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

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

23.73  +0.71 (+3.08%)

Fundamental Rating

7

MNSO gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 32 industry peers in the Broadline Retail industry. MNSO scores excellent points on both the profitability and health parts. This is a solid base for a good stock. MNSO is not overvalued while it is showing excellent growth. This is an interesting combination. These ratings could make MNSO a good candidate for growth and quality investing.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

MNSO had positive earnings in the past year.
In the past year MNSO had a positive cash flow from operations.
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

MNSO's Return On Assets of 15.39% is amongst the best of the industry. MNSO outperforms 96.77% of its industry peers.
With an excellent Return On Equity value of 24.94%, MNSO belongs to the best of the industry, outperforming 80.65% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 19.84%, MNSO belongs to the top of the industry, outperforming 93.55% of the companies in the same industry.
MNSO had an Average Return On Invested Capital over the past 3 years of 9.40%. This is in line with the industry average of 11.22%.
The 3 year average ROIC (9.40%) for MNSO is below the current ROIC(19.84%), indicating increased profibility in the last year.
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

MNSO has a Profit Margin of 15.71%. This is amongst the best in the industry. MNSO outperforms 93.55% of its industry peers.
MNSO has a better Operating Margin (19.87%) than 93.55% of its industry peers.
In the last couple of years the Operating Margin of MNSO has grown nicely.
With a Gross Margin value of 43.08%, MNSO perfoms like the industry average, outperforming 54.84% of the companies in the same industry.
MNSO's Gross Margin has improved in the last couple of years.
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.
MNSO has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, MNSO has less shares outstanding
MNSO has a worse debt/assets ratio than last year.
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 7.66. This indicates that MNSO is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of MNSO (7.66) is better than 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.
The Debt to FCF ratio of MNSO (5.86) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.15 indicates that MNSO is not too dependend on debt financing.
With a decent Debt to Equity ratio value of 0.15, MNSO is doing good in 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 7.66
ROIC/WACC2.65
WACC7.48%
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 has a better Current ratio (2.38) than 80.65% of its industry peers.
MNSO has a Quick Ratio of 1.93. This is a normal value and indicates that MNSO is financially healthy and should not expect problems in meeting 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

The Earnings Per Share has grown by an impressive 180.60% over the past year.
MNSO shows a strong growth in Revenue. In the last year, the Revenue has grown by 29.06%.
MNSO shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.51% yearly.
EPS 1Y (TTM)180.6%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%393.45%
Revenue 1Y (TTM)29.06%
Revenue growth 3Y8.51%
Revenue growth 5YN/A
Sales Q2Q%26.32%

3.2 Future

MNSO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 32.39% yearly.
The Revenue is expected to grow by 28.97% on average over the next years. This is a very strong growth
EPS Next Y54.21%
EPS Next 2Y38.03%
EPS Next 3Y32.39%
EPS Next 5YN/A
Revenue Next Year48.33%
Revenue Next 2Y34.52%
Revenue Next 3Y28.97%
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
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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6

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 13.04, MNSO is valued correctly.
Compared to the rest of the industry, the Price/Earnings ratio of MNSO indicates a somewhat cheap valuation: MNSO is cheaper than 64.52% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of MNSO to the average of the S&P500 Index (28.28), we can say MNSO is valued rather cheaply.
MNSO is valuated correctly with a Price/Forward Earnings ratio of 15.66.
61.29% of the companies in the same industry are more expensive than MNSO, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 91.29. MNSO is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 13.04
Fwd PE 15.66
MNSO Price Earnings VS Forward Price EarningsMNSO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MNSO is on the same level as its industry peers.
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 162.02
EV/EBITDA 13.51
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.
MNSO has an outstanding profitability rating, which may justify a higher PE ratio.
MNSO's earnings are expected to grow with 32.39% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.24
PEG (5Y)N/A
EPS Next 2Y38.03%
EPS Next 3Y32.39%

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3

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.01%, MNSO has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 5.40, MNSO pays a better dividend. On top of this MNSO pays more dividend than 83.87% of the companies listed in the same industry.
MNSO's Dividend Yield is comparable with the S&P500 average which is at 2.27.
Industry RankSector Rank
Dividend Yield 2.01%

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 2Y38.03%
EPS Next 3Y32.39%
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 (1/30/2025, 12:00:57 PM)

23.73

+0.71 (+3.08%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustryBroadline Retail
Earnings (Last)11-18 2024-11-18/bmo
Earnings (Next)N/A N/A
Inst Owners10.05%
Inst Owner Change-0.12%
Ins Owners62.7%
Ins Owner ChangeN/A
Market Cap7.41B
Analysts83.33
Price Target24.27 (2.28%)
Short Float %7.35%
Short Ratio4.43
Dividend
Industry RankSector Rank
Dividend Yield 2.01%
Yearly Dividend0.3
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)20.06%
PT rev (3m)46.59%
EPS NQ rev (1m)-1.27%
EPS NQ rev (3m)-4.93%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.84%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.15%
Revenue NY rev (1m)0.13%
Revenue NY rev (3m)-0.14%
Valuation
Industry RankSector Rank
PE 13.04
Fwd PE 15.66
P/S 3.49
P/FCF 162.02
P/OCF 74.14
P/B 5.54
P/tB 5.56
EV/EBITDA 13.51
EPS(TTM)1.82
EY7.67%
EPS(NY)1.52
Fwd EY6.39%
FCF(TTM)0.15
FCFY0.62%
OCF(TTM)0.32
OCFY1.35%
SpS6.79
BVpS4.28
TBVpS4.26
PEG (NY)0.24
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 7.66
F-Score6
WACC7.48%
ROIC/WACC2.65
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)180.6%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%393.45%
EPS Next Y54.21%
EPS Next 2Y38.03%
EPS Next 3Y32.39%
EPS Next 5YN/A
Revenue 1Y (TTM)29.06%
Revenue growth 3Y8.51%
Revenue growth 5YN/A
Sales Q2Q%26.32%
Revenue Next Year48.33%
Revenue Next 2Y34.52%
Revenue Next 3Y28.97%
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