Chunghwa Telecom Co Ltd (CHT) fair value: what the stock is really worth
As of Oct 14, 2026: fair value of Chunghwa Telecom Co Ltd $55.50, price $46.51, upside +19.3%, quality 72 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 8, 2026.
How to read this chart
60‑month range $29.49 – $46.51 · fair‑value band $40.28 – $69.39 · the $46.51 price screens below the $55.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 8, 2026.
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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.
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Its services primarily include mobile, fixed-line, information and communication technology (ICT), and sales and other services.
The company provides mobile services, including prepaid and postpaid plans; fixed-line services, such as fixed broadband and voice, leased line, video, and satellite services; and fixed broadband services comprising broadband access, data communication, and Wi-Fi services.
It also offers ICT services consisting of cloud, content delivery network, advanced networks defense system, and web application firewall.
In addition, it distributes and sells mobile handsets and wearable devices on its mobile network to customers through its directly owned stores, online store, and third-party retailers, as well as offers interconnection services.
The company was incorporated in 1996 and is headquartered in Taipei City, Taiwan.
Stock analysis
Chunghwa Telecom Co Ltd (CHT) currently trades at $46.51, while our model-based Fair Value estimate is $55.50, implying the stock looks roughly 16.2% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of $488.99 per share, and 22 of the 22 models we run sit above the $46.51 price.
Bear case: the Asset-Based group reads lowest at $333.72, and 0 of the 22 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $40.28 (bear) to $69.39 (bull), the price of $46.51 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 72/100 (solid quality), in the Communication Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Chunghwa Telecom Co Ltd reported revenue of $235B in FY2025 versus $209B in FY2021, a compound +2.9%/yr. Reported net income was $38.7B in FY2025, compounding +2.1%/yr from FY2021.
Key figures
Market cap $34.3B · P/E ratio 29.1 · P/S ratio 4.79 · EPS (TTM) $1.60 · Dividend yield 3.5% · Net margin 16.5% · Return on equity 10.9% · Return on assets (EBIT) 8.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 63 out of 100 (medium confidence).
What moves the price
The share trades at its 52-week high and 14% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 27% fair-value upside, at 19%, CHT screens richer than that median.
Fair Value models
Bear$40.28Fair Value $55.50Bull$69.39
Price $46.51 · Upside +19.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF$663.74$890.82$1,34180
Growth DCF$689.56$911.88$1,31679
Owner Earnings$697.99$937.07$1,41176
All 22 models by family
DCF Models
FCF DCF$663.74$890.82$1,34180
Owner Earnings$697.99$937.07$1,41176
5Y Revenue Exit$588.79$832.60$1,19673
5Y EBITDA Exit$821.91$1,228$1,77975
5Y P/E Exit$702.71$1,026$1,42171
10Y Revenue Exit$596.66$813.85$1,06068
10Y EBITDA Exit$755.35$1,075$1,43969
10Y P/E Exit$682.16$941.52$1,20665
Earnings-Based
Graham-Dodd$339.28$563.96$684.8367
EPV$493.12$572.68$642.3074
Multiples
P/E Multiple$823.25$1,098$1,37263
P/S Multiple$636.15$848.20$1,06058
P/B Multiple$636.15$848.20$1,06055
EV/EBIT$768.47$1,019$1,27066
EV/EBITDA$1,060$1,409$1,75767
EV/Revenue$586.55$831.19$1,07654
Asset-Based
NCAV (Graham)$249.05$333.72$498.0954
Growth DCF
Growth DCF$689.56$911.88$1,31679
Rev-Margin DCF$588.79$844.79$1,17273
Economic Profit
Residual Income$442.45$488.99$587.5671
ROIC Compounder$493.12$582.62$682.6772
Growth Earnings
Growth-Adj P/E$580.33$829.04$1,07867
P/S and P/B multiple show the same value here: both are capped by the same earnings anchor (earnings per share times 17), because margin and return on equity do not support the sector multiple.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.68/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+2.7%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+2.9%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+2.5%
Start year 2020 (pandemic). Over 10 years: +0.1% a year
Revenue growth 17 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+0.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+6.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.0%
Dividend (yield on the price)3.5%
Per share before 2008divided by the spin-off factor 1.21
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.3.0% vs −0.3%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.20% → 21%
News mood ⓘNews mood, the average tone of recent news (82 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Chunghwa Telecom draws strength from stable cash flows and established infrastructure as an incumbent operator, yet limited pricing power, modest innovation and state influence constrain its alignment and differentiation.
