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 91,791 120,792 128,277 - -
Change - 1.54% -20.36% -0.69% 31.59% 6.2% - -
Enterprise Value (EV) 1 124,643 135,011 129,109 135,537 160,332 167,606 168,031 167,944
Change - 8.32% -4.37% 4.98% 18.29% 4.54% 0.25% -0.05%
P/E 16x 14.6x 35.1x -122x -77.7x 15.6x 15.1x 14x
PBR 0.39x 0.4x 0.32x 0.34x - 0.48x 0.48x 0.47x
PEG - 1.3x -0.5x 1x -1x -0x 5.03x 1.76x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 7.07x 6.98x 6.57x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 9.24x 9.14x 8.61x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 17.6x 17.8x 16.8x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 18.7x 19.1x 16.7x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 34.9x 28.6x 19.5x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 2.86% 3.49% 5.13%
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% 5.41% 5.66% 5.92%
EPS 2 1.22 1.36 0.45 -0.13 -0.27 1.43 1.472 1.589
Distribution rate 77.9% 73.5% 233% -846% -426% 84.3% 85.6% 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 9,515 9,453 10,011
EBIT 1 9,786 8,223 7,912 8,097 8,598 8,961 8,818 10,064
Net income 1 7,121 7,980 2,637 -766 -1,533 8,031 7,959 9,352
Net Debt 1 10,334 18,947 36,679 43,746 39,540 39,329 39,754 39,668
Reference price 2 19.54 19.84 15.80 15.82 20.98 22.28 22.28 22.28
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 A 3/9/23 A 3/14/24 A 3/13/25 A 3/12/26 A - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.83x4.98x13.41x3.2% 45.06B
8.7x1.49x7.68x4.07% 30.67B
20.6x4.23x17.36x1.22% 30.47B
5.57x0.61x1.26x8.96% 26.85B
14.22x3.1x14.85x2.47% 25.48B
15.13x6.83x18.33x1.41% 21.41B
8.95x2.31x7.1x4.07% 21.11B
10.17x1.64x14.26x3.72% 18.66B
Average 12.40x 3.15x 11.78x 3.64% 27.46B
Weighted average by Cap. 12.85x 3.28x 11.78x 3.62%

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