MNSONYSERetail-Variety StoresFiscal year ends December 31Also trades as MSOGF
MINISO Group Holding Ltd
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 24, 2026
$10.25+0.06 (+0.59%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2019 to 2025
Gross margin
45.0%+18.3 pts over 5 years
Operating margin
15.4%+4.6 pts over 5 years
Net margin
5.6%+8.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | – | +28.6% | +19.0% | – | |
| Gross profit | – | +46.5% | +28.7% | – | |
| Operating income | – | +55.3% | +33.9% | – | |
| Net income | – | +23.6% | – | – | |
| EPS, diluted | – | +23.5% | – | – |
Returns and balance sheet
6 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2019 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | – | |
| Return on assets | – | – | – | |
| Current ratio | – | – | 1.66 | |
| Debt to equity | – | – | 0.67 | |
| Net debt to EBITDA | – | – | 0.08× | |
| Interest coverage | 40.3× | 40.3× | 7.7× | |
| Inventory turnover | – | – | – | |
| Diluted shares | – | – | 1.23B |
Cash use needs five years of cash flow figures
MINISO Group does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin15.4%
×Asset turnover0.93×
×Equity multiplier1.55×
=Return on equity, FY202322.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2023 | 15.4% | 0.93× | 1.55× | 22.2% |
| FY2022 | 6.3% | 0.92× | 1.61× | 9.3% |
| FY2021 | -15.6% | 1.10× | 2.62× | -44.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 3 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zeroCN¥1.21B
- Cash generatingOperating cash flow above zeroCN¥2.58B
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net incomeCN¥2.58B vs CN¥1.21B
- Less leverageLong-term debt to assets fell– → 18.9%
- Better liquidityCurrent ratio rose– → 1.66
- No dilutionShare count did not rise– → 1.23B
- Gross margin improvedGross margin up on the prior year– → 44.99%
- More efficientAsset turnover rose– → –