Swire Pacific Limited Class B (HK:0087)
:0087
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Swire Pacific Limited Class B
(0087)
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Rating:69Neutral
Price Target:
HK$14.50
▲(24.25% Upside)
Action:DowngradedDate:03/13/26
The score is driven primarily by solid underlying financial footing (moderate leverage, stable revenues, improving cash flow) tempered by volatile and recently thinner profitability. Technicals are supportive with an uptrend and neutral momentum. Valuation is the main drag due to a high P/E, though the ~5% dividend yield helps, and the latest earnings call was net positive with strong Property/Aviation execution despite notable regional and market headwinds.
Positive Factors
Large Property investment pipeline
A multi-decade property pipeline with major projects and committed capital supports recurring rental income and staged development profits. High commitment reduces execution risk, enables predictable cashflows from sales/leases, and underpins long-term growth in the Property division.
Negative Factors
Volatile earnings and thinner margins
Material swings in statutory earnings and net margins impair earnings visibility and complicate capital allocation. Persistent volatility weakens predictability of dividends and ROE, increasing reliance on non-recurring gains for positive headlines rather than steady operational performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Large Property investment pipeline
A multi-decade property pipeline with major projects and committed capital supports recurring rental income and staged development profits. High commitment reduces execution risk, enables predictable cashflows from sales/leases, and underpins long-term growth in the Property division.
Read all positive factors
Swire Pacific Limited Class B (0087) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$105.51B
Dividend Yield5.73%
Average Volume (3M)584.93K
Price to Earnings (P/E)29.0
Beta (1Y)0.49
Revenue Growth6.44%
EPS Growth-95.37%
CountryHK
Employees87,000
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)1.57
Shares Outstanding2,848,932,600
10 Day Avg. Volume764,945
30 Day Avg. Volume584,933
Financial Highlights & Ratios
PEG Ratio-1.00
Price to Book (P/B)0.33
Price to Sales (P/S)0.94
P/FCF Ratio9.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.36
Revenue Forecast (FY)HK$96.37B
Swire Pacific Limited Class B Business Overview & Revenue Model
Company Description
Swire Pacific Limited engages in property, aviation, beverages, marine, and trading and industrial businesses in Hong Kong, Mainland China, rest of Asia, the United States, and internationally. The company's Property division develops, owns, and o...
How the Company Makes Money
Swire Pacific makes money primarily through a mix of recurring operating income from its portfolio businesses and investment returns from subsidiaries and associates. Key revenue and earnings sources include: (1) Property: income from property dev...
Swire Pacific Limited Class B Earnings Call Summary
Earnings Call Date:Aug 07, 2025
(Q2-2025)
| Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
Swire Pacific's interim results for 2025 show a strong performance in the Property and Aviation divisions, with significant progress in real estate sales and aviation services. The Beverages division showed resilience in China but faced challenges in Southeast Asia. Despite a decline in statutory profit and softness in the Hong Kong office market, the company's strategic investments and achievements suggest a cautiously optimistic outlook.Positive Updates
Strong Property Division Performance
The Property division showed strong underlying profit, boosted by the disposal of Miami retail and land assets. The division is 67% committed to a HKD 100 billion investment plan over 10 years, with 7 major projects underway in the Chinese Mainland.
Negative Updates
Challenges in Southeast Asia Beverages
The Beverages division faced challenges in Southeast Asia with EBITDA decreasing by 28%, impacted by the depreciation of the Vietnamese dong and competitive pressures in Thailand.
Read all updates
Q2-2025 Updates
Positive
Negative
Strong Property Division Performance
The Property division showed strong underlying profit, boosted by the disposal of Miami retail and land assets. The division is 67% committed to a HKD 100 billion investment plan over 10 years, with 7 major projects underway in the Chinese Mainland.
