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Taiwan's #3 mobile carrier, providing wireless, broadband and enterprise ICT services.
Taiwan's #3 mobile carrier, providing wireless, broadband and enterprise ICT services.
Earns monthly service fees from mobile and broadband subscribers, with handset sales adding revenue but little profit, and enterprise cloud and ICT projects growing alongside. It belongs to the Far Eastern Group.
In one line: A smaller Taiwanese T-Mobile.
Moat: narrow (scale, installed base, regulatory licence). Spectrum licences and network scale create switching costs, but three carriers compete hard on price.
Headquarters: Taipei, Taiwan · Founded: 1997
Size Far Eastone Telecommunications (4904.TW) is a Taiwan Communication Services company (Wireless Telecommunications) with a market value of $12.2B, the 48th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$112.00 on 6 Nov 2026.
Performance Over six months the shares gained 16.9%, against -4.7% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 9.9% over the last twelve months (peer median +6.5%); the operating margin is 15.2% (peer median 15.6%).
Valuation It trades at 26.1× forward earnings against a peer median of 14.3× (4th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.0 points above its cost of capital (5.0% WACC).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$116B | NT$110B | NT$105B | NT$93.7B | NT$89.2B |
| Revenue growth | — | +5% | +12% | +5% | — |
| Gross profit | NT$33.2B | NT$31.3B | NT$30.0B | NT$26.6B | NT$25.1B |
| EBITDA | NT$39.8B | NT$36.9B | NT$35.3B | NT$31.3B | NT$30.2B |
| Net income | NT$14.8B | NT$13.7B | NT$12.8B | NT$11.2B | NT$9.61B |
| Free cash flow | NT$27.2B | NT$26.2B | NT$26.0B | NT$18.7B | NT$17.9B |
| Capital expenditure | NT$7.01B | NT$7.01B | NT$7.12B | NT$8.15B | NT$10.2B |
| Total debt | NT$43.5B | NT$53.6B | NT$60.2B | NT$72.1B | NT$66.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Far Eastone Telecommunications 4904.TW | $12.2B | +17% | +10% | 15% | 26.1× | 3.8% |
| Chunghwa Telecom 2412.TW | $38.4B | +20% | -10% | 20% | 30.1× | 7.4% |
| Taiwan Mobile 3045.TW | $12.2B | +20% | +2% | 11% | 24.5× | 2.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 4904.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.2% | -1.2% | 6th highest of 21 |
| 6-month return | +16.9% | -4.7% | 2nd highest of 21 |
| Distance from 52-week high | -4.3% | -23.6% | 3rd highest of 21 |
| Revenue growth (TTM) | +9.9% | +6.5% | 8th highest of 21 |
| Operating margin | 15.2% | 15.6% | 9th lowest of 21 |
| Forward P/E | 26.1× | 14.3× | 4th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 3.8% | 2.6% | 9th most demanding of 20 |
| Growth delivered (Del g) | +6.8% | +3.3% | 7th highest of 19 |
| Hurdle (Req g minus delivered) | -3.0 pp | -3.2 pp | 9th most demanding of 19 |
| ROIC minus cost of capital | +6.0 pp | +1.3 pp | 6th highest of 21 |
| EV / EBITDA | 11.1× | 7.1× | 3rd most expensive of 19 |
| Net debt / EBITDA | 0.8× | 2.0× | 5th least indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Far Eastone Telecommunications 4904.TW | Taiwan | $12.2B | +17% | +10% | 15% | 26.1× | 3.8% | +6.8% |
| SKTelecom 017670.KS | South Korea | $12.1B | -18% | +2% | 10% | 12.3× | -9.8% | +1.2% |
| Airtel Africa AAF.L | United Kingdom | $13.5B | -33% | +27% | 34% | 14.6× | -1.2% | +10.0% |
| Telecom Italia TIT.MI | Italy | $13.6B | -20% | 0% | 11% | 31.8× | 5.3% | -2.8% |
| Globalstar GSAT | United States | $10.9B | +3% | +8% | 5% | n/a | n/a | n/a |
| Millicom International Cellular TIGO | United States | $13.9B | +3% | +29% | 23% | 22.9× | 3.6% | +6.9% |
| TELUS T.TO | Canada | $14.5B | -27% | -1% | 15% | 17.5× | 2.6% | +5.8% |
| PT Telkom Indonesia (Persero) Tbk Sponsored ADR TLK | United States | $10.3B | -35% | -3% | 24% | 9.5× | -16.1% | -1.1% |
| Vodafone Idea IDEA.NS | India | $14.6B | +14% | +3% | -6% | n/a | 29.6% | +1.3% |
| Bharti Hexacom BHARTIHEXA.NS | India | $8.84B | +10% | +8% | 29% | 36.6× | 33.4% | +15.2% |
| TIM S.A. Sponsored ADR TIMB | United States | $8.61B | -24% | +14% | 25% | 9.4× | -12.4% | +7.3% |
| Telefonica Brasil SA Sponsored ADR VIV | United States | $18.2B | -27% | +16% | 16% | 10.7× | -3.6% | +5.0% |
| Rogers Communications RCI-B.TO | Canada | $18.3B | -6% | +8% | 23% | 10.7× | 1.1% | +9.3% |
| Elisa ELISA.HE | Finland | $6.11B | -17% | 0% | 20% | 14.3× | -2.7% | +3.6% |
| TPG Telecom TPG.AX | Australia | $5.58B | +1% | -5% | 8% | 34.8× | 8.1% | +3.0% |
| Orange Polska OPL.WA | Poland | $5.53B | +7% | +5% | 9% | 19.4× | 13.2% | +2.7% |
| VEON Ltd. Sponsored ADR VEON | United States | $4.95B | +57% | +15% | 23% | 11.2× | -4.8% | -9.1% |
| Vodafone Group Public VOD.L | United Kingdom | $36.3B | +4% | +11% | 10% | 12.1× | 4.2% | -2.2% |
| Turkcell Iletisim Hizmetleri A.S. Sponsored ADR TKC | United States | $4.02B | -31% | +16% | 15% | 8.0× | -12.0% | +8.1% |
| Sunrise Communications SUNN.SW | Switzerland | $3.92B | +2% | -1% | 3% | n/a | 21.2% | n/a |
| Telstra TLS.AX | Australia | $39.0B | -4% | -1% | 16% | 24.2× | 5.6% | +1.2% |