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Swire Pacific Limited Class B
(0087)
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Rating:71Outperform
Price Target:
HK$16.50
â–²(41.39% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by solid overall financial footing (strong balance sheet, positive and improving cash flows) and a very upbeat earnings call showing broad-based profit momentum and lower gearing. Technicals are supportive with strong uptrend signals, while the main offsets are earnings volatility in the financial history and a high P/E despite an attractive dividend yield.
Positive Factors
Balance sheet strength and liquidity
Lower net gearing and a sizeable proportion of fixed‑rate debt materially reduce refinancing and interest‑rate sensitivity. For a capital‑intensive conglomerate this enhances financial flexibility to fund projects, sustain dividends and absorb cyclical earnings swings over the medium term.
Negative Factors
Earnings volatility and inconsistent profitability
Material swings in net income reduce earnings predictability and complicate capital allocation. While operating margins have been stable, episodic nonrecurring items and cyclical swings (loss in 2020, spike 2023) mean dividend and return forecasts remain sensitive to timing of property profits and one‑offs.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength and liquidity
Lower net gearing and a sizeable proportion of fixed‑rate debt materially reduce refinancing and interest‑rate sensitivity. For a capital‑intensive conglomerate this enhances financial flexibility to fund projects, sustain dividends and absorb cyclical earnings swings over the medium term.
Read all positive factors
Swire Pacific Limited Class B (0087) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$126.99B
Dividend Yield5.14%
Average Volume (3M)802.46K
Price to Earnings (P/E)16.5
Beta (1Y)0.52
Revenue Growth6.76%
EPS Growth618.77%
CountryHK
Employees92,000
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)6.52
Shares Outstanding2,848,932,600
10 Day Avg. Volume487,754
30 Day Avg. Volume802,460
Financial Highlights & Ratios
PEG Ratio-0.96
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)1.54
Revenue Forecast (FY)HK$97.96B
Swire Pacific Limited Class B Business Overview & Revenue Model
Company Description
Founded in Central, Hong Kong, in 1816, Swire Pacific Limited operates as a major conglomerate with diverse interests in property, aviation, beverages, marine, and trading and industrial sectors. Its extensive reach covers Hong Kong, Mainland Chin...
How the Company Makes Money
Swire Pacific makes money primarily through (1) property operations and development, (2) beverage manufacturing, distribution and sales, (3) returns from its aviation-related investments, and (4) earnings from its trading & industrial activities.
...
Swire Pacific Limited Class B Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 11, 2027
Earnings Call Sentiment Positive
The call communicated a strongly positive operating and financial performance: record underlying and recurring profits, broad-based divisional gains (property, beverages, aviation), large ongoing strategic investments, reduced gearing and an increased interim dividend. These positives are tempered by notable headwinds—commodity and energy price volatility (driven by geopolitical tensions) pressuring margins, specific ASEAN beverage market softness and short-term aviation cost impacts. Management emphasized active balance-sheet and cost management, ongoing capital deployment into high‑priority areas, and sustainability progress, which supports confidence in medium‑term prospects.Positive Updates
Record High Underlying and Recurring Profits
Underlying profit increased 43% year-on-year to HKD 7.8 billion; recurring underlying profit for the first half was HKD 7.0 billion, up 48% versus prior year (both figures cited by management).
Negative Updates
Input Cost Inflation and Commodity Volatility
Rising oil and aluminum prices driven by geopolitical tensions (Middle East conflict) are a headwind across beverages and aviation. Management flagged ongoing margin pressure, particularly in Southeast Asia beverages, and second-half cost pressure despite some first-half insulation via advance purchases.
Read all updates
Q2-2026 Updates
Positive
Negative
Record High Underlying and Recurring Profits
Underlying profit increased 43% year-on-year to HKD 7.8 billion; recurring underlying profit for the first half was HKD 7.0 billion, up 48% versus prior year (both figures cited by management).
