Taiwan Mobile Co., Ltd. (3045) AI Stock Analysis

Taiwan Mobile Co., Ltd.

(TWSE:3045)

Select Model

Rating:64Neutral

Price Target:TWD 142.00▲(10.08% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 64 reflects a company with strong cash flow and positive technical momentum, balanced against persistent profitability concerns. The most significant positive factor is the robust cash flow generation and bullish price trend, while the primary risk is the ongoing compression of profit margins. The attractive dividend yield provides some support, but the elevated P/E ratio limits the valuation appeal.

Positive Factors

Revenue GrowthRevenue growth from 2021 through 2025, including a notable 2025 step-up, indicates that Taiwan Mobile is expanding its operating scale and demand base. A larger telecom revenue base can support network investment, spread fixed costs, and reinforce customer and enterprise reach over the next several quarters.

Negative Factors

High LeverageDebt-to-equity above 1.0 leaves Taiwan Mobile less financially flexible than a less leveraged business, even though this structure is typical for telecom operators. Higher leverage can increase exposure to rising rates, refinancing needs, and weaker operating conditions, constraining future capital allocation.

Taiwan Mobile Co., Ltd. (3045) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 390.98B
Dividend Yield: 3.68%
Average Volume (3M): 9.44M
Price to Earnings (P/E): 24.0
Beta (1Y): -0.02
Revenue Growth: 1.68%
EPS Growth: 10.91%
Country: TW
Employees: 9,389
Sector: General
Sector Strength: 55
Industry: Telecommunications Services

Taiwan Mobile Co., Ltd. Business Overview & Revenue Model

Company Description

Taiwan Mobile Co., Ltd. is a major provider of wireless communication services, operating both within Taiwan and on an international scale. Its diverse operations are structured across four principal segments: Telecommunications, Retail, Cable Televi...

Taiwan Mobile Co., Ltd. Financial Statement Overview

Summary

Financial performance is mixed. Cash flow generation is a clear strength, with robust operating cash flow growth and strong free cash flow conversion. The balance sheet shows improving leverage, though debt remains high. The primary concern is persistent margin erosion, with gross and net margins declining, indicating cost or competitive pressures.

Income Statement

65Positive

Balance Sheet

55Neutral

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	202.34B	198.76B	199.37B	183.35B	172.21B	156.11B
Gross Profit	38.36B	38.01B	39.70B	34.76B	33.23B	31.37B
EBITDA	46.17B	45.05B	45.39B	38.16B	35.74B	34.69B
Net Income	16.18B	14.44B	13.82B	12.27B	11.03B	10.99B
Balance Sheet
Total Assets	237.39B	234.66B	241.43B	242.96B	193.07B	190.98B
Cash, Cash Equivalents and Short-Term Investments	12.53B	8.97B	14.53B	14.31B	15.83B	16.34B
Total Debt	87.06B	96.40B	103.67B	107.14B	81.03B	80.51B
Total Liabilities	145.33B	140.11B	147.50B	149.58B	120.22B	117.71B
Stockholders Equity	84.48B	86.14B	85.40B	84.82B	64.47B	65.53B
Cash Flow
Free Cash Flow	30.56B	26.19B	23.87B	19.97B	19.09B	18.99B
Operating Cash Flow	40.19B	37.50B	36.05B	29.06B	29.58B	30.20B
Investing Cash Flow	-12.75B	-11.15B	-14.90B	-7.07B	-11.63B	-9.64B
Financing Cash Flow	-27.55B	-29.73B	-22.45B	-23.67B	-18.41B	-15.93B

Taiwan Mobile Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3045 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3665	67Neutral	TWD 305.35B	29.25	―	0.98%	33.39%	60.44%
TW:3045	64Neutral	TWD 387.16B	24.02	―	3.68%	1.68%	10.91%
TW:6526	63Neutral	TWD 114.91B	38.14	―	1.86%	9.57%	7.98%
TW:3036	62Neutral	TWD 255.18B	7.73	―	4.02%	84.41%	138.07%
TW:6414	61Neutral	TWD 52.49B	13.45	―	4.22%	8.27%	19.95%
TW:6285	59Neutral	TWD 92.58B	16.16	―	2.21%	29.79%	88.44%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:3045 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3045	Taiwan Mobile Co., Ltd.	129.00	25.06	24.11%
TW:3036	WT Microelectronics Co., Ltd.	194.00	48.65	33.47%
TW:3665	BizLink Holding Inc.	1580.00	-11.06	-0.70%
TW:6285	WNC Corporation	194.50	93.21	92.02%
TW:6414	Ennoconn Corp.	326.50	60.47	22.73%
TW:6526	Airoha Technology Corp.	726.00	269.66	59.09%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 09, 2026

Taiwan Mobile Co., Ltd. AI Stock Analysis