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Chunghwa Telecom Co., Ltd.NYSE:CHT Stock Report

Market Cap US$33.8b
Share Price
US$43.50
US$41.81
4.1% overvalued intrinsic discount
1Y-0.1%
7D0.3%
Portfolio Value
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Chunghwa Telecom Co., Ltd.

NYSE:CHT Stock Report

Market Cap: US$33.8b

Chunghwa Telecom (CHT) Stock Overview

Operates as an integrated telecommunications service provider in Taiwan and internationally. More details

CHT fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance4/6
Financial Health5/6
Dividends4/6

Rewards

Trading at 14.9% below our estimate of its fair value

Earnings grew by 3.7% over the past year

Risk Analysis

Dividend of 3.78% is not well covered by earnings


CHT Community Fair Values

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Chunghwa Telecom Co., Ltd. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Chunghwa Telecom
Historical stock prices
Current Share PriceNT$43.50
52 Week HighNT$47.03
52 Week LowNT$39.28
Beta0.11
1 Month Change2.11%
3 Month Change1.83%
1 Year Change-0.14%
3 Year Change6.36%
5 Year Change6.57%
Change since IPO149.93%

Recent News & Updates

Recent updates

Seeking Alpha • Nov 26

Chunghwa Telecom Remains A Hold, As Return Falls Short Of Our Benchmark

Summary Our portfolio includes Singtel and China Mobile, and we are evaluating Chunghwa Telecom for potential addition, given its role in the telecom ecosystem. CHT's revenue grew 2.1% YOY, but operating costs rose 3.2%; net income slightly decreased, and dividend yield is lower than peers. Despite a low dividend yield, the Company's share price increased by 4.9% since August 2023, but still lags behind China Mobile and Singtel. Risks include potential market share loss in Taiwan and geopolitical tensions with China; we remain cautious and seek other telecom opportunities. Read the full article on Seeking Alpha
Seeking Alpha • Aug 16

Chunghwa Telecom Mid-Year Review

Summary I discuss the investment thesis of having telecom companies in the portfolio that can withstand economic downturns. I analyze the financial performance of Taiwan's Chunghwa Telecom, highlighting its growth in revenue and net income. Chunghwa Telecom should improve its dividend payout ratio and I discuss the risks associated with the relationship between China and Taiwan. Read the full article on Seeking Alpha
Seeking Alpha • May 30

How Does Chunghwa Telecom Stack Up Against Asian Peers?

Summary Chunghwa Telecom's Q1 2023 results show revenue growth of 5.7% YoY and net income growth of 6.4% YoY. The company's balance sheet remains strong, but free cash flow decreased by 12%. Compared to its Asian peers, China Mobile appears more attractive based on fundamentals, while Chunghwa Telecom maintains a Hold stance. Read the full article on Seeking Alpha
Seeking Alpha • Feb 02

Chunghwa Telecom GAAP EPS of NT$1.09, revenue of NT$59.5B; initiates FY23 guidance

Chunghwa Telecom press release (NYSE:CHT): Q4 GAAP EPS of NT$1.09. Revenue of NT$59.5B (-0.7% Y/Y). EBITDA was NT$ 20.85B, remained flat. EBITDA margin was 35.05%, as compared to 34.82% in the same period of 2021. For 2023, the company expects total revenue to increase by NT$ 4.53~NT$6.05 billion, or 2.1%~2.8%, to NT$221.27~NT$222.79 billion as compared to the un-audited consolidated total revenue of 2022. Operating costs and expenses for 2023 are expected to increase by NT$ 6.60~NT$ 7.30 billion, or 3.9%~4.3%, to NT$176.59~NT$177.29 billion as compared to the prior year. Income from operations is expected to decrease by NT$ 0.85~NT$2.17 billion, or 1.8%~4.6% to NT$44.67~NT$45.99 billion, year over year. Income before income tax and net income attributable to stockholders of the parent are expected to be NT$44.86~NT$46.58 billion and NT$34.55~NT$36.10 billion, respectively. Basic earnings per share is expected to be NT$4.45~NT$4.65.
Seeking Alpha • Dec 16

Is Chunghwa Telecom In Taiwan Worthy Of A Place In Our Portfolio?

