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Chunghwa Telecom Co., Ltd.

CHT Communication Services Telecom Services

Chunghwa Telecom Co., Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $7.5 billion, up 7.33% from fiscal 2024.

Revenue
+5.50%
EPS
+2.33%
Free cash flow
+39.6%
Total debt
−18.3%

Quarter to June 2026, against a year earlier

48.80 0.18 −0.37%
Market cap
$37.9B
P/E
29.6×
Fwd P/E
—
Dividend yield
3.39%
F-score
8/9
Altman Z
5.66
Beneish M
−2.68
Dividend safety
40/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 37,900.00
Revenue ttm 7,827.54
Net income ttm 1,623.68
Free cash flow ttm 1,696.50
Net debt Q (1,715.34)
Valuation
P/E 29.58
Forward P/E —
Price / sales 4.84
Forward P/S Powerpack
Price / FCF 22.31
Price / book 3.13
Financial health
Current ratio Q 1.22
Debt / equity Q 0.07 (at or below 0.5: strong)
Interest coverage Q 125.87
Growth
Revenue growth Q +5.50% (above 0%: growing)
Operating income growth Q +3.11% (above 0%: growing)
EPS, this year +2.43%
EPS, next year A +2.98%
Revenue, next year A —
EPS, past 5 yrs +1.85%
EPS, next 5 yrs A +2.77%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.6×, against a ten-year median of 4.0×; over the ten years it ranged from 3.3× in 2018 to 4.9× in 2025.
P/E against its own 10 years 98.86%
10-year low 10-year high
P/S against its own 10 years 97.69%
10-year low 10-year high
P/B against its own 10 years 99.89%
10-year low 10-year high
EV/Sales against its own 10 years 97.29%
10-year low 10-year high
EV/FCF against its own 10 years 63.95%
10-year low 10-year high

Dividends

Yield
3.39%
Annual rate
1.65
Payout ratio
100.2%
Growth, 2018–26
+0.74%/yr
  1. 1.56 ’18
  2. 1.42 ’19 −9
  3. 1.44 ’20 +1
  4. 1.55 ’21 +8
  5. 1.53 ’22 −1
  6. 1.48 ’23 −4
  7. 1.46 ’24 −1
  8. 1.67 ’25 +14
  9. 1.65 ’26 −1
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,770 1,820 1,927 2,581
Receivables 3 6 7 5
Inventory 376 369 420 558
Other 318 360 394 385
3,371 3,445 3,742 4,558
2023 2024 2025 Q'26
Payables — — — —
ST’ Debt 71 275 72 136
Other 1,341 1,368 1,646 1,635
2,213 2,501 2,584 3,724

Compound Annual Growth %

10y 5y 3y
Sales 1.69% 0.36% 2.19%
Cash Flow 0.77% (1.42%) (0.04%)
Earnings (0.88%) 0.73% 1.42%
Book Value 0.90% (1.63%) (0.10%)

Earnings Trends EPS, adjusted, against the consensus

Dec 2012 Estimate 0.38 Actual 0.40

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2012 0.51 0.45 Miss by 0.06
Dec 2012 0.38 0.40 Beat by 0.02

