Sincere Security Corp. Income Statement

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

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	3,545	3,320	2,983	2,644	2,217	2,078
Revenue Growth (YoY)	10.21%	11.29%	12.82%	19.27%	6.67%	10.78%
Cost of Revenue	3,364	3,163	2,858	2,520	2,042	1,885
Gross Profit	180.22	156.46	125.27	124.17	175.41	193.68
Selling, General & Admin	58.06	56.48	50.7	47.98	49.98	54.84
Amortization of Goodwill & Intangibles	0.42	0.92	1.43	1.34	1.19	0.53
Operating Expenses	61.62	59.52	53.8	51.27	47.14	59.86
Operating Income	118.6	96.94	71.47	72.9	128.27	133.82
Interest Expense	-1.52	-2.6	-2.12	-2.39	-2.02	-1.35
Interest & Investment Income	2.3	2.68	2.88	2.35	2.51	2.94
Other Non Operating Income (Expenses)	15.82	26.74	22.03	11.07	8.38	2.33
EBT Excluding Unusual Items	135.21	123.76	94.26	83.92	137.14	137.74
Gain (Loss) on Sale of Assets	0.43	0.43	0.04	-	-	-
Pretax Income	135.64	124.19	94.3	83.92	137.14	137.74
Income Tax Expense	27.3	25.34	19.32	17.16	28.27	28.29
Net Income	108.35	98.85	74.98	66.76	108.87	109.45
Net Income to Common	108.35	98.85	74.98	66.76	108.87	109.45
Net Income Growth	9.56%	31.83%	12.32%	-38.68%	-0.53%	88.13%
Shares Outstanding (Basic)	23	23	23	22	20	20
Shares Outstanding (Diluted)	23	23	23	22	20	20
Shares Change (YoY)	-0.00%	0.01%	3.65%	8.54%	0.07%	1.33%
EPS (Basic)	4.82	4.39	3.33	3.08	5.44	5.47
EPS (Diluted)	4.81	4.39	3.33	3.07	5.44	5.47
EPS Growth	9.44%	31.83%	8.47%	-43.57%	-0.55%	85.56%
Free Cash Flow	116.17	134.99	72.24	1.38	42.49	90.16
Free Cash Flow Per Share	5.16	5.99	3.21	0.06	2.12	4.51
Dividend Per Share	3.000	3.000	2.600	2.400	4.000	4.000
Dividend Growth	15.38%	15.38%	8.33%	-40.00%	-	66.67%
Gross Margin	5.08%	4.71%	4.20%	4.70%	7.91%	9.32%
Operating Margin	3.35%	2.92%	2.40%	2.76%	5.79%	6.44%
Profit Margin	3.06%	2.98%	2.51%	2.53%	4.91%	5.27%
Free Cash Flow Margin	3.28%	4.07%	2.42%	0.05%	1.92%	4.34%
EBITDA	138.18	115.33	89.75	88.04	143.54	147.74
EBITDA Margin	3.90%	3.47%	3.01%	3.33%	6.48%	7.11%
D&A For EBITDA	19.58	18.38	18.27	15.14	15.28	13.92
EBIT	118.6	96.94	71.47	72.9	128.27	133.82
EBIT Margin	3.35%	2.92%	2.40%	2.76%	5.79%	6.44%
Effective Tax Rate	20.12%	20.41%	20.49%	20.45%	20.61%	20.54%

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