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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. In the quarter to June 2026, revenue grew 5.50%, EPS grew 2.33%, free cash flow grew 39.6% and total debt fell 18.3%, each against the same quarter a year earlier.

47.64 0.02 −0.04%
Market cap
$37.0B
P/E
28.9×
Fwd P/E
—
Dividend yield
3.47%
F-score
8/9
Altman Z
5.66
Beneish M
−2.68
Dividend safety
40/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 36,970.00
Revenue 7,827.54
Net Income 1,623.68
Free Cash Flow 1,696.50
Net Debt (1,715.34)
Current Ratio 1.22
Debt/Equity 0.07 (at or below 0.5: strong)
P/E ratio 28.87
Fwd P/E —
P/S ratio 4.72
P/B ratio 3.05
Past 5Y EPS Growth 1.85%
This Y EPS Growth 2.80%
Next Y EPS Growth 3.65%
Next Y revenue growth —
Next 5Y EPS Growth 3.28%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.5×, 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 97.38%
10-year low 10-year high
P/S against its own 10 years 96.06%
10-year low 10-year high
P/B against its own 10 years 99.96%
10-year low 10-year high
EV/Sales against its own 10 years 95.36%
10-year low 10-year high
EV/FCF against its own 10 years 58.63%
10-year low 10-year high

Dividends

Payout Ratio 1.00
Annual Dividend Rate 1.65
Annual Dividend Yield 3.47%
total individual payouts
2026 1.65
1.65
2025 1.67
1.67
2024 1.46
1.46
2023 1.48
1.48
2022 1.53
1.53
2021 1.55
1.55
2020 1.44
1.44
2019 1.42
1.42
2018 1.56
1.56
2017 1.64
1.64
2016 1.73
1.73
special payouts not included in total or ratios

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%)

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.

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.

Target Price Range

Analyst price targets

Recommendation Rating

2.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 29.31 31.28 34.02 33.61 34.46 38.49 32.90 35.45 35.92 36.61

