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MINISO Group (MNSO) Fair Value & Analysis

Consumer Cyclical · US · Market cap $3.7B

MG MINISO Group logo MINISO Group MNSO · US
Price$12.55
Fair Value$13.72
Upside+9.3%
Quality55/100
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Healthy Growth
Thin margins · 9.0% net margin
Low debt · generates free cash flow
5.58% dividend yield
Ranks above peers (10/11)
Moderate moat 60/100
Evidence: High Range $7.28 – $17.84 Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from $13.68 to $13.72 (+0.3%) since Jun 24, 2026. Share price +6.3% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range ($7.28 to $17.84) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

$27.14 $4.06 Fair Value $13.72 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range $4.06 – $27.14 · fair‑value band $7.28 – $17.84 · the $12.55 price screens below the $13.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

MINISO Group (MNSO) currently trades at $12.55, while our model-based Fair Value estimate is $13.72, implying the stock looks roughly 9.3% fairly valued today. The Quality Score stands at 55/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, MINISO Group generated revenue of $22.7B at a net margin of 9.0%. Revenue grew 28.5% year over year. It earns a return on equity of 18.8%. Net debt stands at $4.3B. Fundamentals as of Jul 17, 2026

Our scenario range runs from $7.28 (bear case) to $17.84 (bull case); at $12.55, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 51% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -24% fair-value upside, at 9%, MNSO screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $94.77 $162.79 $265.50 80
Residual Income $31.45 $35.13 $51.54 76
Rev-Margin DCF $86.67 $138.90 $211.64 74
All 26 models by family
DCF Models
FCF DCF $96.87 $156.97 $301.45 38
Owner Earnings $84.54 $144.44 $254.81 31
5Y Revenue Exit $86.67 $140.98 $217.91 39
5Y EBITDA Exit $127.92 $232.24 $371.36 41
5Y P/E Exit $87.89 $143.67 $210.93 38
10Y Revenue Exit $87.38 $141.18 $230.89 36
10Y EBITDA Exit $116.99 $209.30 $365.51 37
10Y P/E Exit $90.26 $143.19 $224.76 35
Earnings-Based
Graham-Dodd $26.31 $152.70 $212.48 54
Lynch FV $43.15 $61.64 $80.13 50
PEG = 1.0 $43.15 $61.64 $80.13 46
EPV $94.40 $105.61 $115.28 59
Dividend Discount
Gordon GGM $38.29 $76.30 $115.54 70
DDM Multi-Stage $38.29 $65.94 $80.54 61
Multiples
P/E Multiple $63.85 $85.13 $106.41 63
P/S Multiple $49.34 $65.78 $82.23 58
P/B Multiple $49.34 $65.78 $82.23 55
EV/EBIT $159.33 $204.64 $249.95 53
EV/EBITDA $148.88 $190.71 $232.54 54
EV/Revenue $81.24 $106.03 $130.82 43
Asset-Based
NCAV (Graham) $17.54 $23.50 $35.08 50
Growth DCF
Growth DCF $94.77 $162.79 $265.50 80
Rev-Margin DCF $86.67 $138.90 $211.64 74
Economic Profit
Residual Income $31.45 $35.13 $51.54 76
ROIC Compounder $101.65 $122.90 $147.75 72
Growth Earnings
Growth-Adj P/E $65.09 $92.98 $120.88 68

Widest divergence: DCF Models ($143.67) versus Asset-Based ($23.50). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $22.7B
Revenue growth (YoY) +28.5%
Net margin 9.0%
Return on equity 18.8%
Free cash flow $1.7B FY2025
P/E ratio 11.6
More key figures
Operating margin 26.8%
EPS (TTM) $1.03
Dividend yield 5.6%
EPS growth (YoY) +200%
Net debt $4.3B FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 56 · Market factors (momentum, volatility) 27

Profitability 45
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 85
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of design-led lifestyle and pop toy products in Mainland China, the rest of Asia, North and Latin America, Europe, and internationally.

Full company description

MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of design-led lifestyle and pop toy products in Mainland China, the rest of Asia, North and Latin America, Europe, and internationally. 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 brand; and blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji, and other popular toys under the TOP TOY brand. It also engages in brand licensing activity; and online sale of lifestyle products. MINISO Group Holding Limited was founded in 2013 and is based in Guangzhou, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MINISO Group reported revenue of $20.9B in FY2025 versus $9.1B in FY2021, a compound +23.1%/yr. Reported net income was $1.2B in FY2025.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$20.9B
Latest YoY
+22.7%
Avg. growth/yr (3Y)
+27.4%
Avg. growth/yr (5Y)
+18.1%
Avg. growth/yr (7Y)
+12.1%
Revenue +23.1%/yr
FY21 $9.1B
FY22 $10.1B
FY23 $15.3B
FY24 $17.0B
FY25 $20.9B
Net income
FY21 −$1.4B
FY22 $638M
FY23 $2.5B
FY24 $2.6B
FY25 $1.2B

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Cite: Fair Value Calculator (2026). "MINISO Group Fair Value". https://www.fairvalue-calculator.com/stock/MNSO

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Specialty Retail · 221 stocks

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.

Quality Score 55 · Below median
Fair Value upside +9% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 9% · Top 25%
Operating margin (TTM) 27% · Top 25%
Revenue growth 29% · Top 25%
Dividend yield (TTM) 5.6% · Top 25%

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/E (TTM) 11.6× · Cheaper than median
P/FCF 2.3× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 46 · sector 31
FUTURE 100 · sector 23
PAST 75 · sector 27
HEALTH 100 · sector 94
DIVIDEND 100 · sector 51

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Retail stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Casey's General Stores, Inc CASY $827.04 $405.44 -51%
Williams-Sonoma, Inc WSM $222.84 $164.16 -26%
Ulta Beauty, Inc ULTA $479.57 $488.39 +2%
DICK'S Sporting Goods, Inc DKS $208.89 $181.10 -13%
Best Buy Co BBY $83.98 $109.12 +30%
China Tourism Group 601888 ¥52.90 ¥40.40 -24%
Tractor Supply Company TSCO $31.01 $35.52 +15%
Murphy USA Inc MUSA $618.57 $423.35 -32%
Five Below, Inc FIVE $197.71 $117.29 -41%
Taiwan Mobile Co 3045 110.50 TWD 80.98 TWD -27%

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Frequently asked questions

Is MINISO Group (MNSO) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of $13.72 versus a price of $12.55, about +9% (fairly valued).
What is the fair value of MNSO?
Our model-based fair value for MINISO Group is $13.72 (as of Jul 17, 2026), built from audited fundamentals. The current price is $12.55.
What is the quality score of MNSO?
MINISO Group has a Quality Score of 55/100. 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 revenue of MINISO Group (MNSO)?
MINISO Group reported trailing-twelve-month revenue of about $22.7B (latest available figure, as of Jul 17, 2026).
What is the net profit margin of MNSO?
The net profit margin of MINISO Group is about 9.0%, meaning it keeps roughly 9.0% of revenue as net income. Based on the latest reported figures.
Does MINISO Group pay a dividend?
MINISO Group currently shows a dividend yield of about 5.58% relative to its recent price (as of Jul 17, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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