Minor International PCL (MNILY) fair value: what the stock is really worth
As of Sep 18, 2026: fair value of Minor International PCL $28.71, price $16.27, upside +76.5%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.
How to read this chart
60‑month range $11.84 – $29.97 · fair‑value band $20.10 – $37.33 · the $16.27 price screens below the $28.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Sep 24, 2026.
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Minor International Public Company Limited, together with its subsidiaries, operates as a hospitality, restaurant, and lifestyle company in Thailand, Australia, New Zealand, Europe, Latin America, Maldives, the Middle East, the People's Republic of China, and internationally.
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Minor International Public Company Limited, together with its subsidiaries, operates as a hospitality, restaurant, and lifestyle company in Thailand, Australia, New Zealand, Europe, Latin America, Maldives, the Middle East, the People's Republic of China, and internationally. The company operates through three segments: Hotel, Mixed use and others, and Restaurant. The company operates hotels and restaurants, entertainment venues, food and beverage outlets, property rental business, spa services, and management operations, as well as real estates for sales, distribution, and manufacturing. In addition, the company is involved in the food and beverage sale, hotel management, supply chain management, distribution, management, vacation club point sale, entertainment, franchise, airport lounge, and healthcare businesses; property investment, development, and sales activities; operation of shopping mall and school; and manufacture and sale of cheese and ice-cream. The company was formerly known as Royal Garden Resorts Plc. and changed its name to Minor International Public Company Limited in 2005. Minor International Public Company Limited was founded in 1978 and is headquartered in Bangkok, Thailand.
Stock analysis
Minor International PCL ADR (MNILY) currently trades at $16.27, while our model-based Fair Value estimate is $28.71, implying the stock looks roughly 43.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $38.68 per share, and 19 of the 26 models we run sit above the $16.27 price.
Bear case: the Asset-Based group reads lowest at $5.24, and 7 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $20.10 (bear) to $37.33 (bull), the price of $16.27 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 50/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Minor International PCL ADR reported revenue of 154B THB in FY2025 versus 69.5B THB in FY2021, a compound +22.0%/yr. Reported net income was 9.0B THB in FY2025.
Key figures
Market cap $3.7B · P/E ratio 15.8 · P/S ratio 0.92 · EPS (TTM) $1.03 · Dividend yield 4.3% · Net margin 5.9% · Return on equity 10.2% · Return on assets (EBIT) 2.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (medium confidence).
What moves the price
For context, the median of 10 Consumer Cyclical peers we cover trades at −32% fair-value upside, at 76%, MNILY screens cheaper than that median.
Fair Value models
Bear $20.10Fair Value $28.71Bull $37.33
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.2414 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.4%
Start year 2020 (pandemic). Over 10 years: +13.8% a year
Revenue growth 22 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.2%
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What shareholders gained per year (last 5 years), in THB (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+30.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+26.1%
Dividend (yield on the price)4.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−5% vs 1%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−44% → 11%
2025 sits 61% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+0.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in THB, Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about −0.8% a year for the price and +4.0% for the forecasts.
Compare Minor International PCL ADR with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Lodging · 167 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside+83% · Top 25%
Profitability
Return on equity (TTM)10% · Top 25%
Return on assets3% · Above median
Net margin (TTM)6% · Below median
Operating margin (TTM)9% · Below median
Growth and dividend
Revenue growth3% · Below median
Dividend yield (TTM)4.3% · Top 25%
Balance sheet
Debt / equity1.46× · Highest 25%
Valuation Multiplesvs Lodging median · lower = cheaper
P/E (TTM)15.8× · Cheaper than median
P/B2.11× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Minor International PCL ADR Fair Value". https://www.fairvalue-calculator.com/stock/MNILY
Frequently asked questions
Is Minor International PCL (MNILY) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $28.71 versus a price of $16.27, about +76% upside (undervalued).
What is the fair value of MNILY?
Our model-based fair value for Minor International PCL ADR is $28.71 (as of Sep 24, 2026), built from audited fundamentals. The current price: $16.27.
What is the quality score of MNILY?
Minor International PCL ADR has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Minor International PCL (MNILY)?
Our model-based price target is the fair value of $28.71 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario $20.10, optimistic scenario $37.33. It is a calculation from audited fundamentals, not an analyst target.
What is the Minor International PCL ADR stock forecast for 2026?
Our models put fair value at $28.71, about +76% upside versus a price of $16.27 (undervalued). Cautious scenario $20.10, optimistic scenario $37.33. The calculation is refreshed regularly with new filings.
What is the revenue of Minor International PCL (MNILY)?
Minor International PCL ADR reported trailing-twelve-month revenue of about 166B THB (latest available figure, as of Sep 24, 2026).
