Morn Sun Feed Mill Corp. (TPEX:1240)

Morn Sun Feed Mill Income Statement

Financials in millions TWD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	2,769	2,857	2,910	3,371	3,000	2,277
Revenue Growth (YoY)	-5.08%	-1.83%	-13.66%	12.38%	31.74%	25.20%
Cost of Revenue	2,445	2,532	2,616	3,119	2,745	2,010
Gross Profit	324.61	325.15	294.55	251.94	254.43	266.88
Selling, General & Admin	235.06	237.46	218.32	243.32	230.94	193.95
Research & Development	7.1	6.15	4.07	4.85	5.74	18.7
Operating Expenses	249.94	244.64	220.98	250.82	233.84	208.06
Operating Income	74.67	80.51	73.56	1.13	20.59	58.82
Interest Expense	-6.41	-8.29	-9.57	-7.56	-3.11	-3.54
Interest & Investment Income	13.57	11.65	9.34	8.79	7.83	7.11
Earnings From Equity Investments	62.87	47.61	38.11	-10.7	33.84	37.11
Currency Exchange Gain (Loss)	0.17	-2.67	-1.31	-22.05	4.73	4.06
Other Non Operating Income (Expenses)	4.69	4.13	3.6	3.73	3.78	4.03
EBT Excluding Unusual Items	149.56	132.93	113.73	-26.67	67.66	107.59
Gain (Loss) on Sale of Investments	9.1	-3.63	5.29	-4.82	5.6	3.09
Gain (Loss) on Sale of Assets	3.22	3.16	1.72	-0.32	0.09	1.12
Asset Writedown	74.29	73.12	51.74	25.66	67.39	75.13
Other Unusual Items	-	0	0.01	-	-	-
Pretax Income	236.17	205.59	172.5	-6.15	140.74	186.93
Income Tax Expense	18.82	39.12	36.6	12.81	31.5	40.9
Earnings From Continuing Operations	217.34	166.46	135.89	-18.96	109.24	146.03
Minority Interest in Earnings	5.06	13.14	26.42	24.55	21.94	9.47
Net Income	222.4	179.6	162.31	5.59	131.17	155.49
Net Income to Common	222.4	179.6	162.31	5.59	131.17	155.49
Net Income Growth	20.86%	10.65%	2803.06%	-95.74%	-15.64%	13.99%
Shares Outstanding (Basic)	44	44	44	44	44	44
Shares Outstanding (Diluted)	44	44	44	44	44	44
Shares Change (YoY)	-0.03%	0.09%	0.22%	-0.27%	-0.10%	0.11%
EPS (Basic)	5.03	4.06	3.67	0.13	2.97	3.52
EPS (Diluted)	5.01	4.05	3.65	0.12	2.96	3.50
EPS Growth	20.91%	10.74%	2890.37%	-95.87%	-15.45%	13.93%
Free Cash Flow	215.6	141.63	215.83	-110.12	-7.89	7.17
Free Cash Flow Per Share	4.86	3.19	4.86	-2.49	-0.18	0.16
Dividend Per Share	2.523	2.523	1.958	0.873	1.662	1.583
Dividend Growth	28.86%	28.86%	124.41%	-47.50%	5.00%	3.00%
Gross Margin	11.72%	11.38%	10.12%	7.47%	8.48%	11.72%
Operating Margin	2.70%	2.82%	2.53%	0.03%	0.69%	2.58%
Profit Margin	8.03%	6.29%	5.58%	0.17%	4.37%	6.83%
Free Cash Flow Margin	7.79%	4.96%	7.42%	-3.27%	-0.26%	0.32%
EBITDA	117.29	119.79	106.52	32.38	46.37	73.12
EBITDA Margin	4.23%	4.19%	3.66%	0.96%	1.55%	3.21%
D&A For EBITDA	42.62	39.29	32.96	31.25	25.78	14.29
EBIT	74.67	80.51	73.56	1.13	20.59	58.82
EBIT Margin	2.70%	2.82%	2.53%	0.03%	0.69%	2.58%
Effective Tax Rate	7.97%	19.03%	21.22%	-	22.38%	21.88%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.