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 91,791 120,792 120,907 - -
Change - 1.54% -20.36% -0.69% 31.59% 0.1% - -
Enterprise Value (EV) 1 124,643 135,011 129,109 135,537 160,332 160,237 160,993 160,929
Change - 8.32% -4.37% 4.98% 18.29% -0.06% 0.47% -0.04%
P/E 16x 14.6x 35.1x -122x -77.7x 14.8x 14.5x 13.2x
PBR 0.39x 0.4x 0.32x 0.34x - 0.45x 0.45x 0.45x
PEG - 1.3x -0.5x 1x -1x -0x 6.09x 1.33x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 6.71x 6.56x 6.2x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 8.89x 8.74x 8.25x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 16.8x 16.8x 16x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 17.9x 18.1x 15.9x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 24x 22.3x 18.5x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 4.17% 4.49% 5.41%
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% 5.74% 6% 6.28%
EPS 2 1.22 1.36 0.45 -0.13 -0.27 1.419 1.452 1.597
Distribution rate 77.9% 73.5% 233% -846% -426% 84.9% 86.8% 82.6%
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 9,518 9,565 10,075
EBIT 1 9,786 8,223 7,912 8,097 8,598 8,955 8,900 10,114
Net income 1 7,121 7,980 2,637 -766 -1,533 7,968 7,855 9,401
Net Debt 1 10,334 18,947 36,679 43,746 39,540 39,330 40,086 40,022
Reference price 2 19.54 19.84 15.80 15.82 20.98 21.00 21.00 21.00
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.($)
14.46x8.74x16.55x5.87% 15.07B
14.57x4.57x12.51x3.43% 42.03B
6.34x0.83x1.67x7.96% 30.22B
21.22x4.24x17.8x1.2% 28.84B
7.78x1.4x7x4.58% 28.02B
14.77x3.11x15.35x2.37% 24.59B
16x1.02x6.74x2.33% 22.21B
15.02x6.61x18.76x1.26% 19.77B
9.13x2.2x7.56x4.07% 19.94B
Average 13.25x 3.64x 11.55x 3.67% 25.63B
Weighted average by Cap. 13.22x 3.40x 11.20x 3.69%

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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