Does Minor International PCL ADR pay a dividend?
Minor International PCL ADR currently shows a dividend yield of about 4.30% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Minor International PCL (MNILY)?
For today's price to be fair in a discounted-cash-flow model, Minor International PCL ADR would have to grow free cash flow by +0.4 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +22.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of MNILY use?
Our models discount Minor International PCL ADR at 8.5 %: a base by market capitalisation (mid), damped by beta 0.44, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Minor International PCL ADR that is +0.4 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has Minor International PCL (MNILY) delivered so far?
Over the past 5 years revenue at Minor International PCL ADR grew +22.4 % a year. The price currently implies +0.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Minor International PCL (MNILY) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Minor International PCL ADR (+0.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Minor International PCL (MNILY)?
The free-cash-flow yield on the price is 11.85 %: that much free cash flow Minor International PCL ADR produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Minor International PCL (MNILY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Minor International PCL ADR it is $28.71 per share (as of Sep 24, 2026), against a price of $16.27. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Minor International PCL ADR stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MNILY trades below its calculated fair value: price $16.27, fair value $28.71, a gap of about +76% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MNILY?
No. The price is what the market pays today ($16.27); the fair value is what the company's own numbers justify ($28.71). For Minor International PCL ADR the two are $12.44 per share apart. That gap is exactly why we show both numbers side by side.
How much is Minor International PCL ADR worth?
The market values Minor International PCL ADR at about $3.7B (market capitalisation, as of Sep 24, 2026). Per share that is $16.27; our models calculate a fair value of $28.71 per share.
What do the bullish and bearish scenarios say about MNILY?
Our models span a range for Minor International PCL ADR: cautious scenario $20.10, base $28.71, optimistic $37.33 per share (as of Sep 24, 2026, price $16.27). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MNILY?
Minor International PCL ADR trades at a price-to-earnings ratio of 15.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $28.71 is built from several models across several years. Other multiples: PEG 0.7, P/B 2.1, P/S 0.7, EV/EBITDA 7.2.
What is the PEG ratio of MNILY?
The PEG ratio of Minor International PCL ADR is 0.73 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Minor International PCL (MNILY)?
Balance-sheet figures for Minor International PCL ADR (as of Sep 24, 2026): return on equity 10.2%, debt of 1.46 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
Which stocks are comparable to Minor International PCL ADR?
From the same area (Consumer Cyclical) we also value Marriott International, Inc, Hilton Worldwide Holdings, InterContinental Hotels Group, Hyatt Hotels Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Minor International PCL ADR stock attractive at the current price?
The data as of Sep 24, 2026: price $16.27, calculated fair value $28.71 (+76%), Quality Score 50/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MNILY calculated?
We run Minor International PCL ADR through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $28.71, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Minor International PCL ADR currently trades 76 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Minor International PCL (MNILY)?
The closing price on Sep 18, 2026 was $16.27. Our model-based fair value is $28.71, about +76% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Minor International PCL ADR right now?
The price is below even our cautious bear case ($20.10). The market is more pessimistic than our downside scenario. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($20.10 to $37.33) leaves room in how you read the outcome.
Where does the earnings growth of Minor International PCL (MNILY) come from?
Earnings per share at Minor International PCL ADR grew −0.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +12.3 %, EBIT margin −5.0 %, tax rate −2.8 %, residual (interest, one-offs) −3.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Minor International PCL ADR
How large is the market capitalisation of Minor International PCL (MNILY)?
The market capitalisation of Minor International PCL ADR is $3.7B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Minor International PCL (MNILY)?
The price-to-sales ratio of Minor International PCL ADR is 0.92 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Minor International PCL (MNILY)?
Earnings per share at Minor International PCL ADR are $1.03 (price ÷ EPS = P/E 15.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Minor International PCL (MNILY)?
The dividend yield of Minor International PCL ADR is 4.3% (payout 68.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Minor International PCL (MNILY)?
The net margin of Minor International PCL ADR is 5.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Minor International PCL (MNILY)?
The return on equity (ROE) of Minor International PCL ADR is 10.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Minor International PCL (MNILY)?
On an EBIT basis the return on assets of Minor International PCL ADR is 2.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Minor International PCL (MNILY)?
The operating margin of Minor International PCL ADR is 8.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Minor International PCL (MNILY)?
Revenue at Minor International PCL ADR is growing +2.6% versus a year earlier (3y avg +8.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Minor International PCL (MNILY)?
Earnings per share at Minor International PCL ADR are growing +188% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Minor International PCL (MNILY) carry?
The net debt of Minor International PCL ADR is 207B THB (fiscal year 2025, ≈ 14.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Sep 24, 2026