Sincere Security Corp. Income Statement

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

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,627	3,320	2,983	2,644	2,217
Revenue Growth (YoY)	9.25%	11.29%	12.82%	19.27%	6.67%
Cost of Revenue	3,437	3,163	2,858	2,520	2,042
Gross Profit	189.2	156.46	125.27	124.17	175.41
Selling, General & Admin	64.25	56.48	50.7	47.98	49.98
Amortization of Goodwill & Intangibles	-	0.92	1.43	1.34	1.19
Operating Expenses	63.59	59.52	53.8	51.27	47.14
Operating Income	125.61	96.94	71.47	72.9	128.27
Interest Expense	-1.48	-2.6	-2.12	-2.39	-2.02
Interest & Investment Income	2.25	2.68	2.88	2.35	2.51
Other Non Operating Income (Expenses)	4.88	26.74	22.03	11.07	8.38
EBT Excluding Unusual Items	131.26	123.76	94.26	83.92	137.14
Gain (Loss) on Sale of Assets	-	0.43	0.04	-	-
Pretax Income	131.26	124.19	94.3	83.92	137.14
Income Tax Expense	26.53	25.34	19.32	17.16	28.27
Net Income	104.73	98.85	74.98	66.76	108.87
Net Income to Common	104.73	98.85	74.98	66.76	108.87
Net Income Growth	5.95%	31.83%	12.32%	-38.68%	-0.53%
Shares Outstanding (Basic)	23	23	23	22	20
Shares Outstanding (Diluted)	23	23	23	22	20
Shares Change (YoY)	0.01%	0.01%	3.65%	8.54%	0.07%
EPS (Basic)	4.65	4.39	3.33	3.08	5.44
EPS (Diluted)	4.65	4.39	3.33	3.07	5.44
EPS Growth	5.92%	31.83%	8.47%	-43.57%	-0.55%
Free Cash Flow	61.41	134.99	72.24	1.38	42.49
Free Cash Flow Per Share	2.73	5.99	3.21	0.06	2.12
Dividend Per Share	-	3.000	2.600	2.400	4.000
Dividend Growth	-	15.38%	8.33%	-40.00%	-
Gross Margin	5.22%	4.71%	4.20%	4.70%	7.91%
Operating Margin	3.46%	2.92%	2.40%	2.76%	5.79%
Profit Margin	2.89%	2.98%	2.51%	2.53%	4.91%
Free Cash Flow Margin	1.69%	4.07%	2.42%	0.05%	1.92%
EBITDA	148.83	115.33	89.75	88.04	143.54
EBITDA Margin	4.10%	3.47%	3.01%	3.33%	6.48%
D&A For EBITDA	23.22	18.38	18.27	15.14	15.28
EBIT	125.61	96.94	71.47	72.9	128.27
EBIT Margin	3.46%	2.92%	2.40%	2.76%	5.79%
Effective Tax Rate	20.21%	20.41%	20.49%	20.45%	20.61%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.