Far EasTone Telecommunications (4904) Q4 2025 earnings summary

Executive summary

• Achieved record-high quarterly revenue of NT$32.68 billion in Q4 2025, with full-year revenue at NT$110.35 billion, up 5.5% YoY, and net income at NT$13.87 billion, a 7.1% increase.

• Mobile business remains the largest segment, with 5G postpaid penetration reaching 47.5% and robust growth from enterprise channels and digital/ICT services.

• Proposed a record-high dividend per share for 2025 at NT$3.81, a 7% increase, with a 100% payout ratio, pending shareholder approval.

• The audit opinion was unqualified, confirming fair presentation of financials under IFRS.

• Achieved top rankings in sustainability, governance, and innovation, and expanded through M&A and digital transformation.

Financial highlights

• Q4 2025 revenue: NT$32.68 billion (+12.1% YoY); FY2025 revenue: NT$110.35 billion (+5.5% YoY); net income: NT$13.73–13.87 billion (+6.9–7.1% YoY); EPS: NT$3.81 (+6.9% YoY).

• EBITDA for FY2025: NT$38.08 billion (+4.9% YoY); operating income: NT$17.35 billion, up from NT$15.50 billion.

• Free cash flow at NT$25.91 billion; net debt to EBITDA ratio improved to 0.9–0.95x.

• CapEx for 2025 was NT$701 million–7 billion, below budget due to cost efficiencies and deferred spending.

• Cash flow from operations was NT$32.86 billion; total assets at NT$182.12 billion, equity at NT$93.67 billion.

Outlook and guidance

• 2026 revenue guidance: NT$117.48 billion (+6.5% YoY); EBITDA: NT$39.83 billion (+4.6% YoY); net income: NT$14.17 billion (+3.2% YoY); EPS: NT$3.93.

• 2026 CapEx forecast: NT$9.6 billion, up NT$1.3 billion due to network upgrades and new subsidiaries.

• Board approved up to NT$4.5 billion in new bond issuance and a NT$630 million investment in 5G telemedicine.

• Strategic priorities include maximizing synergies, expanding smart city/health, accelerating AI adoption, and preparing for 5G SA and 6G.