Stable Growth: FPT Continues to Rank Among the Top 50 Best Listed Companies

Recently, in HCMC, at the Award Ceremony for the Top 50 Most Efficient Companies in Vietnam in 2023 (TOP50 2023), FPT was honored as one of the Top 50 Listed Companies with the most efficient business and one of the 16 companies in the TOP 50 with a market capitalization of billions of USD. The results mark the 12th consecutive year that FPT has been named on this list.

TOP50 2023 is a ranking of value and credibility conducted annually by the Nhip Cau Dau Tu Magazine in coordination with Thien Viet Securities Company, with the consultation of leading economic and business experts from Harvard Business School. It aims to search for and honor the best-performing companies in the Vietnamese stock market, contributing significantly to the nation's economic growth.

Mr. Le Vu Minh, Director of FPT Digital Transformation Consulting, representing FPT Corporation, got the TOP50 2023 Award.

Over the past three years, despite the uncertainties in politics, natural disasters, and the pandemic, FPT has maintained sustainable double-digit growth. In terms of revenue and profit before tax, the Compound Annual Growth Rate (CAGR) of FPT for the 2020 - 2022 period reached 14% and 13%, respectively. The Return on Equity (ROE) has consistently exceeded 25%. In 2022, FPT's market capitalization reached 84.361 trillion VND. Notably, in 2023, its market capitalization surpassed 5 billion USD (equivalent to 122.933 trillion VND as of September 6, 2023). Also, in 2022, FPT gained over 1 billion USD in new overseas sales and received recognition from the Ministry of Information and Communications for the achievement.

For the first eight months of 2023, FPT achieved revenues and pre-tax profits of 32.827 trillion VND and 5.902 trillion VND, respectively, representing growth of 21.3% and 19.2% compared to the same period last year. In 2023, the Corporation aims to achieve revenue growth of 18.8% and profit growth of 18.2%, equivalent to 52.890 trillion VND and 9.055 trillion VND. 2023 is also the first year of implementing its DC5 strategy with the goal of becoming an organization that brings happiness to individuals, success to businesses, and prosperity to the nation.

As one of the world's leading and oldest companies in the financial services, investment banking, and asset management sectors, J.P.Morgan expects FPT to have strong growth in the coming period due to its cost competitiveness, technological capabilities (especially in digital transformation services), the growing customer base and large-scale contracts, along with its global strategy. J.P. Morgan also recommends buying FPT stock and forecasts a target price of 110,000 VND per share.

FPT has consistently ranked among the Top 50 Most Efficient Businesses in Vietnam for 12 years and affirmed its position as a leading enterprise with numerous prestigious awards locally and globally. Some of these awards include being named the Most Outstanding Company in Asia (Asia's Outstanding Companies Poll 2022), one of the Top 3 companies preferred by investors in terms of Investor Relations, and one of the Top 3 companies with the highest-rated Investor Relations by financial institutions, as well as recognition as one of the top 10 outstanding brands and one of the top 15 companies with excellent financial management capabilities.

According to the organizers, over the past 12 years, the market has witnessed the remarkable growth of Vietnamese enterprises, alongside the continuous development of the economy. Therefore, the TOP50 2023 will honor larger companies with higher market capitalization and stronger growth rates, deserving pride for the country.

As of March 2023, the market capitalization of companies in TOP50 2023 reached approximately 80 billion USD, accounting for 34% of the total market capitalization. 16 out of 50 companies have a market capitalization of billions of USD in this year's ranking. These 16 companies account for 29% of the total market capitalization and are all top companies in their respective industries. Regarding operational efficiency through the Return on Equity (ROE), the average ROE of TOP50 2023 is 19%, 1.8 times higher than the ROE of the listed market (11%).

In 2023, the revenue of the TOP50 companies reached nearly 42 billion USD, representing a growth of 3.4% compared to 2021 and accounting for 21.6% of the total income of the listed market. The after-tax profit amounted to nearly 7.8 billion USD, constituting 40% of the after-tax earnings of the listed market, more than 7.3 times higher than the rate of 5.4% observed in the market.

The evaluation and ranking are based on companies' business performance over three consecutive years using fundamental financial indicators, including revenue, return on equity (ROE), and earnings per share (EPS). The results are aimed at providing an objective assessment of business management capabilities.

TOP50 has become a platform for Vietnam's most prominent and best-performing businesses in various key economic sectors, such as technology, banking, manufacturing, retail, healthcare, and aviation, among others, to shine over the past decade. Notably, private enterprises have continuously risen, with many fast-growing and sustainable stars rising alongside Vietnam's economy. The business leaders of these companies deserve recognition for their positive contributions to billion-dollar businesses and internationally renowned Vietnamese brands.