Minor International Public Company Limited

SET:MINT Stock Report

Market Cap: ฿119.2b

Minor International Future Growth

Future criteria checks 2/6

Minor International is forecast to grow earnings and revenue by 16.9% and 3.7% per annum respectively. EPS is expected to grow by 16.9% per annum. Return on equity is forecast to be 13% in 3 years.

Key information

16.9%

Earnings growth rate

16.90%

EPS growth rate

Hospitality earnings growth10.1%
Revenue growth rate3.7%
Future return on equity13.01%
Analyst coverage

Good

Last updated30 Apr 2026

Recent future growth updates

Recent updates

Narrative Update • Apr 23

MINT: Planned REIT And Dividend Moves Will Support Future Share Returns

Analysts kept their THB price target for Minor International unchanged. Their valuation work, with a fair value of THB33.72, a discount rate of 14.81% and an implied future P/E of about 22.55x, still lines up with prior assumptions on revenue growth and profit margins.
Narrative Update • Apr 07

MINT: Planned Hotel REIT Listing And Dividend Policy Will Support Future Returns

Analysts have trimmed their 12 month price target for Minor International slightly, lowering it by about THB0.50 to reflect small adjustments to assumptions for fair value, discount rate, revenue growth, profit margin and forward P/E. What's in the News Board meeting scheduled for February 13, 2026 to review and propose approval of the financial statements for the year ended December 31, 2025 and related auditor's report, along with other business items (company disclosure).
Narrative Update • Mar 24

MINT: Planned REIT Listing And Dividend Policy Will Support Future Returns

Analysts have slightly reduced their price target for Minor International to THB34.22 from THB34.67, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E multiples. What's in the News Board meeting scheduled for February 13, 2026, to consider proposing the 2025 financial statements and auditor's report to the Annual General Meeting, along with other business items (Board Meeting).
Narrative Update • Mar 07

MINT: Planned REIT Listing And Dividend Will Support Future Shareholder Returns

Analysts have nudged their average price target for Minor International slightly higher to THB34.67 from THB34.58, reflecting updated assumptions around discount rates, modest changes in revenue growth, slightly softer profit margins and a marginally higher future P/E multiple. What's in the News A board meeting has been scheduled for February 24, 2026 to consider dividend payment for the 2025 year, director reelection, an increase in the number of board members, directors’ remuneration for 2026, the AGM, and other matters (Key Developments).
Narrative Update • Feb 21

MINT: Share Buyback Plan Will Support Future Returns And Earnings Per Share

Analysts have nudged their price target for Minor International slightly higher to THB34.58 from THB34.42, reflecting updated views on fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News A board meeting is scheduled for November 28, 2025 to consider approval of a share repurchase project for financial management purposes (company filing).
Narrative Update • Feb 06

MINT: Share Buyback Plan Will Support Future Earnings And Capital Returns

Analysts have nudged their price target for Minor International slightly lower to $34.42 from $34.56, reflecting updated views on revenue growth, profit margins and a modest adjustment in the assumed P/E multiple. What's in the News Board meetings scheduled for November 28, 2025 and December 11, 2025 include an agenda item to approve a share repurchase project for financial management (company board filings).
Narrative Update • Jan 23

MINT: Share Buyback Plan Will Support Future Earnings Upside

Analysts have nudged their price target for Minor International slightly higher to about $34.56 from $34.50, citing small adjustments in fair value, discount rate and long term P/E assumptions as the key drivers. What's in the News Board meeting scheduled for December 11, 2025 to consider approval of a share repurchase project for financial management purposes (company filing) Board meeting scheduled for November 28, 2025 with an agenda that also includes approval of a share repurchase project for financial management purposes (company filing) Board of Directors authorized a share buyback plan on November 28, 2025 (company announcement) Company announced a share repurchase program of up to 23,000,000 shares, about 0.41% of share capital, with a budget of THB 500 million and a price cap of 115% of the average closing price of the 5 business days before each repurchase date, valid through June 2, 2026, with 5,669,976,977 shares issued as of March 5, 2025 (company announcement) Analyst and investor day scheduled to cover MINT's business strategy, business parameter updates, outlook and Q3 2025 financial results (company event) Valuation Changes The fair value estimate has risen slightly from THB 34.50 to about THB 34.56 per share.
Narrative Update • Jan 07

MINT: Share Repurchase Plan Will Support Future Earnings And Upside Potential

Analysts have maintained their fair value estimate for Minor International at $34.50. They cite only small adjustments to the discount rate, profit margin, and forward P/E assumptions, rather than any major change in their overall outlook.
Narrative Update • Dec 14

