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

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

19.88  -0.93 (-4.47%)

After market: 19.88 0 (0%)

Fundamental Rating

7

Overall MNSO gets a fundamental rating of 7 out of 10. We evaluated MNSO against 32 industry peers in the Broadline Retail industry. MNSO gets an excellent profitability rating and is at the same time showing great financial health properties. MNSO is growing strongly while it is still valued neutral. This is a good combination! These ratings would make MNSO suitable for growth and quality investing!


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

MNSO had positive earnings in the past year.
MNSO had a positive operating cash flow in the past year.
In multiple years MNSO reported negative net income over the last 5 years.
MNSO had a positive operating cash flow in each 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 0 1B -1B 2B

1.2 Ratios

The Return On Assets of MNSO (15.39%) is better than 93.55% of its industry peers.
MNSO has a Return On Equity of 24.94%. This is amongst the best in the industry. MNSO outperforms 80.65% of its industry peers.
With an excellent Return On Invested Capital value of 19.84%, MNSO belongs to the best of the industry, outperforming 90.32% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for MNSO is below the industry average of 11.65%.
The last Return On Invested Capital (19.84%) for MNSO is above the 3 year average (9.40%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 15.39%
ROE 24.94%
ROIC 19.84%
ROA(3y)1.86%
ROA(5y)-0.89%
ROE(3y)2.57%
ROE(5y)N/A
ROIC(3y)9.4%
ROIC(5y)17.46%
MNSO Yearly ROA, ROE, ROICMNSO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 0 50 100 150 200

1.3 Margins

Looking at the Profit Margin, with a value of 15.71%, MNSO belongs to the top of the industry, outperforming 93.55% of the companies in the same industry.
Looking at the Operating Margin, with a value of 19.87%, 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.
With a Gross Margin value of 43.08%, MNSO perfoms like the industry average, outperforming 54.84% of the companies in the same industry.
In the last couple of years the Gross Margin of MNSO has grown nicely.
Industry RankSector Rank
OM 19.87%
PM (TTM) 15.71%
GM 43.08%
OM growth 3Y31.3%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y8.36%
GM growth 5YN/A
MNSO Yearly Profit, Operating, Gross MarginsMNSO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2019 2020 2021 2022 2023 0 10 -10 20 30

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7

2. Health

2.1 Basic Checks

MNSO has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
The number of shares outstanding for MNSO has been increased compared to 1 year ago.
The number of shares outstanding for MNSO has been reduced compared to 5 years ago.
The debt/assets ratio for MNSO is higher compared to a year ago.
MNSO Yearly Shares OutstandingMNSO Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 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 2B 4B 6B 8B 10B

2.2 Solvency

MNSO has an Altman-Z score of 7.17. This indicates that MNSO is financially healthy and has little risk of bankruptcy at the moment.
MNSO has a Altman-Z score of 7.17. This is amongst the best in the industry. MNSO outperforms 93.55% of its industry peers.
The Debt to FCF ratio of MNSO is 5.86, which is a neutral value as it means it would take MNSO, 5.86 years of fcf income to pay off all of its debts.
MNSO's Debt to FCF ratio of 5.86 is in line compared to the rest of the industry. MNSO outperforms 58.06% of its industry peers.
MNSO has a Debt/Equity ratio of 0.15. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.15, MNSO is in the better half of the industry, outperforming 64.52% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF 5.86
Altman-Z 7.17
ROIC/WACC2.15
WACC9.22%
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 0 2B 4B 6B 8B

2.3 Liquidity

MNSO has a Current Ratio of 2.38. This indicates that MNSO is financially healthy and has no problem in meeting its short term obligations.
MNSO's Current ratio of 2.38 is amongst the best of the industry. MNSO outperforms 83.87% of its industry peers.
A Quick Ratio of 1.93 indicates that MNSO should not have too much problems paying its short term obligations.
MNSO has a Quick ratio of 1.93. This is in the better half of the industry: MNSO outperforms 77.42% of its industry peers.
Industry RankSector Rank
Current Ratio 2.38
Quick Ratio 1.93
MNSO Yearly Current Assets VS Current LiabilitesMNSO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B

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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 69.24%, which is quite impressive.
The Revenue has grown by 29.06% in the past year. This is a very strong growth!
The Revenue has been growing by 8.51% on average over the past years. This is quite good.
EPS 1Y (TTM)69.24%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%44.74%
Revenue 1Y (TTM)29.06%
Revenue growth 3Y8.51%
Revenue growth 5YN/A
Sales Q2Q%53.09%

3.2 Future

Based on estimates for the next years, MNSO will show a very strong growth in Earnings Per Share. The EPS will grow by 32.52% on average per year.
The Revenue is expected to grow by 29.10% on average over the next years. This is a very strong growth
EPS Next Y53.22%
EPS Next 2Y37.94%
EPS Next 3Y32.52%
EPS Next 5YN/A
Revenue Next Year48.61%
Revenue Next 2Y34.68%
Revenue Next 3Y29.1%
Revenue Next 5YN/A

3.3 Evolution

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 5B 10B 15B 20B 25B
MNSO Yearly EPS VS EstimatesMNSO Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6 8 10

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5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 18.24, MNSO is valued on the expensive side.
Compared to the rest of the industry, the Price/Earnings ratio of MNSO indicates a somewhat cheap valuation: MNSO is cheaper than 61.29% of the companies listed in the same industry.
MNSO's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 29.75.
The Price/Forward Earnings ratio is 13.19, which indicates a correct valuation of MNSO.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MNSO indicates a somewhat cheap valuation: MNSO is cheaper than 64.52% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.44. MNSO is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 18.24
Fwd PE 13.19
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

