Upside case
Bull case
$1680+3775.9%
CHT would need investors to value it at roughly 32x earnings — about 31x more generous than today's 1x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewSellUpdated May 1, 2026
Chunghwa Telecom Co., Ltd. (CHT) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Sell
Covering
4
analysts
1 bullish · 2 bearish · 4 covering CHT
Strong Buy
0
Buy
1
Hold
1
Sell
2
Strong Sell
0
Consensus Target
—
— vs today
Scenario Range
$1120 – $1680
Model bear to bull value window
Coverage
4
Published analyst ratings
Valuation Context
0.8x
Forward P/E · Market cap $33.6B
CHT price targets
Three scenarios for where CHT stock could go
Current
~$43
Confidence
52 / 100
Updated
May 1, 2026
Where we are now
Current · $43
Bear
$1120
Base
$1471
Bull
$1680
Market caseClosest to today
Base case
$1471+3293.6%
At 28x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$1120+2485.3%
The bear case assumes sentiment or fundamentals disappoint enough to push CHT down roughly 2485% from the current price.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Chunghwa Telecom Co., Ltd.
CHT · NYSECommunication ServicesTelecommunications ServicesDecember year-end
Chunghwa Telecom is Taiwan's leading integrated telecommunications provider offering fixed-line, mobile, broadband, and internet services across the country. It generates revenue primarily from mobile communications (~40% of total), domestic fixed communications (~30%), and internet services (~20%), with the remainder from international operations and other segments. The company's key advantage is its dominant market position as Taiwan's incumbent telecom operator with extensive nationwide infrastructure—including the largest fiber network—and strong government ties as a former state-owned enterprise.
Market Cap
$33.6B
Revenue TTM
$236.0B
Net Income TTM
$38.8B
Net Margin
16.4%
CHT Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
50%Exceptional
12 quarters tracked
Revenue Beat Rate
40%Exceptional
vs consensus estimates
Avg EPS Surprise
+0.6%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 3 of 4Q2 2025
EPS
$0.38/$0.39
Revenue
$2.0B/$1.9B
Q3 2025
EPS
$0.43/$0.42
Revenue
$1.9B/$1.9B
Q4 2025
EPS
$0.41/$0.41
Revenue
$1.9B/$2.1B
Q1 2026
EPS
$0.39/$0.38
Revenue
$2.1B/$2.1B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $0.38/$0.39 | -2.7% | $2.0B/$1.9B | +7.3% |
| Q3 2025 | $0.43/$0.42 | +2.6% | $1.9B/$1.9B | +0.8% |
| Q4 2025 | $0.41/$0.41 | +1.1% | $1.9B/$2.1B | -11.1% |
| Q1 2026 | $0.39/$0.38 | +2.7% | $2.1B/$2.1B | -0.9% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$244.0B
+3.4% YoY
FY2
$251.6B
+3.1% YoY
EPS Outlook
FY1
$51.89
+3.6% YoY
FY2
$53.76
+3.6% YoY
Trailing FCF (TTM)$36.8B
FCF Margin: 15.6%
Next Earnings
May 14, 2026
Expected EPS
$0.41
Expected Revenue
$1.8B
CHT beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
CHT Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2022
Total disclosed revenue $216.7B
Product Mix
Latest annual revenue by segment or product family
Segment breakdown not available for this company.
Geographic Mix
Latest annual revenue by reported region
Country of domicile
96.8%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Country of domicile is the largest reported region at 96.8%, with no year-over-year comparison yet.
CHT Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Undervalued
Fair value est. $350 — implies +712.1% from today's price.
