MINISO Group Holding (MNSO) AI Stock Analysis

• Market Cap: $7.12B
• Dividend Yield: 2.8%
• Average Volume (3M): 960.80K
• Price to Earnings (P/E): 21.5
• Beta (1Y): 0.66
• Revenue Growth: 10.93%
• EPS Growth: -10.89%
• Country: US
• Employees: 7,003
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): 0.22
• Shares Outstanding: 309,391,050
• 10 Day Avg. Volume: 1,249,645
• 30 Day Avg. Volume: 960,798
• PEG Ratio: 4.15
• Price to Book (P/B): 5.27
• Price to Sales (P/S): 3.20
• P/FCF Ratio: 38.65
• Enterprise Value/Market Cap: 0.85
• Enterprise Value/Revenue: 0.34
• Enterprise Value/Gross Profit: 0.76
• Enterprise Value/Ebitda: 1.97
• 1Y Price Target: $26.62
• Price Target Upside: 20.73% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6

• Rating: 77 Outperform
• Price Target: $25.00 ▲(13.38% Upside)

MINISO Group Holding's strong financial performance and positive earnings call are the most significant factors driving the score. Despite mixed technical indicators, the company's robust growth and strategic initiatives position it well in the specialty retail sector. The valuation is reasonable, with a solid dividend yield adding to its appeal.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust market demand and effective sales strategies, positioning MINISO for continued expansion and market leadership.

International Market Expansion

Successful international expansion enhances revenue diversification and reduces reliance on any single market, strengthening long-term growth prospects.

Strategic Share Repurchase

Share repurchase reflects confidence in future performance and enhances shareholder value by reducing share count, potentially increasing EPS.

Negative Factors

Profit Decline

Declining profits amid revenue growth suggest rising costs or inefficiencies, which could impact long-term profitability if not addressed.

Latin American Market Challenges

Challenges in Latin America highlight potential vulnerabilities in regional operations, which may hinder overall growth if not resolved.

Tariff Concerns

Tariff concerns pose a risk to cost structures and margins, potentially affecting competitiveness and profitability in key markets.

MINISO Group Holding Business Overview & Revenue Model

Company Description

MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of lifestyle products in China, Asia, the Americas, and Europe. The company offers products in various categories, including home decor products, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances and perfumes, and stationeries and gifts under the MINISO and WonderLife brand names; and blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji, sculptures, and other popular toys under the TOP TOY brand. As of June 30, 2021, it operated a network of approximately 4,749 MINISO stores, as well as online sales channels. The company was founded in 2013 and is based in Guangzhou, China.

How the Company Makes Money

MINISO makes money through its extensive network of retail stores and online platforms across various countries. The company's revenue model is based on direct sales of its diverse product portfolio, which includes private-label goods and exclusive licensed products. Key revenue streams include physical store sales, which are bolstered by strategic locations in high-traffic areas, and e-commerce sales, driven by a robust online presence. Significant partnerships with popular brands and designers also contribute to its earnings by attracting a wide customer base. Furthermore, MINISO leverages economies of scale in its supply chain to offer competitive pricing, enhancing its market appeal and profitability.

MINISO Group Holding Financial Statement Overview

Summary

MINISO Group Holding exhibits strong financial health with impressive revenue and profit growth, a solid equity base, and manageable debt levels. The income statement shows robust growth, while the balance sheet reflects financial stability. Cash flow is stable, with room for efficiency improvements.

Income Statement

MINISO Group Holding has demonstrated solid growth in its income statement. The revenue growth rate from 2023 to 2024 was impressive, illustrating a strong upward trajectory. The gross profit margin and net profit margin have shown considerable improvement, indicating enhanced profitability. The EBIT and EBITDA margins are robust, reflecting effective cost management and operational efficiency. Overall, the company's income statement reveals strong growth and profitability, positioning it favorably in the specialty retail sector.

Balance Sheet

The balance sheet of MINISO Group Holding reflects financial stability with a solid equity base and a manageable level of debt. The debt-to-equity ratio is low, suggesting conservative leverage. The return on equity has significantly improved, showcasing the company's ability to generate returns from shareholders' investments. The equity ratio indicates a healthy proportion of equity financing. While there is a strong equity position, the company should remain vigilant in managing liabilities to sustain this positive trend.

Cash Flow

The cash flow analysis of MINISO Group Holding highlights a stable cash generation capability. The operating cash flow to net income ratio is favorable, indicating efficient conversion of earnings into cash. The free cash flow growth rate is positive, supporting future investments and debt servicing. However, the free cash flow to net income ratio suggests room for improvement in cash flow management. Overall, the cash flow statement reflects a solid cash position, with opportunities to enhance cash flow efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	17.70B	16.99B	11.47B	11.47B	10.09B	9.07B
Gross Profit	7.98B	7.64B	4.44B	4.44B	3.07B	2.43B
EBITDA	3.07B	3.23B	2.16B	2.16B	870.01M	481.17M
Net Income	2.45B	2.62B	1.77B	1.77B	638.17M	-1.42B
Balance Sheet
Total Assets	26.19B	18.12B	14.49B	13.45B	11.28B	10.71B
Cash, Cash Equivalents and Short-Term Investments	7.25B	6.70B	6.63B	7.28B	5.80B	6.87B
Total Debt	9.21B	3.11B	1.25B	892.95M	658.01M	825.01M
Total Liabilities	15.51B	7.76B	5.29B	4.53B	4.25B	4.05B
Stockholders Equity	10.63B	10.31B	9.17B	8.90B	7.03B	6.66B
Cash Flow
Free Cash Flow	0.00	1.41B	1.67B	1.49B	172.06M	736.04M
Operating Cash Flow	0.00	2.17B	2.20B	1.67B	1.41B	916.32M
Investing Cash Flow	0.00	-533.25M	354.15M	-293.41M	-2.13B	-518.80M
Financing Cash Flow	0.00	-1.72B	-2.64B	-325.96M	-733.56M	3.54B

MINISO Group Holding Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 22.05
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MNSO, the sentiment is Negative. The current price of 22.05 is below the 20-day moving average (MA) of 22.33, below the 50-day MA of 22.95, and above the 200-day MA of 20.17, indicating a neutral trend. The MACD of -0.29 indicates Negative momentum. The RSI at 45.89 is Neutral, neither overbought nor oversold. The STOCH value of 64.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MNSO.

MINISO Group Holding Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VIPS	79 Outperform	$9.28B	10.21	17.79%	2.55%	-5.24%	-12.89%
MNSO	77 Outperform	$7.12B	21.55	22.92%	2.80%	10.93%	-10.89%
FIVE	74 Outperform	$8.38B	30.74	15.54%	―	13.88%	-2.64%
BBWI	63 Neutral	$5.36B	7.73	-52.83%	3.08%	-0.18%	-18.95%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
ETSY	59 Neutral	$7.08B	57.14	-39.97%	―	2.38%	-38.88%
W	57 Neutral	$10.79B	―	17.86%	―	0.87%	54.67%

MINISO Group Holding Corporate Events

MINISO Reports Share Capital Adjustments in September 2025

MINISO Group Holding Limited reported a decrease in its issued shares by 5,072,672 as of September 30, 2025, due to share repurchases and cancellations. This adjustment in share capital is part of the company’s ongoing strategy to manage its equity structure, potentially impacting shareholder value and market perception.

MINISO Announces Share Repurchase and Cancellation as of September 30, 2025

On September 30, 2025, MINISO Group Holding Limited announced changes in its issued shares, including the repurchase and cancellation of shares on both the Hong Kong and New York Stock Exchanges. This move, involving a reduction of 2,619,800 shares on the Hong Kong Stock Exchange and 2,452,872 shares on the New York Stock Exchange, reflects the company’s strategic efforts to manage its equity structure, potentially enhancing shareholder value and market positioning.

