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 1,38,410 - -
Change - 1.54% -20.36% -0.69% 31.59% 14.59% - -
Enterprise Value (EV) 1 1,24,643 1,35,011 1,29,109 1,35,537 1,60,332 1,77,626 1,78,198 1,77,498
Change - 8.32% -4.37% 4.98% 18.29% 10.79% 0.32% -0.39%
P/E 16x 14.6x 35.1x -122x -77.7x 16.5x 16.3x 14.9x
PBR 0.39x 0.4x 0.32x 0.34x - 0.51x 0.51x 0.51x
PEG - 1.3x -0.5x 1x -1x -0x 11.89x 1.63x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 7.52x 7.48x 6.97x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 9.66x 9.63x 8.93x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 18.3x 18.5x 17x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 19.5x 19.9x 17.2x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 37x 30.4x 20.6x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 2.7% 3.29% 4.85%
Dividend per Share 2 0.95 1 1.05 1.1 1.15 1.204 1.263 1.317
Rate of return 4.86% 5.04% 6.65% 6.95% 5.48% 5.01% 5.25% 5.48%
EPS 2 1.22 1.36 0.45 -0.13 -0.27 1.456 1.475 1.61
Distribution rate 77.9% 73.5% 233% -846% -426% 82.7% 85.6% 81.8%
Net sales 1 15,891 13,826 14,670 14,428 16,041 18,396 18,512 19,867
EBITDA 1 10,141 9,156 8,349 8,533 9,106 9,710 9,617 10,424
EBIT 1 9,786 8,223 7,912 8,097 8,598 9,108 8,959 10,330
Net income 1 7,121 7,980 2,637 -766 -1,533 8,199 8,035 9,432
Net Debt 1 10,334 18,947 36,679 43,746 39,540 39,216 39,788 39,088
Reference price 2 19.54 19.84 15.80 15.82 20.98 24.04 24.04 24.04
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.39x9.6x18.19x5.05% 1.75TCr
15.87x4.99x13.43x3.19% 4.52TCr
18.46x3.97x16.19x1.35% 2.84TCr
5.58x0.6x1.23x9.03% 2.67TCr
13.77x3.05x14.62x2.55% 2.56TCr
8.5x0.94x3.43x2.63% 2.17TCr
9.03x2.33x7.17x3.86% 2.13TCr
14.05x6.62x17.72x1.52% 2.06TCr
10.26x1.65x14.29x3.68% 1.87TCr
18.28x6.81x21.47x4.49% 1.74TCr
Average 13.02x 4.06x 12.77x 3.73% 2.43TCr
Weighted average by Cap. 13.19x 3.93x 12.44x 3.68%

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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