MINT: Share Repurchases Will Support Future Earnings Despite Revenue Contraction

Analysts have nudged their price target for Minor International modestly higher to reflect a slightly reduced discount rate and a marginally lower future earnings multiple, with updated estimates now implying a fair value of $34.50 per share. What's in the News Board meeting scheduled for December 11, 2025, to approve a share repurchase project aimed at financial management efficiency (Key Developments) Board meeting on November 28, 2025, to consider approval of a share repurchase project for financial management purposes (Key Developments) Board of Directors authorized a share buyback plan on November 28, 2025, formalizing the company’s intention to repurchase its own shares (Key Developments) New share repurchase program announced for up to 23,000,000 shares, or 0.41% of capital, totaling THB 500 million, with a price cap of 115% of the five day average and program validity through June 2, 2026 (Key Developments) Upcoming analyst and investor day to review business strategy, key operating metrics, outlook, and Q3 2025 financial results (Key Developments) Valuation Changes Fair Value: Unchanged at THB 34.50 per share, indicating no revision to the core valuation outcome.
Narrative Update • Nov 28

MINT: Net Profit Margin Outlook Will Drive Rebound Despite Revenue Headwinds

Analysts have lowered their price target for Minor International from $35.66 to $34.50. This revision is based on updated expectations for both revenue growth and profit margin outlooks.
User avatar
New Narrative • Feb 09

Expansion Into Indonesia, Italy, And Australia Will Boost Future Performance

Strategic expansion into new markets and asset-light models are expected to drive substantial revenue growth without significant capital expenditure.

Earnings and Revenue Growth Forecasts

SET:MINT - Analysts future estimates and past financials data (THB Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/2028184,21212,61126,01436,9329
12/31/2027175,43711,26420,56933,94416
12/31/2026167,79110,20416,49831,53716
12/31/2025164,8247,30423,74833,160N/A
9/30/2025163,0787,93929,25238,272N/A
6/30/2025163,5165,53531,47441,312N/A
3/31/2025164,3225,26830,46040,340N/A
12/31/2024164,8736,00230,58040,791N/A
9/30/2024163,1613,27827,28837,230N/A
6/30/2024161,3895,27225,43734,598N/A
3/31/2024157,6745,71728,39737,664N/A
12/31/2023152,7173,58229,24138,017N/A
9/30/2023147,7625,93726,48834,642N/A
6/30/2023143,6608,07030,06537,290N/A
3/31/2023135,9295,57127,28732,832N/A
12/31/2022124,1852,82825,12030,139N/A
9/30/2022111,226-61625,32030,467N/A
6/30/202296,276-5,70717,61922,602N/A
3/31/202279,259-11,22514,91019,884N/A
12/31/202170,796-14,71313,07618,144N/A
9/30/202162,859-18,7645,5619,344N/A
6/30/202157,124-23,9521,9286,105N/A
3/31/202148,324-28,409-7,318-2,230N/A
12/31/202058,246-22,868-9,224-2,500N/A
9/30/202077,466-13,423-7,3902,590N/A
6/30/202096,715-3,189-5,6796,030N/A
3/31/2020116,2877,051-5213,516N/A
12/31/2019122,3219,40931314,766N/A
9/30/2019120,6786,298N/A15,121N/A
6/30/2019102,1523,087N/A11,493N/A
3/31/201990,2962,835N/A8,838N/A
12/31/201877,4084,297N/A7,360N/A
9/30/201861,0835,556N/A4,450N/A
6/30/201859,5005,679N/A5,203N/A
3/31/201857,7945,210N/A5,330N/A
12/31/201756,9535,415N/A6,585N/A
9/30/201755,3985,098N/A7,395N/A
6/30/201755,0774,945N/A7,975N/A
3/31/201754,7134,940N/A7,871N/A
12/31/201653,2546,590N/A6,494N/A
9/30/201653,9568,716N/A6,392N/A
6/30/201650,2618,649N/A5,266N/A
3/31/201647,1518,458N/A5,123N/A
12/31/201544,7967,040N/A2,499N/A
9/30/201541,1005,240N/A2,275N/A
6/30/201540,0625,063N/A2,179N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MINT's forecast earnings growth (16.9% per year) is above the savings rate (2.2%).

Earnings vs Market: MINT's earnings (16.9% per year) are forecast to grow faster than the TH market (10.9% per year).

High Growth Earnings: MINT's earnings are forecast to grow, but not significantly.

Revenue vs Market: MINT's revenue (3.7% per year) is forecast to grow slower than the TH market (9.4% per year).

High Growth Revenue: MINT's revenue (3.7% 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 (13%).

Discover growth companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/09 22:07
End of Day Share Price 2026/05/08 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Minor International Public Company Limited is covered by 34 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nuanpun NoiruchchukornAsia Plus Securities Company Limited
Teerapol UdomvejBofA Global Research
Wikij TirawannaratBualuang Securities PCL