FPT’s market value drops 114 trillion VND, exiting Vietnam’s top‑10 firms

Vietnam’s leading technology conglomerate FPT saw its market capitalisation shrink by about 114 trillion VND, roughly the combined value of three mid‑size banks, after its share price fell to 62,900 VND – the lowest level in 33 months and a drop of nearly 52% from the historical peak on 23 January 2025. Foreign investors were a key driver, selling a net 16,800 trillion VND of shares since the start of the year, the largest outflow on the exchange, and reducing foreign ownership to about 22% of the stock.

Despite the steep equity decline, FPT reported growth in its operating results. In the first half of 2026 the company generated 26,269 trillion VND of revenue and a pre‑tax profit of 5,714 trillion VND, up 12.6% and 18.1% year‑on‑year respectively, with after‑tax profit rising 14.1% to 5,055 trillion VND. However, second‑quarter revenue fell 17% YoY to 13,789 trillion VND, while after‑tax profit rose 14% to 2,568 trillion VND. International IT services revenue increased 13.4% to 18,902 trillion VND, driven largely by a 24.4% surge in the Japanese market. New contract revenue climbed 32.3% YoY to 26,338 trillion VND, and the firm won 14 projects worth over $10 million each, a 27.3% rise. Digital‑transformation revenue grew 23.8% to 9,610 trillion VND, with AI/Data Analytics sales jumping 54% to 1,842 trillion VND. Global IT spending is forecast to reach $6.31 trillion in 2026.