Chunghwa Telecom Co., Ltd.
Financial ratios & Valuation

Forward Multiples (2025 – 2026)

20252026
Price/Earnings ratio
0.920.90
Price/Sales ratio
0.160.15
Earnings per Share (EPS)
$49.36$50.42

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
18.7217.9319.8221.4023.9026.1325.1625.4723.86250.70400.0123.90
Price/Sales ratio
3.193.313.453.653.934.774.054.336.3441.515.073.93
Price/Book Value ratio
1.982.082.172.282.252.272.222.392.2724.3625.822.25
Price/Cash Flow ratio
10.1310.0512.2311.7212.7812.2111.2912.1211.42124.27128.3112.78
Price/Free Cash Flow ratio
18.9418.7819.3025.4022.7318.06251.8123.1020.40212.6020.9418.06
Price/Earnings Growth ratio
-6.841.65-3.04-7.36-2.75-3.4513.303.9210.95-2.794.29-2.75
Dividend Yield
4.85%4.90%5.35%4.60%4.38%4.05%3.89%3.68%4.11%0.39%0.11%4.05%
Profitability Indicator Ratios
Gross Profit Margin
34.52%36.09%35.84%35.46%35.24%35.28%33.99%35.48%0.00%36.48%18.89%35.28%
Operating Profit Margin
19.77%21.72%20.91%20.52%20.25%21.38%20.40%21.45%34.24%20.76%19.76%21.38%
Pretax Profit Margin
20.54%22.41%21.47%21.09%20.87%22.45%20.63%21.99%34.54%21.06%24.30%20.87%
Net Profit Margin
17.04%18.46%17.42%17.08%16.47%18.28%16.09%17.00%26.59%16.55%12.69%18.28%
Effective Tax Rate
15.87%15.97%16.50%16.57%18.94%18.56%18.97%19.25%19.54%19.03%7.17%18.56%
Return on Assets
8.64%9.44%8.96%8.61%7.59%7.16%6.59%6.94%6.94%7.05%4.73%7.16%
Return On Equity
10.59%11.60%10.98%10.65%9.42%8.71%8.84%9.38%9.53%9.71%6.38%8.71%
Return on Capital Employed
11.55%12.76%12.42%11.94%10.75%9.63%9.73%10.01%10.23%10.16%8.50%9.63%
Liquidity Ratios
Current Ratio
1.111.211.271.241.451.420.86N/AN/AN/A1.471.45
Quick Ratio
1.001.121.201.141.200.920.941.191.321.321.251.20
Cash ratio
0.390.510.510.480.450.420.420.610.760.490.460.45
Days of Sales Outstanding
42.3742.4649.2551.3259.2362.8249.5551.4882.0353.1960.4359.23
Days of Inventory outstanding
24.7826.2522.7527.0945.8846.6338.7938.2639.2335.4134.9246.63
Operating Cycle
67.1568.7272.0078.41105.11109.4688.3489.74121.2788.6095.35109.46
Days of Payables Outstanding
45.5540.1646.5348.2153.5248.1541.5248.7943.8637.0629.2848.15
Cash Conversion Cycle
21.6028.5525.4730.1951.5861.3046.8140.9577.4051.5366.0751.58
Debt Ratios
Debt Ratio
0.000.000.000.000.000.000.050.050.060.060.060.00
Debt Equity Ratio
0.000.000.000.000.000.000.070.070.080.080.080.00
Long-term Debt to Capitalization
0.000.000.000.000.000.000.050.070.070.070.050.00
Total Debt to Capitalization
0.000.000.000.000.000.000.070.070.070.070.070.00
Interest Coverage Ratio
960.131.52K2.43K2.12K2.41K392.04197.83N/AN/AN/A111.22392.04
Cash Flow to Debt Ratio
28.9641.0337.3742.4739.0341.502.592.612.312.282.3141.50
Company Equity Multiplier
1.221.221.221.231.241.211.331.351.371.371.361.24
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.310.320.280.310.300.390.350.350.550.330.390.30
Free Cash Flow / Operating Cash Flow Ratio
0.530.530.630.460.560.670.040.520.550.580.610.56
Cash Flow Coverage Ratio
28.9641.0337.3742.4739.0341.502.592.612.312.282.3141.50
Short Term Coverage Ratio
126.56646.82470.661.01K663.66779.388.591.15K105.1934.128.15779.38
Dividend Payout Ratio
90.90%88.00%106.2%98.61%104.79%105.96%98.09%93.78%98.31%98.69%0.00%105.96%