MINISO Group Holding Limited (MNSO) Revenue History
Annual and quarterly revenue from 2018 to present
MNSO Revenue Over Time (2018–2025)
MNSO Revenue Growth History
6 of 7 years with positive growth- FY2018 revenue growth
- N/A
- FY2019 revenue growth
- -4.4%
- FY2020 revenue growth
- +1.0%
- FY2021 revenue growth
- +11.2%
- FY2022 revenue growth
- +634.4%
- FY2023 revenue growth
- +33.0%
- FY2024 revenue growth
- +11.3%
- FY2025 revenue growth
- +22.7%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2025 | $4.97B | +23.1% |
| Q1 2025 | $4.43B | +18.9% |
| Q4 2024 | $4.71B | +22.7% |
| Q3 2024 | $4.52B | +19.3% |
| Q2 2024 | $4.04B | +24.1% |
| Q1 2024 | $3.72B | +26.0% |
| Q4 2023 | $3.84B | +54.0% |
| Q3 2023 | $3.79B | +36.7% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
MNSO's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
MNSO Revenue Analysis (2018–2025)
Current Revenue & Growth
As of June 24, 2026, MINISO Group Holding Limited (MNSO) generated trailing twelve-month (TTM) revenue of $18.63 billion, reflecting exceptional growth of +23.1% year-over-year. The most recent quarter (Q2 2025) recorded $4.97 billion in revenue, up 12.2% sequentially.
Historical Growth Trajectory
MNSO's 5-year compound annual growth rate (CAGR) stands at +18.1%, indicating consistent double-digit revenue growth. The 3-year CAGR of +22.1% exceeds the 5-year average, indicating an acceleration in the most recent period. MINISO Group Holding Limited's highest annual revenue of $20.86 billion was recorded in 2025, an all-time high.
Revenue by Segment
MNSO's revenue is primarily driven by - Product sales to franchisees (41%), - Retail sales in self-operated stores (25%), and - Sales to offline distributors (18%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Consumer Cyclical sector peers — including FIVE (+25.9% YoY), DG (+4.7% YoY), and GO (+6.0% YoY) — MNSO has outperformed the peer group in revenue growth. Compare MNSO vs FIVE →
MNSO Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| MNSOCurrent | $18.6B | +23.1% | +18.1% | 14.6% | |
 FIVE | $4.8B | +25.9% | +19.4% | 9.6% | |
 DG | $42.7B | +4.7% | +4.8% | 5.2% | |
 GO | $4.7B | +6.0% | +8.4% | -4.7% | |
 WSM | $7.8B | +1.3% | +2.9% | 18.1% | |
 BBBY | $1.0B | -14.8% | -16.0% | -5.9% |
MNSO Historical Revenue Data (2018–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $20.86B | +22.7% | $9.39B | 45.0% | $3.05B | 14.6% |
| 2024 | $16.99B | +11.3% | $7.64B | 44.9% | $3.22B | 19.0% |
| 2023 | $15.26B | +33.0% | $6.48B | 42.5% | $3.05B | 20.0% |
| 2022 | $11.47B | +634.4% | $4.44B | 38.7% | $2.12B | 18.5% |
| 2021 | $10.09B | +11.2% | $3.07B | 30.4% | $820.0M | 8.1% |
| 2020 | $9.07B | +1.0% | $2.43B | 26.8% | $455.6M | 5.0% |
| 2019 | $8.98B | -4.4% | $2.73B | 30.4% | $766.6M | 8.5% |
| 2018 | $9.39B | - | $2.51B | 26.7% | $1.02B | 10.8% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
8+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
MNSO — Frequently Asked Questions
Quick answers to the most common questions about buying MNSO stock.
Is MNSO's revenue growth accelerating or slowing?
MNSO revenue growth is accelerating. TTM revenue reached $18.6B, up +23.1% year-over-year — ahead of the 5-year CAGR of +18.1%. This indicates the business is expanding faster than its historical baseline.
What is MNSO's revenue history from 2018 to 2026?
MINISO Group Holding Limited (MNSO) revenue history spans 2018 to 2026. TTM revenue as of 2026 is $18.6B, growing at +23.1% YoY. The 5-year CAGR is +18.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is MNSO's long-term revenue growth rate (CAGR)?
MINISO Group Holding Limited's 5-year revenue CAGR of +18.1% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +23.1% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for MNSO.
Why does MNSO's quarterly revenue fluctuate?
MNSO quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. MINISO Group Holding Limited's revenue data from 2018 to 2026 shows full historical quarterly detail on this page.
How is MNSO's revenue distributed by segment?
MNSO reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does MNSO's revenue compare to industry peers?
MINISO Group Holding Limited (MNSO) with TTM revenue of $18.6B and +23.1% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.