Morn Sun Feed Mill Corp (1240) - Net Assets
Based on the latest financial reports, Morn Sun Feed Mill Corp (1240) has net assets worth NT$1.50 Billion TWD (≈ $47.13 Million USD) 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 ≈ $67.01 Million USD) and total liabilities (NT$631.07 Million ≈ $19.88 Million USD). 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. Check Morn Sun Feed Mill Corp asset resilience ratio to evaluate the company's liquid asset resilience ratio.
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. Also explore total assets of Morn Sun Feed Mill Corp for the complete picture of this company's asset base.
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. For live valuation and market cap data, see Morn Sun Feed Mill Corp (1240) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$1.49 Billion ≈ $47.07 Million |
+5.60% |
| 2023-12-31 | NT$1.41 Billion ≈ $44.57 Million |
+7.37% |
| 2022-12-31 | NT$1.32 Billion ≈ $41.52 Million |
-4.54% |
| 2021-12-31 | NT$1.38 Billion ≈ $43.49 Million |
+9.45% |
| 2020-12-31 | NT$1.26 Billion ≈ $39.74 Million |
+22.93% |
| 2019-12-31 | NT$1.03 Billion ≈ $32.32 Million |
-12.14% |
| 2018-12-31 | NT$1.17 Billion ≈ $36.79 Million |
+26.97% |
| 2017-12-31 | NT$919.69 Million ≈ $28.98 Million |
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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 |
|---|---|
|
Thai Rung Union Car Public Company Limited
BK:TRU
|
$83.06 Million |
|
Pearson PLC
LSE:PSON
|
$83.06 Million |
|
Polar Capital Technology Trust
LSE:PCT
|
$83.06 Million |
|
Suprema ID Inc
KQ:317770
|
$83.10 Million |
|
Enterprise Group Inc
TO:E
|
$83.04 Million |
|
U-Best Polymer Industry Co Ltd
TWO:4714
|
$83.04 Million |
|
Kapsch Traffic
VI:KTCG
|
$82.94 Million |
|
Orthex Oyj
HE:ORTHEX
|
$82.93 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: 1.82x
- 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 2.17x to 1.82x 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$59.60 | x |
| 2018-12-31 | NT$31.76 | NT$59.60 | x |
| 2019-12-31 | NT$27.54 | NT$59.60 | x |
| 2020-12-31 | NT$28.51 | NT$59.60 | x |
| 2021-12-31 | NT$32.10 | NT$59.60 | x |
| 2022-12-31 | NT$31.23 | NT$59.60 | x |
| 2023-12-31 | NT$34.28 | NT$59.60 | x |
| 2024-12-31 | NT$32.70 | NT$59.60 | 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: $4,817,916,000
- Average return on equity (ROE) among peers: -2.63%
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 | $83.06 Million |
| Shin Tai Industry Co Ltd (1235) | $866.19 Million | -5.27% | 0.95x | $60.44 Million |
| Taiwan Tea Corp (2913) | $8.77 Billion | 0.00% | 2.19x | $280.00 Million |
About 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