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 91,791 120,792 138,410 - -
Change - 1.54% -20.36% -0.69% 31.59% 14.59% - -
Enterprise Value (EV) 1 124,643 135,011 129,109 135,537 160,332 177,794 178,459 181,678
Change - 8.32% -4.37% 4.98% 18.29% 10.89% 0.37% 1.8%
P/E 16x 14.6x 35.1x -122x -77.7x 16.5x 16.2x 15x
PBR 0.39x 0.4x 0.32x 0.34x - 0.51x 0.51x 0.51x
PEG - 1.3x -0.5x 1x -1x -0x 8.7x 1.86x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 7.15x 7.28x 7.15x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 9.18x 9.39x 9.39x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 17.6x 18.4x 17.3x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 19x 19.4x 17.8x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 36.3x 31.3x 20.5x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 2.75% 3.19% 4.87%
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% 5.02% 5.24% 5.49%
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 19,366 19,003 19,346
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 24.04 24.04 24.04
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.($)
16.53x9.18x17.57x5.02% 17.64B
15.16x4.81x12.94x3.34% 43.1B
8.65x1.5x7.83x4.11% 29.9B
18.41x4.03x16.47x1.34% 28.14B
6.36x0.35x0.73x8.93% 26.95B
13.66x3.05x14.7x2.59% 24.8B
8.29x0.92x3.34x2.7% 21.2B
8.92x2.3x7.07x3.91% 21.01B
13.7x6.59x17.66x1.55% 19.85B
10.1x1.64x14.18x3.74% 18.4B
Average 11.98x 3.44x 11.25x 3.72% 25.1B
Weighted average by Cap. 12.16x 3.35x 11.08x 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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