| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 90 | 15.6x | 17.8x | Top tier | |
Growth | 93 | 23.0% | 7.1% | Top tier | |
Quality | 75 | 11.7% | 4.5% | Top tier | |
Safety | 74 | 0.1x | 2.6x | Top tier | |
Capital Return | 97 | — | 2.12% | Top tier | |
Momentum | 1 | -51.7% | 2.9% | Bottom tier | |
Sentiment | 61 | 7 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
MINISO Group Holding Limited operates a global network retailing affordable consumer products, with a growing focus on intellectual property-related merchandise, designer toys, and lifestyle products. Its business is divided among MINISO China, MINISO Overseas, and TOP TOY, and it generates revenue through directly operated stores, franchises, and distributors; the franchise and distribution businesses have higher margins, while directly operated overseas stores require greater investment in rent, labor, and operations. The group had 8,674 stores at the end of the first half of fiscal year 2026, including 4,665 MINISO stores in China and 3,644 outside China, while TOP TOY had 365 stores globally, including 48 outside China.
In the interim results announced with quarter 2 of fiscal year 2026 on August 28, 2026, group revenue rose 22.4% to 11.5 billion yuan, diluted earnings per share increased 8.2%, and operating cash flow rose 45.5% to 1.48 billion yuan. Gross margin was 44.3% in the first half, stable year over year, and the quarter 2 fiscal year 2026 margin increased by one percentage point to 45.3%, but a U.S. tariff refund added 0.6 percentage points to the first-half margin and 1.2 points to the quarterly margin. Adjusted operating profit declined 6% to 1.49 billion yuan, while it rose 5% to 1.63 billion yuan excluding currency effects, and currency-neutral adjusted net profit declined 1.7% to 1.22 billion yuan.
MINISO China led performance with revenue growth of 26.2% in the first half of fiscal year 2026, with comparable-store sales growth in the mid-single-digit range and a net addition of 97 stores. MINISO Overseas revenue reached approximately 4.06 billion yuan, North America recorded growth of 37% to nearly 1.8 billion yuan, while TOP TOY revenue grew 32.7%. On an annual basis, the provided EDGAR data showed fiscal year 2024 revenue rising to $17.0 billion from $11.5 billion in fiscal year 2023, with gross profit of $7.6 billion, net income of $2.6 billion, and earnings per share of 2.10 in fiscal year 2024.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is Buy with an average target of $10.80, but the highest and lowest targets are identical at $10.80, meaning the provided data do not present a diverse range of estimates. This target is approximately 17% above the bottom of the 52-week range of $9.21, but approximately 58% below the peak of $25.92; this gap reflects a revaluation associated with margin contraction, a decline in the overseas contribution to profit, and the expected decline in adjusted operating profit in fiscal year 2026.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
Group revenue rose 22.4% to 11.5 billion yuan, driven by MINISO China growth of 26.2% and the expansion of larger stores and intellectual property-related products. The company added 769 stores compared with the previous year, bringing the total to 8,674 stores, and completed 189 renovations in China. YOYO contributed approximately 500 million yuan in revenue, while diluted earnings per share rose 8.2% and operating cash flow increased 45.5%.
Adjusted net profit margin declined 2.6 percentage points in the first half of fiscal year 2026, and the selling expense ratio increased 2.7 points. Rent and depreciation expenses for directly operated stores increased from 7.1% to 8.1% of revenue, intellectual property licensing fees rose from 2.6% to 3.1%, and selling labor costs increased from 6.8% to 7.2%. This coincided with a six-percentage-point decline in the share of the high-margin franchise and distribution businesses and a three-point increase in the share of less profitable directly operated overseas stores.
The group achieved its annual target of one billion yuan in owned intellectual property sales by the end of July 2026, ahead of schedule. YOYO entered 53 countries and generated nearly 500 million yuan in the first half of fiscal year 2026, then exceeded 100 million yuan in sales in each of June and July. The cumulative merchandise value of Nommi at TOP TOY also exceeded 300 million yuan, and owned intellectual property accounted for 10% of TOP TOY sales.
Distributor revenue declined 10% in the first half of fiscal year 2026, while the overseas contribution to group profit fell to 10%–15% from 35%–40% in 2023. Overseas inventory turnover days rose to 273 days from 240 days, and some directly operated markets remain in the investment stage and unprofitable. The company therefore plans net closures of between 50 and 70 overseas stores in the second half, with a net reduction of between 100 and 110 distributor stores and the addition of only 40 to 50 directly operated stores.
Revenue grew 37% to nearly 1.8 billion yuan, and comparable-store sales achieved mid-single-digit growth. Quarter 2 fiscal year 2026 revenue growth slowed to 25% because of a gap in intellectual property releases and stockouts of some best-selling products, despite the two-year compound annual growth rate remaining near 50%. Management is targeting revenue of approximately 4 billion yuan and a net margin of 10% for fiscal year 2026, while slowing openings and focusing on the efficiency of existing stores.
The company returned 1.31 billion yuan to shareholders in the first half of fiscal year 2026 through dividends and share repurchases, with repurchases accounting for 520 million yuan of the total. Founder Ye Guofu added personal purchases of approximately 54 million yuan during the same period, while the provided net insider activity amounted to one million dollars through the latest transaction on June 1, 2026. The annual policy calls for returning at least 50% of currency-neutral adjusted net profit through repurchases and dividends.
