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 91,791 120,792 144,398 - -
Change - 1.54% -20.36% -0.69% 31.59% 19.54% - -
Enterprise Value (EV) 1 124,643 135,011 129,109 135,537 160,332 183,754 184,387 187,537
Change - 8.32% -4.37% 4.98% 18.29% 14.61% 0.34% 1.71%
P/E 16x 14.6x 35.1x -122x -77.7x 17.2x 16.9x 15.7x
PBR 0.39x 0.4x 0.32x 0.34x - 0.53x 0.53x 0.53x
PEG - 1.3x -0.5x 1x -1x -0x 9.08x 1.94x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 7.54x 7.6x 7.45x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 9.6x 9.71x 9.68x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 18.1x 18.9x 17.8x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 19.6x 20x 18.3x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 37.5x 32.4x 21.2x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 2.66% 3.09% 4.72%
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% 4.81% 5.03% 5.26%
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 10,169 9,751 10,530
EBIT 1 9,786 8,223 7,912 8,097 8,598 9,377 9,218 10,232
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 39,356 39,990 43,139
Reference price 2 19.54 19.84 15.80 15.82 20.98 25.08 25.08 25.08
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.91x9.45x17.89x4.9% 18.06B
15.6x4.95x13.31x3.25% 44.42B
8.98x1.53x8x3.95% 31.07B
17.9x3.99x16.28x1.37% 27.43B
5.51x0.67x1.4x9.07% 26.52B
13.45x3.03x14.61x2.62% 24.57B
8.09x0.9x3.26x2.76% 20.68B
10.83x2.09x9.79x4.1% 20.51B
10.69x1.68x14.58x3.53% 19.49B
13.12x6.49x17.34x1.62% 19.08B
Average 12.11x 3.48x 11.64x 3.72% 25.18B
Weighted average by Cap. 12.28x 3.41x 11.47x 3.73%

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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