MINISO Group Holding Limited (MNSO) Financial Ratios
8 years of historical data (2018–2025) · Consumer Cyclical · Specialty Retail
EV/EBITDA
↑
6.98
↑+456% vs avg
5yr avg: 1.26
30Y Low0.3·High2.4
P/FCF
↓
15.23
↑+130% vs avg
5yr avg: 6.63
30Y Low2.3·High18.3
P/B Ratio
↑
2.32
↑+318% vs avg
5yr avg: 0.56
30Y Low0.4·High0.9
ROE
↑
11.1%
↑-43% vs avg
5yr avg: 19.4%
30Y Low-45%·High28%
Debt/EBITDA
↑
2.70
↑+173% vs avg
5yr avg: 0.99
30Y Low0.3·High2.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MNSO Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
MINISO Group Holding Limited trades at 21.5x earnings, 226% above its 5-year average of 6.6x, sitting at the 100th percentile of its historical range. This is roughly in line with the Consumer Cyclical sector median P/E of 21.2x. On a free-cash-flow basis, the stock trades at 15.2x P/FCF, 130% above the 5-year average of 6.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.7B | $5.8B | $7.4B | $6.4B | $3.4B | $3.1B | $5.7B | — | — |
| Enterprise Value | $4.4B | $10.1B | $4.2B | $1.2B | $-2231716539 | $-1545471218 | $-206676253 | — | — |
| P/E Ratio → | 21.48 | 4.99 | 2.84 | 18.21 | 1.90 | 4.97 | — | — | — |
| P/S Ratio | 1.21 | 0.28 | 0.44 | 0.42 | 0.29 | 0.31 | 0.63 | — | — |
| P/B Ratio | 2.32 | 0.54 | 0.72 | 0.69 | 0.38 | 0.45 | 0.86 | — | — |
| P/FCF | 15.23 | 3.50 | 5.30 | 3.83 | 2.26 | 18.28 | 7.80 | — | — |
| P/OCF | 9.59 | 2.20 | 3.43 | 2.91 | 2.02 | 2.24 | 6.26 | — | — |
P/E links to full P/E history page with 30-year chart
MNSO EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
MINISO Group Holding Limited's enterprise value stands at 7.0x EBITDA, 456% above its 5-year average of 1.3x. The Consumer Cyclical sector median is 12.2x, placing the stock at a 43% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.48 | 0.25 | 0.08 | -0.19 | -0.15 | -0.02 | — | — |
| EV / EBITDA | 6.98 | 2.39 | 1.04 | 0.34 | -1.02 | -1.72 | -0.29 | — | — |
| EV / EBIT | 9.67 | 3.31 | 1.23 | 0.40 | -0.94 | -1.64 | — | — | — |
| EV / FCF | — | 6.11 | 3.01 | 0.73 | -1.50 | -8.98 | -0.28 | — | — |
MNSO Profitability
Margins and return-on-capital ratios measuring operating efficiency
MINISO Group Holding Limited earns an operating margin of 14.6%, above the Consumer Cyclical sector average of 2.0%. Operating margins have compressed from 20.0% to 14.6% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 11.1% is modest. ROIC of 20.6% represents excellent returns on invested capital versus a sector median of 5.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.0% | 45.0% | 44.9% | 42.5% | 38.7% | 30.4% | 26.8% | 30.4% | 26.7% |
| Operating Margin | 14.6% | 14.6% | 19.0% | 20.0% | 18.5% | 8.1% | 5.0% | 8.5% | 10.8% |
| Net Profit Margin | 5.6% | 5.6% | 15.4% | 16.4% | 15.4% | 6.3% | -15.6% | -2.9% | -3.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.1% | 11.1% | 26.8% | 27.6% | 22.2% | 9.3% | -44.7% | — | — |
| ROA | 5.0% | 5.0% | 16.1% | 17.9% | 14.3% | 5.8% | -17.1% | -4.7% | -5.6% |
| ROIC | 20.6% | 20.6% | 43.3% | 62.2% | 31.2% | 16.2% | 48.4% | — | — |
| ROCE | 18.7% | 18.7% | 28.7% | 31.0% | 24.9% | 11.1% | 9.3% | 34.0% | 51.3% |
MNSO Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
MINISO Group Holding Limited carries a Debt/EBITDA ratio of 2.7x, which is moderately leveraged (43% below the sector average of 4.8x). Net debt stands at $4.3B ($11.4B total debt minus $7.1B cash). Interest coverage of 7.3x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.06 | 1.06 | 0.30 | 0.14 | 0.10 | 0.09 | 0.12 | — | — |
| Debt / EBITDA | 2.70 | 2.70 | 0.76 | 0.35 | 0.41 | 0.73 | 1.14 | 0.98 | 0.42 |
| Net Debt / Equity | — | 0.40 | -0.31 | -0.56 | -0.63 | -0.67 | -0.89 | — | — |
| Net Debt / EBITDA | 1.02 | 1.02 | -0.79 | -1.43 | -2.57 | -5.21 | -8.25 | -1.77 | -0.86 |
| Debt / FCF | — | 2.61 | -2.29 | -3.10 | -3.75 | -27.26 | -8.08 | -2.38 | -1.13 |
| Interest Coverage | 7.28 | 7.28 | 266.48 | 428.40 | 68.40 | 28.15 | -41.88 | 3.58 | 12.46 |
