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MINISO GROUP HOLDING LTD-ADR (MNSO) Stock Fundamental Analysis

NYSE:MNSO - New York Stock Exchange, Inc. - US66981J1025 - ADR - Currency: USD

18.13  -0.07 (-0.38%)

After market: 18.13 0 (0%)

Fundamental Rating

7

We assign a fundamental rating of 7 out of 10 to MNSO. MNSO was compared to 31 industry peers in the Broadline Retail industry. While MNSO belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. MNSO is growing strongly while it is still valued neutral. This is a good combination! These ratings would make MNSO suitable for growth investing!


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year MNSO was profitable.
The reported net income has been mixed in the past 5 years: MNSO reported negative net income in multiple years.
MNSO had a positive operating cash flow in 4 of the past 5 years.
MNSO Yearly Net Income VS EBIT VS OCF VS FCFMNSO Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2019 2020 2021 2022 2023 2024 0 1B -1B 2B 3B

1.2 Ratios

MNSO has a Return On Assets of 24.44%. This is amongst the best in the industry. MNSO outperforms 100.00% of its industry peers.
MNSO has a better Return On Equity (42.94%) than 96.77% of its industry peers.
MNSO's Return On Invested Capital of 35.52% is amongst the best of the industry. MNSO outperforms 100.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for MNSO is above the industry average of 11.80%.
The 3 year average ROIC (15.21%) for MNSO is below the current ROIC(35.52%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 24.44%
ROE 42.94%
ROIC 35.52%
ROA(3y)11.09%
ROA(5y)3.11%
ROE(3y)18.11%
ROE(5y)N/A
ROIC(3y)15.21%
ROIC(5y)14.47%
MNSO Yearly ROA, ROE, ROICMNSO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 0 50 100 150 200

1.3 Margins

The Profit Margin of MNSO (15.13%) is better than 93.55% of its industry peers.
Looking at the Operating Margin, with a value of 19.39%, MNSO belongs to the top of the industry, outperforming 93.55% of the companies in the same industry.
MNSO's Operating Margin has improved in the last couple of years.
MNSO has a Gross Margin of 44.60%. This is in the better half of the industry: MNSO outperforms 61.29% of its industry peers.
In the last couple of years the Gross Margin of MNSO has grown nicely.
Industry RankSector Rank
OM 19.39%
PM (TTM) 15.13%
GM 44.6%
OM growth 3Y62.12%
OM growth 5Y11.8%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y18.81%
GM growth 5Y10.95%
MNSO Yearly Profit, Operating, Gross MarginsMNSO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2019 2020 2021 2022 2023 2024 0 20 40

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6

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), MNSO is creating value.
Compared to 1 year ago, MNSO has less shares outstanding
Compared to 5 years ago, MNSO has more shares outstanding
Compared to 1 year ago, MNSO has a worse debt to assets ratio.
MNSO Yearly Shares OutstandingMNSO Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
MNSO Yearly Total Debt VS Total AssetsMNSO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

An Altman-Z score of 6.60 indicates that MNSO is not in any danger for bankruptcy at the moment.
With an excellent Altman-Z score value of 6.60, MNSO belongs to the best of the industry, outperforming 90.32% of the companies in the same industry.
A Debt/Equity ratio of 0.18 indicates that MNSO is not too dependend on debt financing.
MNSO has a better Debt to Equity ratio (0.18) than 64.52% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF N/A
Altman-Z 6.6
ROIC/WACC4.28
WACC8.3%
MNSO Yearly LT Debt VS Equity VS FCFMNSO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B 8B 10B

2.3 Liquidity

A Current Ratio of 2.04 indicates that MNSO has no problem at all paying its short term obligations.
MNSO has a better Current ratio (2.04) than 74.19% of its industry peers.
MNSO has a Quick Ratio of 1.55. This is a normal value and indicates that MNSO is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.55, MNSO is in the better half of the industry, outperforming 70.97% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.04
Quick Ratio 1.55
MNSO Yearly Current Assets VS Current LiabilitesMNSO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

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8

3. Growth

3.1 Past

MNSO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 50.00%, which is quite impressive.
Measured over the past years, MNSO shows a very strong growth in Earnings Per Share. The EPS has been growing by 74.26% on average per year.
MNSO shows a strong growth in Revenue. In the last year, the Revenue has grown by 111.55%.
Measured over the past years, MNSO shows a quite strong growth in Revenue. The Revenue has been growing by 12.59% on average per year.
EPS 1Y (TTM)50%
EPS 3Y74.26%
EPS 5YN/A
EPS Q2Q%39.11%
Revenue 1Y (TTM)111.55%
Revenue growth 3Y23.27%
Revenue growth 5Y12.59%
Sales Q2Q%44.91%

3.2 Future

MNSO is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 19.54% yearly.
MNSO is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 19.06% yearly.
EPS Next Y15.65%
EPS Next 2Y19.65%
EPS Next 3Y19.54%
EPS Next 5YN/A
Revenue Next Year22.12%
Revenue Next 2Y20.43%
Revenue Next 3Y19.06%
Revenue Next 5YN/A

3.3 Evolution

Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
MNSO Yearly Revenue VS EstimatesMNSO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 5B 10B 15B 20B 25B
MNSO Yearly EPS VS EstimatesMNSO Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 2027 5 10 15

