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Minor International Public Company (MINT) Fair Value & Analysis

Consumer Cyclical · TH · Market cap 132B THB

MI Minor International Public Company MINT · BK
Price23.10 THB
Fair Value32.82 THB
Upside+42.1%
Quality50/100
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Mixed Growth
Thin margins · 5.6% net margin
Moderate debt · generates free cash flow
2.97% dividend yield
Ranks above peers (9/15)
Narrow moat 38/100
Evidence: High Range 20.42 THB – 44.05 THB Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from 27.23 THB to 32.82 THB (+20.5%) since Jul 12, 2026.

A solid business, screening 42% undervalued on our models.

What matters now

  • Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (20.42 THB to 44.05 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

33.18 THB 19.41 THB Fair Value 32.82 THB Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 19.41 THB – 33.18 THB · fair‑value band 20.42 THB – 44.05 THB · the 23.10 THB price screens below the 32.82 THB fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Minor International Public Company (MINT) currently trades at 23.10 THB, while our model-based Fair Value estimate is 32.82 THB, implying the stock looks roughly 42.1% undervalued today. The Quality Score stands at 50/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Minor International Public Company generated revenue of 166B THB at a net margin of 5.6%. Revenue grew 2.6% year over year. It earns a return on equity of 10.2%. Net debt stands at 283B THB. Fundamentals as of Aug 13, 2026

Our scenario range runs from 20.42 THB (bear case) to 44.05 THB (bull case); at 23.10 THB, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 13% below its 52-week high and 20% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -56% fair-value upside, at 42%, MINT screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF 24.78 THB 65.52 THB 131.04 THB 80
Residual Income 10.64 THB 13.83 THB 37.35 THB 76
Rev-Margin DCF 15.58 THB 39.27 THB 72.81 THB 74
All 26 models by family
DCF Models
FCF DCF 26.00 THB 58.26 THB 141.44 THB 38
Owner Earnings 45.11 THB 108.71 THB 233.24 THB 31
5Y Revenue Exit 15.58 THB 40.19 THB 75.18 THB 39
5Y EBITDA Exit 40.31 THB 95.84 THB 170.85 THB 41
5Y P/E Exit 16.07 THB 41.29 THB 71.96 THB 38
10Y Revenue Exit 17.71 THB 43.40 THB 85.43 THB 36
10Y EBITDA Exit 35.64 THB 86.33 THB 174.05 THB 37
10Y P/E Exit 18.96 THB 44.25 THB 83.76 THB 35
Earnings-Based
Graham-Dodd 10.89 THB 66.28 THB 92.44 THB 54
Lynch FV 18.96 THB 27.09 THB 35.21 THB 50
PEG = 1.0 18.96 THB 27.09 THB 35.21 THB 46
EPV 10.66 THB 14.67 THB 18.18 THB 59
Dividend Discount
Gordon GGM 6.02 THB 12.51 THB 19.84 THB 70
DDM Multi-Stage 6.02 THB 10.55 THB 13.13 THB 61
Multiples
P/E Multiple 26.43 THB 35.24 THB 44.05 THB 63
P/S Multiple 20.42 THB 27.23 THB 34.04 THB 58
P/B Multiple 20.42 THB 27.23 THB 34.04 THB 55
EV/EBIT 28.67 THB 42.69 THB 56.71 THB 53
EV/EBITDA 49.01 THB 69.81 THB 90.61 THB 54
EV/Revenue 10.58 THB 20.86 THB 31.15 THB 43
Asset-Based
NCAV (Graham) 5.18 THB 6.94 THB 10.35 THB 50
Growth DCF
Growth DCF 24.78 THB 65.52 THB 131.04 THB 80
Rev-Margin DCF 15.58 THB 39.27 THB 72.81 THB 74
Economic Profit
Residual Income 10.64 THB 13.83 THB 37.35 THB 76
ROIC Compounder 10.92 THB 21.04 THB 30.71 THB 72
Growth Earnings
Growth-Adj P/E 27.99 THB 39.99 THB 51.99 THB 68

Widest divergence: DCF Models (44.25 THB) versus Asset-Based (6.94 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 166B THB
Revenue growth (YoY) +2.6%
Net margin 5.6%
Return on equity 10.2%
Free cash flow 15.2B THB FY2025
P/E ratio 17.4
More key figures
Operating margin 8.6%
EPS (TTM) 1.33 THB
Dividend yield 3.0%
EPS growth (YoY) +188%
Net debt 283B THB FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 47 · Market factors (momentum, volatility) 53

Profitability 37
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 10
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 70
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Minor International Public Company Limited, together with its subsidiaries, operates as a hospitality, restaurant, and lifestyle company in Thailand, Australia, New Zealand, Europe, Latin America, Maldives, the Middle East, the People's Republic of China, and internationally.