MNSO's Enterprise Value to EBITDA ratio is in line with the industry average.
Based on the Price/Free Cash Flow ratio, MNSO is valued a bit more expensive than the industry average as 67.74% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 136.25
EV/EBITDA 12.11
MNSO Per share dataMNSO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

MNSO's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of MNSO may justify a higher PE ratio.
A more expensive valuation may be justified as MNSO's earnings are expected to grow with 32.52% in the coming years.
PEG (NY)0.34
PEG (5Y)N/A
EPS Next 2Y37.94%
EPS Next 3Y32.52%

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3

5. Dividend

5.1 Amount

MNSO has a Yearly Dividend Yield of 2.23%.
MNSO's Dividend Yield is rather good when compared to the industry average which is at 5.75. MNSO pays more dividend than 83.87% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.30, MNSO has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.23%

5.2 History

MNSO has paid a dividend for less than 5 years, so there is no long track record yet.
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 0.2 0.4 0.6 0.8

5.3 Sustainability

49.45% of the earnings are spent on dividend by MNSO. This is a bit on the high side, but may be sustainable.
DP49.45%
EPS Next 2Y37.94%
EPS Next 3Y32.52%
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 0 1B -1B
MNSO Dividend Payout.MNSO Dividend Payout, showing the Payout Ratio.MNSO Dividend Payout.PayoutRetained Earnings

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MINISO GROUP HOLDING LTD-ADR

NYSE:MNSO (3/3/2025, 5:19:48 PM)

After market: 19.88 0 (0%)

19.88

-0.93 (-4.47%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustryBroadline Retail
Earnings (Last)02-26 2025-02-26/amc
Earnings (Next)08-28 2025-08-28
Inst Owners10.05%
Inst Owner Change-4.26%
Ins Owners62.7%
Ins Owner ChangeN/A
Market Cap6.21B
Analysts83.33
Price Target23.88 (20.12%)
Short Float %5.85%
Short Ratio5.24
Dividend
Industry RankSector Rank
Dividend Yield 2.23%
Yearly Dividend0.16
Dividend Growth(5Y)N/A
DP49.45%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-22.48%
Min EPS beat(2)-56.08%
Max EPS beat(2)11.11%
EPS beat(4)3
Avg EPS beat(4)0.68%
Min EPS beat(4)-56.08%
Max EPS beat(4)28.47%
EPS beat(8)N/A
Avg EPS beat(8)N/A
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)-1.26%
Min Revenue beat(2)-1.65%
Max Revenue beat(2)-0.86%
Revenue beat(4)2
Avg Revenue beat(4)-0.25%
Min Revenue beat(4)-1.65%
Max Revenue beat(4)1%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
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)0%
PT rev (3m)24.55%
EPS NQ rev (1m)-1.27%
EPS NQ rev (3m)-1.27%
EPS NY rev (1m)-0.21%
EPS NY rev (3m)-1.91%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0.19%
Revenue NY rev (3m)0.32%
Valuation
Industry RankSector Rank
PE 18.24
Fwd PE 13.19
P/S 2.94
P/FCF 136.25
P/OCF 62.34
P/B 4.66
P/tB 4.68
EV/EBITDA 12.11
EPS(TTM)1.09
EY5.48%
EPS(NY)1.51
Fwd EY7.58%
FCF(TTM)0.15
FCFY0.73%
OCF(TTM)0.32
OCFY1.6%
SpS6.77
BVpS4.26
TBVpS4.25
PEG (NY)0.34
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 15.39%
ROE 24.94%
ROCE 27.01%
ROIC 19.84%
ROICexc 50.41%
ROICexgc 50.8%
OM 19.87%
PM (TTM) 15.71%
GM 43.08%
FCFM 2.16%
ROA(3y)1.86%
ROA(5y)-0.89%
ROE(3y)2.57%
ROE(5y)N/A
ROIC(3y)9.4%
ROIC(5y)17.46%
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)12.8%
ROCE(5y)23.77%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y31.3%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y8.36%
GM growth 5YN/A
F-Score6
Asset Turnover0.98
Health
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF 5.86
Debt/EBITDA 0.43
Cap/Depr 100.57%
Cap/Sales 2.56%
Interest Coverage 250
Cash Conversion 21.03%
Profit Quality 13.72%
Current Ratio 2.38
Quick Ratio 1.93
Altman-Z 7.17
F-Score6
WACC9.22%
ROIC/WACC2.15
Cap/Depr(3y)62.32%
Cap/Depr(5y)N/A
Cap/Sales(3y)2.13%
Cap/Sales(5y)1.65%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)69.24%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%44.74%
EPS Next Y53.22%
EPS Next 2Y37.94%
EPS Next 3Y32.52%
EPS Next 5YN/A
Revenue 1Y (TTM)29.06%
Revenue growth 3Y8.51%
Revenue growth 5YN/A
Sales Q2Q%53.09%
Revenue Next Year48.61%
Revenue Next 2Y34.68%
Revenue Next 3Y29.1%
Revenue Next 5YN/A
EBIT growth 1Y37.36%
EBIT growth 3Y42.48%
EBIT growth 5YN/A
EBIT Next Year82.6%
EBIT Next 3Y40.05%
EBIT Next 5YN/A
FCF growth 1Y33.66%
FCF growth 3Y24.69%
FCF growth 5YN/A
OCF growth 1Y18.47%
OCF growth 3Y26.32%
OCF growth 5YN/A