Minor International Future Growth

Future criteria checks 3/6

Minor International is forecast to grow earnings and revenue by 32.7% and 1.8% per annum respectively. EPS is expected to grow by 32.9% per annum. Return on equity is forecast to be 10.9% in 3 years.

Key information

32.7%

Earnings growth rate

32.9%

EPS growth rate

Hospitality earnings growth	22.6%
Revenue growth rate	1.8%
Future return on equity	10.9%
Analyst coverage	Good
Last updated	22 Nov 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

SET:MINT - Analysts future estimates and past financials data (THB Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	177,198	10,298	25,953	34,639	16
12/31/2025	169,452	9,182	25,138	32,114	16
12/31/2024	161,516	7,887	21,991	30,009	16
9/30/2024	162,878	3,278	27,288	37,230	N/A
6/30/2024	161,106	5,272	25,437	34,598	N/A
3/31/2024	157,391	5,717	28,397	37,664	N/A
12/31/2023	152,434	3,582	29,241	38,017	N/A
9/30/2023	147,555	5,937	26,488	34,642	N/A
6/30/2023	143,453	8,070	30,065	37,290	N/A
3/31/2023	135,722	5,571	27,287	32,832	N/A
12/31/2022	123,978	2,828	25,120	30,139	N/A
9/30/2022	111,069	-616	25,320	30,467	N/A
6/30/2022	96,119	-5,707	17,619	22,602	N/A
3/31/2022	79,102	-11,225	14,910	19,884	N/A
12/31/2021	70,639	-14,713	13,076	18,144	N/A
9/30/2021	62,859	-18,764	5,561	9,344	N/A
6/30/2021	57,124	-23,952	1,928	6,105	N/A
3/31/2021	48,324	-28,409	-7,318	-2,230	N/A
12/31/2020	58,246	-22,868	-9,224	-2,500	N/A
9/30/2020	77,466	-13,423	-7,390	2,590	N/A
6/30/2020	96,715	-3,189	-5,679	6,030	N/A
3/31/2020	116,287	7,051	-52	13,516	N/A
12/31/2019	122,321	9,409	313	14,766	N/A
9/30/2019	120,678	6,298	294	15,121	N/A
6/30/2019	102,152	3,087	-986	11,493	N/A
3/31/2019	90,296	2,835	-1,506	8,838	N/A
12/31/2018	77,408	4,297	-1,098	7,360	N/A
9/30/2018	61,083	5,556	-1,582	4,450	N/A
6/30/2018	59,500	5,679	N/A	5,203	N/A
3/31/2018	57,794	5,210	N/A	5,330	N/A
12/31/2017	56,953	5,415	N/A	6,585	N/A
9/30/2017	55,398	5,098	N/A	7,395	N/A
6/30/2017	55,077	4,945	N/A	7,975	N/A
3/31/2017	54,713	4,940	N/A	7,871	N/A
12/31/2016	53,254	6,590	N/A	6,494	N/A
9/30/2016	53,956	8,716	N/A	6,392	N/A
6/30/2016	50,261	8,649	N/A	5,266	N/A
3/31/2016	47,151	8,458	N/A	5,123	N/A
12/31/2015	44,796	7,040	N/A	2,499	N/A
9/30/2015	41,100	5,240	N/A	2,275	N/A
6/30/2015	40,062	5,063	N/A	2,179	N/A
3/31/2015	39,453	5,139	N/A	2,079	N/A
12/31/2014	38,564	4,402	N/A	4,785	N/A
9/30/2014	37,770	4,339	N/A	4,426	N/A
6/30/2014	37,159	4,300	N/A	4,691	N/A
3/31/2014	36,190	4,112	N/A	5,507	N/A
12/31/2013	35,151	4,101	N/A	5,181	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MINT's forecast earnings growth (32.7% per year) is above the savings rate (2%).

Earnings vs Market: MINT's earnings (32.7% per year) are forecast to grow faster than the TH market (17.8% per year).

High Growth Earnings: MINT's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MINT's revenue (1.8% per year) is forecast to grow slower than the TH market (6.9% per year).

High Growth Revenue: MINT's revenue (1.8% 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 (10.9%).

