Miniso Group Holding Ltd key statistics and ratios

In fiscal 2025, Miniso Group Holding Ltd had return on equity of 11.4%, an operating margin of 15.4%, debt equal to 67.5% of equity and a current ratio of 1.66. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Miniso Group Holding Ltd: financial ratios, annual
Fiscal year	2019Jun 2019	2020Jun 2020	2021Jun 2021	2022Jun 2022	2023Jun 2023	2024Dec 2024	2025Dec 2025
Gross margin	26.7%	30.4%	26.8%	30.4%	38.7%	44.9%	45.0%
Operating margin	10.8%	8.5%	4.4%	8.7%	19.4%	19.5%	15.4%
Net margin	−3.1%	−2.9%	−15.6%	6.3%	15.4%	15.4%	5.6%
Return on equity	—	—	−43.5%	9.5%	22.4%	27.6%	11.4%
Return on assets	—	−4.5%	−17.2%	5.9%	14.4%	16.8%	5.1%
Asset turnover	—	1.55	1.10	0.94	0.93	1.09	0.91
Current ratio	—	1.51	2.64	2.13	2.55	2.04	1.66
Debt to equity	—	—	0.3%	0.1%	0.1%	5.6%	67.5%
Interest cover (operating income ÷ interest)	40.3x	24.5x	14.1x	26.4x	64.2x	35.7x	13.8x
Effective tax rate	96.7%	—	—	29.5%	23.6%	21.3%	36.8%
Dividends ÷ net income	—	—	—	48.0%	21.0%	—	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 7 checks passed · December 31, 2025

What it owns · $4.1bn

Short-term assets $2.0bnLonger-term assets $2.1bn

What it owes, and who funded it · $4.1bn

Short-term liabilities $1.2bnLonger-term liabilities $1.4bnShareholders' equity $1.5bn

Short-term assets cover short-term liabilities $2.0bn of assets due within a year against $1.2bn of liabilities due within a year.
Short-term assets cover long-term liabilities $2.0bn short-term assets against $1.4bn of longer-dated liabilities.
More cash than debt $975m of cash against $1.0bn of debt.
Debt below 40% of shareholders' equity Debt is 67% of equity.
Debt burden no higher than five years ago Debt to equity moved from 0% to 67% over five years.
A year's operating cash flow covers at least 20% of debt $359m of operating cash flow against $1.0bn of debt.
Operating profit covers interest at least five times over Operating income of $460m against $33m of interest.

From Miniso Group Holding Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: MNSO vs SBH HZO vs MNSO EYE vs MNSO

More: Other Specialty Retail stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Miniso Group Holding Ltd's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Miniso Group Holding Ltd.