Morn Sun Feed Mill Corp (1240) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Morn Sun Feed Mill Corp TWD 43.39, price TWD 55.20, upside -21.4%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 39.98 TWD – 67.47 TWD · fair‑value band 34.52 TWD – 56.32 TWD · the 55.20 TWD price screens above the 43.39 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Morn Sun Feed Mill Corp. manufactures, processes, trades in, and transports feeds and raw materials in China. It operates through four segments: Feeds, Egg Product, Breeding, and Other. The company offers feed products for duck egg, laying hen, duck and goose, and chicken; and piglets, breeding sows, and meat pigs.
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Morn Sun Feed Mill Corp. manufactures, processes, trades in, and transports feeds and raw materials in China. It operates through four segments: Feeds, Egg Product, Breeding, and Other. The company offers feed products for duck egg, laying hen, duck and goose, and chicken; and piglets, breeding sows, and meat pigs. It is also involved in the trading of rice, flour, soybeans, barley, wheat, and other grains. The company was formerly known as Morn Sun Feed Ltd. and changed its name to Morn Sun Feed Mill Corp. in December 2016. Morn Sun Feed Mill Corp. was founded in 1958 and is headquartered in Taipei, Taiwan.
Stock analysis
Morn Sun Feed Mill Corp (1240) currently trades at 55.20 TWD, while our model-based Fair Value estimate is 43.39 TWD, implying the stock looks roughly 27.2% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 78.71 TWD per share, and 8 of the 24 models we run sit above the 55.20 TWD price.
Bear case: the Earnings-Based group reads lowest at 11.77 TWD, and 16 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 34.52 TWD (bear) to 56.32 TWD (bull), the price of 55.20 TWD sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Consumer Defensive sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Morn Sun Feed Mill Corp reported revenue of 2.7B TWD in FY2025 versus 3.0B TWD in FY2021, a compound −2.2%/yr. Reported net income was 215M TWD in FY2025, compounding +13.1%/yr from FY2021.
Key figures
Market cap 2.4B TWD (≈ $76.9M) · P/E ratio 10.3 · P/S ratio 0.81 · EPS (TTM) 5.36 TWD · Dividend yield 5.4% · Net margin 7.8% · Return on equity 12.8% · Return on assets (EBIT) 4.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 10% fair-value upside, at −21%, 1240 screens richer than that median.
Fair Value models
Bear 34.52 TWDFair Value 43.39 TWDBull 56.32 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (1.73 TWD per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−4.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−6.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.8%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.6%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+10.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.5%
Dividend (yield on the price)5.4%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 3%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+4.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +2.9% a year for the price.
Compare Morn Sun Feed Mill Corp with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Farm Products · 296 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside−21% · Below median
Profitability
Return on equity (TTM)13% · Top 25%
Return on assets2% · Below median
Net margin (TTM)8% · Above median
Operating margin (TTM)4% · Below median
Growth and dividend
Revenue growth1% · Below median
Dividend yield (TTM)5.4% · Top 25%
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Farm Products median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Morn Sun Feed Mill Corp Fair Value". https://www.fairvalue-calculator.com/stock/1240
Frequently asked questions
Is Morn Sun Feed Mill Corp (1240) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 43.39 TWD versus a price of 55.20 TWD, about −21% upside (overvalued).
What is the fair value of 1240?
Our model-based fair value for Morn Sun Feed Mill Corp is 43.39 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 55.20 TWD.
What is the quality score of 1240?
Morn Sun Feed Mill Corp has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Morn Sun Feed Mill Corp (1240)?
Our model-based price target is the fair value of 43.39 TWD (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 34.52 TWD, optimistic scenario 56.32 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Morn Sun Feed Mill Corp stock forecast for 2026?
Our models put fair value at 43.39 TWD, about −21% upside versus a price of 55.20 TWD (overvalued). Cautious scenario 34.52 TWD, optimistic scenario 56.32 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Morn Sun Feed Mill Corp (1240)?
Morn Sun Feed Mill Corp reported trailing-twelve-month revenue of about 2.8B TWD (latest available figure, as of Sep 24, 2026).
Does Morn Sun Feed Mill Corp pay a dividend?
Morn Sun Feed Mill Corp currently shows a dividend yield of about 5.43% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Morn Sun Feed Mill Corp (1240)?
For today's price to be fair in a discounted-cash-flow model, Morn Sun Feed Mill Corp would have to grow free cash flow by +4.5 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 1240 use?
Our models discount Morn Sun Feed Mill Corp at 11.8 %: a base by market capitalisation (micro), damped by beta 0.07, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Morn Sun Feed Mill Corp that is +4.5 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Morn Sun Feed Mill Corp (1240) delivered so far?
