vietnamese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 42% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: ₫11,750 The company is down 1.0% from its price of ₫11,900 on 31 July 2020. The Vietnamese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 24% over the same period.