StockData

MINISO Group Holding Ltd (MNSO) stock analysis

MNSONYSERetail-Variety StoresFiscal year ends December 31Also trades as MSOGF
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 24, 2026Score 9/30
$11.21+0.27 (+2.47%)

Close on Nov 13, 2026Market cap $3.47BP/E 19.1Yield –

StockData Score

Prices as of Nov 13, 2026How the score works

Value0Growth3Performance3Health3Dividend0

Mixed9 of 30 checks passed

Miniso passes 9 of the 30 checks behind our score; 17 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
0/6
Growth
3/6
Past performance
3/6
Financial health
3/6
Dividend
0/6

What stands out

  • Return on capital over 10%

    Return on invested capital was 19.0%, above the 10% that usually covers the cost of capital.

  • Revenue growing 10%+ a year

    Revenue grew 33.2% a year over the last three fiscal years.

  • Interest well covered

    Operating income covers interest expense 7.7 times.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 36.0% of total debt.

What to watch

  • Return on equity under 15%

    Return on equity was 11.3% over the last twelve months and averaged -0.2% over five years; we look for 15% on both.

  • High debt

    Debt is 67.5% of shareholders' equity, above the 40% we consider low.

  • Return on equity below the industry

    Miniso's return on equity of 11.3% is below the Variety Stores median of 24.9%.

  • No dividend

    Miniso has not paid a dividend in the last twelve months.

Valuation0/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/B against the industry

    Needs positive book value.

  • Price against fair value

    We could not estimate a fair value: it needs at least two valuation methods with positive inputs.

  • Margin of safety

    Depends on the fair value estimate.

Growth3/6

  • Revenue growing 10%+ a year

    Revenue grew 33.2% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing faster than the industry

    Revenue grew 86.9% over the last twelve months; the Variety Stores median is 9.6%.

  • Company guidance

    No outlook found in earnings releases from the last twelve months.

  • Gross margin improving

    Gross margin was 45.0% over the last twelve months, against 38.7% a year earlier.

Past performance3/6

  • Return on equity under 15%

    Return on equity was 11.3% over the last twelve months and averaged -0.2% over five years; we look for 15% on both.

  • Return on capital over 10%

    Return on invested capital was 19.0%, above the 10% that usually covers the cost of capital.

  • Return on equity below the industry

    Miniso's return on equity of 11.3% is below the Variety Stores median of 24.9%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin above its 5-year average

    Net margin was 5.6% over the last twelve months, against a 5-year average of 1.8%.

  • Net margin above the industry

    Miniso's net margin of 5.6% is above the Variety Stores median of 4.0%.

Financial health3/6

  • High debt

    Debt is 67.5% of shareholders' equity, above the 40% we consider low.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 36.0% of total debt.

  • Interest well covered

    Operating income covers interest expense 7.7 times.

  • Short-term assets cover short-term debts

    Current assets are 1.66 times current liabilities.

  • Bankruptcy risk (Altman Z)

    Needs market value, working capital and retained earnings.

Dividend0/6

  • No dividend

    Miniso has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

We don't publish a fair value for Miniso. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Medium risk

Average value traded per day
$12.64M
Value traded per 1% price move
$5.60M

Downside

Medium risk

Typical loss in a bad month
23.7%
Volatility (annualized)
37%
Sharpe ratio, 1 year
-1.43
Beta to the S&P 500 (5Y)
0.59

Typical bad-month loss, week by week

25%: high

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

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