Upside to Fair Value
712.1%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
CHT
27.4x
vs
S&P 500
25.2x
+8% premium
vs Communication Services Trailing P/E
CHT
27.4x
vs
Communication Services
15.5x
+76% premium
vs CHT 5Y Avg P/E
Today
27.4x
vs
5Y Average
0.8x
+3205% premium
Forward PE
0.8x
S&P 500
19.1x
-96%
Communication Services
13.1x
-94%
5Y Avg
—
—
Trailing PE
27.4x
S&P 500
25.2x
+8%
Communication Services
15.5x
+76%
5Y Avg
0.8x
+3205%
PEG Ratio
9.06x
S&P 500
1.75x
+419%
Communication Services
0.66x
+1272%
5Y Avg
—
—
EV/EBITDA
12.6x
S&P 500
15.3x
-17%
Communication Services
8.7x
+45%
5Y Avg
0.4x
+3207%
Price/FCF
—
S&P 500
21.3x
—
Communication Services
11.6x
—
5Y Avg
0.8x
—
Price/Sales
4.5x
S&P 500
3.1x
+43%
Communication Services
1.0x
+327%
5Y Avg
0.1x
+3149%
Dividend Yield
—
S&P 500
1.88%
—
Communication Services
3.38%
—
5Y Avg
—
—
| Metric | CHT | S&P 500 | Communication Services | 5Y Avg CHT |
|---|---|---|---|---|
| Forward PE | 0.8x | 19.1x-96% | 13.1x-94% | — |
| Trailing PE | 27.4x | 25.2x | 15.5x+76% | 0.8x+3205% |
| PEG Ratio | 9.06x | 1.75x+419% | 0.66x+1272% | — |
| EV/EBITDA | 12.6x | 15.3x-17% | 8.7x+45% | 0.4x+3207% |
| Price/FCF | — | 21.3x | 11.6x | 0.8x |
| Price/Sales | 4.5x | 3.1x+43% | 1.0x+327% | 0.1x+3149% |
| Dividend Yield | — | 1.88% | 3.38% | — |
CHT trades above S&P 500 benchmarks on 2 of 5 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolCHT Financial Health
Verdict
Strong
CHT earns 20.6% operating margin on regulated earnings. Utilities carry higher leverage than industrials as a structural feature of the business model.
Regulated Operations
Revenue, regulated margins, and earnings
Revenue (TTM)
Trailing-twelve-month sales base
$236.0B
Revenue Growth
TTM vs prior year
+3.3%
Operating Margin
Operating income divided by revenue
20.6%
Net Margin
Net income divided by revenue
16.4%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$50.10
Operating Margin
Operating income over revenue — primary regulated earnings signal
20.6%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
9.2%
ROA
Return on assets, trailing twelve months
—
Cash & Equivalents
Liquid assets on the balance sheet
—
Net Debt
Total debt minus cash
$0
Debt Serviceability
Net debt as a multiple of annual free cash flow
—
Regulated utilities typically operate at 3–5× net debt/FCF — this is structural, not a risk flag.
ROE
Return on equity, trailing twelve months
9.9%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.0%
Dividend
—
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Current diluted share count
775M
All figures from the trailing twelve months. Utilities operate with structural leverage (3–5× net debt/FCF) due to regulated, predictable cash flows.
Open full ratios pageCHT Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Information Security & Privacy
Chunghwa Telecom, Taiwan's largest integrated telecom provider, faces significant information security and personal data leak risks. Incidents could trigger regulatory sanctions, financial losses, and reputational damage, potentially eroding customer trust and shareholder value.
High Risk
Valuation Overhang
Analysts flag CHT as potentially overvalued, citing a Value Score of D and a relatively high P/E ratio. The dividend yield of 3.88% is not well covered by earnings, raising concerns that the stock may be priced above its intrinsic value.
Medium
Dividend Sustainability
The 3.88% dividend yield is not fully supported by earnings, implying a risk of dividend cuts if earnings decline. Investors should monitor earnings trends to assess long‑term payout viability.
Medium
Climate & Environmental Risk
CHT is exposed to climate‑change pressures, including energy conservation mandates and carbon‑reduction targets. The company also contends with natural disaster risks such as earthquakes and tsunamis that could disrupt infrastructure.
Medium
Tech Competition & Innovation
The telecom sector undergoes rapid technological shifts; CHT invests in AI, IoT, and cloud computing to stay competitive. Failure to keep pace could erode market share and increase operational costs.
Medium
Regulatory Impact
As a major telecom provider, CHT operates under stringent regulations that can affect profitability and operational flexibility. Regulatory changes or enforcement actions could impose additional compliance costs or operational constraints.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why CHT Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
Value Opportunity at $42.69
Chunghwa Telecom’s current share price of approximately $42.69 presents a buying opportunity for investors seeking value in the telecommunications sector. The stock’s price relative to its earnings and dividend yield suggests potential upside if the company’s fundamentals hold.
Solid Market Position & Stability
With a market capitalization of about $33.11 billion, Chunghwa Telecom commands a strong position in the market, providing a stable foundation for continued growth and resilience against competitive pressures.
Strong Profitability Metrics
The company reported a net margin of 16.37%, indicating efficient management and healthy profitability. This margin supports sustainable earnings and potential for dividend growth.
Expanding ICT Services
Chunghwa Telecom is broadening its portfolio beyond traditional telecom into data center, cloud, and cybersecurity services, all of which have shown double‑digit year‑over‑year revenue growth. This diversification positions the firm to capture higher‑margin tech services demand.