EPS $

Mar Jun Sep Dec Year
’26 0.41 0.44 — — —
’25 0.38 0.43 0.41 0.39 1.60
’24 0.38 0.39 0.36 0.36 1.49
’23 0.41 0.42 0.37 0.33 1.53
’22 0.41 0.42 0.40 0.35 1.58
’21 0.40 0.41 0.43 0.40 1.65
’20 0.36 0.37 0.37 0.37 1.46
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,896 1,945 — — —
’25 1,697 1,844 1,935 2,052 7,527
’24 1,747 1,672 1,724 1,870 7,013
’23 1,784 1,743 1,696 2,067 7,289
’22 1,831 1,783 1,760 1,679 7,053
’21 1,784 1,776 1,827 2,202 7,588
’20 1,599 1,602 1,779 2,414 7,393
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 351 655 — — —
’25 394 558 567 951 2,469
’24 449 454 639 875 2,417
’23 369 559 649 859 2,436
’22 422 510 621 919 2,472
’21 352 640 731 977 2,699
’20 442 445 713 1,052 2,652
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 205 487 — — —
’25 228 348 361 644 1,582
’24 288 296 458 491 1,533
’23 189 353 435 448 1,425
’22 235 294 300 557 1,385
’21 193 260 439 525 1,417
’20 (1,255) 243 516 626 130
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 7,099 7,676 7,040 6,938 7,393 7,588 7,053 7,289 7,013 7,527 7,828 +0.7% — — — —
Gross margin, % 35.85 35.46 35.24 34.49 33.99 35.81 36.92 36.48 36.26 36.84 36.51 +1.0 pt
EBT 1,525 1,620 1,470 1,400 1,525 1,661 1,536 1,535 1,459 1,603 1,649 +0.6%
EBT margin, % 21.48 21.10 20.88 20.18 20.63 21.89 21.78 21.06 20.80 21.30 21.07 (0.2) pt
Net income 1,525 1,620 1,470 1,400 1,525 1,661 1,536 1,535 1,459 1,603 1,624 +0.6%
Per share, $
Per share, $ Revenue 9.15 9.90 9.07 8.94 9.53 9.78 9.09 9.40 9.04 9.70 10.09 +0.7%
Earnings 1.60 1.64 1.48 1.39 1.46 1.65 1.58 1.53 1.49 1.60 1.65 0.0%
Cash flow 2.58 3.09 2.79 3.12 3.42 3.48 3.19 3.14 3.12 3.18 3.25 +2.3%
Capex (0.95) (1.65) (1.21) (1.05) (3.25) (1.65) (1.40) (1.30) (1.14) (1.14) (1.07) +2.1%
Free cash flow 1.64 1.43 1.58 2.07 0.17 1.83 1.79 1.84 1.98 2.04 2.19 +2.5%
Book value 14.60 16.07 16.18 16.56 17.78 18.08 16.43 16.53 15.56 16.37 15.61 +1.3%
Shares, m 776 776 777 776 776 776 776 776 776 776 776 0.0%
Valuation, ×
Valuation, × P/E 19.93 21.88 23.70 27.13 26.27 25.58 23.59 25.42 25.27 25.91 29.58 24.5
P/S 3.46 3.65 3.95 4.13 4.05 4.32 4.10 4.14 4.16 4.30 4.84 4.0
P/B 2.17 2.25 2.21 2.23 2.17 2.33 2.27 2.35 2.42 2.55 3.13 2.3
EV/Sales 3.30 3.51 3.78 3.93 4.01 4.24 4.00 4.04 4.05 4.16 4.62 3.9
EV/FCF 18.46 24.25 21.69 17.01 228.28 22.69 20.39 20.68 18.51 19.78 21.30 41.2
Cash, $m
Cash, $m Operating cash flow 2,005 2,393 2,168 2,421 2,652 2,699 2,472 2,436 2,417 2,469 2,524 +2.3%
Capex (734) (1,283) (940) (817) (2,522) (1,282) (1,087) (1,011) (884) (887) (827) +2.1%
Free cash flow 1,271 1,110 1,228 1,604 130 1,417 1,385 1,425 1,533 1,582 1,697 +2.5%
Balance, $m
Balance, $m Working capital 539 520 930 934 305 894 1,112 1,158 944 1,158 834 +8.9%
Net debt (1,122) (1,096) (1,158) (1,333) (281) (585) (684) (703) (834) (1,061) (1,715) (0.6%)
Shareholders’ equity 11,325 12,463 12,562 12,848 13,791 14,028 12,741 12,826 12,071 12,702 12,112 +1.3%
Returns, %
Returns, % ROA 9.05 9.07 8.05 7.06 7.00 7.03 6.66 7.07 6.79 7.40 7.16 (1.7) pt
ROIC 9.10 8.67 7.82 7.38 6.98 7.53 7.90 7.81 7.95 8.31 9.58 (0.8) pt
ROE 10.90 11.06 9.81 8.67 8.93 9.23 8.84 9.44 9.11 9.96 10.33 (0.9) pt
People
People Employees 32,856 33,311 32,611 31,892 32,218 31,812 32,029 32,383 32,452 32,606 — (0.1%)
Revenue/emp, $m 0.22 0.23 0.22 0.22 0.23 0.24 0.22 0.23 0.22 0.23 — +0.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Chunghwa Telecom Co., Ltd. vs peers in Telecom Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CMCSA Comcast Corporation $88.6B 7.9× 7.9× −6.09% (below 0%: shrinking) +7.78% (above 0%: growing) −14.82% (below 0%: shrinking) 38.02% 18.16% Compare
AMX America Movil, S.A.B. de C.V. Unsponsored ADR $76.9B 14.4× 13.7× +15.58% (above 0%: growing) +23.68% (above 0%: growing) −25.28% (below 0%: shrinking) 63.33% 21.49% Compare
CHT Chunghwa Telecom Co., Ltd. $37.9B 29.6× — +5.50% (above 0%: growing) +2.33% (above 0%: growing) +39.64% (above 0%: growing) 37.54% 21.61%
VOD Vodafone Group PLC $37.0B 32.5× 13.4× −11.38% (below 0%: shrinking) −130.12% (below 0%: shrinking) −16.70% (below 0%: shrinking) 30.36% 0.00% Compare
ORANY Orange $29.8B 7.1× — −5.73% (below 0%: shrinking) +128.97% (above 0%: growing) +104.16% (above 0%: growing) 16.49% 0.00% Compare
ECHO EchoStar Corporation $26.2B 2.7× 3.9× −68.80% (below 0%: shrinking) n/m +133.30% (above 0%: growing) 42.28% 13.10% Compare
CHTR Charter Communications, Inc. $22.2B 3.2× 2.8× −1.74% (below 0%: shrinking) +14.35% (above 0%: growing) +45.18% (above 0%: growing) 39.27% 22.65% Compare
TELFY Telefonica SA $21.5B — (loss-making) 10.8× −5.45% (below 0%: shrinking) n/m −124.79% (below 0%: shrinking) 28.59% 10.79% Compare
VIV Telefonica Brasil S.A. $18.1B 29.4× 13.0× +20.64% (above 0%: growing) +33.01% (above 0%: growing) +3.07% (above 0%: growing) 45.54% 16.48% Compare
Median of peers $28.0B 7.9× 10.8× −5.59% +19.01% −5.87% 38.64% 14.79%

