Skip to Content
Morningstar

Swire Properties Ltd 01972

Morningstar Rating
Unlock
Stock XHKG Rating as of
HKD 14.98 −0.14 (0.93%)
View Full Chart
As of Delayed Price Closed
Unlock our analysis with Morningstar Investor
Start Free Trial

Company Report

View Archive

Swire Properties Earnings: Results In Line; Fair Value Estimate Cut by 8% on Lower Operating Margins

Xinfu Lee, Kathy Chan

Narrow-moat Swire Properties' 2023 results are in line with our expectations. The 6% year-on-year revenue growth was mainly driven by the retail portfolio in Hong Kong and mainland China, given strong tenant sales growth as the pandemic wanes and the acquisition of the remaining interest of Taikoo Li Chengdu in early 2023. This helped offset softer contribution from the Hong Kong office portfolio.

Read Full Report

Price vs Fair Value

View History
01972 is trading at a 47% discount.
Price
HKD 15.12
Fair Value
HKD 88.90
Uncertainty
Medium
1-Star Price
HKD 47.99
5-Star Price
HKD 29.35
Economic Moat
Qbpghs
Capital Allocation
Zzkjbhcfp

Bulls Say, Bears Say

Bulls

Rental rates in Pacific Place and Taikoo Place offices will recover faster as their location continues to attract tenants.

Bears

Hong Kong will not recover its international financial status, leading to weaker demand for office property by multinational companies.

Show More
Is it the right time to buy, sell, or hold?
Start a free trial of Morningstar Investor to unlock exclusive ratings and continuous analyst coverage to help you decide if 01972 is a good fit for your portfolio.
Get 7 Days Free

Trading Information

Previous Close Price
HKD 15.12
Day Range
HKD 14.82–15.12
52-Week Range
HKD 13.98–21.50
Bid/Ask
HKD 14.96 / HKD 14.98
Market Cap
HKD 87.63 Bil
Volume/Avg
1.9 Mil / 3.3 Mil

Key Statistics

Price/Earnings (Normalized)
11.40
Price/Sales
5.97
Dividend Yield (Trailing)
6.94%
Dividend Yield (Forward)
6.94%
Total Yield
6.94%

Company Profile

Swire Properties is a Hong Kong-based property investor, and Hong Kong's largest office landlord. Its Hong Kong portfolio provides more than 13 million square feet of gross floor area, with its portfolio of Grade A office contributing over 9 million square feet. The firm also holds investment properties and development projects in China, the United States and Southeast Asia. Rental income accounts for over 60% of its total revenue, with property development and hotel operations contributing the balance. The company was listed in 2012. Parent company Swire Pacific holds an 82% stake.
Sector
Real Estate
Industry
Real Estate Services
Stock Style Box
Large Value
Total Number of Employees
6,000
Website
https://www.swireproperties.com

Competitors

Valuation

View More
Metric
01972
H78
01997
Price/Earnings (Normalized)
 11.408.5111.21
Price/Book Value
 0.310.200.36
Price/Sales
 5.973.405.19
Price/Cash Flow
 13.1514.8210.39
Price/Earnings
01972
H78
01997

Financial Strength

Metric
01972
H78
01997
Quick Ratio
 0.480.610.16
Current Ratio
 1.031.700.24
Interest Coverage
 7.92−1.163.54
Quick Ratio
01972
H78
01997

Profitability

Metric
01972
H78
01997
Return on Assets (Normalized)
 2.11%1.87%2.41%
Return on Equity (Normalized)
 2.54%2.39%3.15%
Return on Invested Capital (Normalized)
 2.33%2.39%3.30%
Return on Assets
01972
H78
01997
See how this stock stacks up to its competitors with Morningstar Investor
Start Free Trial

Real Estate Services Industry Comparables

Screen in Investor
Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
CSGP
CoStar Group IncGxddnzshsfRry$34.4 Bil
CBRE
CBRE Group Inc Class ASnfwdmpTdbzvj$26.1 Bil
CLLNY
Cellnex Telecom SA ADR—Lmfvtdv$23.0 Bil
CLNXF
Cellnex Telecom SA—Qnwkwd$23.0 Bil
VNNVF
Vonovia SE—Xrcqlph$21.5 Bil
VONOY
Vonovia SE ADR—Bzynxg$21.5 Bil
VTAGY
Vantage Towers AG ADR—Znhgcw$20.2 Bil
BEKE
KE Holdings Inc ADRSznphcfySybrfj$16.2 Bil
JLL
Jones Lang LaSalle IncYyssswhdxVymspr$8.3 Bil
CWK
Cushman & Wakefield PLCXhrkhwrpsBmt$2.2 Bil

Sponsor Center