National Vision Holdings vs Miniso Group Holding
Miniso Group Holding is the larger business, with $2.98bn of revenue in fiscal 2025 against $1.99bn for National Vision Holdings (1.5 times as much). Miniso Group Holding grew faster (26.3% against 9.0%). Miniso Group Holding kept more of each dollar of sales as profit: a net margin of 5.6% against 1.5%. National Vision Holdings carries less debt relative to equity (28.3% against 67.5%).
| Latest fiscal year | National Vision HoldingsEYE, 2025 | Miniso Group HoldingMNSO, 2025 |
|---|---|---|
| Revenue | $1.99bn | $2.98bn |
| Revenue growth | 9.0% | 26.3% |
| Net income | $29.6m | $168m |
| Operating margin | 3.0% | 15.4% |
| Net margin | 1.5% | 5.6% |
| Return on equity | 3.5% | 11.4% |
| Free cash flow | $73.5m | — |
| Cash | $38.7m | $975m |
| Total debt | $246m | $1.02bn |
| Debt to equity | 28.3% | 67.5% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $3.2m | $74.5m |
| Employees | 13,138 | — |
| Market value | $1.32bn | $3.15bn |
| Price vs our value range | Above our value range | Below our value range |
| Moat score | 34 (Weak) | — |
| Insider trades, 12 months | 1 buys, 3 sales | 7 buys, 0 sales |