FCN.VN Fecon Foundation Engineering and Underground Construction JSC
- Market cap
- VND 1.68T
- P/E
- 17.8x
- P/B
- 0.66x
- ROE
- 4.7%
- Dividend yield
- 3.90%
- Fundamental score
- 2.1/5
Ratios use the latest price and the current fiscal year annualized from 2 quarters up to Jun 2026.
Is FCN.VN undervalued?
Graham numberFCN.VN trades 27.9% below its Graham number.
Graham number = √(22.5 × EPS × book value per share): the most a defensive investor should pay according to Benjamin Graham. An estimate, not a recommendation to buy or sell. How is it calculated?
Fecon Foundation Engineering and Underground Construction JSC fundamental analysis
11 of 22 checks passedROE 0/2
Low return on equity (4.7%), below 10%.
ROA 0/1
Return on assets (1.1%) is below the industry median (3.0%).
Profit Consistency 0/2
Not profitable for at least 3 consecutive years.
Earnings Growth 5Y 0/1
Earnings per share did not grow over the past 5 years.
Earnings Acceleration 1/1
Last year's EPS growth (240.8%) is above the 5-year average (-26.8% a year).
Earnings Growth vs Industry 1/1
Last year's EPS growth (240.8%) is above the industry median (46.0%).
Revenue Growth 2/2
Revenue grew 16.9% a year over the past 3 years.
Short-term Liquidity 1/1
Current assets cover short-term liabilities.
Long-term Liabilities 1/1
Current assets cover long-term liabilities.
Debt to Equity 1/2
Moderate debt to equity (48.2%), up to 100%.
Debt Trend 0/1
Debt to equity has risen over the past 5 years.
Debt Coverage 1/1
Operating cash flow covers 20% of total debt.
Interest Coverage 0/1
EBIT is 1.9x against interest expense, below 5x.
PE vs Market 0/1
PE (17.8x) is above the market median (11.2x).
PE vs Industry 0/1
PE (17.8x) is above the industry median (11.8x).
PBV 1/1
Price to book (0.7x) is below the industry median (1.0x).
Graham Number 1/1
The price is below the Graham number (PE x PB = 11.8, limit 22.5).
PEG 0/1
PEG needs positive PE and positive 5-year earnings growth.
Dividend Yield 1/2
Dividend yield (3.9%) is above the bottom 25% of dividend payers in the market.
Dividend Stability 0/2
Dividends were not paid steadily for the past 5 years.
Dividend Growth 1/1
Dividends paid grew over the past 5 years.
Payout Ratio 0/1
Payout ratio is 206.9%, above 90% of earnings.
Each check is worth 1 or 2 points by how much it says about the quality of the company. The score is the share of points earned, out of 5. Ask AI to explain this score
Fecon Foundation Engineering and Underground Construction JSC stock price
Prices on the chart can differ slightly from the closing prices StockSummer uses for its ratios.
About Fecon Foundation Engineering and Underground Construction JSC
FECON Corporation operates as an infrastructure construction and development company in Vietnam. The company engages in the construction of industrial and urban infrastructure, bridges, roads, railways, airports, waterworks, and climate-resilient hydraulic infrastructure; pile supply and piling works, bored pile and d-wall construction, soil improvement, and basement and sub-structures construction; and underground construction, including TBM and pipe jacking construction, w…
Full company profileFecon Foundation Engineering and Underground Construction JSC financial statements
2026 annualized: Fiscal year 2026 is not finished. Income statement and cash flow are annualized from 2 quarters up to Jun 30, 2026, the balance sheet is the latest quarter. Figures change when the annual report is published.
Fecon Foundation Engineering and Underground Construction JSC annual financial statements (VND; K = thousand, M = million, B = billion, T = trillion)
| Item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 Anlz |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 3.09T | 3.15T | 3.48T | 3.05T | 2.88T | 3.37T | 4.86T | 6.43T |
| Gross Profit | 434B | 473B | 470B | 356B | 485B | 441B | 703B | 727B |
| Operating Income | 267B | 288B | 263B | 130B | 263B | 210B | 409B | 446B |
| EBITDA | 437B | 342B | 352B | 445B | 411B | 442B | 548B | 579B |
| Net Income | 201B | 119B | 68.4B | 39.6B | -32.1B | 9.27B | 31.6B | 123B |
| EPS | 1,598 | 957 | 545 | 252 | -204 | 59 | 201 | 780 |
| Balance Sheet | ||||||||
| Total Assets | 5.65T | 6.78T | 7.50T | 7.58T | 8.58T | 9.71T | 10.2T | 11.1T |
| Total Liabilities | 3.20T | 4.28T | 4.57T | 4.10T | 5.22T | 6.34T | 6.87T | 7.72T |
| Shareholders' Equity | 2.19T | 2.22T | 2.65T | 2.65T | 2.50T | 2.51T | 2.53T | 2.59T |
| Cash & Short-term Investments | 236B | 358B | 312B | 175B | 702B | 473B | 761B | 490B |
| Cash Flow | ||||||||
| Operating Cash Flow | -28.6B | 88.7B | -110B | -209B | -102B | -171B | -86.2B | 344B |
| Capital Expenditure | 80.3B | 404B | 1.22T | 103B | 63.1B | 1.02T | 642B | 932B |
| Free Cash Flow | -109B | -316B | -1.33T | -341B | -166B | -1.19T | -728B | -588B |
| Ratios | ||||||||
| ROE | 9.1% | 5.4% | 2.6% | 1.5% | -1.3% | 0.4% | 1.2% | 4.7% |
| ROA | 3.6% | 1.8% | 0.9% | 0.5% | -0.4% | 0.1% | 0.3% | 1.1% |
| Net Profit Margin | 6.5% | 3.8% | 2.0% | 1.3% | -1.1% | 0.3% | 0.6% | 1.9% |
What these items mean
- Revenue
- Total sales of goods and services in the period.
