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Swire Properties

OTCPK:SWRO.Y
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SWRO.Y
OTCPK
HK$186B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Swire Properties Limited, together with its subsidiaries, develops, owns, and operates mixed-use, primarily commercial properties in Hong Kong, Mainland China, the United States, and internationally. The last earnings update was 42 days ago. More info.


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SWRO.Y Share Price and Events
7 Day Returns
0%
OTCPK:SWRO.Y
-0.9%
US Real Estate
-0.7%
US Market
1 Year Returns
-
OTCPK:SWRO.Y
-15.7%
US Real Estate
3%
US Market
SWRO.Y Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Swire Properties (SWRO.Y) 0% 0% - - - -
US Real Estate -0.9% -6.6% -8.6% -15.7% 22.9% 4.2%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • No trading data on SWRO.Y.
  • No trading data on SWRO.Y.
Price Volatility
SWRO.Y
Industry
5yr Volatility vs Market

Value

 Is Swire Properties undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Swire Properties to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Swire Properties.

OTCPK:SWRO.Y Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:SWRO.Y
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6.7%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.11 (1 + (1- 25%) (17.24%))
1.17
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.17
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.17 * 6.65%)
10.51%

Discounted Cash Flow Calculation for OTCPK:SWRO.Y using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Swire Properties is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:SWRO.Y DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 10.51%)
2019 14,724.00 Analyst x3 13,323.48
2020 5,581.25 Analyst x4 4,569.99
2021 7,224.00 Analyst x2 5,352.46
2022 6,490.57 Est @ -10.15% 4,351.62
2023 6,082.45 Est @ -6.29% 3,690.10
2024 5,864.54 Est @ -3.58% 3,219.48
2025 5,765.50 Est @ -1.69% 2,864.05
2026 5,744.56 Est @ -0.36% 2,582.22
2027 5,777.01 Est @ 0.56% 2,349.80
2028 5,847.16 Est @ 1.21% 2,152.11
Present value of next 10 years cash flows HK$44,455.31
OTCPK:SWRO.Y DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$5,847.16 × (1 + 2.73%) ÷ (10.51% – 2.73%)
HK$77,191.82
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$77,191.82 ÷ (1 + 10.51%)10
HK$28,411.29
OTCPK:SWRO.Y Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$44,455.31 + HK$28,411.29
HK$72,866.61
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$72,866.61 / 5,850.00
HK$12.46
OTCPK:SWRO.Y Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:SWRO.Y represents 0.62924x of SEHK:1972
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.62924x
Value per Share
(Listing Adjusted, USD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 12.46 x 0.62924
$7.84
Value per share (USD) From above. $7.84
Current discount Discount to share price of $20.01
= -1 x ($20.01 - $7.84) / $7.84
-155.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Swire Properties is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Swire Properties's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Swire Properties's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:SWRO.Y PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$4.90
SEHK:1972 Share Price ** SEHK (2019-04-18) in HKD HK$31.8
United States of America Real Estate Industry PE Ratio Median Figure of 26 Publicly-Listed Real Estate Companies 15.37x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Swire Properties.

OTCPK:SWRO.Y PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1972 Share Price ÷ EPS (both in HKD)

= 31.8 ÷ 4.90

6.49x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Swire Properties is good value based on earnings compared to the US Real Estate industry average.
  • Swire Properties is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Swire Properties's expected growth come at a high price?
Raw Data
OTCPK:SWRO.Y PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.49x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
-46.4%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.44x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

OTCPK:SWRO.Y PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.49x ÷ -46.4%

-0.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Swire Properties earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Swire Properties's assets?
Raw Data
OTCPK:SWRO.Y PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$47.74
SEHK:1972 Share Price * SEHK (2019-04-18) in HKD HK$31.8
United States of America Real Estate Industry PB Ratio Median Figure of 52 Publicly-Listed Real Estate Companies 1.44x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
OTCPK:SWRO.Y PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1972 Share Price ÷ Book Value per Share (both in HKD)