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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 14.86 indicates a correct valuation of MNSO.
Compared to the rest of the industry, the Price/Earnings ratio of MNSO indicates a somewhat cheap valuation: MNSO is cheaper than 67.74% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of MNSO to the average of the S&P500 Index (28.22), we can say MNSO is valued slightly cheaper.
A Price/Forward Earnings ratio of 12.81 indicates a correct valuation of MNSO.
Based on the Price/Forward Earnings ratio, MNSO is valued a bit cheaper than the industry average as 70.97% of the companies are valued more expensively.
MNSO is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 20.86, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 14.86
Fwd PE 12.81
MNSO Price Earnings VS Forward Price EarningsMNSO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
MNSO Per share dataMNSO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
MNSO has an outstanding profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as MNSO's earnings are expected to grow with 19.54% in the coming years.
PEG (NY)0.95
PEG (5Y)N/A
EPS Next 2Y19.65%
EPS Next 3Y19.54%

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3

5. Dividend

5.1 Amount

MNSO has a Yearly Dividend Yield of 2.23%. Purely for dividend investing, there may be better candidates out there.
In the last 3 months the price of MNSO has falen by -21.14%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
MNSO's Dividend Yield is rather good when compared to the industry average which is at 5.80. MNSO pays more dividend than 80.65% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.44, MNSO has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.23%

5.2 History

MNSO has been paying a dividend for over 5 years, so it has already some track record.
MNSO has decreased its dividend in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years2
Div Non Decr Years2
MNSO Yearly Dividends per shareMNSO Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

DPN/A
EPS Next 2Y19.65%
EPS Next 3Y19.54%
MNSO Yearly Income VS Free CF VS DividendMNSO Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2019 2020 2021 2022 2023 2024 0 1B -1B 2B

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MINISO GROUP HOLDING LTD-ADR

NYSE:MNSO (5/2/2025, 8:10:53 PM)

After market: 18.13 0 (0%)

18.13

-0.07 (-0.38%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustryBroadline Retail
Earnings (Last)03-21 2025-03-21/dmh
Earnings (Next)05-20 2025-05-20/bmo
Inst Owners10.05%
Inst Owner Change-0.11%
Ins Owners62.7%
Ins Owner ChangeN/A
Market Cap5.56B
Analysts84.62
Price Target18.7 (3.14%)
Short Float %6.81%
Short Ratio4.91
Dividend
Industry RankSector Rank
Dividend Yield 2.23%
Yearly Dividend0.17
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years2
Div Non Decr Years2
Ex-Date04-08 2025-04-08 (0.3268)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.94%
Min EPS beat(2)-5.58%
Max EPS beat(2)3.7%
EPS beat(4)2
Avg EPS beat(4)-11.71%
Min EPS beat(4)-56.08%
Max EPS beat(4)11.11%
EPS beat(8)6
Avg EPS beat(8)13.71%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-3.94%
Min Revenue beat(2)-5%
Max Revenue beat(2)-2.87%
Revenue beat(4)0
Avg Revenue beat(4)-2.6%
Min Revenue beat(4)-5%
Max Revenue beat(4)-0.86%
Revenue beat(8)4
Avg Revenue beat(8)3.45%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-19.4%
PT rev (3m)-22.97%
EPS NQ rev (1m)-14.36%
EPS NQ rev (3m)-15.92%
EPS NY rev (1m)1.99%
EPS NY rev (3m)-6.44%
Revenue NQ rev (1m)-2.37%
Revenue NQ rev (3m)-1.4%
Revenue NY rev (1m)-0.41%
Revenue NY rev (3m)0.13%
Valuation
Industry RankSector Rank
PE 14.86
Fwd PE 12.81
P/S 1.38
P/FCF N/A
P/OCF N/A
P/B 3.92
P/tB 3.93
EV/EBITDA N/A
EPS(TTM)1.22
EY6.73%
EPS(NY)1.41
Fwd EY7.8%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS13.12
BVpS4.62
TBVpS4.61
PEG (NY)0.95
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 24.44%
ROE 42.94%
ROCE 45.81%
ROIC 35.52%
ROICexc 77.29%
ROICexgc 77.7%
OM 19.39%
PM (TTM) 15.13%
GM 44.6%
FCFM N/A
ROA(3y)11.09%
ROA(5y)3.11%
ROE(3y)18.11%
ROE(5y)N/A
ROIC(3y)15.21%
ROIC(5y)14.47%
ROICexc(3y)50.75%
ROICexc(5y)N/A
ROICexgc(3y)51.79%
ROICexgc(5y)N/A
ROCE(3y)19.61%
ROCE(5y)18.67%
ROICexcg growth 3YN/A
ROICexcg growth 5Y-56.57%
ROICexc growth 3YN/A
ROICexc growth 5Y-46.7%
OM growth 3Y62.12%
OM growth 5Y11.8%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y18.81%
GM growth 5Y10.95%
F-ScoreN/A
Asset Turnover1.62
Health
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.04
Quick Ratio 1.55
Altman-Z 6.6
F-ScoreN/A
WACC8.3%
ROIC/WACC4.28
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)50%
EPS 3Y74.26%
EPS 5YN/A
EPS Q2Q%39.11%
EPS Next Y15.65%
EPS Next 2Y19.65%
EPS Next 3Y19.54%
EPS Next 5YN/A
Revenue 1Y (TTM)111.55%
Revenue growth 3Y23.27%
Revenue growth 5Y12.59%
Sales Q2Q%44.91%
Revenue Next Year22.12%
Revenue Next 2Y20.43%
Revenue Next 3Y19.06%
Revenue Next 5YN/A
EBIT growth 1Y100.77%
EBIT growth 3Y99.85%
EBIT growth 5Y25.86%
EBIT Next Year34.62%
EBIT Next 3Y24.08%
EBIT Next 5YN/A
FCF growth 1YN/A
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1YN/A
OCF growth 3YN/A
OCF growth 5YN/A