SET:MINT

Stock Analysis Report

Executive Summary

Minor International Public Company Limited, together with its subsidiaries, operates as a hospitality and leisure company in Thailand and internationally.


Snowflake Analysis

Good value with acceptable track record.


Similar Companies

Share Price & News

How has Minor International's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MINT's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0%

MINT

4.3%

TH Hospitality

3.0%

TH Market


1 Year Return

-57.4%

MINT

-47.6%

TH Hospitality

-31.0%

TH Market

Return vs Industry: MINT underperformed the TH Hospitality industry which returned -48.5% over the past year.

Return vs Market: MINT underperformed the TH Market which returned -32% over the past year.


Shareholder returns

MINTIndustryMarket
7 Day0%4.3%3.0%
30 Day-44.1%-29.8%-17.8%
90 Day-54.4%-39.8%-28.7%
1 Year-56.9%-57.4%-46.4%-47.6%-28.5%-31.0%
3 Year-55.5%-56.8%-42.8%-45.7%-24.5%-31.4%
5 Year-47.1%-49.4%-39.0%-43.6%-20.3%-32.0%

Price Volatility Vs. Market

How volatile is Minor International's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Minor International undervalued compared to its fair value and its price relative to the market?

21.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MINT (฿16.5) is trading below our estimate of fair value (฿20.51)

Significantly Below Fair Value: MINT is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MINT is good value based on its PE Ratio (8.1x) compared to the Hospitality industry average (16.9x).

PE vs Market: MINT is good value based on its PE Ratio (8.1x) compared to the TH market (11.3x).


Price to Earnings Growth Ratio

PEG Ratio: MINT's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: MINT is good value based on its PB Ratio (1x) compared to the TH Hospitality industry average (1.3x).


Next Steps

Future Growth

How is Minor International forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

-12.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MINT's earnings are forecast to decline over the next 3 years (-12% per year).

Earnings vs Market: MINT's earnings are forecast to decline over the next 3 years (-12% per year).

High Growth Earnings: MINT's earnings are forecast to decline over the next 3 years.

Revenue vs Market: MINT's revenue (1.6% per year) is forecast to grow slower than the TH market (7% per year).

High Growth Revenue: MINT's revenue (1.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MINT's Return on Equity is forecast to be low in 3 years time (8.2%).


Next Steps

Past Performance

How has Minor International performed over the past 5 years?

-0.006%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MINT has a large one-off gain of ฿6.1B impacting its December 31 2019 financial results.

Growing Profit Margin: MINT's current net profit margins (7.7%) are higher than last year (5.6%).


Past Earnings Growth Analysis

Earnings Trend: MINT's earnings have declined by -0.01% per year over the past 5 years.

Accelerating Growth: MINT's earnings growth over the past year (119%) exceeds its 5-year average (-0.01% per year).

Earnings vs Industry: MINT earnings growth over the past year (119%) exceeded the Hospitality industry 2.5%.


Return on Equity

High ROE: MINT's Return on Equity (12.8%) is considered low.


Next Steps

Financial Health

How is Minor International's financial position?


Financial Position Analysis

Short Term Liabilities: MINT's short term assets (฿38.6B) exceed its short term liabilities (฿35.6B).

Long Term Liabilities: MINT's short term assets (฿38.6B) do not cover its long term liabilities (฿132.7B).


Debt to Equity History and Analysis

Debt Level: MINT's debt to equity ratio (130.8%) is considered high.

Reducing Debt: MINT's debt to equity ratio has increased from 113.4% to 130.8% over the past 5 years.

Debt Coverage: MINT's debt is not well covered by operating cash flow (13.1%).

Interest Coverage: MINT's interest payments on its debt are not well covered by EBIT (2.6x coverage).


Balance Sheet

Inventory Level: MINT has a high level of physical assets or inventory.

Debt Coverage by Assets: MINT's debt is not covered by short term assets (assets are 0.3x debt).


Next Steps

Dividend

What is Minor International's current dividend yield, its reliability and sustainability?

3.09%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: MINT's dividend (3.03%) isn’t notable compared to the bottom 25% of dividend payers in the TH market (3.34%).

High Dividend: MINT's dividend (3.03%) is low compared to the top 25% of dividend payers in the TH market (8.84%).


Stability and Growth of Payments

Stable Dividend: MINT's dividend payments have been volatile in the past 10 years.

Growing Dividend: MINT's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (24.5%), MINT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MINT's dividends in 3 years are forecast to be well covered by earnings (38.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.0yrs

Average management tenure


CEO

Dillip Dillipraj Rajakarier (54yo)

0.25

Tenure

฿720,000

Compensation

Mr. Emmanuel Jude Dillipraj Rajakarier, also known as Dillip, has been Group Chief Executive Officer of Minor International Public Company Limited since January 1, 2020 and serves as its Chief Operating Of ...