MNSO Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.66x means MINISO Group Holding Limited can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.23x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 2.34x to 1.66x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.66 | 1.66 | 2.04 | 2.34 | 2.55 | 2.13 | 2.64 | 1.51 | 1.39 |
| Quick Ratio | 1.23 | 1.23 | 1.55 | 1.90 | 2.18 | 1.82 | 2.20 | 1.08 | 0.99 |
| Cash Ratio | 0.84 | 0.84 | 1.17 | 1.50 | 1.87 | 0.23 | 1.97 | 0.86 | 0.59 |
| Asset Turnover | — | 0.73 | 0.94 | 1.05 | 0.85 | 0.89 | 0.85 | 1.54 | 1.80 |
| Inventory Turnover | 3.11 | 3.11 | 3.40 | 4.45 | 4.85 | 5.91 | 4.33 | 4.48 | 5.26 |
| Days Sales Outstanding | — | 50.39 | 40.73 | 10.21 | 30.28 | 29.27 | 14.01 | 24.41 | 28.82 |
MNSO Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
MINISO Group Holding Limited returns 7.4% to shareholders annually — split between a 5.3% dividend yield and 2.1% buyback yield. The payout ratio exceeds 100% at 112.7%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 4.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.3% | 22.8% | 16.7% | 28.9% | 11.0% | 9.7% | — | — | — |
| Payout Ratio | 112.7% | 112.7% | 47.5% | 74.0% | 21.0% | 48.0% | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.7% | 20.1% | 35.2% | 5.5% | 52.6% | 20.1% | — | — | — |
| FCF Yield | 6.6% | 28.6% | 18.9% | 26.1% | 44.3% | 5.5% | 12.8% | — | — |
| Buyback Yield | 2.1% | 9.0% | 4.2% | 5.0% | 1.1% | 2.7% | 0.0% | — | — |
| Total Shareholder Yield | 7.4% | 31.8% | 20.9% | 34.0% | 12.1% | 12.5% | 0.0% | — | — |
| Shares Outstanding | — | $308M | $312M | $313M | $314M | $304M | $276M | $304M | $304M |
Peer Comparison
Compare MNSO with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MNSOYou | $4B | 21.5 | 7.0 | 15.2 | 45.0% | 14.6% | 11.1% | 20.6% | 2.7 |
 FIVE | $11B | 30.0 | 18.5 | 26.1 | 32.0% | 9.6% | 17.9% | 9.9% | 3.1 |
 DG | $25B | 16.6 | 12.2 | 10.5 | 30.7% | 5.2% | 19.0% | 7.0% | 4.8 |
 GO | $916M | -4.0 | — | 38.5 | 30.3% | -4.7% | -20.6% | -6.0% | — |
 WSM | $27B | 25.7 | 16.5 | 25.3 | 46.2% | 18.1% | 51.5% | 44.3% | 0.9 |
 BBBY | $429M | -4.2 | — | — | 24.7% | -5.9% | -44.5% | -91.0% | — |
 TJX | $181B | 33.6 | 22.4 | 36.9 | 31.0% | 11.9% | 59.1% | 32.3% | 1.6 |
 BURL | $21B | 35.4 | 20.6 | 123.6 | 43.9% | 7.3% | 38.4% | 10.3% | 4.8 |
 OLLI | $5B | 19.8 | 13.4 | 23.9 | 39.0% | 12.2% | 13.4% | 11.1% | 1.8 |
 BABA | $250B | 16.5 | 16.6 | — | 39.8% | 5.8% | 9.4% | 3.8% | 2.4 |
 JD | $38B | 14.5 | 18.6 | 53.2 | 9.3% | 0.2% | 6.5% | 0.8% | 9.3 |
| Consumer Cyclical Median | — | 21.2 | 12.2 | 15.6 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 8 years · Updated daily
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MNSO — Frequently Asked Questions
Quick answers to the most common questions about buying MNSO stock.
What is MINISO Group Holding Limited's P/E ratio?
MINISO Group Holding Limited's current P/E ratio is 21.5x. The historical average is 6.6x. This places it at the 100th percentile of its historical range.
What is MINISO Group Holding Limited's EV/EBITDA?
MINISO Group Holding Limited's current EV/EBITDA is 7.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.3x.
What is MINISO Group Holding Limited's ROE?
MINISO Group Holding Limited's return on equity (ROE) is 11.1%. The historical average is 8.7%.
Is MNSO stock overvalued?
Based on historical data, MINISO Group Holding Limited is trading at a P/E of 21.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is MINISO Group Holding Limited's dividend yield?
MINISO Group Holding Limited's current dividend yield is 5.30% with a payout ratio of 112.7%.
What are MINISO Group Holding Limited's profit margins?
MINISO Group Holding Limited has 45.0% gross margin and 14.6% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does MINISO Group Holding Limited have?
MINISO Group Holding Limited's Debt/EBITDA ratio is 2.7x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.