Summary Taiwan's leading telecom company is delivering growth in revenue and EPS. It is well funded with a good balance sheet. We take a look at it in relation to our other telecom companies in our portfolio and find that we have to initiate a hold stance for now. Investment Thesis Our portfolio is heavily tilted toward real estate and financials. Nevertheless, we understand the importance of diversification, as this is the only "free lunch" that is offered in the business of investing. We have had exposure towards telecom for years, and took the plunge into technology too this year, as we took a small position in Alibaba (BABA) which has gone from being a growth company to one looking more like a value proposition in our opinion. Within the telecom sector, we hold Singtel (OTCPK:SGAPY) and China Mobile (CHLKF) which is no longer trading in the U.S. We hold these companies through their listings in Singapore and Hong Kong. Both are great companies with good prospects. In our search to widen our exposure in telecom, we came across Chunghwa Telecom (CHT) in Taiwan. Introduction Chunghwa Telecom logo (Chunghwa Telecom) CHT was established in 1996 and is Taiwan's largest integrated telecommunication service provider. It offers fixed communication, mobile communication, broadband, and internet services. In addition, the Company also provides information and communication technology services to enterprise customers with big data, cybersecurity, cloud computing, and IDC capabilities, and is expanding businesses into emerging technology services such as big data, cloud services, artificial intelligence, and blockchain. Here is what we found when we started to look under the hood. 2022 Q3 Financial Results Let us start by stating that CHT is much smaller than both Singtel and China Mobile. Nevertheless, we have made a quick comparison between the three. Comparison between CHT, Singtel & China Mobile (Author) CHT's market share in the mobile phone market in Taiwan is 39.4%. After the introduction of 5G, they have managed to grow ARPU, which is the average revenue per unit, by 4.2% for the mobile phone sector. Its churn rate is the lowest amongst its peers in Taiwan with only 0.4%. Fixed broadband services are also seeing good growth in ARPU. Their enterprise business group division grew revenue by 5.1% year on year. An area of growth for many telecom companies now lies in big data and cloud services. CHT is no different. These grew by 73.3% and 26.4% respectively. The international business group division grew by 22.6%. In 2021 CHT had an EPS for the full year of NT$4.61. So far this year their EPS was NT$3.62 as of Q3 was slightly higher than the NT$3.50 it had in EPS the year before. The free cash flow up to and including Q3 was NT$27 billion. This is 8.3% higher than the corresponding period of 2021. Their EBITDA margin was 41.6%. The company has a good balance sheet with a debt ratio of 23.7% with zero debt in relation to its EBITDA when we take into account all its liabilities minus its cash and cash equivalents. Cash stood at NT$ 32.9 billion at the end of Q3. This equates to about USD 1.1 billion. Potential catalysts and risks to the thesis We do believe that CHT can continue to grow its top and bottom line modestly for the next few years. The market for both broadband internet and mobile subscriptions is fairly saturated and large investments are required for new developments similar to that of 5G. This will put a cap on the margin they can squeeze out of this. The area of a larger growth will be cloud computing and servicing the business community in Taiwan. This is set to be the catalyst.
Seeking Alpha • Nov 01

Chunghwa Telecom GAAP EPS of NT$1.20, revenue of NT$53.51B

Chunghwa Telecom press release (NYSE:CHT): Q3 GAAP EPS of NT$1.20. Revenue of NT$53.51B (+5.1% Y/Y). EBITDA for the third quarter of 2022 increased by 5.0% to NT$ 22.13B. EBITDA margin was 41.35%, as compared to 41.40% in the same period of 2021.
Seeking Alpha • Jul 29

Chunghwa Telecom GAAP EPS of NT$ 1.25, revenue of NT$ 52.44B

Chunghwa Telecom press release (NYSE:CHT): Q2 GAAP EPS of NT$ 1.25. Revenue of NT$ 52.44B (+5.7% Y/Y). Consumer Business Group revenue increased by 3.3% to NT$ 31.52 billion. Enterprise Business Group revenue increased by 9.4% to NT$ 17.75 billion. International Business Group revenue increased by 17.9% to NT$ 1.76 billion. As of June 30th, 2022, the Company maintained its leading position in the fixed-line market, with a total of 9.53 million subscribers. As of June 30th, 2022, the number of broadband subscribers slightly increased by 0.2% to 4.37 million. The number of HiNet broadband subscribers increased by 1% to 3.64 million. Total fixed broadband revenue grew 3.6% year over year to NT$ 10.59 billion, while ARPU increased 3.1% to NT$ 765. As of June 30th, 2022, Chunghwa Telecom had 12.23 million mobile subscribers, representing a 6.4% year-over-year increase. Total mobile service revenue increased by 6.1% to NT$ 15.20 billion, while mobile post-paid ARPU excluding IoT SIMs grew 4% year over year to NT$ 524.

Shareholder Returns

CHTUS TelecomUS Market
7D0.3%0.3%1.1%
1Y-0.1%-0.9%26.7%

Return vs Industry: CHT underperformed the US Telecom industry which returned 1.7% over the past year.

Return vs Market: CHT underperformed the US Market which returned 25.4% over the past year.

Price Volatility

Is CHT's price volatile compared to industry and market?
CHT volatility
CHT Average Weekly Movement1.8%
Telecom Industry Average Movement8.0%
Market Average Movement7.2%
10% most volatile stocks in US Market16.2%
10% least volatile stocks in US Market3.1%

Stable Share Price: CHT has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: CHT's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1996n/aChih-Cheng Chienwww.cht.com.tw

Chunghwa Telecom Co., Ltd., together with its subsidiaries, operates as an integrated telecommunications service provider in Taiwan and internationally. The company operates through Consumer Business, Enterprise Business, International Business, and Others segments. Its services primarily include mobile, fixed-line, information and communication technology (ICT), and sales and other services.

Chunghwa Telecom Co., Ltd. Fundamentals Summary

How do Chunghwa Telecom's earnings and revenue compare to its market cap?
CHT fundamental statistics
Market capUS$33.81b
Earnings (TTM)US$1.24b
Revenue (TTM)US$7.62b
27.3x
P/E Ratio
4.4x
P/S Ratio

Is CHT overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
CHT income statement (TTM)
RevenueNT$240.29b
Cost of RevenueNT$152.18b
Gross ProfitNT$88.11b
Other ExpensesNT$49.09b
EarningsNT$39.02b

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

n/a

Earnings per share (EPS)5.03
Gross Margin36.67%
Net Profit Margin16.24%
Debt/Equity Ratio7.1%

How did CHT perform over the long term?

See historical performance and comparison

Dividends

3.8%
Current Dividend Yield
103%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/14 14:03
End of Day Share Price 2026/05/14 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Chunghwa Telecom Co., Ltd. is covered by 23 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Anand RamachandranBarclays
Xinyi PangBofA Global Research
Frank LinCLSA