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 91,791 120,792 127,586 - -
Change - 1.54% -20.36% -0.69% 31.59% 5.62% - -
Enterprise Value (EV) 1 124,643 135,011 129,109 135,537 160,332 166,915 167,340 167,253
Change - 8.32% -4.37% 4.98% 18.29% 4.11% 0.25% -0.05%
P/E 16x 14.6x 35.1x -122x -77.7x 15.5x 15x 13.9x
PBR 0.39x 0.4x 0.32x 0.34x - 0.47x 0.47x 0.47x
PEG - 1.3x -0.5x 1x -1x -0x 5x 1.75x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 7.03x 6.94x 6.54x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 9.2x 9.1x 8.57x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 17.5x 17.7x 16.7x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 18.6x 19x 16.6x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 34.8x 28.5x 19.4x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 2.88% 3.51% 5.15%
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% 5.43% 5.69% 5.95%
EPS 2 1.22 1.36 0.45 -0.13 -0.27 1.43 1.472 1.589
Distribution rate 77.9% 73.5% 233% -846% -426% 84.3% 85.6% 83%
Net sales 1 15,891 13,826 14,670 14,428 16,041 18,144 18,385 19,515
EBITDA 1 10,141 9,156 8,349 8,533 9,106 9,515 9,453 10,011
EBIT 1 9,786 8,223 7,912 8,097 8,598 8,961 8,818 10,064
Net income 1 7,121 7,980 2,637 -766 -1,533 8,031 7,959 9,352
Net Debt 1 10,334 18,947 36,679 43,746 39,540 39,329 39,754 39,668
Reference price 2 19.54 19.84 15.80 15.82 20.98 22.16 22.16 22.16
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 10/3/22 9/3/23 14/3/24 13/3/25 12/3/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.5x9.2x17.54x5.43% 16.28B
16.01x5.02x13.53x3.17% 45.58B
21.11x4.3x17.62x1.19% 31.22B
8.85x1.49x7.65x3.98% 31.49B
5.77x0.68x1.39x8.65% 27.82B
14.33x3.11x14.9x2.45% 25.66B
15.38x6.88x18.47x1.39% 21.75B
8.96x2.31x7.11x4.07% 21.13B
Average 13.24x 4.12x 12.28x 3.79% 27.62B
Weighted average by Cap. 13.45x 3.88x 12.07x 3.69%

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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