Commitment to Shareholder Returns
A dividend yield of 3.76% reflects Chunghwa Telecom’s commitment to returning value to shareholders. Coupled with a 10‑year total return of +26.1% (from $1261 value), the dividend policy underscores long‑term shareholder value.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
CHT Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$43.34
52W Range Position
52%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$39.28
+10.3% from the low
52-Week High
$47.03
-7.8% from the high
1 Month
+2.27%
3 Month
+4.26%
YTD
+3.8%
1 Year
-1.0%
3Y CAGR
+1.7%
5Y CAGR
+1.3%
10Y CAGR
+2.4%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
CHT vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
0.8x
vs 0.0x median
+6289% above peer median
Revenue Growth
+3.4%
vs +3.6% median
-6% below peer median
Net Margin
16.4%
vs 10.4% median
+59% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
CHT CHT Chunghwa Telecom Co., Ltd. | $33.6B | 0.8x | +3.4% | 16.4% | Sell | — |
SKM SKM SK Telecom Co.,Ltd | $14.2B | 0.0x | +2.1% | 5.7% | Hold | — |
KT KT KT Corporation | $10.2B | 0.0x | +5.3% | 6.1% | Buy | — |
PHI PHI PLDT Inc. | $4.4B | 0.1x | +3.6% | 13.7% | Hold | — |
VIV VIV Telefônica Brasil S.A. | $25.5B | 2.9x | +6.7% | 10.4% | Hold | +3.6% |
TLK TLK Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk | $16.9B | 0.0x | +1.3% | 14.7% | Hold | — |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
CHT Dividend and Capital Return
CHT does not currently return meaningful capital to shareholders.
Dividend UnknownFCF Unknown
Total Shareholder Yield
0.0%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$1.30
Growth Streak
Consecutive years of dividend increases
4Y
3Y Div CAGR
3.0%
5Y Div CAGR
3.1%
Ex-Dividend Date
—
Payment Cadence
Annual
1 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$0
Estimated Shares Retired
0
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
775M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2025 | $1.30 | +14.5% | 0.0% | 0.0% |
| 2024 | $1.13 | -1.1% | 0.0% | 100.0% |
| 2023 | $1.15 | -3.6% | 0.0% | 100.0% |
| 2022 | $1.19 | -0.9% | 0.0% | 100.0% |
| 2021 | $1.20 | +7.9% | 0.0% | 100.0% |
FAQ
6 questionsCHT Investor Questions
Common questions answered from live analyst data and company financials.
01Is Chunghwa Telecom Co., Ltd. (CHT) stock a buy or sell in 2026?
Chunghwa Telecom Co., Ltd. (CHT) is rated Sell by Wall Street analysts as of 2026. Of 4 analysts covering the stock, 1 rate it Buy or Strong Buy, 1 rate it Hold, and 2 rate it Sell or Strong Sell. The bear case scenario is $1120 and the bull case is $1680.
02Is Chunghwa Telecom Co., Ltd. (CHT) stock overvalued in 2026?
CHT trades at 0.8x times forward earnings. The stock's valuation is broadly in line with the broader market. Based on current multiples versus the peer group, the relative model signals significantly undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
03What are the main risks for Chunghwa Telecom Co., Ltd. (CHT) stock in 2026?
The primary risks for CHT in 2026 are: (1) Information Security & Privacy — Chunghwa Telecom, Taiwan's largest integrated telecom provider, faces significant information security and personal data leak risks. (2) Valuation Overhang — Analysts flag CHT as potentially overvalued, citing a Value Score of D and a relatively high P/E ratio. (3) Dividend Sustainability — The 3. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
04What is Chunghwa Telecom Co., Ltd.'s revenue and earnings forecast?
Analyst consensus estimates CHT will report consensus revenue of $244.0B (+3.4% year-over-year) and EPS of $51.89 (+3.6% year-over-year) for the upcoming fiscal year. The following year, analysts project $251.6B in revenue.
05When does Chunghwa Telecom Co., Ltd. (CHT) report its next earnings?
Chunghwa Telecom Co., Ltd. is expected to report its next earnings on approximately 2026-05-14. Consensus expects EPS of $0.41 and revenue of $1.8B. Over recent quarters, CHT has beaten EPS estimates 50% of the time.
06How much free cash flow does Chunghwa Telecom Co., Ltd. generate?
Chunghwa Telecom Co., Ltd. (CHT) generated $36.8B in free cash flow over the trailing twelve months — a free cash flow margin of 15.6%. CHT returns capital to shareholders through and share repurchases ($0 TTM).