Leadership Team

NamePositionTenureCompensationOwnership
Emmanuel Jude Dillipraj Rajakarier
Group CEO0.25yr฿720.00k0.20% ฿147.4m
Brian Delaney
Corporate Chief Financial Officer4yrsno data0.0041% ฿3.1m
Kosin Chantikul
Senior Vice President of Investment & Acquisitions4.83yrsno data0.0022% ฿1.7m
Somsri Ruchdaponkul
Vice President of Corporate Finance & Corporate Secretaryno datano data0.011% ฿8.5m
Steve Herndon
Chief Information Officerno datano datano data
Jutatip Adulbhan
Vice President of Investor Relations4.08yrsno data0.0026% ฿1.9m
Namida Artispong
Investor Relations Directorno datano datano data
Stephen Chojnacki
Chief Commercial Officer & General Counselno datano datano data
Kulshaan Singh
Chief People Officer0.50yrno datano data
Chaiyapat Paitoon
Deputy Corporate Chief Financial Officer & Strategic Planning4yrsno data0.012% ฿9.0m

4.0yrs

Average Tenure

47yo

Average Age

Experienced Management: MINT's management team is considered experienced (4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Emmanuel Jude Dillipraj Rajakarier
Group CEO0.25yr฿720.00k0.20% ฿147.4m
Anil Thadani
Director21.83yrs฿1.23m1.29% ฿962.5m
Khunying Wattanasiritham
Independent Director12yrs฿2.19mno data
Charamporn Jotikasthira
Independent Director3yrs฿1.90mno data
Paul Kenny
Director23yrs฿200.00k0.22% ฿165.2m
William Heinecke
Chairman41.58yrs฿380.00k3.23% ฿2.4b
Thiraphong Chansiri
Director6.67yrs฿1.18m0.00031% ฿232.0k
John Heinecke
Director6.42yrs฿200.00k0.069% ฿51.3m
Suvabha Charoenying
Independent Director4.25yrsno datano data
Edward Hubennette
Independent Director2yrs฿1.00mno data

9.0yrs

Average Tenure

62yo

Average Age

Experienced Board: MINT's board of directors are considered experienced (9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Minor International Public Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Minor International Public Company Limited
  • Ticker: MINT
  • Exchange: SET
  • Founded: 1978
  • Industry: Hotels, Resorts and Cruise Lines
  • Sector: Consumer Services
  • Market Cap: ฿74.828b
  • Shares outstanding: 4.62b
  • Website: https://www.minor.com

Number of Employees


Location

  • Minor International Public Company Limited
  • Berli Jucker House
  • 16th Floor
  • Bangkok
  • 10110
  • Thailand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MINTSET (The Stock Exchange of Thailand)YesOrdinary SharesTHTHBJan 1992
MINO.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
MNRI.FOTCPK (Pink Sheets LLC)PCL (FO SHSUSUSDOct 1995
MINT-FTHAMSE (Bangkok-Alien Market Stock Exchange)PCL (FO SHSTHTHBOct 1995
MINT-RSET (The Stock Exchange of Thailand)THB1(NVDR)THTHBAug 2001
MNIL.YOTCPK (Pink Sheets LLC)ADRUSUSDMay 2012

Biography

Minor International Public Company Limited, together with its subsidiaries, operates as a hospitality and leisure company in Thailand and internationally. It operates in four segments: Hotel & Spa, Mixed use, Restaurant, and Retail. As of February 26, 2019, the company had approximately 2,200 restaurant outlets in approximately 27 countries under The Pizza Company, Swensen’s, Sizzler, Dairy Queen, Burger King, Thai Express, The Coffee Club, Riverside, and Benihana brands. It also invested in, owned, and operated a portfolio of 513 hotels and serviced suites under the Anantara, AVANI, Oaks, Tivoli, NH Collection, NH Hotels, nhow, Elewana, Marriott, Four Seasons, St. Regis, Radisson Blu, and Minor International brands in 53 countries across the Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe, South America, and North America. In addition, the company distributes fashion and lifestyle products under the Anello, Bodum, Bossini, Brooks Brothers, Charles & Keith, Esprit, Etam, Joseph Joseph, OVS, Radley, Save My Bag, Zwilling J.A. Henckels and Minor Smart Kids brands through approximately 450 points of sale; and provides online shopping, as well as offers contract manufacturing services. Further, it is involved in the entertainment venues and property rental and sale, food and beverage sale, supply chain management, spa, vacation club point sale, distribution, management, catering service, franchise, consulting, sales and marketing, real estate, travel agency, asset management, accommodation, property development, corporate service, and procurement network businesses; 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 based in Bangkok, Thailand. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/03 14:30
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.