CHTNYSERadiotelephone Communications
CHUNGHWA TELECOM CO LTD
Financials through fiscal 2024, year ended Dec 31, 2024Last filing: 20-F on Apr 15, 2026
$47.63−0.01 (-0.02%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2014 to 2024
Gross margin
36.3%+1.8 pts over 5 years
Operating margin
20.4%+0.8 pts over 5 years
Net margin
16.2%+0.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2024
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.0% | +3.0% | +2.1% | – | |
| Gross profit | +2.4% | +3.4% | +3.1% | – | |
| Operating income | +1.1% | +1.4% | +2.9% | – | |
| Net income | +0.6% | +1.5% | +2.5% | – | |
| EPS, diluted | +0.4% | +1.4% | +2.4% | – | |
| Free cash flow | +15.2% | +8.5% | +0.9% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2015 | FY2019 | FY2024 | Trend |
|---|---|---|---|---|
| Return on equity | – | 8.8% | 9.7% | |
| Return on assets | – | 7.0% | 7.0% | |
| Current ratio | – | 1.42 | 1.38 | |
| Debt to equity | – | 0.00 | 0.03 | |
| Net debt to EBITDA | – | -0.42× | -0.29× | |
| Interest coverage | 1526.1× | 390.8× | 138.3× | |
| Inventory turnover | – | 8.4× | 12.4× | |
| Capex to revenue | 10.8% | 11.6% | 12.5% | |
| Diluted shares | 7.78B | 7.76B | 7.78B |
Where the cash went
Fiscal 2020 to 2024, five years combined
Chunghwa Telecom generated 379.07B TWD from operations and spent 325.20B TWD on capital expenditure, dividends and share buybacks. 46% of that went back into the business.
Generated
379.07B TWD
Used
325.20B TWD
Capital expenditure149.88B TWD46%Dividends175.32B TWD54%Share buybacks0 TWD0%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin16.2%
×Asset turnover0.43×
×Equity multiplier1.39×
=Return on equity, FY20249.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | 16.2% | 0.43× | 1.39× | 9.7% |
| FY2023 | 16.6% | 0.43× | 1.38× | 9.7% |
| FY2022 | 16.8% | 0.42× | 1.37× | 9.6% |
| FY2021 | 16.9% | 0.41× | 1.35× | 9.5% |
| FY2020 | 16.1% | 0.42× | 1.31× | 8.9% |
| FY2019 | 15.9% | 0.44× | 1.26× | 8.8% |
| FY2018 | 17.4% | 0.47× | 1.25× | 10.2% |
| FY2017 | 17.1% | 0.51× | 1.24× | 10.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2024 against fiscal 2023
5of 9 tests passed in fiscal 2024. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero37.19B TWD
- Cash generatingOperating cash flow above zero79.24B TWD
- Return on assets improvedROA up on the prior year7.1% → 7.1%
- Earnings backed by cashOperating cash flow above net income79.24B TWD vs 37.19B TWD
- Less leverageLong-term debt to assets fell0.0% → 0.3%
- Better liquidityCurrent ratio rose1.52 → 1.38
- No dilutionShare count did not rise7.76B → 7.78B
- Gross margin improvedGross margin up on the prior year36.48% → 36.26%
- More efficientAsset turnover rose0.43 → 0.44