Read all positive updates
Company Guidance
The call guided that Swire delivered a very strong first half with underlying profit up 43% to HKD 7.8 billion and recurring underlying profit reported up 48% to about HKD 7.0 billion, driven across divisions (Property RUP +37%, Beverages +5%, Aviation +39%); management flagged record‑level capital investment (the HKD 100 billion property plan ~70% committed with seven Mainland projects underway), a CNY/RMB 12 billion Mainland beverages investment (two new plants adding ~10% China capacity with >20 lines; Hainan plant due end‑2027), and Cathay Group’s HKD 150 billion plan (targeting +150 aircraft and 150 destinations over 10 years; capacity +11.8%); liquidity/financial metrics included gearing down to 19.3%, net debt down ~4%, weighted‑average cost of debt 3.4% with 75% fixed‑rate borrowings, refinancing slid toward 2031–2032, and non‑recurring items of HKD 309m/ HKD 434m (this half) versus HKD 833m in 2025 — the board increased the interim dividend 15% to HKD 1.50 per A share.Swire Pacific Limited Class B Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 94.14B | 90.47B | 81.97B | 94.82B | 91.17B | 90.80B |
| Gross Profit | 33.94B | 33.74B | 30.46B | 35.15B | 34.19B | 35.28B |
| EBITDA | 15.26B | 14.54B | 14.62B | 35.57B | 16.07B | 16.41B |
| Net Income | 8.89B | 2.94B | 4.32B | 28.85B | 4.20B | 5.12B |
Balance Sheet | ||||||
| Total Assets | 482.04B | 476.41B | 476.56B | 447.75B | 434.77B | 436.32B |
| Cash, Cash Equivalents and Short-Term Investments | 22.25B | 23.17B | 21.03B | 14.08B | 11.61B | 22.89B |
| Total Debt | 95.14B | 98.29B | 99.47B | 74.90B | 74.34B | 68.25B |
| Total Liabilities | 158.95B | 160.18B | 157.89B | 122.98B | 118.83B | 112.15B |
| Stockholders Equity | 266.32B | 259.58B | 258.30B | 268.13B | 258.46B | 266.95B |
Cash Flow | ||||||
| Free Cash Flow | 11.00B | 8.96B | 6.05B | 6.32B | 4.73B | 7.45B |
| Operating Cash Flow | 15.84B | 14.55B | 10.46B | 9.92B | 8.16B | 11.66B |
| Investing Cash Flow | 942.00M | -1.70B | -14.60B | 13.03B | -17.54B | -6.34B |
| Financing Cash Flow | -21.13B | -12.32B | 12.62B | -21.73B | -1.40B | -12.34B |
Swire Pacific Limited Class B Technical Analysis
Positive
11.67
Price Trends
14.37
Positive
13.84
Positive
12.98
Positive
Market Momentum
0.21
Positive
58.44
Neutral
56.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0087, the sentiment is Positive. The current price of 11.67 is below the 20-day moving average (MA) of 15.29, below the 50-day MA of 14.37, and below the 200-day MA of 12.98, indicating a bullish trend. The MACD of 0.21 indicates Positive momentum. The RSI at 58.44 is Neutral, neither overbought nor oversold. The STOCH value of 56.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | HK$126.99B | 16.52 | 3.38% | 5.14% | 6.76% | 618.77% | |
64 Neutral | HK$15.11B | 7.44 | 4.00% | 6.44% | -28.06% | -23.13% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | HK$39.15B | 6.81 | 5.76% | 5.09% | 5.30% | 0.81% | |
59 Neutral | HK$265.23B | 7.03 | 6.62% | 3.33% | -2.34% | 388.55% | |
55 Neutral | HK$42.20B | -1.59 | -23.63% | 0.38% | -1.33% | -409.12% | |
48 Neutral | HK$395.63B | 5.75 | 8.21% | 4.90% | 12.61% | 10.92% |
* Industrials Sector Average
HK:0087
Swire Pacific Limited Class B
15.55
4.28
37.94%
HK:0392
Beijing Enterprises Holdings
31.80
-0.69
-2.11%
HK:0001
CK Hutchison Holdings
69.35
19.56
39.28%
HK:0267
CITIC
13.52
2.24
19.88%
HK:0656
Fosun International
5.11
-0.44
-7.93%
HK:0363
Shanghai Industrial Holdings
13.92
0.58
4.33%
Swire Pacific Limited Class B Corporate Events
Swire Pacific Declares First Interim Dividend for 2026
Aug 6, 2026
Swire Pacific Limited has declared a first interim ordinary dividend of HKD 0.30 per share for the financial year ending 31 December 2026, based on its results for the period to 30 June 2026. The dividend, payable in Hong Kong dollars, will go ex-...
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.