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 1,21,828 - -
Change - 1.54% -20.36% -0.69% 31.59% 0.86% - -
Enterprise Value (EV) 1 1,24,643 1,35,011 1,29,109 1,35,537 1,60,332 1,61,159 1,61,915 1,61,850
Change - 8.32% -4.37% 4.98% 18.29% 0.52% 0.47% -0.04%
P/E 16x 14.6x 35.1x -122x -77.7x 14.9x 14.6x 13.3x
PBR 0.39x 0.4x 0.32x 0.34x - 0.45x 0.45x 0.45x
PEG - 1.3x -0.5x 1x -1x -0x 6.14x 1.34x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 6.76x 6.61x 6.24x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 8.94x 8.79x 8.29x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 16.9x 16.9x 16.1x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 18x 18.2x 16x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 33.6x 32.5x 18.6x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 2.98% 3.08% 5.38%
Dividend per Share 2 0.95 1 1.05 1.1 1.15 1.204 1.26 1.318
Rate of return 4.86% 5.04% 6.65% 6.95% 5.48% 5.69% 5.96% 6.23%
EPS 2 1.22 1.36 0.45 -0.13 -0.27 1.419 1.452 1.597
Distribution rate 77.9% 73.5% 233% -846% -426% 84.9% 86.8% 82.6%
Net sales 1 15,891 13,826 14,670 14,428 16,041 18,019 18,426 19,515
EBITDA 1 10,141 9,156 8,349 8,533 9,106 9,518 9,565 10,075
EBIT 1 9,786 8,223 7,912 8,097 8,598 8,955 8,900 10,114
Net income 1 7,121 7,980 2,637 -766 -1,533 7,969 7,857 9,401
Net Debt 1 10,334 18,947 36,679 43,746 39,540 39,330 40,086 40,022
Reference price 2 19.54 19.84 15.80 15.82 20.98 21.16 21.16 21.16
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.($)
14.93x8.95x16.94x5.69% 1.56TCr
15.32x4.85x13.03x3.31% 4.36TCr
20.93x4.27x17.53x1.2% 3.11TCr
8.13x1.43x7.17x4.38% 2.93TCr
5.92x0.69x1.42x8.43% 2.85TCr
13.98x3.07x14.73x2.51% 2.52TCr
15.13x6.83x18.32x1.41% 2.15TCr
8.77x2.22x7.12x4.03% 2.03TCr
Average 12.89x 4.04x 12.03x 3.87% 2.69TCr
Weighted average by Cap. 13.08x 3.79x 11.80x 3.79%

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

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