Full company description

Minor International Public Company Limited, together with its subsidiaries, operates as a hospitality, restaurant, and lifestyle company in Thailand, Australia, New Zealand, Europe, Latin America, Maldives, the Middle East, the People's Republic of China, and internationally. The company operates through three segments: Hotel, Mixed use and others, and Restaurant. The company operates hotels and restaurants, entertainment venues, food and beverage outlets, property rental business, spa services, and management operations, as well as real estates for sales, distribution, and manufacturing. In addition, the company is involved in the food and beverage sale, hotel management, supply chain management, distribution, management, vacation club point sale, entertainment, franchise, airport lounge, and healthcare businesses; property investment, development, and sales activities; operation of shopping mall and school; 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 headquartered in Bangkok, Thailand.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Minor International Public Company reported revenue of 161B THB in FY2025 versus 69.5B THB in FY2021, a compound +23.3%/yr. Reported net income was 9.0B THB in FY2025.

Growth Quality 84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
161B THB
Latest YoY
−0.5%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.2%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+23.5%
Avg. growth/yr (25Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+21.6%
Revenue +23.3%/yr
FY21 69.5B THB
FY22 120B THB
FY23 149B THB
FY24 161B THB
FY25 161B THB
Net income
FY21 −14.2B THB
FY22 4.3B THB
FY23 5.4B THB
FY24 7.8B THB
FY25 9.0B THB
Character of growth · EPS growth decomposed (2014-2025) −0.2 % p.a.
Revenue per share +12.5 pp

of which total revenue +15.3 pp · buybacks/dilution −2.9 pp

EBIT margin −7.3 pp
Tax rate −2.8 pp
Residual (interest, one-offs) −2.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Minor International Public Company Fair Value". https://www.fairvalue-calculator.com/stock/MINT

Peer Group

Lodging · 167 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 50 · Below median
Fair Value upside +42% · Top 25%
Return on equity (TTM) 10% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 6% · Below median
Operating margin (TTM) 9% · Below median
Revenue growth 3% · Below median
Dividend yield (TTM) 3.0% · Top 25%
Debt / equity 1.46× · Higher than 75% of peers

Valuation Multiples vs Lodging median · lower = cheaper

P/E (TTM) 17.4× · Cheaper than median
P/B 2.27× · Pricier than median
P/S (TTM) 0.80× · Cheaper than median
P/FCF 0.3× · Cheaper than median
EV/EBITDA 7.5× · Cheaper than median
PEG 0.78× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 89 · sector 0
FUTURE 13 · sector 19
PAST 41 · sector 11
HEALTH 27 · sector 91
DIVIDEND 59 · sector 23

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Lodging stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Marriott International, Inc MAR $354.58 $132.35 -63%
Hilton Worldwide Holdings HLT $322.53 $122.02 -62%
InterContinental Hotels Group IHG $161.82 $85.18 -47%
Hyatt Hotels Corporation H $178.37 $46.78 -74%
H World Group HTHT $41.25 $47.78 +16%
The Indian Hotels Company INDHOTEL ₹724.00 ₹253.67 -65%
Hanjin Kal, 180640 118,200 KRW 36,890 KRW -69%
Jabal Omar Development Company 4250 16.00 SAR 11.64 SAR -27%
Makkah Construction and Development Company 4100 81.95 SAR 36.25 SAR -56%
Shanghai Jin Jiang International Hotels Co 600754 ¥19.48 ¥22.37 +15%

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Frequently asked questions

Is Minor International Public Company (MINT) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 32.82 THB versus a price of 23.10 THB, about +42% (undervalued).
What is the fair value of MINT?
Our model-based fair value for Minor International Public Company is 32.82 THB (as of Aug 13, 2026), built from audited fundamentals. The current price is 23.10 THB.
What is the quality score of MINT?
Minor International Public Company has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Minor International Public Company (MINT)?
Minor International Public Company reported trailing-twelve-month revenue of about 166B THB (latest available figure, as of Aug 13, 2026).
What is the net profit margin of MINT?
The net profit margin of Minor International Public Company is about 5.6%, meaning it keeps roughly 5.6% of revenue as net income. Based on the latest reported figures.
Does Minor International Public Company pay a dividend?
Minor International Public Company currently shows a dividend yield of about 3.15% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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