Read all positive updates
Company Guidance
During the Swire Pacific 2025 Interim Results Analyst Briefing, the company provided guidance on various performance metrics. The Property division demonstrated strong underlying profit, partly due to successful disposals in Miami, advancing 67% towards a HKD 100 billion investment plan over ten years. Seven major projects are under construction in the Chinese Mainland, and the division launched residential properties in Shanghai that sold out quickly. The Beverages segment showed solid results, with EBITDA margin improving to 12.8%, despite challenges in Southeast Asia, including a 28% EBITDA decrease in Vietnam and Cambodia due to market conditions and operational relocations. Aviation performed well, with HAECO’s recurring profit growing by 40% and Cathay Pacific maintaining strong passenger volumes. Financially, Swire Pacific reported an underlying profit of HKD 5.5 billion, with statutory profit at HKD 815 million, and decided on a 4% dividend increase per A Share to HKD 130. The group's balance sheet remains robust, with gearing at 23% and net debt of HKD 71.3 billion. Sustainability efforts are on track, with significant renewable energy utilization in their core divisions.Swire Pacific Limited Class B Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 90.47B | 81.97B | 94.82B | 91.17B | 90.80B |
| Gross Profit | 33.74B | 30.46B | 35.15B | 34.19B | 35.28B |
| EBITDA | 15.50B | 14.62B | 35.57B | 16.07B | 16.41B |
| Net Income | 2.94B | 4.32B | 28.85B | 4.20B | 5.12B |
Balance Sheet | |||||
| Total Assets | 476.41B | 476.56B | 447.75B | 434.77B | 436.32B |
| Cash, Cash Equivalents and Short-Term Investments | 23.17B | 21.03B | 14.08B | 11.61B | 22.89B |
| Total Debt | 98.29B | 99.47B | 74.90B | 74.34B | 68.25B |
| Total Liabilities | 160.18B | 157.89B | 122.98B | 118.83B | 112.15B |
| Stockholders Equity | 259.58B | 258.30B | 268.13B | 258.46B | 266.95B |
Cash Flow | |||||
| Free Cash Flow | 8.96B | 6.05B | 6.32B | 4.73B | 7.45B |
| Operating Cash Flow | 14.55B | 10.46B | 9.92B | 8.16B | 11.66B |
| Investing Cash Flow | -1.70B | -14.60B | 13.03B | -17.54B | -6.34B |
| Financing Cash Flow | -12.32B | 12.62B | -21.73B | -1.40B | -12.34B |
Swire Pacific Limited Class B Technical Analysis
Neutral
11.67
Price Trends
13.22
Negative
12.48
Positive
12.05
Positive
Market Momentum
-0.07
Positive
46.70
Neutral
27.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0087, the sentiment is Neutral. The current price of 11.67 is below the 20-day moving average (MA) of 13.37, below the 50-day MA of 13.22, and below the 200-day MA of 12.05, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 46.70 is Neutral, neither overbought nor oversold. The STOCH value of 27.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0087.
Swire Pacific Limited Class B Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | HK$105.51B | 28.96 | 1.14% | 5.73% | 6.44% | -95.37% | |
68 Neutral | HK$105.51B | 28.96 | 1.14% | 5.26% | 6.44% | -95.37% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | HK$232.68B | 17.13 | 2.12% | 4.02% | 1.93% | -65.62% | |
62 Neutral | HK$346.76B | 5.51 | 5.53% | 5.15% | 2.45% | -0.36% | |
60 Neutral | HK$38.42B | 7.30 | 5.66% | 4.94% | ― | ― | |
42 Neutral | HK$35.01B | 13.10 | -3.73% | 0.44% | -8.93% | -698.78% |
* Industrials Sector Average
HK:0087
Swire Pacific Limited Class B
13.11
3.52
36.70%
HK:0392
Beijing Enterprises Holdings
30.54
3.73
13.91%
HK:0001
CK Hutchison Holdings
60.75
22.43
58.54%
HK:0267
CITIC
11.92
4.12
52.76%
HK:0656
Fosun International
4.29
0.48
12.51%
HK:0019
Swire Pacific
87.50
25.29
40.65%
Swire Pacific Limited Class B Corporate Events
Swire Pacific Declares Second Interim Dividend of HKD 0.50 Per Share for 2025
Mar 12, 2026
Swire Pacific Limited has declared a second interim ordinary dividend of HKD 0.50 per share for the financial year ending 31 December 2025, signalling continued shareholder returns midway through the fiscal period. The announcement underscores its...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.