- Gross Profit
- Revenue minus the direct cost of producing what was sold.
- Operating Income
- Profit from the core business after operating expenses.
- EBITDA
- Earnings before interest, taxes, depreciation and amortization.
- Net Income
- Profit left for shareholders after all expenses, interest and taxes.
- EPS
- Net income divided by shares outstanding.
- Total Assets
- Everything the company owns.
- Total Liabilities
- Everything the company owes.
- Shareholders' Equity
- Assets minus liabilities: the book value that belongs to shareholders.
- Cash & Short-term Investments
- Cash and investments that can be turned into cash quickly.
- Operating Cash Flow
- Cash generated by the core business.
- Capital Expenditure
- Cash spent on property, plant and equipment.
- Free Cash Flow
- Operating cash flow minus capital expenditure: cash left for dividends, buybacks or debt repayment.
- ROE
- Return on equity: net income divided by shareholders' equity.
- ROA
- Return on assets: net income divided by total assets.
- Net Profit Margin
- Net income as a share of revenue.
Fecon Foundation Engineering and Underground Construction JSC dividends
- Dividend yield
- 3.90%
- Forward dividend
- 800.00 VND
- Payout ratio
- 206.9%
- Ex-dividend date
- Dec 17, 2025
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2025 | VND 65.4B | 415 | 206.9% |
| 2024 | VND 15.8B | 100 | 170.5% |
| 2023 | VND 53.5B | 340 | - |
| 2022 | - | - | - |
| 2021 | VND 40.9B | 326 | 59.8% |
| 2020 | VND 59.0B | 476 | 49.7% |
| 2019 | VND 56.9B | 454 | 28.4% |
From the cash flow statement: dividends paid in the fiscal year, divided by that year's shares outstanding. Payout ratio = dividends paid / net income.
Last stock split: 105:100 on Dec 10, 2020.
Who owns Fecon Foundation Engineering and Underground Construction JSC
- Insiders 34.08%
- Institutions 0.22%
- Public & others 65.70%
- Shares outstanding 157M
- Free float 116M
Fecon Foundation Engineering and Underground Construction JSC company profile
- Company name
- Fecon Foundation Engineering and Underground Construction JSC
- Ticker
- FCN.VN
- ISIN
- VN000000FCN2
- Exchange
- Vietnam Stocks
- Sector
- Industrials
- Industry
- Engineering & Construction
- Employees
- 1,567
- Fiscal year end
- December
- Address
- CEO Tower, Hanoi, Vietnam
- Phone
- 84 24 6269 0481
- Website
- fecon.com.vn
About Fecon Foundation Engineering and Underground Construction JSC
FECON Corporation operates as an infrastructure construction and development company in Vietnam. The company engages in the construction of industrial and urban infrastructure, bridges, roads, railways, airports, waterworks, and climate-resilient hydraulic infrastructure; pile supply and piling works, bored pile and d-wall construction, soil improvement, and basement and sub-structures construction; and underground construction, including TBM and pipe jacking construction, waterproofing, deep excavation, and construction and operation monitoring services. It also provides heavy industrial construction services, such as thermal power plants, industrial parks, and manufacturing complexes; wind and solar power plants; and civil and light industrial construction. In addition, the company invests in road and highway, port, railway, and bridge projects; solar, wind, hydro power, and LNG combined infrastructure; and industrial park and urban development activities. The company was formerly known as FECON Foundation Engineering and Underground Construction Joint Stock Company and changed its name to FECON Corporation in May 2016. FECON Corporation was founded in 2004 and is based in Hanoi, Vietnam.
Fecon Foundation Engineering and Underground Construction JSC management
10- Mr. Tung Thanh NguyenGeneral Director, CEO & Member of Management Board
- Mr. Thanhh Van NguyenDirector & Chairman of the Management Board
- Mr. Bao Quoc NguyenStanding Deputy General Director & Member of Management Board
- Mr. Cuong Manh DoDeputy General Director & Member of Management Board
- Mr. Huyen Duc PhamMember of Management Board
- Ms. Nghien Thi NguyenChief Financial Officer · born 1976
- Mr. Bach Mon BuiDeputy General Director & Member of Management Board
- Mr. Tung Van PhamChief Accountant
- Mr. Haruo IshiguroMarketing Director
- Mr. Thanh Cong NguyenSecretary