Morn Sun Feed Mill Corp. (1240) AI Stock Analysis

Morn Sun Feed Mill Corp.

(TPEx:1240)

Select Model

Rating:57Neutral

Price Target:TWD 55.00▲(2.42% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by major revenue and operating-profit weakness and soft technical momentum. Strong capitalization, positive cash flow, low valuation, and a high dividend yield provide meaningful support.

Positive Factors

Conservative LeverageImproving leverage and growing equity provide a durable financial cushion for the business. A conservatively funded balance sheet can reduce financing pressure, preserve flexibility during agricultural cycles, and support continued operations or investment without relying heavily on additional debt.

Negative Factors

Multi-Year Revenue DeclineA prolonged decline in revenue can weaken the company’s scale, limit operating leverage, and make future profit growth more dependent on cost control or margin improvement. Without renewed sales growth, the recent earnings rebound may be difficult to sustain over time.

Morn Sun Feed Mill Corp. (1240) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 2.49B
Dividend Yield: 5.32%
Average Volume (3M): 18.35K
Price to Earnings (P/E): 11.6
Beta (1Y): 0.08
Revenue Growth: 5.31%
EPS Growth: -6.78%
Country: TW
Employees: 98
Sector: General
Sector Strength: 55
Industry: Agricultural Farm Products

Morn Sun Feed Mill Corp. Business Overview & Revenue Model

Company Description

Morn Sun Feed Mill Corp. is a Taiwanese company primarily engaged in the manufacturing and distribution of animal feed within Taiwan. Their product portfolio encompasses a variety of specialized feeds: for poultry, they provide layer feed formulated...

Morn Sun Feed Mill Corp. Financial Statement Overview

Summary

A strong balance sheet with low leverage and improved equity returns is offset by a sharp revenue decline, lower EBIT, and historically uneven cash flow. Positive 2025 operating and free cash flow provide support.

Income Statement

48Neutral

Balance Sheet

84Very Positive

Cash Flow

62Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.84B	2.74B	2.86B	2.91B	3.37B	3.00B
Gross Profit	445.68M	309.65M	325.15M	294.55M	251.94M	254.43M
EBITDA	272.50M	285.22M	210.57M	222.47M	41.44M	177.64M
Net Income	236.35M	214.94M	179.60M	162.31M	5.59M	131.17M
Balance Sheet
Total Assets	2.32B	2.22B	2.14B	2.18B	2.21B	2.13B
Cash, Cash Equivalents and Short-Term Investments	418.40M	431.57M	380.68M	413.57M	374.09M	372.82M
Total Debt	293.54M	338.62M	338.41M	410.95M	541.00M	377.96M
Total Liabilities	753.54M	658.91M	647.26M	768.59M	896.50M	751.77M
Stockholders Equity	1.50B	1.50B	1.45B	1.35B	1.23B	1.27B
Cash Flow
Free Cash Flow	131.91M	196.52M	141.63M	215.68M	-110.25M	-7.89M
Operating Cash Flow	154.27M	219.92M	169.84M	240.47M	-92.96M	47.78M
Investing Cash Flow	-12.44M	-26.04M	-6.09M	-44.44M	-16.14M	-35.41M
Financing Cash Flow	-49.34M	-108.51M	-168.01M	-172.90M	87.82M	-40.31M

Morn Sun Feed Mill Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1240 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1240	57Neutral	TWD 2.55B	11.61	―	5.32%	5.31%	-6.78%
TW:1236	56Neutral	TWD 2.33B	-385.00	―	6.12%	-2.79%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6952	48Neutral	TWD 2.70B	26.95	―	4.99%	54.46%	―
TW:1235	44Neutral	TWD 2.57B	-117.86	―	1.52%	43.28%	34.56%

* General Sector Average

Performance Comparison

TW:1240 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1240	Morn Sun Feed Mill Corp.	53.70	1.77	3.40%
TW:1235	Shin Tai Industry Co. Ltd.	33.00	-13.76	-29.42%
TW:1236	Hunya Foods Co. Ltd.	26.95	3.19	13.43%
TW:6936	Vetnostrum Animal Health Co., Ltd.	31.80	-1.47	-4.41%
TW:6952	Dawushan Farm Technology Co Ltd	40.70	-4.00	-8.95%
TW:7850	Protect Animal Health Incorporation	21.50	-13.65	-38.83%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 10, 2026

Morn Sun Feed Mill Corp. AI Stock Analysis