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 91,791 120,792 125,053 - -
Change - 1.54% -20.36% -0.69% 31.59% 3.53% - -
Enterprise Value (EV) 1 124,643 135,011 129,109 135,537 160,332 164,228 165,166 164,906
Change - 8.32% -4.37% 4.98% 18.29% 2.43% 0.57% -0.16%
P/E 16x 14.6x 35.1x -122x -77.7x 15.1x 14.6x 13.5x
PBR 0.39x 0.4x 0.32x 0.34x - 0.46x 0.46x 0.46x
PEG - 1.3x -0.5x 1x -1x -0x 4.62x 1.63x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 6.94x 6.79x 6.41x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 9.11x 8.96x 8.45x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 17.1x 17.2x 16.1x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 18.2x 18.5x 16x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 34.2x 33.1x 18.9x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 2.92% 3.02% 5.28%
Dividend per Share 2 0.95 1 1.05 1.1 1.15 1.204 1.26 1.317
Rate of return 4.86% 5.04% 6.65% 6.95% 5.48% 5.54% 5.8% 6.06%
EPS 2 1.22 1.36 0.45 -0.13 -0.27 1.441 1.486 1.609
Distribution rate 77.9% 73.5% 233% -846% -426% 83.6% 84.7% 81.8%
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 9,621 9,625 10,258
EBIT 1 9,786 8,223 7,912 8,097 8,598 9,017 8,923 10,295
Net income 1 7,121 7,980 2,637 -766 -1,533 8,065 7,947 9,502
Net Debt 1 10,334 18,947 36,679 43,746 39,540 39,175 40,114 39,853
Reference price 2 19.54 19.84 15.80 15.82 20.98 21.72 21.72 21.72
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.($)
14.71x8.95x16.76x5.68% 15.57B
21.07x4.29x17.6x1.19% 31.25B
5.74x0.67x1.37x8.7% 27.67B
14.27x3.1x14.88x2.46% 25.64B
15.33x6.87x18.44x1.4% 21.75B
32.18x15.26x49.41x1.28% 17.3B
7.4x1.64x5.3x2.98% 16.63B
9.53x28.06x - 2.31% 16.35B
27.06x11.07x26.73x3.71% 15.3B
Average 16.37x 8.88x 18.81x 3.3% 20.83B
Weighted average by Cap. 15.98x 7.68x 17.43x 3.34%

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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