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 91,791 120,792 146,240 - -
Change - 1.54% -20.36% -0.69% 31.59% 21.07% - -
Enterprise Value (EV) 1 124,643 135,011 129,109 135,537 160,332 185,596 186,230 189,379
Change - 8.32% -4.37% 4.98% 18.29% 15.76% 0.34% 1.69%
P/E 16x 14.6x 35.1x -122x -77.7x 17.5x 17.1x 15.9x
PBR 0.39x 0.4x 0.32x 0.34x - 0.54x 0.54x 0.54x
PEG - 1.3x -0.5x 1x -1x -0x 9.19x 1.97x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 7.64x 7.7x 7.55x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 9.69x 9.8x 9.77x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 18.3x 19.1x 18x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 19.8x 20.2x 18.5x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 37.9x 32.7x 21.4x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 2.64% 3.06% 4.67%
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% 4.75% 4.96% 5.19%
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 25.40 25.40 25.40
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.($)
17.24x9.6x18.07x4.81% 18.41B
16.18x5.1x13.71x3.13% 46.07B
9.27x1.56x8.14x3.83% 32.04B
18.23x4.03x16.44x1.35% 27.89B
5.53x0.67x1.42x9.04% 26.61B
13.85x3.07x14.81x2.54% 25.26B
8.09x0.9x3.26x2.76% 20.68B
10.97x2.12x9.92x4.05% 20.78B
10.83x1.69x14.67x3.48% 19.75B
13.56x6.58x17.59x1.57% 19.69B
Average 12.38x 3.53x 11.80x 3.66% 25.72B
Weighted average by Cap. 12.60x 3.48x 11.68x 3.65%

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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