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 1,36,222 - -
Change - 1.54% -20.36% -0.69% 31.59% 12.77% - -
Enterprise Value (EV) 1 1,24,643 1,35,011 1,29,109 1,35,537 1,60,332 1,75,606 1,76,271 1,79,490
Change - 8.32% -4.37% 4.98% 18.29% 9.53% 0.38% 1.83%
P/E 16x 14.6x 35.1x -122x -77.7x 16.3x 16x 14.8x
PBR 0.39x 0.4x 0.32x 0.34x - 0.5x 0.5x 0.5x
PEG - 1.3x -0.5x 1x -1x -0x 8.59x 1.83x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 7.11x 7.17x 7.03x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 9.17x 9.28x 9.26x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 17.4x 18.1x 17.1x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 18.8x 19.2x 17.6x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 35.9x 30.9x 20.3x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 2.79% 3.23% 4.93%
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% 5.1% 5.33% 5.58%
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 10,121 9,720 10,485
EBIT 1 9,786 8,223 7,912 8,097 8,598 9,350 9,200 10,201
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 39,384 40,049 43,268
Reference price 2 19.54 19.84 15.80 15.82 20.98 23.66 23.66 23.66
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.($)
16.27x9.17x17.35x5.1% 1.74TCr
15.12x4.83x12.98x3.35% 4.3TCr
8.99x1.53x8x3.95% 3.11TCr
18.21x4.03x16.43x1.35% 2.78TCr
5.54x0.51x1.08x8.99% 2.68TCr
13.54x3.04x14.65x2.6% 2.46TCr
8.15x0.9x3.29x2.74% 2.08TCr
10.6x2.06x9.6x4.19% 2.01TCr
13.56x6.58x17.59x1.57% 1.96TCr
10.32x1.66x14.33x3.66% 1.88TCr
Average 12.03x 3.43x 11.53x 3.75% 2.5TCr
Weighted average by Cap. 12.17x 3.34x 11.32x 3.75%

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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