= 31.8 ÷ 47.74

0.67x

* Primary Listing of Swire Properties.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Swire Properties is good value based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Swire Properties's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. Swire Properties has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Swire Properties expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-46.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Swire Properties expected to grow at an attractive rate?
  • Swire Properties's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Swire Properties's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Swire Properties's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:SWRO.Y Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:SWRO.Y Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts -46.4%
OTCPK:SWRO.Y Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 2.8%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 6.9%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 6.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:SWRO.Y Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:SWRO.Y Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 17,401 11,298 9,291 5
2020-12-31 15,485 8,632 8,435 10
2019-12-31 15,031 9,948 8,465 10
OTCPK:SWRO.Y Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 15,634 9,391 28,666
2018-09-30 15,335 8,740 34,533
2018-06-30 15,035 8,089 40,399
2018-03-31 17,092 9,923 37,178
2017-12-31 19,149 11,756 33,957
2017-09-30 20,026 12,679 29,218
2017-06-30 20,902 13,601 24,479
2017-03-31 19,066 11,113 19,765
2016-12-31 17,229 8,625 15,050
2016-09-30 16,337 7,680 12,982
2016-06-30 15,444 6,734 10,913
2016-03-31 16,152 7,452 12,493

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Swire Properties's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Swire Properties's revenue is expected to grow by 2.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:SWRO.Y Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Swire Properties Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:SWRO.Y Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.59 1.80 1.46 6.00
2020-12-31 1.46 1.57 1.35 11.00
2019-12-31 1.53 1.84 1.38 4.00
OTCPK:SWRO.Y Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 4.90
2018-09-30 5.90
2018-06-30 6.91
2018-03-31 6.36
2017-12-31 5.80
2017-09-30 4.99
2017-06-30 4.18
2017-03-31 3.38
2016-12-31 2.57
2016-09-30 2.22
2016-06-30 1.87
2016-03-31 2.14

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Swire Properties is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Swire Properties's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Swire Properties has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Swire Properties performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Swire Properties's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Swire Properties has delivered over 20% year on year earnings growth in the past 5 years.
  • Swire Properties's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Swire Properties's 1-year earnings growth is negative, it can't be compared to the US Real Estate industry average.
Earnings and Revenue History
Swire Properties's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Swire Properties Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:SWRO.Y Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 15,634.00 28,666.00 1,576.00
2018-09-30 15,334.50 34,532.50 1,484.00
2018-06-30 15,035.00 40,399.00 1,392.00
2018-03-31 17,092.00 37,178.00 1,380.50
2017-12-31 19,149.00 33,957.00 1,369.00
2017-09-30 20,025.50 29,218.00 1,352.00
2017-06-30 20,902.00 24,479.00 1,335.00
2017-03-31 19,065.50 19,764.50 1,314.50
2016-12-31 17,229.00 15,050.00 1,294.00
2016-09-30 16,336.50 12,981.50 1,277.50
2016-06-30 15,444.00 10,913.00 1,261.00
2016-03-31 16,152.00 12,492.50 1,213.50
2015-12-31 16,860.00 14,072.00 1,166.00
2015-09-30 16,872.00 12,810.00 1,115.50
2015-06-30 16,884.00 11,548.00 1,065.00
2015-03-31 16,459.50 10,532.00 1,037.50
2014-12-31 16,035.00 9,516.00 1,010.00
2014-09-30 16,010.00 10,775.00 987.00
2014-06-30 15,985.00 12,034.00 964.00
2014-03-31 14,594.50 12,279.50 969.00
2013-12-31 13,204.00 12,525.00 974.00
2013-09-30 14,188.50 14,188.00 956.00
2013-06-30 15,173.00 15,851.00 938.00
2013-03-31 14,738.50 17,302.00 911.50
2012-12-31 14,304.00 18,753.00 885.00
2012-09-30 12,205.00 16,856.00 982.50
2012-06-30 10,106.00 14,957.00 1,082.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Swire Properties has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Swire Properties used its assets more efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Swire Properties's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Swire Properties's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Swire Properties has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Swire Properties's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Swire Properties's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Swire Properties is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Swire Properties's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Swire Properties's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Swire Properties Company Filings, last reported 4 months ago.

