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 91,791 120,792 135,071 - -
Change - 1.54% -20.36% -0.69% 31.59% 11.82% - -
Enterprise Value (EV) 1 124,643 135,011 129,109 135,537 160,332 174,287 174,859 174,159
Change - 8.32% -4.37% 4.98% 18.29% 8.7% 0.33% -0.4%
P/E 16x 14.6x 35.1x -122x -77.7x 16.1x 15.9x 14.6x
PBR 0.39x 0.4x 0.32x 0.34x - 0.5x 0.5x 0.5x
PEG - 1.3x -0.5x 1x -1x -0x 10.44x 1.67x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 7.34x 7.3x 6.8x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 9.47x 9.45x 8.77x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 17.9x 18.2x 16.7x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 19.1x 19.5x 16.9x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 36.3x 29.8x 20.2x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 2.75% 3.36% 4.95%
Dividend per Share 2 0.95 1 1.05 1.1 1.15 1.204 1.259 1.317
Rate of return 4.86% 5.04% 6.65% 6.95% 5.48% 5.13% 5.37% 5.61%
EPS 2 1.22 1.36 0.45 -0.13 -0.27 1.456 1.478 1.607
Distribution rate 77.9% 73.5% 233% -846% -426% 82.7% 85.2% 81.9%
Net sales 1 15,891 13,826 14,670 14,428 16,041 18,396 18,512 19,867
EBITDA 1 10,141 9,156 8,349 8,533 9,106 9,710 9,617 10,424
EBIT 1 9,786 8,223 7,912 8,097 8,598 9,108 8,959 10,330
Net income 1 7,121 7,980 2,637 -766 -1,533 8,124 7,921 9,344
Net Debt 1 10,334 18,947 36,679 43,746 39,540 39,216 39,788 39,088
Reference price 2 19.54 19.84 15.80 15.82 20.98 23.46 23.46 23.46
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 3/10/22 3/9/23 3/14/24 3/13/25 3/12/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.78x4.97x13.37x3.21% 44.9B
20.45x4.21x17.18x1.22% 30.13B
8.47x1.48x7.57x4.16% 29.81B
5.69x0.63x1.31x8.85% 27.19B
14.69x3.15x15.08x2.39% 26.11B
9.19x2.37x7.3x3.8% 21.66B
15.17x6.87x18.36x1.4% 21.34B
10.27x1.65x14.29x3.68% 18.7B
Average 12.46x 3.17x 11.81x 3.59% 27.48B
Weighted average by Cap. 12.87x 3.28x 11.78x 3.59%

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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  5. Valuation Swire Properties Limited