All 55 Telecom Services stocks →

Chunghwa Telecom Co., Ltd. (CHT) Latest News

4 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · GuruFocus.com
Impact 3 · · MarketBeat transcript
Impact 3 · · PR Newswire

21 Oct

Impact 3 · · Zacks

17 Sep

Impact 3 · · CNW Group

12 Aug

Impact 3 · · The Motley Fool transcript

5 Aug

Impact 3 · transcript
Impact 3 · · MarketBeat transcript

9 May

Impact 3 · · MarketBeat

8 May

Impact 4 · · GuruFocus.com

7 May

Impact 3 · · PR Newswire

28 Apr

Impact 4 · · Business Wire

27 Apr

Impact 4 · · GlobeNewswire

4 Feb

Impact 4 · · GuruFocus.com

3 Feb

Impact 4 · · MarketBeat transcript
Impact 4 · · Associated Press FinanceAssociated Press FinanceAssociated Press FinanceMT NewswiresZacksAssociated Press Finance
Impact 3 · · PR Newswire

30 Jan

Impact 3 · · Zacks

23 Jan

Impact 4 · · PR Newswire

14 Jan

Impact 3 · · ZacksZacksZacksZacksZacksZacksZacksZacks

15 Dec

Impact 4 · · PR Newswire

4 Dec

Impact 4 · · GlobeNewswire

17 Nov

Impact 3 · · Business Wire

6 Nov

Impact 4 · · Associated Press Finance
Impact 3 · · PR Newswire

3 Sep

Impact 4 ·
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2 Sep

Impact 4 ·

28 Aug

Impact 3 · · TipRanks

CHT metrics, ten years each

stockrow.com/CHT · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com