OTCPK:SWRO.Y Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 281,291.00 32,069.00 2,093.00
2018-09-30 281,291.00 32,069.00 2,093.00
2018-06-30 277,061.00 33,719.00 2,612.00
2018-03-31 277,061.00 33,719.00 2,612.00
2017-12-31 259,378.00 37,401.00 1,708.00
2017-09-30 259,378.00 37,401.00 1,708.00
2017-06-30 240,260.00 35,779.00 1,589.00
2017-03-31 240,260.00 35,779.00 1,589.00
2016-12-31 227,225.00 37,381.00 1,681.00
2016-09-30 227,225.00 37,381.00 1,681.00
2016-06-30 220,129.00 38,441.00 2,991.00
2016-03-31 220,129.00 38,441.00 2,991.00
2015-12-31 217,949.00 38,439.00 4,358.00
2015-09-30 217,949.00 38,439.00 4,358.00
2015-06-30 215,108.00 37,531.00 2,982.00
2015-03-31 215,108.00 37,531.00 2,982.00
2014-12-31 208,547.00 37,599.00 2,874.00
2014-09-30 208,547.00 37,599.00 2,874.00
2014-06-30 206,790.00 38,367.00 3,131.00
2014-03-31 206,790.00 38,367.00 3,131.00
2013-12-31 203,150.00 35,383.00 2,521.00
2013-09-30 203,150.00 35,383.00 2,521.00
2013-06-30 198,255.00 33,389.00 3,627.00
2013-03-31 198,255.00 33,389.00 3,627.00
2012-12-31 193,076.00 31,294.00 1,940.00
2012-09-30 193,256.00 31,294.00 1,940.00
2012-06-30 185,194.00 35,491.00 4,661.00
  • Swire Properties's level of debt (11.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (17.4% vs 11.4% today).
  • Debt is well covered by operating cash flow (29.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12.6x coverage).
X
Financial health checks
We assess Swire Properties's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Swire Properties has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Swire Properties's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.64%
Current annual income from Swire Properties dividends. Estimated to be 2.89% next year.
If you bought $2,000 of Swire Properties shares you are expected to receive $53 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Swire Properties's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Swire Properties's dividend is below the markets top 25% of dividend payers in United States of America (3.69%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:SWRO.Y Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:SWRO.Y Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.99 8.00
2020-12-31 0.91 14.00
2019-12-31 0.89 13.00
OTCPK:SWRO.Y Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-08 0.840 2.624
2019-03-14 0.840 2.541
2018-03-15 0.770 2.640
2017-04-10 0.710 2.694
2017-03-16 0.710 2.895
2016-04-06 0.710 3.252
2016-03-10 0.710 3.381
2015-04-10 0.660 2.876
2015-03-19 0.660 2.674
2014-04-04 0.600 2.462
2014-03-13 0.600 2.827
2013-04-03 0.760 3.430
2013-03-14 0.760 2.786
2012-08-10 0.220 0.876
2012-04-05 0.180 0.821
2012-03-15 0.180 0.937

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Swire Properties has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Swire Properties only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of Swire Properties's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess Swire Properties's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Swire Properties afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Swire Properties has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Swire Properties's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Guy Martin Coutts Bradley
COMPENSATION HK$14,302
AGE 52
TENURE AS CEO 4.3 years
CEO Bio

Mr. Guy Martin Coutts Bradley has been Chief Executive Officer of Swire Properties Limited since January 1, 2015 and has been its Executive Director since January 1, 2008. Mr. Bradley has been the Chief Operating Officer for Hong Kong at Swire Properties Ltd since January 2010. He served as an Executive Director of Swire Pacific Limited since January 2015 until May 5, 2017. He joined the Swire Group in 1987 and in addition to Hong Kong, has worked with the Group in Papua New Guinea, Japan, U.S.A., Vietnam, Mainland China, Taiwan and the Middle East. He is seconded from the JSS Group and has no other role in the JSS Group. He serves as a Director of Swire Properties MTN Financing Limited. He is a member of The Royal Institution of Chartered Surveyors and The Hong Kong Institute of Surveyors. Mr. Bradley graduated from the University of Oxford in 1987 with a Bachelor of Arts degree in Politics, Philosophy and Economics and obtained a Master of Arts degree from the University of Oxford in 1991.