Analyst estimates 2026–2028

Powerpack
High 38.47 36.37 39.33 37.57 39.47 42.87 45.87 41.58 40.62 47.03
People
People Employees 32,856 33,311 32,611 31,892 32,218 31,812 32,029 32,383 32,452 32,606
Revenue/emp, $m 0.22 0.23 0.22 0.22 0.23 0.24 0.22 0.23 0.22 0.23
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
Gross margin, % 35.85 35.46 35.24 34.49 33.99 35.81 36.92 36.48 36.26 36.84
EBT 1,525 1,620 1,470 1,400 1,525 1,661 1,536 1,535 1,459 1,603
EBT margin, % 21.48 21.10 20.88 20.18 20.63 21.89 21.78 21.06 20.80 21.30
Net income 1,525 1,620 1,470 1,400 1,525 1,661 1,536 1,535 1,459 1,603
Depreciation 1,002 1,077 1,041 1,176 1,295 1,385 1,283 1,295 1,208 1,281
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
Earnings 1.60 1.64 1.48 1.39 1.46 1.65 1.58 1.53 1.49 1.60
Cash flow 2.58 3.09 2.79 3.12 3.42 3.48 3.19 3.14 3.12 3.18
Capex (0.95) (1.65) (1.21) (1.05) (3.25) (1.65) (1.40) (1.30) (1.14) (1.14)
Free cash flow 1.64 1.43 1.58 2.07 0.17 1.83 1.79 1.84 1.98 2.04
Book value 14.60 16.07 16.18 16.56 17.78 18.08 16.43 16.53 15.56 16.37
Shares, m 776 776 777 776 776 776 776 776 776 776
Valuation, ×
Valuation, × P/E 19.93 21.88 23.70 27.13 26.27 25.58 23.59 25.42 25.27 25.91
P/S 3.46 3.65 3.95 4.13 4.05 4.32 4.10 4.14 4.16 4.30
P/B 2.17 2.25 2.21 2.23 2.17 2.33 2.27 2.35 2.42 2.55
EV/Sales 3.30 3.51 3.78 3.93 4.01 4.24 4.00 4.04 4.05 4.16
EV/FCF 18.46 24.25 21.69 17.01 228.28 22.69 20.39 20.68 18.51 19.78
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
Capex (734) (1,283) (940) (817) (2,522) (1,282) (1,087) (1,011) (884) (887)
Free cash flow 1,271 1,110 1,228 1,604 130 1,417 1,385 1,425 1,533 1,582
Balance, $m
Balance, $m Working capital 539 520 930 934 305 894 1,112 1,158 944 1,158
Total debt 53 56 55 56 1,020 1,032 1,067 1,067 986 866
Net debt (1,122) (1,096) (1,158) (1,333) (281) (585) (684) (703) (834) (1,061)
Shareholders’ equity 11,325 12,463 12,562 12,848 13,791 14,028 12,741 12,826 12,071 12,702
Returns, %
Returns, % ROA 9.05 9.07 8.05 7.06 7.00 7.03 6.66 7.07 6.79 7.40
ROIC 9.10 8.67 7.82 7.38 6.98 7.53 7.90 7.81 7.95 8.31
ROE 10.90 11.06 9.81 8.67 8.93 9.23 8.84 9.44 9.11 9.96
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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 $77.3B 7.1× 8.2× −1.23% (below 0%: shrinking) −66.78% (below 0%: shrinking) +2.27% (above 0%: growing) 37.09% 17.23% Compare
AMX America Movil, S.A.B. de C.V. Unsponsored ADR $68.7B 13.8× 12.1× +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. $37.0B 28.9× — +5.50% (above 0%: growing) +2.33% (above 0%: growing) +39.64% (above 0%: growing) 37.54% 21.61%
VOD Vodafone Group PLC $36.7B 32.7× 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 6.8× — −5.73% (below 0%: shrinking) +128.97% (above 0%: growing) +104.16% (above 0%: growing) 16.49% 0.00% Compare
ECHO EchoStar Corporation $25.3B — (loss-making) 68.0× −3.99% (below 0%: shrinking) n/m +64.20% (above 0%: growing) 34.37% 14.34% Compare
TELFY Telefonica SA $21.5B — (loss-making) 10.6× −5.45% (below 0%: shrinking) n/m −124.79% (below 0%: shrinking) 28.59% 10.79% Compare
VIV Telefonica Brasil S.A. $19.6B 25.1× 13.4× +20.64% (above 0%: growing) +33.01% (above 0%: growing) +3.07% (above 0%: growing) 45.54% 16.48% Compare
CHTR Charter Communications, Inc. $19.4B 2.8× 3.2× −1.74% (below 0%: shrinking) +14.35% (above 0%: growing) +45.18% (above 0%: growing) 39.27% 22.65% Compare
Median of peers $27.5B 10.4× 12.1× −2.86% +19.01% +2.67% 35.73% 15.41%

All 55 Telecom Services stocks →

Chunghwa Telecom Co., Ltd. (CHT) key facts

  • Strength: Chunghwa Telecom Co., Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $7.5 billion, up 7.33% from fiscal 2024.
  • Strength: Net income was $1.6 billion, or $1.60 per share (basic), a net margin of 16.4%.
  • Chunghwa Telecom Co., Ltd. (CHT) is a Telecom Services company in the Communication Services sector, traded in the US as an ADR.
  • As of October 16, 2026, CHT traded at $47.64, a market capitalization of $37.0 billion.
  • At that price the stock trades at 28.9× trailing-twelve-month earnings and 4.7× sales; its P/E is higher than 97% of its own readings over the past ten years.
  • Chunghwa Telecom Co., Ltd. pays an annual dividend of $1.65 per share, a yield of 3.47%, with a payout ratio of 100.2%.
  • Return on equity was 9.96% and debt-to-equity 0.07.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 5.66 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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

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