Chunghwa Telecom Co. (CHT) Cash Flow: Operating & Free Cash Flow

Chunghwa Telecom Co. Cash Flow Statement Analysis

Values in billions TWD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Chunghwa Telecom Co., Ltd. (CHT) - Annual data in billions TWD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	38.92	47.84	47.01	47.20	46.07	42.83	41.87	44.98	48.00
Depreciation & Amortization	41.39	39.66	39.62	40.27	38.40	36.37	35.18	31.87	31.93
Deferred Income Tax	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-10.63	-5.67
Stock Based Compensation	0.01	0.01	0.01	0.02	0.02	0.01	0.00	0.02	0.02
Change in Working Capital	-3.22	-3.67	0.86	-2.85	-1.98	3.19	3.30	-1.63	-3.17
Change in Accounts Receivable	-2.21	-3.69	-1.58	-1.85	-1.49	3.65	4.22	1.35	-1.19
Change in Inventory	-1.14	-0.18	-0.63	-0.02	0.88	3.92	-2.70	-6.78	-1.47
Change in Accounts Payable	-2.13	-1.63	4.98	-1.48	2.47	0.02	-5.15	1.07	0.59
Change in Other Working Capital	2.25	0.50	0.40	-1.51	-3.84	-4.40	6.93	2.73	-1.09
Other Operating Activities	0.40	0.50	0.40	-8.69	-7.65	-7.94	-7.92	1.76	-0.18
Net Cash from Operating Activities	77.50	74.56	79.24	75.95	74.86	74.46	72.43	66.37	70.93
Investing Activities
Capital Expenditures	-27.85	-30.98	-28.99	-31.54	-35.59	-71.12	-24.53	-29.05	-38.18
Acquisitions	1.75	-1.56	-0.78	0.29	-0.32	0.34	-4.16	-0.18	-10.24
Purchases of Investments	-55.94	-45.68	-75.39	-6.10	-17.73	-5.34	-14.88	-10.01	-6.63
Sales/Maturities of Investments	56.40	28.60	70.05	7.74	21.38	6.96	16.68	5.66	7.81
Other Investing Activities	-0.07	-0.46	-0.53	1.00	0.83	-46.70	-0.59	0.96	10.52
Net Cash from Investing Activities	-28.20	-50.17	-35.33	-30.79	-31.17	-68.25	-27.13	-32.61	-36.72
Financing Activities
Debt Repayment	-5.17	-6.61	-5.01	-4.41	-3.73	23.29	-3.74	0.03	-0.07
Common Stock Issued	-0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividends Paid	-39.00	-36.48	-36.91	-35.75	-33.40	-32.78	-34.75	-37.20	-38.34
Other Financing Activities	-4.28	-0.23	-0.33	0.57	2.82	-0.31	-0.45	2.14	1.80
Net Cash from Financing Activities	-48.46	-40.73	-41.52	-34.80	-34.31	-9.80	-38.93	-35.04	-36.61
Summary
Effect of Forex Changes on Cash	-0.02	-0.02	0.04	0.05	-0.01	-0.03	0.04	0.10	0.12
Net Change in Cash	0.83	-16.37	2.44	10.41	9.36	-3.63	6.41	-1.18	-2.28
Cash at Beginning of Period	36.26	50.19	33.82	39.78	30.42	34.05	27.65	28.82	31.10
Cash at End of Period	37.09	33.82	36.26	50.19	39.78	30.42	34.05	27.64	28.82
Free Cash Flow	49.60	43.58	50.25	44.42	39.27	3.34	47.90	37.32	32.75
Supplemental Disclosures
Interest Paid	-	0.33	0.31	0.24	0.19	-	-	-	-
Income Taxes Paid	-	8.94	9.11	8.40	8.16	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Chunghwa Telecom Co. Cash Flow

What is Chunghwa Telecom Co.'s free cash flow?

Chunghwa Telecom Co. generated free cash flow of TWD 49.60B in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of TWD 77.50B minus TWD 27.85B of capital expenditures. That was up 13.8% from TWD 43.58B a year earlier. Free cash flow equaled 21.1% of revenue.

How much does Chunghwa Telecom Co. spend on capital expenditures?

Chunghwa Telecom Co. spent TWD 27.85B on capital expenditures in fiscal 2025, compared with TWD 30.98B a year earlier. That equals 35.9% of operating cash flow.

Does Chunghwa Telecom Co. pay dividends or buy back shares?

Yes. In fiscal 2025 Chunghwa Telecom Co. returned TWD 39.00B in dividends to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition