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MINISO Group Holding Limited (MNSO) 10-Year Financial Performance & Capital Metrics

MNSO • • Industrial / General
Consumer CyclicalSpecialty RetailHome Goods & FurnishingsUnique Retail Concepts
AboutMINISO 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.Show more
  • Revenue $16.99B +48.1%
  • EBITDA $3.39B +57.1%
  • Net Income $2.62B +48.0%
  • EPS (Diluted) 8.40 +5.0%
  • Gross Margin 44.94% +16.0%
  • EBITDA Margin 19.95% +6.1%
  • Operating Margin 19.51% +5.5%
  • Net Margin 15.4%
  • ROE 26.78% +37.1%
  • ROIC 44.55% +2.9%
  • Debt/Equity 0.30 +120.4%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 22.8%
  • ✓Strong 5Y sales CAGR of 13.6%
  • ✓Trading at only 0.6x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y13.61%
3Y19%
TTM21.15%

Profit (Net Income) CAGR

10Y-
5Y-
3Y60.07%
TTM3.43%

EPS CAGR

10Y-
5Y-
3Y59.25%
TTM60.39%

ROCE

10Y Avg26.11%
5Y Avg19.48%
3Y Avg25.73%
Latest29.51%

Peer Comparison

Unique Retail Concepts
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Growth
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Quality & Returns
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Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
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BBWBuild-A-Bear Workshop, Inc.919.54M71.0318.692.12%11.34%38.12%3.02%0.70
MNSOMINISO Group Holding Limited5.96B19.642.3448.12%13.85%22.96%23.6%0.30
FLWS1-800-FLOWERS.COM, Inc.170.55M4.66-1.49-7.96%-13.19%-100.58%1.01
ZKHZKH Group Limited466.38M3.52-2.150.46%-2.64%-7.72%31.31%0.18
BNEDBarnes & Noble Education, Inc.304.44M8.94-3.582.75%-4.09%-24.18%0.66
JBDIJBDI Holdings Limited12.9M0.67-13.56-15.54%-10.4%-103.5%7.12%5.28

Profit & Loss

Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Dec 2023Dec 2024
Sales/Revenue+9.39B8.98B9.07B10.09B11.47B11.47B16.99B
Revenue Growth %--0.04%0.01%0.11%0.14%0%0.48%
Cost of Goods Sold+6.88B6.25B6.64B7.02B7.03B7.03B9.36B
COGS % of Revenue0.73%0.7%0.73%0.7%0.61%0.61%0.55%
Gross Profit+2.51B2.73B2.43B3.07B4.44B4.44B7.64B
Gross Margin %0.27%0.3%0.27%0.3%0.39%0.39%0.45%
Gross Profit Growth %-0.09%-0.11%0.26%0.45%0%0.72%
Operating Expenses+1.49B1.97B2.03B2.19B2.22B2.26B4.32B
OpEx % of Revenue0.16%0.22%0.22%0.22%0.19%0.2%0.25%
Selling, General & Admin1.41B1.99B2.02B2.26B2.35B2.35B4.45B
SG&A % of Revenue0.15%0.22%0.22%0.22%0.2%0.2%0.26%
Research & Development0000000
R&D % of Revenue-------
Other Operating Expenses-7.35M-46.36M0-99.75M-128.59M0-127.44M
Operating Income+1.02B766.58M401.04M882.03M2.22B2.12B3.32B
Operating Margin %0.11%0.09%0.04%0.09%0.19%0.18%0.2%
Operating Income Growth %--0.25%-0.48%1.2%1.52%-0.05%0.56%
EBITDA+1.04B804.06M431.54M940.89M2.26B2.16B3.39B
EBITDA Margin %0.11%0.09%0.05%0.09%0.2%0.19%0.2%
EBITDA Growth %--0.23%-0.46%1.18%1.4%-0.05%0.57%
D&A (Non-Cash Add-back)25.93M37.48M30.51M58.87M36.8M36.8M74.1M
EBIT1.03B766.84M450.67M811.15M2.12B2.12B3.15B
Net Interest Income+0-5.73M12.07M32.95M110.6M226.1M188.05M
Interest Income7.31M25.61M40.43M66.34M145.22M226.1M188.05M
Interest Expense25.21M31.34M28.36M33.4M34.62M00
Other Income/Expense-727.68M-685.76M-1.62B24.79M110.6M212.61M31.74M
Pretax Income+289M80.82M-1.22B906.81M2.33B2.33B3.35B
Pretax Margin %0.03%0.01%-0.13%0.09%0.2%0.2%0.2%
Income Tax+279.58M210.95M213.25M267.07M551.78M793.33M712.1M
Effective Tax Rate %-1.01%-3.25%1.16%0.7%0.76%0.76%0.78%
Net Income+-290.65M-262.27M-1.42B638.17M1.77B1.77B2.62B
Net Margin %-0.03%-0.03%-0.16%0.06%0.15%0.15%0.15%
Net Income Growth %-0.1%-4.4%1.45%1.77%-0%0.48%
Net Income (Continuing)9.42M-130.13M-1.43B639.74M1.78B2.51B2.64B
Discontinued Operations-303.83M-130.04M00000
Minority Interest10.81M13.58M-6.81M-4.24M17.25M23.02M40.55M
EPS (Diluted)+-0.96-0.88-5.122.085.648.008.40
EPS Growth %-0.08%-4.82%1.41%1.71%0.42%0.05%
EPS (Basic)-0.96-0.88-5.162.125.648.008.40
Diluted Shares Outstanding304.16M303.98M276.09M304.16M313.56M312.91M311.7M
Basic Shares Outstanding301.38M303.98M275.02M301.38M311.43M312.1M311.61M
Dividend Payout Ratio---0.48%0.21%1.04%0.48%

Balance Sheet

Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Dec 2023Dec 2024
Total Current Assets+4.51B4.99B9.2B8.07B9.9B10.33B11.66B
Cash & Short-Term Investments1.9B2.85B6.87B5.8B7.28B6.63B6.7B
Cash Only1.55B2.85B6.77B5.35B6.49B6.42B6.33B
Short-Term Investments356.26M0102.97M447.4M787.04M210.76M368.95M
Accounts Receivable741.9M600.5M348.31M808.82M951.92M426.94M1.9B
Days Sales Outstanding28.8224.4114.0129.2730.2813.5840.73
Inventory1.31B1.4B1.53B1.19B1.45B1.97B2.75B
Days Inventory Outstanding69.481.5584.3661.8175.31102.45107.29
Other Current Assets469.47M7.06M429.83M32.38M27.07M1.16B1.03M
Total Non-Current Assets+714.4M849.65M1.51B3.21B3.54B4.16B6.46B
Property, Plant & Equipment576.71M590.93M899.66M1.21B1.38B3.67B3.97B
Fixed Asset Turnover16.29x15.19x10.08x8.33x8.31x3.13x4.28x
Goodwill0019.64M19.39M21.07M21.64M21.42M
Intangible Assets49.88M69.09M61.01M1.79B1.73B19.55M1.65B
Long-Term Investments00352.06M0173.87M106.39M302.15M
Other Non-Current Assets06.11M5.02M29.09M74.64M339.93M341.29M
Total Assets+5.23B5.84B10.71B11.28B13.45B14.49B18.12B
Asset Turnover1.80x1.54x0.85x0.89x0.85x0.79x0.94x
Asset Growth %-0.12%0.83%0.05%0.19%0.08%0.25%
Total Current Liabilities+3.25B3.31B3.48B3.79B3.89B4.41B5.73B
Accounts Payable591.34M483.28M624.69M649.41M653.71M863.25M1.28B
Days Payables Outstanding31.3528.2434.3333.7933.9444.8249.87
Short-Term Debt2.75M401.18M13.67M445K0726K566.96M
Deferred Revenue (Current)1000K1000K1000K1000K1000K01000K
Other Current Liabilities364.66M00002.58B0
Current Ratio1.39x1.51x2.64x2.13x2.55x2.34x2.04x
Quick Ratio0.99x1.08x2.20x1.82x2.18x1.90x1.55x
Cash Conversion Cycle66.8777.7264.0457.371.6571.2298.15
Total Non-Current Liabilities+2.09B2.85B570.02M465.72M643.85M887.11M2.04B
Long-Term Debt5.31M15.21M6.92M6.5M7.21M6.53M4.31M
Capital Lease Obligations309.83M378.89M483.14M393.07M556.8M797.99M1.9B
Deferred Tax Liabilities0000000
Other Non-Current Liabilities1.7B2.38B00082.59M59.84M
Total Liabilities5.34B6.16B4.05B4.25B4.53B5.29B7.76B
Total Debt+504.63M1.02B825.01M658.01M892.95M1.25B3.11B
Net Debt-1.04B-1.83B-5.95B-4.69B-5.6B-5.16B-3.22B
Debt / Equity--0.12x0.09x0.10x0.14x0.30x
Debt / EBITDA0.48x1.27x1.91x0.70x0.40x0.58x0.92x
Net Debt / EBITDA-1.00x-2.28x-13.78x-4.99x-2.48x-2.39x-0.95x
Interest Coverage40.33x24.46x14.14x26.41x64.21x--
Total Equity+-113.97M-323.05M6.65B7.03B8.92B9.19B10.36B
Equity Growth %--1.83%21.59%0.06%0.27%0.03%0.13%
Book Value per Share-0.37-1.0624.0923.1028.4429.3733.22
Total Shareholders' Equity-124.79M-336.63M6.66B7.03B8.9B9.17B10.31B
Common Stock069K92K92K95K95K94K
Retained Earnings-525.76M-1.13B-2.56B-1.94B539.33M1.89B4.3B
Treasury Stock----83.8M-84.05M-157.61M-84.05M
Accumulated OCI259.92M625.98M928M993.31M277.29M1.1B368.08M
Minority Interest10.81M13.58M-6.81M-4.24M17.25M23.02M40.55M

Cash Flow

Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Dec 2023Dec 2024
Cash from Operations+1.04B826.48M916.32M1.41B1.67B2.2B2.17B
Operating CF Margin %0.11%0.09%0.1%0.14%0.15%0.19%0.13%
Operating CF Growth %--0.2%0.11%0.53%0.18%0.32%-0.01%
Net Income-290.65M-262.27M-1.43B639.74M1.78B2.25B2.64B
Depreciation & Amortization191.78M268.67M265.02M80.27M56.97M570.48M853.9M
Stock-Based Compensation122.06M364.38M281.32M82.83M62.88M82.73M85.18M
Deferred Taxes00213.25M267.07M551.78M0712.1M
Other Non-Cash Items1.33B660.79M1.31B-13.93M-267.6M826.93M-1.02B
Working Capital Changes-315.43M-205.09M277.21M350.28M-519.84M-1.54B-1.1B
Change in Receivables83.66M-120.23M-80.09M-190.15M-185.77M-633.07M-836.82M
Change in Inventory-392.82M-86.72M-93.2M307.97M-250.85M-943.44M-828.15M
Change in Payables0000000
Cash from Investing+-210.91M462.81M-518.8M-2.13B-293.41M354.15M-533.25M
Capital Expenditures-116.12M-56.97M-180.28M-290.11M-174.15M-529.53M-762.54M
CapEx % of Revenue0.01%0.01%0.02%0.03%0.02%0.05%0.04%
Acquisitions-------
Investments-------
Other Investing-94.79M519.79M-329.69M-1.15B-119.26M879.11M229.28M
Cash from Financing+619.86M-117.71M3.54B-733.56M-325.96M-2.64B-1.72B
Debt Issued (Net)-------
Equity Issued (Net)-------
Dividends Paid0-330.34M0-306.25M-370.79M-2.22B-1.24B
Share Repurchases-------
Other Financing800.06M-1.39M-10.64M-19.46M427.45M244.3M-963K
Net Change in Cash-------
Free Cash Flow+922.35M769.51M736.04M172.06M1.49B1.67B1.41B
FCF Margin %0.1%0.09%0.08%0.02%0.13%0.15%0.08%
FCF Growth %--0.17%-0.04%-0.77%7.67%0.12%-0.16%
FCF per Share3.032.532.670.574.765.324.51
FCF Conversion (FCF/Net Income)-3.57x-3.15x-0.65x2.20x0.94x1.24x0.83x
Interest Paid------0
Taxes Paid------0

Key Ratios

Metric2018201920202021202220232024
Return on Equity (ROE)---44.71%9.33%22.19%19.53%26.78%
Return on Invested Capital (ROIC)--42.63%43.49%58.92%43.28%44.55%
Gross Margin26.73%30.43%26.79%30.44%38.73%38.73%44.94%
Net Margin-3.09%-2.92%-15.6%6.33%15.42%15.41%15.4%
Debt / Equity--0.12x0.09x0.10x0.14x0.30x
Interest Coverage40.33x24.46x14.14x26.41x64.21x--
FCF Conversion-3.57x-3.15x-0.65x2.20x0.94x1.24x0.83x
Revenue Growth--4.43%1.03%11.18%13.76%0%48.12%

Revenue by Segment

20202021202220232024
- Product sales to franchisees-5.5B5.96B5.96B7.92B
- Product sales to franchisees Growth--8.39%0.00%32.94%
- Sales to offline distributors-2.07B2.61B2.61B3.37B
- Sales to offline distributors Growth--26.09%0.00%28.95%
- Retail sales in self-operated stores-555.23M990.05M990.05M3.16B
- Retail sales in self-operated stores Growth--78.31%0.00%219.06%
- Online sales-651.04M706.4M706.4M941.05M
- Online sales Growth--8.50%0.00%33.22%
-Others-402.59M428.4M428.4M683.63M
-Others Growth--6.41%0.00%59.58%
- Sales-based management and consultation service fees-478.77M500.77M500.77M640.94M
- Sales-based management and consultation service fees Growth--4.60%0.00%27.99%
- Sales-based royalties-97.45M102.09M102.09M131.4M
- Sales-based royalties Growth--4.76%0.00%28.71%
- License fees-109.17M84.71M84.71M96.84M
- License fees Growth---22.40%0.00%14.31%
- Other sales channels-220.07M87.53M87.53M48.19M
- Other sales channels Growth---60.23%0.00%-44.94%
Lifestyle Product8.04B----
Lifestyle Product Growth-----
Product Sales To Franchisees5.51B----
Product Sales To Franchisees Growth-----
Sales To Distributors1.51B----
Sales To Distributors Growth-----
Online Sales663.2M----
Online Sales Growth-----
License Fees Sales Based Royalties And Sales Based Management And Consultation Service Fees658.38M----
License Fees Sales Based Royalties And Sales Based Management And Consultation Service Fees Growth-----
Sales Based Management And Consultation Service Fees488.14M----
Sales Based Management And Consultation Service Fees Growth-----
Ifrs Product And Service Other376.61M----
Ifrs Product And Service Other Growth-----
Retail Sales In Self Operated Stores323.77M----
Retail Sales In Self Operated Stores Growth-----
Sales Based Royalties97.85M----
Sales Based Royalties Growth-----
License Fees72.39M----
License Fees Growth-----
Other Sales Channels33.5M----
Other Sales Channels Growth-----

Revenue by Geography

20202021202220232024
the PRC-7.44B7.65B7.65B10.31B
the PRC Growth--2.80%0.00%34.78%
Other Asian countries excluding the PRC-1.17B1.82B1.82B2.54B
Other Asian countries excluding the PRC Growth--55.07%0.00%39.58%
North America----1.99B
North America Growth-----
Latin America----1.45B
Latin America Growth-----
Europe117.21M174.69M151.5M151.5M414.49M
Europe Growth-49.04%-13.28%0.00%173.60%
Other countries-105.36M111.75M111.75M294.86M
Other countries Growth--6.07%0.00%163.85%
America-1.19B1.74B1.74B-
America Growth--46.16%0.00%-
Country Of Domicile7.29B----
Country Of Domicile Growth-----
Asia Excluding Prc961.62M----
Asia Excluding Prc Growth-----
Americas584.63M----
Americas Growth-----
Other Countries116.97M----
Other Countries Growth-----

Frequently Asked Questions

Valuation & Price

MINISO Group Holding Limited (MNSO) has a price-to-earnings (P/E) ratio of 2.3x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

MINISO Group Holding Limited (MNSO) reported $17.70B in revenue for fiscal year 2024. This represents a 88% increase from $9.39B in 2018.

MINISO Group Holding Limited (MNSO) grew revenue by 48.1% over the past year. This is strong growth.

Yes, MINISO Group Holding Limited (MNSO) is profitable, generating $2.45B in net income for fiscal year 2024 (15.4% net margin).

Dividend & Returns

Yes, MINISO Group Holding Limited (MNSO) pays a dividend with a yield of 20.32%. This makes it attractive for income-focused investors.

MINISO Group Holding Limited (MNSO) has a return on equity (ROE) of 26.8%. This is excellent, indicating efficient use of shareholder capital.

MINISO Group Holding Limited (MNSO) generated $1.41B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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