Minor International Future Growth

Future criteria checks 3/6

Key information

Recent future growth updates

Consensus EPS estimates fall to -฿2.86

Consensus forecasts updated

Consensus EPS estimates fall to -฿2.65

Price target increased to ฿33.07

Price target raised to ฿29.76

Analysts lower EPS estimates to -฿1.49

Recent updates

Third quarter 2024 earnings released: ฿0.06 loss per share (vs ฿0.31 profit in 3Q 2023)

First half dividend of ฿0.25 announced

Minor International Public Company Limited Announces Resignation of Thiraphong Chansiri as Director

Second quarter 2024 earnings released: EPS: ฿0.42 (vs ฿0.51 in 2Q 2023)

New minor risk - Dividend sustainability

Now 22% undervalued after recent price drop

Minor International Public Company Limited to Report Q2, 2024 Results on Aug 07, 2024

First quarter 2024 earnings released: EPS: ฿0.13 (vs ฿0.27 loss in 1Q 2023)

Upcoming dividend of ฿0.32 per share

Now 20% overvalued after recent price rise

Final dividend of ฿0.32 announced

Minor International Public Company Limited, Annual General Meeting, Apr 25, 2024

Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Minor International Public Company Limited to Report Fiscal Year 2023 Results on Feb 08, 2024

Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Minor International Public Company Limited Announces Interim Cash Dividend for the Period from 01 January 2023 to 30 June 2023, Payable on 15 September 2023

Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

First quarter 2023 earnings released: ฿0.27 loss per share (vs ฿0.80 loss in 1Q 2022)

Upcoming dividend of ฿0.25 per share at 0.8% yield

Full year 2022 earnings released: EPS: ฿0.54 (vs ฿2.83 loss in FY 2021)

Minor International Public Company Limited Announces Resignation of Anil Thadani as Director

Less than half of directors are independent

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Now 20% undervalued after recent price drop

Minor International Public Company Limited to Report Q3, 2022 Results on Nov 10, 2022

Now 21% undervalued after recent price drop

Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Minor International Public Company Limited Appoints Michael David Selby as an Independent Director

First quarter 2022 earnings: EPS and revenues miss analyst expectations

Less than half of directors are independent

Minor International Public Company Limited to Report Q1, 2022 Results on May 12, 2022

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Minor International Public Company Limited, Annual General Meeting, Apr 22, 2022

Minor International Public Company Limited Announces Executive Changes, Effective from April 1, 2022

Third quarter 2021 earnings released: ฿0.16 loss per share (vs ฿1.20 loss in 3Q 2020)

Second quarter 2021 earnings released: ฿0.83 loss per share (vs ฿1.90 loss in 2Q 2020)

Consensus EPS estimates fall to -฿2.86

Consensus forecasts updated

Minor International Public Company Limited(SET:) dropped from FTSE All-World Index (USD)

First quarter 2021 earnings released: ฿1.47 loss per share (vs ฿0.46 loss in 1Q 2020)

Consensus EPS estimates fall to -฿2.65

Price target increased to ฿33.07

Price target raised to ฿29.76

Minor International Appoints Mark O'sullivan as Its New Area General Manager for Bangkok

Analysts lower EPS estimates to -฿1.49

Full year 2020 earnings released: ฿4.71 loss per share (vs ฿2.04 profit in FY 2019)

Earnings beat expectations, revenue disappoints

Minor International Public Company Limited, Annual General Meeting, Apr 22, 2021

New 90-day high: ฿31.00

New 90-day high: ฿30.00

Price target raised to ฿26.12

New 90-day high: ฿28.00

Minor International Public Company Limited to Report Q4, 2020 Results on Feb 25, 2021

Analysts lower EPS estimates to -฿3.16

Price target raised to ฿22.41

Third quarter 2020 earnings released: ฿1.21 loss per share

New 90-day high: ฿23.40

New 90-day low: ฿17.20

Minor International Public Company Limited has completed a Follow-on Equity Offering in the amount of THB 9.857632 billion.

Minor International Public Company Limited Updates on Re-Opening Plan from COVID-19

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings per Share Growth Forecasts

Future Return on Equity

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