Main risk: State ties and insufficiently transparent governance represent the largest business risk, potentially concealing inefficiencies that affect cash-flow stability across telecom and emerging ICT operations.
Chunghwa Telecom continues to report record August revenue driven by double-digit growth in its ICT segment, where AIoT, cloud and cybersecurity contracts have already surpassed the full-year target. The core telecom operations deliver steady cash flows while this diversification into data centers and AI infrastructure adds new momentum. Our models currently see the stock as undervalued. Will the ICT expansion scale profitably alongside the traditional business, or will it dilute focus and margins?
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Peer Groupⓘ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.Telecom Services · 237 stocks
Beats the industry median on 8/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside+19.3% · Above median
Profitability
Return on equity (12 months)10.9% · Above median
Return on assets7.2% · Top 25%
Net margin (12 months)16.1% · Top 25%
Operating margin (12 months)21.6% · Top 25%
Growth and dividend
Revenue growth8.2% · Above median
Dividend yield (12 months)3.5% · Below median
Balance sheet
Debt / equity0.06× · Below median
Valuation Multiplesvs Telecom Services median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Chunghwa Telecom Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/CHT
Frequently asked questions
Is Chunghwa Telecom Co Ltd (CHT) overvalued or undervalued?
As of Oct 8, 2026, our model estimates a fair value of $55.50 versus a price of $46.51, about +19% upside (undervalued).
What is the fair value of CHT?
Our model-based fair value for Chunghwa Telecom Co Ltd is $55.50 (as of Oct 8, 2026), built from audited fundamentals. The current price: $46.51.
What is the quality score of CHT?
Chunghwa Telecom Co Ltd has a Quality Score of 72/100. 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 price target for Chunghwa Telecom Co Ltd (CHT)?
Our model-based price target is the fair value of $55.50 (as of Oct 8, 2026) from 22 valuation models. Cautious scenario $40.28, optimistic scenario $69.39. It is a calculation from audited fundamentals, not an analyst target.
What is the Chunghwa Telecom Co Ltd stock forecast for 2026?
Our models put fair value at $55.50, about +19% upside versus a price of $46.51 (undervalued). Cautious scenario $40.28, optimistic scenario $69.39. The calculation is refreshed regularly with new filings.
What is the revenue of Chunghwa Telecom Co Ltd (CHT)?
Chunghwa Telecom Co Ltd reported trailing-twelve-month revenue of about $245B (latest available figure, as of Oct 8, 2026).
Does Chunghwa Telecom Co Ltd pay a dividend?
Chunghwa Telecom Co Ltd currently shows a dividend yield of about 3.54% relative to its recent price (as of Oct 8, 2026).
What is the intrinsic value of Chunghwa Telecom Co Ltd (CHT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Chunghwa Telecom Co Ltd it is $55.50 per share (as of Oct 8, 2026), against a price of $46.51. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Chunghwa Telecom Co Ltd stock overvalued or undervalued in 2026?
As of Oct 8, 2026, CHT trades below its calculated fair value: price $46.51, fair value $55.50, a gap of about +19% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CHT?
No. The price is what the market pays today ($46.51); the fair value is what the company's own numbers justify ($55.50). For Chunghwa Telecom Co Ltd the two are $8.99 per share apart. That gap is exactly why we show both numbers side by side.
How much is Chunghwa Telecom Co Ltd worth?
