FCN.VN
Second WindFECON Corporation · Industrials · Vietnam · $68M cap · $279K/day traded
VND 11,150 +0.0% · close 6 Nov · scored 7 Nov
Score up 1.9 since 6 Nov.
Second Wind: Cheap with strong momentum, but the business does not earn the optimism.
As of 7 Nov 2026, the MoatMap Score for FECON Corporation (FCN.VN) is 58/100, ranked against 25,000+ stocks in 38 markets (Quality 38, Value 59, Momentum 56, each scored against its sector).
Does the score work? Each tenth of the ranking, tracked monthly. See the record →
ABOUT FECON CORPORATION
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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...
FINANCIAL SUMMARY (VND)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM |
|---|---|---|---|---|---|---|
| Revenue | 3.0T | 2.9T | 3.4T | 4.9T | 16.9% | 6.6T |
| EPS (VND) | 187.00 | -221.00 | 44.00 | 201.00 | 2.4% | 584.02 |
| Shares | 157.4M | 157.4M | 157.4M | 157.4M | 0.0% | 157.4M |
| Debt | 2.7T | 2.9T | 3.9T | 4.1T | 14.7% | 4.4T |
| Equity | 2.6T | 2.5T | 2.5T | 2.5T | -1.4% | — |
| Op CF | -202.9B | 410.4B | -171.0B | -86.2B | — | 624.2B |
| Inv CF | -469.2B | 5.8B | -881.4B | -527.7B | — | — |
| Fin CF | 534.1B | 109.8B | 823.7B | 902.4B | — | — |
No new 52-week low for 4 weeks, 12% above that low, but not back above a rising 50-day average.
The Momentum score still reads 56: it looks back six months, so it has not caught up with this fall.
Calmer than 73% of stocks we rank over the past year (volatility 30% a year).
How this is worked out
The MoatMap Score weighs the business, its price and its trend. The price check reads only the chart: the price side of the Momentum score, in words.
The rules: Still falling is a new 52-week low in the last two weeks, at least 25% below the high. Finding a floor is no new low since. Turning up is 20 or more trading days without a new low, at least 10% off it, and back above a rising 50-day average. In an uptrend is above the 200-day average and within 15% of the high.
In 2,112 US drawdowns since 2001, buying while the price was still falling was followed by a further 20% drop 42% of the time. Waiting for a turn (the Turning up rule above) cut that to 33%, at about 7% higher prices and with no better returns. Part of that cut is simply not buying: 13% of falls never turned, and waiting kept those out. Among turns that were bought, 38% still fell another 20%, and 33% of turns were followed by a new low within six months. The benefit was largest in crashes such as 2008 and 2020.
What it measures: how much the price moved day to day over the past year, scaled to a yearly figure (annualised volatility) and ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Industrials, ranked by industry match, size, and score similarity. Cross-listings of FCN.VN are excluded.
| Ticker | Company | Mkt Cap | Score |
|---|---|---|---|
| FCN.VN | FECON Corporation(you) | $68M | 58 |
| NTC.VN | Nam Tan Uyen Joint Stock Corporation | $121M | 55 |
| CTD.VN | Coteccons Construction Joint Stock Company | $297M | 57 |
| DPG.VN | Dat Phuong Group Joint Stock Company | $152M | 35 |
| NTL.VN | Tu Liem Urban Development Joint Stock Company | $57M | 20 |
| IJC.VN | Becamex Infrastructure Development Joint Stock Company | $175M | 34 |
| PC1.VN | PC1 Group Joint Stock Company | $306M | 76 |
| CTR.VN | Viettel Construction Joint Stock Corporation | $335M | 75 |
| REE.VN | Refrigeration Electrical Engineering Corporation | $1.1B | 63 |
| VCG.VN | Vietnam Construction and Import-Export Joint Stock Corporation | $455M | 85 |
Peer medians: ROE 17.7% · P/E 10.7x · Gross margin 30.7%
Company Deep Dive
A 10,000-word report: the business and its segments, what management promised on earnings calls and whether it delivered, the competition, and how things could turn out.