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 91,791 120,792 129,543 - -
Change - 1.54% -20.36% -0.69% 31.59% 7.24% - -
Enterprise Value (EV) 1 124,643 135,011 129,109 135,537 160,332 168,668 169,243 168,494
Change - 8.32% -4.37% 4.98% 18.29% 5.2% 0.34% -0.44%
P/E 16x 14.6x 35.1x -122x -77.7x 15.6x 15.4x 14.2x
PBR 0.39x 0.4x 0.32x 0.34x - 0.48x 0.48x 0.48x
PEG - 1.3x -0.5x 1x -1x -0x 11.48x 1.69x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 7.14x 7.05x 6.64x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 9.3x 9.21x 8.63x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 17.6x 17.9x 16.7x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 18.7x 19.2x 16.6x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 35.1x 28.8x 19.6x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 2.85% 3.47% 5.11%
Dividend per Share 2 0.95 1 1.05 1.1 1.15 1.204 1.26 1.318
Rate of return 4.86% 5.04% 6.65% 6.95% 5.48% 5.35% 5.6% 5.86%
EPS 2 1.22 1.36 0.45 -0.13 -0.27 1.446 1.466 1.589
Distribution rate 77.9% 73.5% 233% -846% -426% 83.3% 86% 83%
Net sales 1 15,891 13,826 14,670 14,428 16,041 18,144 18,385 19,515
EBITDA 1 10,141 9,156 8,349 8,533 9,106 9,581 9,439 10,095
EBIT 1 9,786 8,223 7,912 8,097 8,598 9,010 8,806 10,130
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 39,125 39,700 38,951
Reference price 2 19.54 19.84 15.80 15.82 20.98 22.50 22.50 22.50
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.56x9.3x17.6x5.35% 16.52B
15.68x4.94x13.3x3.23% 44.6B
8.45x1.48x7.55x4.18% 29.72B
19.91x4.14x16.91x1.25% 29.33B
5.58x0.6x1.23x9.03% 26.66B
14.34x3.11x14.91x2.45% 25.48B
9.07x2.34x7.2x3.85% 21.38B
14.8x6.76x18.15x1.45% 20.76B
Average 12.92x 4.08x 12.11x 3.85% 26.81B
Weighted average by Cap. 13.09x 3.85x 11.88x 3.77%

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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