The market values Chunghwa Telecom Co Ltd at about $34.3B (market capitalisation, as of Oct 8, 2026). Per share that is $46.51; our models calculate a fair value of $55.50 per share.
What do the bullish and bearish scenarios say about CHT?
Our models span a range for Chunghwa Telecom Co Ltd: cautious scenario $40.28, base $55.50, optimistic $69.39 per share (as of Oct 8, 2026, price $46.51). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CHT?
Chunghwa Telecom Co Ltd trades at a price-to-earnings ratio of 29.1 (as of Oct 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $55.50 is built from several models across several years. Other multiples: PEG 1.7.
What is the PEG ratio of CHT?
The PEG ratio of Chunghwa Telecom Co Ltd is 1.69 (P/E divided by earnings growth, as of Oct 8, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Chunghwa Telecom Co Ltd (CHT)?
Balance-sheet figures for Chunghwa Telecom Co Ltd (as of Oct 8, 2026): return on equity 10.9%, debt of 0.06 per unit of equity. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is CHT from its 52-week high?
Chunghwa Telecom Co Ltd trades at $46.51, at its 52-week high of $46.51 and 14% above the low of $40.74 (as of Oct 14, 2026). Distance from the high says nothing about value: that is what the fair value of $55.50 is for.
Which stocks are comparable to Chunghwa Telecom Co Ltd?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Chunghwa Telecom Co Ltd stock attractive at the current price?
The data as of Oct 8, 2026: price $46.51, calculated fair value $55.50 (+19%), Quality Score 72/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CHT calculated?
We run Chunghwa Telecom Co Ltd through 22 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $55.50, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.7 % above its aggregate fair value. Chunghwa Telecom Co Ltd currently trades 16 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Chunghwa Telecom Co Ltd (CHT)?
The closing price on Oct 14, 2026 was $46.51. Our model-based fair value is $55.50, about +19% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Chunghwa Telecom Co Ltd right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of Chunghwa Telecom Co Ltd (CHT) come from?
Earnings per share at Chunghwa Telecom Co Ltd grew −0.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.0 %, EBIT margin +0.0 %, tax rate −0.5 %, residual (interest, one-offs) −0.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Chunghwa Telecom Co Ltd
How large is the market capitalisation of Chunghwa Telecom Co Ltd (CHT)?
The market capitalisation of Chunghwa Telecom Co Ltd is $34.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Chunghwa Telecom Co Ltd (CHT)?
The price-to-sales ratio of Chunghwa Telecom Co Ltd is 4.79 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Chunghwa Telecom Co Ltd (CHT)?
Earnings per share at Chunghwa Telecom Co Ltd are $1.60 (price ÷ EPS = P/E 29.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Chunghwa Telecom Co Ltd (CHT)?
The dividend yield of Chunghwa Telecom Co Ltd is 3.5% (payout 103%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Chunghwa Telecom Co Ltd (CHT)?
The net margin of Chunghwa Telecom Co Ltd is 16.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Chunghwa Telecom Co Ltd (CHT)?
The return on equity (ROE) of Chunghwa Telecom Co Ltd is 10.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Chunghwa Telecom Co Ltd (CHT)?
On an EBIT basis the return on assets of Chunghwa Telecom Co Ltd is 8.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Chunghwa Telecom Co Ltd (CHT)?
The operating margin of Chunghwa Telecom Co Ltd is 21.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Chunghwa Telecom Co Ltd (CHT)?
Revenue at Chunghwa Telecom Co Ltd is growing +8.2% versus a year earlier (3y avg +2.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Chunghwa Telecom Co Ltd (CHT)?
Earnings per share at Chunghwa Telecom Co Ltd are growing +4.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Chunghwa Telecom Co Ltd (CHT) generate?
The free cash flow of Chunghwa Telecom Co Ltd is $49.6B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Chunghwa Telecom Co Ltd (CHT) carry?
The net debt of Chunghwa Telecom Co Ltd is $929M (fiscal year 2025, ≈ 0.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Oct 8, 2026