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 91,791 120,792 117,683 - -
Change - 1.54% -20.36% -0.69% 31.59% -2.57% - -
Enterprise Value (EV) 1 124,643 135,011 129,109 135,537 160,332 157,013 157,769 157,705
Change - 8.32% -4.37% 4.98% 18.29% -2.07% 0.48% -0.04%
P/E 16x 14.6x 35.1x -122x -77.7x 14.5x 14.1x 12.9x
PBR 0.39x 0.4x 0.32x 0.34x - 0.44x 0.44x 0.44x
PEG - 1.3x -0.5x 1x -1x -0x 5.93x 1.3x
Capitalization / Revenue 7.19x 8.39x 6.3x 6.36x 7.53x 6.53x 6.39x 6.03x
EV / Revenue 7.84x 9.77x 8.8x 9.39x 10x 8.71x 8.56x 8.08x
EV / EBITDA 12.3x 14.7x 15.5x 15.9x 17.6x 16.5x 16.5x 15.7x
EV / EBIT 12.7x 16.4x 16.3x 16.7x 18.6x 17.5x 17.7x 15.6x
EV / FCF 124x -54.6x 52.5x -198x 30.1x 23.5x 21.8x 18.1x
FCF Yield 0.81% -1.83% 1.9% -0.5% 3.32% 4.26% 4.58% 5.52%
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% 5.87% 6.14% 6.43%
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 20.52 20.52 20.52
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
14.56x4.57x12.5x3.44% 41.99B
6.51x0.89x1.79x7.75% 31.04B
21.88x4.32x18.13x1.16% 29.8B
7.88x1.41x7.05x4.52% 28.36B
14.91x3.12x15.42x2.35% 24.89B
15.78x1.01x6.65x2.36% 21.92B
15.36x6.68x18.95x1.23% 20.27B
9.14x2.2x7.57x4.07% 19.96B
9.92x1.63x13.88x3.81% 18.33B
Average 13.04x 3.46x 11.85x 3.66% 25.16B
Weighted average by Cap. 13.11x 3.29x 11.48x 3.67%

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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  4. Valuation Swire Properties Limited
-40%: Exceptional extension
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