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M

Morn Sun Feed Mill 1240.TWO · TWD

Consumer Staples · Taipei Exchange · 🇹🇼 Taiwan

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53.60

+0.37%

Close of 9 Nov 2026, in TWD

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At a glance

Figures in TWD, from our data supplier.

FY2025

Revenue

TWD 2.74bn

FY2016FY2025

Net income

TWD 214.9m

FY2016FY2025

Free cash flow

TWD 196.5m

FY2016FY2025

Shareholders' equity

TWD 1.50bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTWD 2.74bnTWD 2.86bnTWD 2.91bnTWD 3.37bnTWD 3.00bnTWD 2.28bnTWD 1.82bnTWD 1.49bnTWD 1.41bnTWD 1.27bn
Gross profitTWD 323.4mTWD 325.1mTWD 294.5mTWD 251.9mTWD 254.4mTWD 266.9mTWD 262.5mTWD 165.1mTWD 194.3mTWD 159.8m
Research and developmentTWD 6.7mTWD 6.1mTWD 4.1mTWD 4.8mTWD 5.7mTWD 18.7mTWD 14.3mTWD 6.1mTWD 9.4mTWD 4.4m
Operating incomeTWD 83.6m—TWD 180.7mTWD 4.1mTWD 141.0mTWD 185.9mTWD 101.1mTWD 67.6mTWD 64.3mTWD 44.8m
Net incomeTWD 214.9mTWD 179.6mTWD 162.3mTWD 5.6mTWD 131.2mTWD 155.5mTWD 136.4mTWD 99.9mTWD 139.1mTWD 144.1m
Diluted earnings per share5.454.564.110.143.574.233.462.533.534.78

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTWD 2.22bnTWD 2.14bnTWD 2.18bnTWD 2.21bnTWD 2.13bnTWD 1.89bnTWD 1.71bnTWD 1.62bnTWD 1.59bnTWD 1.37bn
Cash and short-term investments——TWD 413.6mTWD 374.1mTWD 372.8mTWD 344.1m———TWD 351.0m
Total liabilitiesTWD 658.9mTWD 647.3mTWD 768.6mTWD 896.5mTWD 751.8mTWD 633.4mTWD 681.3mTWD 448.0mTWD 668.2mTWD 622.2m
DebtTWD 11.3mTWD 35.0mTWD 411.0mTWD 541.0mTWD 378.0mTWD 338.3mTWD 80.0m——TWD 442.1m
Shareholders' equityTWD 1.50bnTWD 1.45bnTWD 1.35bnTWD 1.23bnTWD 1.27bnTWD 1.13bnTWD 1.01bnTWD 1.17bnTWD 919.7mTWD 747.3m
Shares outstanding39m39m39m39m37m37m39m39m39m30m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTWD 219.9mTWD 169.8mTWD 237.0m−TWD 93.0mTWD 47.8mTWD 155.1mTWD 64.1mTWD 58.5mTWD 86.1mTWD 82.3m
Capital spending−TWD 23.4m−TWD 28.2m−TWD 24.8m−TWD 17.3m−TWD 55.7m−TWD 147.9m−TWD 87.7m−TWD 6.8m−TWD 8.3m−TWD 8.6m
Free cash flowTWD 196.5mTWD 141.6mTWD 212.2m−TWD 110.2m−TWD 7.9mTWD 7.2m−TWD 23.6mTWD 51.7mTWD 77.8mTWD 73.8m
Dividends paid−TWD 111.6m−TWD 86.6m−TWD 38.6m−TWD 73.5m−TWD 70.0m−TWD 68.0m−TWD 49.5m−TWD 75.1m−TWD 75.1m—

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTWD 750.7mTWD 690.0mTWD 698.5mTWD 698.2mTWD 663.5mTWD 683.7mTWD 724.0mTWD 700.9m
Gross profitTWD 90.0mTWD 83.0mTWD 80.0mTWD 72.8mTWD 83.7mTWD 87.0mTWD 81.1mTWD 79.5m
Net incomeTWD 86.8mTWD 39.4mTWD 45.0mTWD 66.7mTWD 55.6mTWD 47.7mTWD 52.5mTWD 47.8m
Diluted earnings per share2.201.001.141.691.411.211.331.21
Cash from operationsTWD 14.0mTWD 11.0mTWD 61.0mTWD 67.0mTWD 19.0mTWD 71.0mTWD 79.0m−TWD 6.0m
Capital spending−TWD 5.0m−TWD 5.0m−TWD 4.0m−TWD 6.0m−TWD 3.0m−TWD 8.0m−TWD 4.0m−TWD 2.0m
Free cash flowTWD 9.0mTWD 6.0mTWD 57.0mTWD 61.0mTWD 16.0mTWD 63.0mTWD 75.0m−TWD 8.0m
Total assetsTWD 2.32bnTWD 2.28bnTWD 2.22bnTWD 2.13bnTWD 2.09bnTWD 2.15bnTWD 2.14bnTWD 2.63bn
DebtTWD 8.9mTWD 10.1mTWD 11.3mTWD 29.3mTWD 32.2mTWD 35.0mTWD 35.0mTWD 35.0m
Shareholders' equityTWD 1.50bnTWD 1.56bnTWD 1.50bnTWD 1.45bnTWD 1.40bnTWD 1.46bnTWD 1.45bnTWD 1.85bn

Financial ratios

Data as of 26 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin11.8%11.4%10.1%7.5%8.5%11.7%
Operating margin8.5%7.5%6.2%0.1%4.7%8.2%
Net margin7.8%6.3%5.6%0.2%4.4%6.8%
Return on equity14.3%12.4%12.0%0.5%10.3%13.8%
Return on assets9.7%8.4%7.4%0.3%6.2%8.2%
Free cash flow yield—9.4%12.4%-3.6%5.2%15.3%
Revenue growth-4.0%-1.8%-13.7%12.4%31.7%25.2%
Earnings growth19.7%10.7%2803.1%-95.7%-15.6%14.0%
Current ratio1.95x2.04x1.70x1.54x1.72x1.69x
Debt to equity0.01x0.02x0.30x0.43x0.28x0.28x
Equity ratio67.6%67.5%62.0%55.6%59.5%59.5%
Interest coverage33.69x25.81x18.89x0.54x45.33x52.57x
R&D as a share of sales0.2%0.2%0.1%0.1%0.2%0.8%
Buybacks as a share of market value—0.0%-0.2%-7.1%0.0%—

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-6.6%3.8%8.1%
Operating income172.5%-14.8%11.0%
Net income237.5%6.7%20.2%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin11.6%10.1%10.0%10.7%
Net margin7.0%4.7%4.9%5.7%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Price to earnings10.410.29.8257.511.49.711.210.29.6
Price to sales0.80.60.60.40.50.70.80.70.9

Dividends and splits

Per share, in the currency the company pays

Paid for 4 years. Last went ex-dividend on 28 Aug 2025.

FY2025FY2024FY2023FY2022
Paid in the year2.5711.9580.8481.583
  • 1070-for-1000 split · 28 Aug 2025
  • 1070-for-1000 split · 27 Aug 2025
  • 1050-for-1000 split · 28 Aug 2024
  • 1020-for-1000 split · 30 Aug 2023
  • 1050-for-1000 split · 23 Aug 2022
  • 1050-for-1000 split · 31 Aug 2021

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.