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Taiwan Mobile Co Ltd (3045) Fair Value & Analysis

Consumer Cyclical · TW · Market cap 335B TWD (≈ $10.6B) · ISIN TW0003045001

What is Taiwan Mobile Co Ltd really worth?

TM Taiwan Mobile Co Ltd 3045 · TW
Price118.00 TWD
Fair Value68.83 TWD
Upside−41.7%
Quality48/100

Below-average quality, and trading another 71% above our fair value of 68.83 TWD.

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Strengths

Moderate debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +8.4 %/yr)
!Thin margins · 7.5% net margin
!Mixed vs. peers (6/15)
!Moderate moat 51/100
!Evidence only medium, so the estimate is less certain
!Weak on future: 17 out of 100

For context

·4.07% dividend yield
Evidence: Medium Range 51.62 TWD – 87.91 TWD

Fair value as of: Sep 3, 2026

From 26 valuation models · updated 2 days ago

Share price +6.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (87.91 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

118.00 TWD 75.86 TWD Fair Value 68.83 TWD Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.

How to read this chart

60‑month range 75.86 TWD – 118.00 TWD · fair‑value band 51.62 TWD – 87.91 TWD · the 118.00 TWD price screens above the 68.83 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 3, 2026.

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Analysis

Taiwan Mobile Co Ltd (3045) currently trades at 118.00 TWD, while our model-based Fair Value estimate is 68.83 TWD, implying the stock looks roughly 71.4% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of 108.35 TWD per share, and 6 of the 26 models we run sit above the 118.00 TWD price. Bear case: the Asset-Based group reads lowest at 19.04 TWD, and 20 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Taiwan Mobile Co Ltd generated revenue of 200B TWD at a net margin of 7.5%. Revenue grew 3.3% year over year. It earns a return on equity of 16.7%. Net debt stands at 87.8B TWD. Fundamentals as of Sep 3, 2026

Our scenario range runs from 51.62 TWD (bear case) to 87.91 TWD (bull case); at 118.00 TWD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 13% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −11% fair-value upside, at −42%, 3045 screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 0.0272 TWD per share, which is 0.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF 84.16 TWD 141.10 TWD 230.65 TWD 78
Growth DCF 86.66 TWD 138.16 TWD 214.74 TWD 77
Owner Earnings 85.94 TWD 143.88 TWD 235.00 TWD 75
All 26 models by family
DCF Models
FCF DCF 84.16 TWD 141.10 TWD 230.65 TWD 78
Owner Earnings 85.94 TWD 143.88 TWD 235.00 TWD 75
5Y Revenue Exit 54.83 TWD 90.61 TWD 135.08 TWD 72
5Y EBITDA Exit 92.90 TWD 160.84 TWD 239.01 TWD 74
5Y P/E Exit 63.07 TWD 105.82 TWD 149.63 TWD 70
10Y Revenue Exit 62.35 TWD 97.63 TWD 142.77 TWD 66
10Y EBITDA Exit 88.93 TWD 147.14 TWD 222.90 TWD 67
10Y P/E Exit 69.59 TWD 108.35 TWD 153.99 TWD 64
Earnings-Based
Graham-Dodd 32.39 TWD 93.71 TWD 123.69 TWD 65
Lynch FV 19.37 TWD 27.68 TWD 35.98 TWD 61
PEG = 1.0 19.37 TWD 27.68 TWD 35.98 TWD 57
EPV 36.44 TWD 45.94 TWD 54.39 TWD 74
Dividend Discount
Gordon GGM 49.06 TWD 107.10 TWD 180.21 TWD 65
DDM Multi-Stage 49.06 TWD 80.13 TWD 111.62 TWD 66
Multiples
P/E Multiple 78.60 TWD 104.80 TWD 131.00 TWD 63
P/S Multiple 60.73 TWD 80.98 TWD 101.22 TWD 58
P/B Multiple 60.73 TWD 80.98 TWD 101.22 TWD 55
EV/EBIT 62.01 TWD 88.49 TWD 114.97 TWD 65
EV/EBITDA 112.00 TWD 155.14 TWD 198.29 TWD 67
EV/Revenue 42.81 TWD 68.63 TWD 94.45 TWD 53
Asset-Based
NCAV (Graham) 14.21 TWD 19.04 TWD 28.42 TWD 54
Growth DCF
Growth DCF 86.66 TWD 138.16 TWD 214.74 TWD 77
Rev-Margin DCF 54.83 TWD 91.54 TWD 133.25 TWD 72
Economic Profit
Residual Income 31.76 TWD 38.65 TWD 82.56 TWD 71
ROIC Compounder 38.29 TWD 53.92 TWD 73.66 TWD 71
Growth Earnings
Growth-Adj P/E 63.13 TWD 90.19 TWD 117.24 TWD 67