MINISO Reports Strong Revenue Growth Amid Profit Decline in 2025 Interim Report

On September 22, 2025, MINISO Group Holding Limited released its 2025 Interim Report, highlighting a 21.1% increase in revenue and a 22.6% rise in gross profit for the six months ending June 30, 2025, compared to the same period in 2024. Despite these gains, the company experienced a decrease in profit before taxation and profit for the period, attributed to various financial adjustments. The report underscores MINISO’s strategic focus on using non-IFRS measures to provide a clearer picture of its operational performance, which is crucial for stakeholders to understand the company’s financial health and future growth potential.

MINISO Reports Stable Share Capital Amid Ongoing Repurchase Program

On September 4, 2025, MINISO Group Holding Limited reported no changes in its authorized or issued share capital for the month ending August 31, 2025. The company maintained a total of 10 billion authorized shares and 1.24 billion issued shares. Additionally, the company highlighted its ongoing share repurchase program, with shares repurchased from both the Hong Kong Exchange and the New York Stock Exchange still pending cancellation. This stability in share capital and the active repurchase program may indicate a strategic focus on shareholder value and market confidence.

MINISO Announces Adjustments to Equity Securities Following Dividend Declaration

On August 29, 2025, MINISO Group Holding Limited announced adjustments to the exercise price of its equity-linked securities and call spread due to the declaration of a 2025 interim dividend. The exercise price of the equity-linked securities was adjusted from US$8.1516 to US$8.0314 per share, effective September 6, 2025, while the upper strike exercise price was adjusted from US$12.9246 to US$12.7340 per share. These adjustments resulted in an increase in the number of shares that may be settled or issued, reflecting the company’s strategic financial management and potentially impacting shareholder value.

MINISO Group Reports Strong Growth in June 2025 Quarter

In its financial results for the June quarter and the first half of 2025, MINISO Group reported a 23.1% increase in revenue and an 11.3% rise in operating profit for the quarter, with a notable 87% revenue growth for its TOP TOY brand. The company also announced an interim dividend and resumed store network expansion in mainland China, opening 30 new stores in the June quarter. The results highlight MINISO’s strategic growth and market expansion, with a total of 7,905 stores worldwide as of June 30, 2025, reflecting a year-over-year increase of 842 stores, underscoring its strong market positioning and commitment to global expansion.

MINISO Executes Share Repurchase Plan on July 31, 2025

On July 31, 2025, MINISO Group Holding Limited reported a repurchase of 53,000 ordinary shares as part of a Hong Kong automatic share repurchase plan. This move reflects the company’s strategic initiative to manage its share capital and potentially enhance shareholder value. The repurchase was conducted on the Hong Kong Stock Exchange, with the shares bought back at prices ranging from HKD 36.9 to HKD 38, totaling HKD 1,987,240. This action is part of the company’s broader strategy to optimize its capital structure and demonstrates its commitment to delivering value to its stakeholders.

MINISO Executes Share Repurchase on NYSE Amid Strategic Financial Moves

On July 25, 2025, MINISO Group Holding Limited executed a share repurchase program on the New York Stock Exchange, buying back 51,200 ordinary shares at a total cost of USD 243,695.15. This move is part of a broader repurchase mandate authorized in June 2025, allowing the company to repurchase up to 124,122,899 shares. The repurchase is expected to impact the company’s share value and reflects its strategic financial management, potentially benefiting shareholders by enhancing earnings per share.

MINISO Executes Strategic Share Repurchase on NYSE

On July 17, 2025, MINISO Group Holding Limited repurchased 54,000 ordinary shares on the New York Stock Exchange as part of its 10b5-1 repurchase program. This move is part of the company’s strategic efforts to manage its share capital and potentially enhance shareholder value. The repurchase aligns with regulatory compliance and reflects MINISO’s proactive approach to optimizing its financial structure.

MINISO Executes Share Repurchase on NYSE Amid Strategic Capital Optimization

On July 14, 2025, MINISO Group Holding Limited repurchased 53,200 ordinary shares on the New York Stock Exchange as part of its ongoing 10b5-1 repurchase program. This strategic move is aimed at optimizing the company’s capital structure and potentially enhancing shareholder value, reflecting MINISO’s commitment to maintaining a robust financial position.