Morn Sun Feed Mill Corp
Morn Sun Feed Mill Corp. manufactures, processes, trades in, and transports feeds and raw materials in China. It operates through four segments: Feed, Egg Product, Breeding, and Other. The company offers layer feed for ducks and chicken, breeder feed for goose, and local poultry feed; provides eggs, poultry, and livestock; and engages in livestock reproduction of piglets, sows, and hogs. It is al… Read more
Morn Sun Feed Mill Corp (1240) - Net Assets
Latest net assets as of September 2025: NT$1.50 Billion TWD
Based on the latest financial reports, Morn Sun Feed Mill Corp (1240) has net assets worth NT$1.50 Billion TWD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$2.13 Billion) and total liabilities (NT$631.07 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$1.50 Billion |
| % of Total Assets | 70.33% |
| Annual Growth Rate | 7.18% |
| 5-Year Change | 18.45% |
| 10-Year Change | N/A |
| Growth Volatility | 12.84 |
Morn Sun Feed Mill Corp - Net Assets Trend (2017–2024)
This chart illustrates how Morn Sun Feed Mill Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Morn Sun Feed Mill Corp (2017–2024)
The table below shows the annual net assets of Morn Sun Feed Mill Corp from 2017 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$1.49 Billion | +5.60% |
| 2023-12-31 | NT$1.41 Billion | +7.37% |
| 2022-12-31 | NT$1.32 Billion | -4.54% |
| 2021-12-31 | NT$1.38 Billion | +9.45% |
| 2020-12-31 | NT$1.26 Billion | +22.93% |
| 2019-12-31 | NT$1.03 Billion | -12.14% |
| 2018-12-31 | NT$1.17 Billion | +26.97% |
| 2017-12-31 | NT$919.69 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Morn Sun Feed Mill Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 140.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$600.34 Million | 41.51% |
| Other Components | NT$845.88 Million | 58.49% |
| Total Equity | NT$1.45 Billion | 100.00% |
Morn Sun Feed Mill Corp Competitors by Market Cap
The table below lists competitors of Morn Sun Feed Mill Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Hyundai Hcn
KO:126560
|
$50.33 Million |
|
BYC Co Ltd
KO:001465
|
$50.34 Million |
|
Eastern Michigan Financial Corporation
PINK:EFIN
|
$50.36 Million |
|
Biodesix Inc
NASDAQ:BDSX
|
$50.38 Million |
|
Sunny Pharmtech Inc.
TWO:6676
|
$50.30 Million |
|
Patrangsit Healthcare Group Public Company Limited
BK:PHG
|
$50.29 Million |
|
Bastei Lübbe AG
XETRA:BST
|
$50.28 Million |
|
Sierra Madre Gold and Silver Ltd
PINK:SMDRF
|
$50.27 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Morn Sun Feed Mill Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,353,920,000 to 1,446,222,000, a change of 92,302,000 (6.8%).
- Net income of 179,603,000 contributed positively to equity growth.
- Dividend payments of 86,614,000 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$179.60 Million | +12.42% |
| Dividends Paid | NT$86.61 Million | -5.99% |
| Other Changes | NT$-687.00K | -0.05% |
| Total Change | NT$- | 6.82% |
Book Value vs Market Value Analysis
This analysis compares Morn Sun Feed Mill Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.84x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.19x to 1.84x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | NT$27.47 | NT$60.10 | x |
| 2018-12-31 | NT$31.76 | NT$60.10 | x |
| 2019-12-31 | NT$27.54 | NT$60.10 | x |
| 2020-12-31 | NT$28.51 | NT$60.10 | x |
| 2021-12-31 | NT$32.10 | NT$60.10 | x |
| 2022-12-31 | NT$31.23 | NT$60.10 | x |
| 2023-12-31 | NT$34.28 | NT$60.10 | x |
| 2024-12-31 | NT$32.70 | NT$60.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Morn Sun Feed Mill Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.42%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.29%
- • Asset Turnover: 1.33x
- • Equity Multiplier: 1.48x
- Recent ROE (12.42%) is above the historical average (10.77%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 15.12% | 9.84% | 0.89x | 1.73x | NT$47.11 Million |
| 2018 | 8.56% | 6.71% | 0.92x | 1.38x | NT$-16.84 Million |
| 2019 | 13.47% | 7.50% | 1.07x | 1.69x | NT$35.16 Million |
| 2020 | 13.79% | 6.83% | 1.20x | 1.68x | NT$42.75 Million |
| 2021 | 10.34% | 4.37% | 1.41x | 1.68x | NT$4.32 Million |
| 2022 | 0.45% | 0.17% | 1.52x | 1.80x | NT$-117.45 Million |
| 2023 | 11.99% | 5.58% | 1.33x | 1.61x | NT$26.92 Million |
| 2024 | 12.42% | 6.29% | 1.33x | 1.48x | NT$34.98 Million |
Industry Comparison
This section compares Morn Sun Feed Mill Corp's net assets metrics with peer companies in the Farm Products industry.
Industry Context
- Industry: Farm Products
- Average net assets among peers: $4,045,488,200
- Average return on equity (ROE) among peers: 6.27%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Morn Sun Feed Mill Corp (1240) | NT$1.50 Billion | 15.12% | 0.42x | $50.32 Million |
| Shin Tai Industry Co Ltd (1235) | $866.19 Million | -5.27% | 0.95x | $3.08 Million |
| Flavor Full Foods Inc. (1260) | $2.32 Billion | 1.42% | 0.93x | $22.81 Million |
| Lytone Enterprise, Inc. (1293) | $179.91 Million | 20.35% | 0.69x | $8.11K |
| Taiwan Tea Corp (2913) | $15.79 Billion | -0.11% | 0.59x | $180.09 Million |
| Dawushan Farm Tech Co Ltd (6952) | $1.07 Billion | 14.95% | 0.85x | $20.50 Million |