Far EasTone Telecommunications Co Ltd (4904) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Far EasTone Telecommunications Co Ltd stock TWD 58.48, price TWD 113, that is 48.0% below the price, quality 63 out of 100. Rating: strongly overvalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 56.88 TWD – 115.00 TWD · fair‑value band 40.54 TWD – 76.41 TWD · the 112.50 TWD price screens above the 58.48 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Far EasTone Telecommunications Co., Ltd. provides mobile telecommunications services in Taiwan and internationally. The company offers postpaid products, such as wireless postpaid and broadband, and data booster; prepaid products; and SMS and eSIM products.
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It also provides mobile communication and lifestyle services, including mobile communication voice, internet access, and related services, as well as mobile phones and accessories; and cable network, enterprise customer services, communications integration services, and related services.
The company was incorporated in 1997 and is based in Taipei, Taiwan.
Stock analysis
Far EasTone Telecommunications Co Ltd (4904) currently trades at 112.50 TWD, while our model-based Fair Value estimate is 58.48 TWD, 48% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 75.29 TWD per share, and 0 of the 25 models we run sit above the 112.50 TWD price.
Bear case: the Earnings-Based group reads lowest at 27.80 TWD, and 25 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: 40.54 TWD (bear) to 76.41 TWD (bull), the price of 112.50 TWD sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Communication Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Far EasTone Telecommunications Co Ltd reported revenue of 110B TWD in FY2025 versus 85.3B TWD in FY2021, a compound +6.6%/yr. Reported net income was 13.7B TWD in FY2025, compounding +10.8%/yr from FY2021.
Key figures
Market cap 418B TWD (≈ $12.7B) Large · P/E ratio 27.4 · P/S ratio 3.66 · EPS (TTM) 4.11 TWD · Dividend yield 3.4% · Net margin 13.0% · Return on equity 17.0% · Return on assets (EBIT) 7.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 32% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 50% fair-value upside, at −48%, 4904 screens richer than that median.
Fair Value models
Bear40.54 TWDFair Value 58.48 TWDBull76.41 TWD
Price 112.50 TWD · Downside -48.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.2548 TWD per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.83/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.8%
Start year 2020 (pandemic). Over 10 years: +1.3% a year
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.2%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+10.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.1%
Dividend (yield on the price)3.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.7.1% vs 0.7%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.14% → 15%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +5.4% a year for the price and +5.2% for the forecasts.
Compare Far EasTone Telecommunications Co Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Telecom Services · 235 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside−48.0% · Bottom 25%
Profitability
Return on equity (12 months)17.0% · Above median
Return on assets7.5% · Top 25%
Net margin (12 months)13.0% · Above median
Operating margin (12 months)17.5% · Above median
Growth and dividend
Revenue growth (quarter YoY)9.8% · Above median
Dividend yield (12 months)3.4% · Below median
Balance sheet
Debt / equity0.41× · Above median
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/E (12 months)27.4× · Priciest 25%
P/B4.53× · Priciest 25%
P/S (12 months)3.66× · Priciest 25%
Price / free cash flow16.0× · Pricier than median
EV/EBITDA13.2× · Priciest 25%
PEG1.02× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 42
FUTURE (revenue growth)49· sector 19
PAST (return on equity)68· sector 33
HEALTH (low debt)79· sector 83
DIVIDEND (yield)68· sector 72
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Far EasTone Telecommunications Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/4904
Frequently asked questions
Is Far EasTone Telecommunications Co Ltd (4904) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 58.48 TWD versus a price of 112.50 TWD, about 48% lower (overvalued).
What is the fair value of 4904?
Our model-based fair value for Far EasTone Telecommunications Co Ltd is 58.48 TWD (as of Nov 3, 2026), built from audited fundamentals. The current price: 112.50 TWD.
What is the quality score of 4904?
Far EasTone Telecommunications Co Ltd has a Quality Score of 63/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Far EasTone Telecommunications Co Ltd (4904)?
Our model-based price target is the fair value of 58.48 TWD (as of Nov 3, 2026) from 25 valuation models. Cautious scenario 40.54 TWD, optimistic scenario 76.41 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Far EasTone Telecommunications Co Ltd stock forecast for 2026?
Our models put fair value at 58.48 TWD, about 48% lower versus a price of 112.50 TWD (overvalued). Cautious scenario 40.54 TWD, optimistic scenario 76.41 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Far EasTone Telecommunications Co Ltd (4904)?
Far EasTone Telecommunications Co Ltd reported trailing-twelve-month revenue of about 114B TWD (latest available figure, as of Nov 3, 2026).
Does Far EasTone Telecommunications Co Ltd pay a dividend?
Far EasTone Telecommunications Co Ltd currently shows a dividend yield of 3.39% relative to its recent price (as of Nov 3, 2026).
What growth is priced into Far EasTone Telecommunications Co Ltd (4904)?
For today's price to be fair in a discounted-cash-flow model, Far EasTone Telecommunications Co Ltd would have to grow free cash flow by +7.1 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.8 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of 4904 use?
Our models discount Far EasTone Telecommunications Co Ltd at 9.8 %: a base by market capitalisation (large), country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Far EasTone Telecommunications Co Ltd that is +7.1 % per year a year over ten years, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Far EasTone Telecommunications Co Ltd (4904) delivered so far?