Over the past 5 years revenue at Morn Sun Feed Mill Corp grew +3.8 % a year. The price currently implies +4.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Morn Sun Feed Mill Corp (1240) growing?
The median revenue growth in the sector is +2.9 % a year. That is the yardstick for the growth priced into Morn Sun Feed Mill Corp (+4.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Morn Sun Feed Mill Corp (1240)?
The free-cash-flow yield on the price is 8.05 %: that much free cash flow Morn Sun Feed Mill Corp produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Morn Sun Feed Mill Corp (1240)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Morn Sun Feed Mill Corp it is 43.39 TWD per share (as of Sep 24, 2026), against a price of 55.20 TWD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Morn Sun Feed Mill Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 1240 trades above its calculated fair value: price 55.20 TWD, fair value 43.39 TWD, a gap of about −21% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 1240?
No. The price is what the market pays today (55.20 TWD); the fair value is what the company's own numbers justify (43.39 TWD). For Morn Sun Feed Mill Corp the two are 11.81 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Morn Sun Feed Mill Corp worth?
The market values Morn Sun Feed Mill Corp at about 2.4B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 55.20 TWD; our models calculate a fair value of 43.39 TWD per share.
What do the bullish and bearish scenarios say about 1240?
Our models span a range for Morn Sun Feed Mill Corp: cautious scenario 34.52 TWD, base 43.39 TWD, optimistic 56.32 TWD per share (as of Sep 24, 2026, price 55.20 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 1240?
Morn Sun Feed Mill Corp trades at a price-to-earnings ratio of 10.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 43.39 TWD is built from several models across several years. Other multiples: P/B 1.6, P/S 0.9, EV/EBITDA 20.4.
How solid is the balance sheet of Morn Sun Feed Mill Corp (1240)?
Balance-sheet figures for Morn Sun Feed Mill Corp (as of Sep 24, 2026): return on equity 12.8%, debt of 0.01 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 1240 from its 52-week high?
Morn Sun Feed Mill Corp trades at 55.20 TWD, about 12% below its 52-week high of 62.50 TWD and 3% above the low of 53.60 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 43.39 TWD is for.
Which stocks are comparable to Morn Sun Feed Mill Corp?
From the same area (Consumer Defensive) we also value Archer-Daniels-Midland Company, Muyuan Foods Group, Bunge Global SA, Tyson Foods, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Morn Sun Feed Mill Corp stock attractive at the current price?
The data as of Sep 24, 2026: price 55.20 TWD, calculated fair value 43.39 TWD (−21%), Quality Score 62/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 1240 calculated?
We run Morn Sun Feed Mill Corp through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 43.39 TWD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Morn Sun Feed Mill Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Morn Sun Feed Mill Corp (1240)?
The closing price on Sep 24, 2026 was 55.20 TWD. Our model-based fair value is 43.39 TWD, about −21% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Morn Sun Feed Mill Corp right now?
Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Morn Sun Feed Mill Corp
How large is the market capitalisation of Morn Sun Feed Mill Corp (1240)?
The market capitalisation of Morn Sun Feed Mill Corp is 2.4B TWD (≈ $76.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Morn Sun Feed Mill Corp (1240)?
The price-to-sales ratio of Morn Sun Feed Mill Corp is 0.81 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Morn Sun Feed Mill Corp (1240)?
Earnings per share at Morn Sun Feed Mill Corp are 5.36 TWD (price ÷ EPS = P/E 10.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Morn Sun Feed Mill Corp (1240)?
The dividend yield of Morn Sun Feed Mill Corp is 5.4% (payout 56.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Morn Sun Feed Mill Corp (1240)?
The net margin of Morn Sun Feed Mill Corp is 7.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Morn Sun Feed Mill Corp (1240)?
The return on equity (ROE) of Morn Sun Feed Mill Corp is 12.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Morn Sun Feed Mill Corp (1240)?
On an EBIT basis the return on assets of Morn Sun Feed Mill Corp is 4.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Morn Sun Feed Mill Corp (1240)?
The operating margin of Morn Sun Feed Mill Corp is 3.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Morn Sun Feed Mill Corp (1240)?
Revenue at Morn Sun Feed Mill Corp is growing +0.9% versus a year earlier (3y avg −6.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Morn Sun Feed Mill Corp (1240)?
Earnings per share at Morn Sun Feed Mill Corp are growing −16.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Morn Sun Feed Mill Corp (1240) carry?
The net debt of Morn Sun Feed Mill Corp is 156M TWD (fiscal year 2025, ≈ 0.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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