Company Valuation: Swire Properties Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 114,309 116,064 92,430 91,791 120,792 119,180 - -
Change - 1.54% -20.36% -0.69% 31.59% -1.33% - -
Enterprise Value (EV) 1 124,643 135,011 129,109 135,537 160,332 158,510 159,266 159,202
Change - 8.32% -4.37% 4.98% 18.29% -1.14% 0.48% -0.04%
P/E 16x 14.6x 35.1x -122x -77.7x 14.6x 14.3x 13x
PBR 0.39x 0.4x 0.32x 0.34x - 0.44x 0.44x 0.44x
PEG - 1.3x -0.5x 1x -1x -0x 6.01x 1.31x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 6.61x 6.47x 6.11x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 8.8x 8.64x 8.16x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 16.7x 16.7x 15.8x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 17.7x 17.9x 15.7x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 23.7x 22x 18.3x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 4.22% 4.54% 5.47%
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% 5.82% 6.09% 6.37%
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 7,968 7,855 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 20.70 20.70 20.70
Nbr of stocks (in thousands) 5,850,000 5,850,000 5,850,000 5,802,221 5,757,485 5,757,485 - -
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.($)
14.59x8.8x16.65x5.82% 15.2B
14.74x4.68x12.71x3.42% 42.2B
22.51x4.39x18.44x1.13% 30.61B
6.15x0.76x1.55x8.2% 29.36B
7.62x1.38x6.92x4.68% 27.43B
14.93x3.12x15.43x2.35% 24.88B
15.65x1x6.59x2.38% 21.73B
15.49x6.71x19.03x1.22% 20.41B
9.01x2.17x7.45x4.12% 19.67B
Average 13.41x 3.67x 11.64x 3.7% 25.72B
Weighted average by Cap. 13.51x 3.48x 11.45x 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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