Over the past 5 years revenue at Far EasTone Telecommunications Co Ltd grew +6.8 % a year. The price currently implies +7.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Far EasTone Telecommunications Co Ltd (4904) growing?
The median revenue growth in the sector is +3.7 % a year. That is the yardstick for the growth priced into Far EasTone Telecommunications Co Ltd (+7.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Far EasTone Telecommunications Co Ltd (4904)?
The free-cash-flow yield on the price is 6.27 %: that much free cash flow Far EasTone Telecommunications Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Far EasTone Telecommunications Co Ltd (4904)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Far EasTone Telecommunications Co Ltd it is 58.48 TWD per share (as of Nov 3, 2026), against a price of 112.50 TWD. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Far EasTone Telecommunications Co Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 4904 trades above its calculated fair value: price 112.50 TWD, fair value 58.48 TWD, a gap of about −48% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 4904?
No. The price is what the market pays today (112.50 TWD); the fair value is what the company's own numbers justify (58.48 TWD). For Far EasTone Telecommunications Co Ltd the two are 54.02 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Far EasTone Telecommunications Co Ltd worth?
The market values Far EasTone Telecommunications Co Ltd at about 418B TWD (market capitalisation, as of Nov 3, 2026). Per share that is 112.50 TWD; our models calculate a fair value of 58.48 TWD per share.
What do the bullish and bearish scenarios say about 4904?
Our models span a range for Far EasTone Telecommunications Co Ltd: cautious scenario 40.54 TWD, base 58.48 TWD, optimistic 76.41 TWD per share (as of Nov 3, 2026, price 112.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4904?
Far EasTone Telecommunications Co Ltd trades at a price-to-earnings ratio of 27.4 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 58.48 TWD is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 23.3. Other multiples: PEG 1.0, P/B 4.5, P/S 3.7, EV/EBITDA 13.2.
What is the PEG ratio of 4904?
The PEG ratio of Far EasTone Telecommunications Co Ltd is 1.02 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Far EasTone Telecommunications Co Ltd (4904)?
Balance-sheet figures for Far EasTone Telecommunications Co Ltd (as of Nov 3, 2026): return on equity 17.0%, debt of 0.41 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 4904 from its 52-week high?
Far EasTone Telecommunications Co Ltd trades at 112.50 TWD, about 2% below its 52-week high of 115.00 TWD and 32% above the low of 85.40 TWD (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 58.48 TWD is for.
Which stocks are comparable to Far EasTone Telecommunications Co Ltd?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Far EasTone Telecommunications Co Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price 112.50 TWD, calculated fair value 58.48 TWD (−48%), Quality Score 63/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 4904 calculated?
We run Far EasTone Telecommunications Co Ltd through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 58.48 TWD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Far EasTone Telecommunications Co Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Far EasTone Telecommunications Co Ltd (4904)?
The closing price on Nov 5, 2026 was 112.50 TWD. Our model-based fair value is 58.48 TWD, about 48% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Far EasTone Telecommunications Co Ltd right now?
The price sits above even our optimistic bull case (76.41 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (40.54 TWD to 76.41 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Far EasTone Telecommunications Co Ltd (4904) come from?
Earnings per share at Far EasTone Telecommunications Co Ltd grew +0.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.0 %, EBIT margin −0.7 %, tax rate −0.1 %, residual (interest, one-offs) +1.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Far EasTone Telecommunications Co Ltd
How large is the market capitalisation of Far EasTone Telecommunications Co Ltd (4904)?
The market capitalisation of Far EasTone Telecommunications Co Ltd is 418B TWD (≈ $12.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Far EasTone Telecommunications Co Ltd (4904)?
The price-to-sales ratio of Far EasTone Telecommunications Co Ltd is 3.66 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Far EasTone Telecommunications Co Ltd (4904)?
Earnings per share at Far EasTone Telecommunications Co Ltd are 4.11 TWD (price ÷ EPS = P/E 27.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Far EasTone Telecommunications Co Ltd (4904)?
The dividend yield of Far EasTone Telecommunications Co Ltd is 3.4% (payout 92.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Far EasTone Telecommunications Co Ltd (4904)?
The net margin of Far EasTone Telecommunications Co Ltd is 13.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Far EasTone Telecommunications Co Ltd (4904)?
The return on equity (ROE) of Far EasTone Telecommunications Co Ltd is 17.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Far EasTone Telecommunications Co Ltd (4904)?
On an EBIT basis the return on assets of Far EasTone Telecommunications Co Ltd is 7.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Far EasTone Telecommunications Co Ltd (4904)?
The operating margin of Far EasTone Telecommunications Co Ltd is 17.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Far EasTone Telecommunications Co Ltd (4904)?
Revenue at Far EasTone Telecommunications Co Ltd is growing +9.8% versus a year earlier (3y avg +7.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Far EasTone Telecommunications Co Ltd (4904)?
Earnings per share at Far EasTone Telecommunications Co Ltd are growing +18.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Far EasTone Telecommunications Co Ltd (4904) carry?
The net debt of Far EasTone Telecommunications Co Ltd is 47.9B TWD (fiscal year 2025, ≈ 1.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 3, 2026