CEO Compensation
  • Guy Martin Coutts's compensation has been consistent with company performance over the past year.
  • Guy Martin Coutts's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Swire Properties management team in years:

4.3
Average Tenure
52
Average Age
  • The tenure for the Swire Properties management team is about average.
Management Team

Merlin Bingham Swire

TITLE
Chairman
COMPENSATION
HK$1K
AGE
44

Guy Martin Coutts Bradley

TITLE
CEO & Executive Director
COMPENSATION
HK$14K
AGE
52
TENURE
4.3 yrs

Fanny Lung

TITLE
Finance Director & Executive Director
COMPENSATION
HK$5K
AGE
52
TENURE
1.6 yrs

Gordon Ongley

TITLE
Senior Advisor
AGE
64
TENURE
3.8 yrs

Elizabeth Kok

TITLE
Director of Business Development

Anna Thompson

TITLE
Director Human Resources
AGE
50
TENURE
1.3 yrs

Brian Williams

TITLE
Deputy Chairman of Swire Hotels
AGE
59
TENURE
13.3 yrs

David Fu

TITLE
Company Secretary
AGE
54
TENURE
9.3 yrs

Mabelle Ma

TITLE
Director of Development & Valuations
AGE
50
TENURE
9.3 yrs
Board of Directors Tenure

Average tenure and age of the Swire Properties board of directors in years:

3.3
Average Tenure
52
Average Age
  • The tenure for the Swire Properties board of directors is about average.
Board of Directors

Merlin Bingham Swire

TITLE
Chairman
COMPENSATION
HK$1K
AGE
44
TENURE
0.8 yrs

Guy Martin Coutts Bradley

TITLE
CEO & Executive Director
COMPENSATION
HK$14K
AGE
52
TENURE
11.3 yrs

Fanny Lung

TITLE
Finance Director & Executive Director
COMPENSATION
HK$5K
AGE
52
TENURE
1.6 yrs

May Yihong Wu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$843K
AGE
51
TENURE
2 yrs

Michelle Low

TITLE
Non-Executive Director
COMPENSATION
HK$1M
AGE
58
TENURE
8.7 yrs

Spencer Theodore Fung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$599K
AGE
45
TENURE
6.4 yrs

Raymond Lim

TITLE
Non-Executive Director
COMPENSATION
HK$575K
AGE
59
TENURE
5.8 yrs

Patrick Healy

TITLE
Non-Executive Director
AGE
52
TENURE
4.3 yrs

Lily Cheng

TITLE
Independent Non-Executive Director
COMPENSATION
HK$761K
AGE
39
TENURE
2.2 yrs

Nicholas Adam Fenwick

TITLE
Non-Executive Director
AGE
57
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Swire Properties's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Swire Properties has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Swire Properties Limited, together with its subsidiaries, develops, owns, and operates mixed-use, primarily commercial properties in Hong Kong, Mainland China, the United States, and internationally. It operates through three segments: Property Investment, Property Trading, and Hotels. The company is involved in the development, leasing, and management of commercial, retail, and residential properties; the development, construction, and sale of residential apartments; and operation of hotels. It also provides landscaping, financial, and real estate agency services. The company was founded in 1972 and is based in Hong Kong, Hong Kong. Swire Properties Limited is a subsidiary of Swire Pacific Limited.

Details
Name: Swire Properties Limited
SWRO.Y
Exchange: OTCPK
Founded: 1972
HK$23,698,813,722
5,850,000,000
Website: http://www.swireproperties.com
Address: Swire Properties Limited
One Pacific Place,
33rd Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1972 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 18. Jan 2012
OTCPK SWPF.F Ordinary Shares Pink Sheets LLC US USD 18. Jan 2012
DB SW9 Ordinary Shares Deutsche Boerse AG DE EUR 18. Jan 2012
BST SW9 Ordinary Shares Boerse-Stuttgart DE EUR 18. Jan 2012
SHSC 1972 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 18. Jan 2012
SZSC 1972 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 18. Jan 2012
OTCPK SWRO.Y SPONSORED ADR Pink Sheets LLC US USD 05. Sep 2013
Number of employees
Current staff
Staff numbers
5,000
Swire Properties employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 03:02
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/05/14
Last earnings filing: 2019/04/08
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.