Company Valuation: Swire Properties Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,14,309 1,16,064 92,430 91,791 1,20,792 1,38,871 - -
Change - 1.54% -20.36% -0.69% 31.59% 14.97% - -
Enterprise Value (EV) 1 1,24,643 1,35,011 1,29,109 1,35,537 1,60,332 1,78,227 1,78,860 1,82,010
Change - 8.32% -4.37% 4.98% 18.29% 11.16% 0.36% 1.76%
P/E 16x 14.6x 35.1x -122x -77.7x 16.5x 16.2x 15x
PBR 0.39x 0.4x 0.32x 0.34x - 0.51x 0.51x 0.51x
PEG - 1.3x -0.5x 1x -1x -0x 8.7x 1.86x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 7.25x 7.31x 7.17x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 9.31x 9.42x 9.39x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 17.5x 18.3x 17.3x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 19x 19.4x 17.8x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 36.4x 31.4x 20.6x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 2.75% 3.19% 4.86%
Dividend per Share 2 0.95 1 1.05 1.1 1.15 1.206 1.261 1.319
Rate of return 4.86% 5.04% 6.65% 6.95% 5.48% 5.02% 5.25% 5.5%
EPS 2 1.22 1.36 0.45 -0.13 -0.27 1.455 1.482 1.601
Distribution rate 77.9% 73.5% 233% -846% -426% 82.9% 85.1% 82.4%
Net sales 1 15,891 13,826 14,670 14,428 16,041 19,150 18,997 19,376
EBITDA 1 10,141 9,156 8,349 8,533 9,106 10,169 9,751 10,530
EBIT 1 9,786 8,223 7,912 8,097 8,598 9,377 9,218 10,232
Net income 1 7,121 7,980 2,637 -766 -1,533 8,176 8,178 9,410
Net Debt 1 10,334 18,947 36,679 43,746 39,540 39,356 39,990 43,139
Reference price 2 19.54 19.84 15.80 15.82 20.98 24.00 24.00 24.00
Nbr of stocks (in thousands) 58,50,000 58,50,000 58,50,000 58,02,221 57,57,485 57,57,485 - -
Announcement Date 10/03/22 09/03/23 14/03/24 13/03/25 12/03/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.5x9.27x17.46x5.02% 1.76TCr
14.9x4.77x12.83x3.4% 4.24TCr
19.17x4.05x16.27x1.31% 2.86TCr
8.15x1.5x7.87x4.44% 2.68TCr
14.43x3.1x14.85x2.5% 2.57TCr
5.32x0.6x1.27x9.4% 2.56TCr
7.77x0.86x3.13x2.88% 1.99TCr
10.78x2.05x9.56x4.12% 2.04TCr
13.22x6.48x17.08x1.62% 1.92TCr
33.38x15.53x53.7x1.22% 1.76TCr
Average 14.36x 4.82x 15.40x 3.59% 2.44TCr
Weighted average by Cap. 14.00x 4.41x 14.25x 3.64%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. 1972 Stock
  4. Valuation Swire Properties Limited