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CHT

Chunghwa Telecom Co., Ltd.

CHT

Chunghwa Telecom Co., Ltd. • NYSE
$41.81 ▼ -0.24% (-0.10)
Market Cap $32.43 B
52w High $47.03
52w Low $36.61
Dividend Yield 1.67%
P/E 26.63
Volume 91.58K
Outstanding Shares 775.74M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $57.924B ▲ $9.412B ▲ $9.44B ▼ 16.297% ▼ $12.2 ▼ $21.147B ▼
Q2-2025 $56.396B ▲ $8.896B ▲ $10.167B ▲ 18.028% ▲ $13.1 ▲ $23.257B ▲
Q1-2025 $55.429B ▼ $8.703B ▼ $9.799B ▲ 17.679% ▲ $12.6 ▲ $22.797B ▲
Q4-2024 $64.741B ▲ $9.461B ▲ $8.973B ▼ 13.859% ▼ $11.6 $22.044B ▲
Q3-2024 $55.342B $8.758B $9.005B 16.271% $11.6 $21.459B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $37.807B ▼ $513.113B ▼ $122.758B ▼ $376.614B ▲
Q2-2025 $73.949B ▲ $544.484B ▲ $164.861B ▲ $366.735B ▼
Q1-2025 $65.011B ▲ $537.23B ▲ $128.955B ▼ $395.404B ▲
Q4-2024 $58.943B ▲ $534.297B ▲ $138.491B ▲ $382.826B ▲
Q3-2024 $45.119B $509.623B $122.935B $374.105B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $287.636M ▼ $0 ▼ $0 ▲ $0 ▲ $-1.199B ▼ $0 ▼
Q2-2025 $13.13B ▲ $16.332B ▲ $-8.928B ▲ $-1.27B ▼ $5.985B ▲ $9.379B ▲
Q1-2025 $12.699B ▲ $12.951B ▼ $-19.143B ▲ $-1.059B ▼ $-7.212B ▼ $7.169B ▼
Q4-2024 $12.017B ▲ $29.487B ▲ $-24.204B ▼ $-243.259M ▲ $5.045B ▲ $16.65B ▲
Q3-2024 $11.489B $20.526B $11.42B $-38.459B $-6.497B $14.726B

Five-Year Company Overview

Income Statement

Income Statement Chunghwa Telecom’s income statement shows slow but steady growth in revenue and profit over the past five years, which is typical of a mature telecom operator. Profitability has remained solid and fairly stable, suggesting good cost control and pricing discipline despite competitive pressure. Operating profit has inched up over time, indicating that the core business remains resilient rather than shrinking. One watch point is that cash-style earnings (like EBITDA) have softened a bit recently after peaking, which may reflect normalizing pandemic benefits or higher operating costs. Overall, the income profile looks like a stable utility with modest growth rather than a high‑growth tech story.

Balance Sheet

Balance Sheet The balance sheet is a clear strength. Assets have grown gradually, while shareholder equity represents the majority of the capital base, signaling a conservative financial structure. Debt levels are modest relative to the size of the company, which limits financial risk and gives management room to invest or weather downturns. Cash holdings are healthy and have been kept at a comfortable level, even as the company invests heavily in networks and data centers. This combination points to a strong, low‑leverage balance sheet that can support ongoing infrastructure and technology upgrades.

Cash Flow

Cash Flow Cash generation from operations has been consistently strong and stable, which is what you want to see from a large telecom. Free cash flow has improved meaningfully over the period, helped by both solid operating cash inflows and a gradual normalization of capital spending after a very heavy investment phase earlier on. Capital expenditure is still significant, as expected for a telecom, but has become more manageable and better aligned with cash generation. This pattern suggests the company has moved from a peak build‑out phase toward reaping more cash benefits from past investments, giving it more flexibility for dividends, debt management, or future strategic projects.

Competitive Edge

Competitive Edge Chunghwa Telecom holds a dominant position in Taiwan, backed by the widest and most reliable network, strong brand recognition, and deep relationships with government and enterprises. Its legacy as the former state monopoly gives it extensive infrastructure that rivals find hard to match, especially in less profitable rural areas. Economies of scale and bargaining power with suppliers help keep costs lower and support competitive pricing. Its role as a key partner in national digital and smart city projects further entrenches its position and makes it difficult for smaller players to displace it in high‑value segments. The main risk is that regulatory pressures and competition could limit pricing power, but the moat remains substantial.

Innovation and R&D

Innovation and R&D For a traditional telecom, Chunghwa Telecom is leaning meaningfully into innovation. It is pushing hard on 5G leadership, including customized private networks for industries and smart city deployments, which can deepen customer relationships and support higher‑value services. The company is upgrading its data centers to be AI‑ready and expanding cloud, cybersecurity, and ICT integration, moving it up the value chain from simple connectivity to full digital solutions. Management is also signaling a long‑term focus on AI, next‑generation networks beyond 5G, and regional partnerships, which could open new growth avenues if execution is strong. The key question is how effectively these investments translate into higher‑margin revenue over time, given the capital intensity and fast‑moving technology landscape.

Summary

Overall, Chunghwa Telecom looks like a financially conservative, steady telecom incumbent that is using its strong base business to fund a push into higher‑value digital and AI‑related services. The core telecom operations provide stable revenues, solid margins, and reliable cash flows, while the balance sheet carries relatively low financial risk. The company’s entrenched market position in Taiwan and deep enterprise and government ties create a durable competitive advantage, but also expose it to regulatory and policy shifts. The main opportunity lies in scaling its 5G, cloud, ICT, and AI offerings to drive incremental growth and improved mix over time. Key uncertainties include the pace of adoption of new services, future capital spending requirements for next‑generation networks, and how aggressively competitors and global tech players move into overlapping areas.

NEWS

November 6, 2025 · 2:37 AM UTC

Chunghwa Telecom Reports Un-Audited Consolidated Operating Results for the Third Quarter of 2025

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