Widest divergence: DCF Models (108.35 TWD) versus Asset-Based (19.04 TWD). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 22.8 as of Jul 16, 2026
P/S ratio 1.66 P/E × margin
EPS (TTM) 4.84 TWD price ÷ EPS = P/E 22.8
Dividend yield 4.1% payout 99.2%
Net margin 7.3% FY2025
Return on equity 16.7% TTM
More key figures
Profitability
Return on assets (EBIT) 8.3% avg 5y
Operating margin 11.9% TTM
Growth
Revenue (TTM) 200B TWD TTM
Revenue growth (YoY) +3.3% 3y avg +4.9%
EPS growth (YoY) +12.3%
Balance sheet & cash flow
Free cash flow 26.2B TWD FY2025
Net debt 87.8B TWD FY2025 · ≈ 3.4 yrs of FCF

Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 50 · Market factors (momentum, volatility) 72

Profitability 48
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 75
Distance to the 52-week high (market factor)
Net Issuance 8
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Taiwan Mobile Co., Ltd. provides telecommunications, broadband, retail, digital, and financial services in Taiwan and internationally. It operates through Telecommunications, Retail, Cable Television and Broadband, and Others segments. The company provides 5g, postpaid, prepaid, e-sim, international call, international roaming, and gaming services.

Full company description

Taiwan Mobile Co., Ltd. provides telecommunications, broadband, retail, digital, and financial services in Taiwan and internationally. It operates through Telecommunications, Retail, Cable Television and Broadband, and Others segments. The company provides 5g, postpaid, prepaid, e-sim, international call, international roaming, and gaming services. Taiwan Mobile Co., Ltd. was incorporated in 1997 and is based in Taipei, Taiwan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Taiwan Mobile Co Ltd reported revenue of 199B TWD in FY2025 versus 156B TWD in FY2021, a compound +6.2%/yr. Reported net income was 14.4B TWD in FY2025, compounding +7.1%/yr from FY2021.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
199B TWD
Latest YoY
−0.3%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.9%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.4%
Avg. revenue growth/yr (23Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.5%
Value creation/yr (5Y, in TWD) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+5.3% (1.2 + 4.1)
Revenue +6.2%/yr
FY21 156B TWD
FY22 172B TWD
FY23 183B TWD
FY24 199B TWD
FY25 199B TWD
Net income +7.1%/yr
FY21 11.0B TWD
FY22 11.0B TWD
FY23 12.3B TWD
FY24 13.8B TWD
FY25 14.4B TWD
Character of growth · EPS growth decomposed (2014-2025) −2.8 % p.a.
Revenue per share +4.5 %

of which total revenue +6.0 % · buybacks/dilution −1.4 %

EBIT margin −5.8 %
Tax rate −0.7 %
Residual (interest, one-offs) −0.5 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

3045 screens 71% overvalued. Compare with Alimentation Couche-Tard Inc →

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Cite: Fair Value Calculator (2026). "Taiwan Mobile Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3045

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Specialty Retail · 219 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 48 · Below median
Fair Value upside −42% · Below median
Return on equity (TTM) 17% · Top 25%
Return on assets 6% · Above median
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 12% · Top 25%
Revenue growth 3% · Below median
Dividend yield (TTM) 4.1% · Above median
Debt / equity 0.71× · Higher than 75% of peers

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/E (TTM) 22.8× · Pricier than median
P/B 3.89× · Pricier than 75% of peers
P/S (TTM) 1.67× · Pricier than 75% of peers
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 10.0× · Pricier than median
PEG 1.38× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 30
FUTURE17 · sector 25
PAST67 · sector 27
HEALTH64 · sector 96
DIVIDEND81 · sector 56

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Retail stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).

Stock Price Fair Value vs Fair Value
Alimentation Couche-Tard Inc ATD C$89.93 C$104.32 +16%
Casey's General Stores, Inc CASY $755.47 $398.90 −47%
Williams-Sonoma, Inc WSM $235.09 $162.63 −31%
Ulta Beauty, Inc ULTA $537.10 $475.40 −11%
DICK'S Sporting Goods, Inc DKS $202.66 $181.10 −11%
Best Buy Co BBY $82.44 $108.04 +31%
China Tourism Group 601888 ¥54.97 ¥40.40 −27%
Tractor Supply Company TSCO $34.72 $35.52 +2%
Five Below, Inc FIVE $259.41 $117.29 −55%
Murphy USA Inc MUSA $574.12 $423.35 −26%

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Frequently asked questions

Is Taiwan Mobile Co Ltd (3045) overvalued or undervalued?
As of Sep 3, 2026, our model estimates a fair value of 68.83 TWD versus a price of 118.00 TWD, about −42% upside (overvalued).
What is the fair value of 3045?
Our model-based fair value for Taiwan Mobile Co Ltd is 68.83 TWD (as of Sep 3, 2026), built from audited fundamentals. The current price: 118.00 TWD.
What is the quality score of 3045?
Taiwan Mobile Co Ltd has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Taiwan Mobile Co Ltd (3045)?
Taiwan Mobile Co Ltd reported trailing-twelve-month revenue of about 200B TWD (latest available figure, as of Sep 3, 2026).
What is the net profit margin of 3045?
The net profit margin of Taiwan Mobile Co Ltd is about 7.5%, meaning it keeps roughly 7.5% of revenue as net income. Based on the latest reported figures.
Does Taiwan Mobile Co Ltd pay a dividend?
Taiwan Mobile Co Ltd currently shows a dividend yield of about 4.07% relative to its recent price (as of Sep 3, 2026).
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