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Hong Kong conglomerate with interests in Coca-Cola bottling, property, Cathay Pacific airline, and aviation services.
Hong Kong conglomerate with interests in Coca-Cola bottling, property, Cathay Pacific airline, and aviation services.
A holding company: income is rent from its listed property arm Swire Properties, profits from Coca-Cola bottling in Hong Kong, mainland China, Taiwan and the US, and a share of Cathay Pacific's results, which swing with air travel. John Swire & Sons keeps control mainly through the B shares; these Class A shares carry less voting weight per unit of ownership.
In one line: A Hong Kong Berkshire-style diversified holding company.
Moat: narrow (scale, brand, distribution). Long-standing exclusive Coca-Cola bottling rights and prime Hong Kong property holdings anchor the group.
Headquarters: Hong Kong · Founded: 1816 · Employees: 45,798
Size Swire Pacific (0019.HK) is a Hong Kong Consumer Staples company (Beverages: Non-Alcoholic) with a market value of $17.0B, the 104th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$112.20 on 6 Nov 2026.
Performance Over six months the shares gained 23.2%, against +7.7% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 3rd highest of 17 in its peer set.
Growth Revenue grew 6.8% over the last twelve months (peer median +14.8%); the operating margin is 12.1% (peer median 13.0%).
Valuation It trades at 11.4× forward earnings against a peer median of 17.2× (cheapest of 16).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +4 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.6 points below its cost of capital (5.9% WACC).
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$94.1B | HK$90.5B | HK$82.0B | HK$94.8B | HK$91.2B |
| Revenue growth | — | +10% | -14% | +4% | — |
| Gross profit | HK$33.9B | HK$33.7B | HK$30.5B | HK$35.1B | HK$34.2B |
| EBITDA | HK$15.9B | HK$15.5B | HK$13.6B | HK$16.1B | HK$14.6B |
| Net income | HK$8.89B | HK$2.94B | HK$4.32B | HK$28.9B | HK$3.64B |
| Free cash flow | HK$11.0B | HK$8.96B | HK$6.05B | HK$6.48B | HK$5.04B |
| Capital expenditure | HK$4.96B | HK$5.70B | HK$4.57B | HK$3.60B | HK$3.43B |
| Total debt | n/a | HK$98.3B | HK$99.5B | HK$74.9B | HK$74.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Swire Pacific 0019.HK | $17.0B | +23% | +7% | 12% | 11.4× | 6.9% |
| Jardine Matheson J36.SI | $17.8B | -15% | -7% | 8% | 8.7× | 0.2% |
| Ckh 0001.HK | $34.3B | -2% | -2% | 11% | 11.3× | 1.2% |
| Wharf (Holdings) 0004.HK | $7.92B | -32% | -1% | 41% | 15.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0019.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.5% | +11.7% | 8th lowest of 17 |
| 6-month return | +23.2% | +7.7% | 3rd highest of 17 |
| Distance from 52-week high | -0.5% | -8.8% | highest of 17 |
| Revenue growth (TTM) | +6.8% | +14.8% | 4th lowest of 17 |
| Operating margin | 12.1% | 13.0% | 8th lowest of 17 |
| Forward P/E | 11.4× | 17.2× | cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | 6.9% | 1.5% | 5th most demanding of 17 |
| Growth delivered (Del g) | +2.9% | +12.5% | 3rd lowest of 17 |
| Hurdle (Req g minus delivered) | +4.0 pp | -15.0 pp | 3rd most demanding of 17 |
| ROIC minus cost of capital | -3.6 pp | +7.8 pp | lowest of 17 |
| EV / EBITDA | 16.5× | 10.3× | 3rd most expensive of 16 |
| Net debt / EBITDA | 4.6× | 1.2× | 2nd most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Swire Pacific 0019.HK | Hong Kong | $17.0B | +23% | +7% | 12% | 11.4× | 6.9% | +2.9% |
| Varun Beverages VBL.NS | India | $15.7B | -14% | +22% | 17% | 42.8× | 37.2% | +26.8% |
| Coca-Cola HBC CCH.L | United Kingdom | $20.5B | -2% | +13% | 11% | 17.2× | 4.9% | +12.8% |
| Coca-Cola Consolidated COKE | United States | $13.8B | +19% | +11% | 13% | n/a | -1.3% | +7.6% |
| Eastroc Beverage (Group) 9980.HK | Hong Kong | $11.7B | -40% | +18% | 26% | 13.2× | 3.2% | +32.2% |
| Fomento Economico Mexicano SAB de CV Sponsored ADR FMX | United States | $26.1B | +7% | +18% | 9% | 24.2× | -6.9% | +13.8% |
| Tingyi 0322.HK | Hong Kong | $9.59B | +17% | +4% | 9% | 14.1× | -12.9% | +2.4% |
| Suntory Beverage & Food 2587.T | Japan | $9.58B | +9% | +7% | 9% | 17.2× | -7.5% | +7.8% |
| Celsius CELH | United States | $8.14B | 0% | +83% | 19% | 22.7× | 7.6% | +80.7% |
| Primo Brands PRMB | United States | $8.10B | -4% | +28% | 10% | 16.2× | 9.2% | +27.8% |
| Coca-Cola FEMSA SAB de CV Sponsored ADR KOF | United States | $6.01B | +8% | +17% | 14% | 16.5× | -20.1% | +12.2% |
| Keurig Dr Pepper KDP | United States | $49.8B | +28% | +43% | 17% | 14.8× | 6.3% | +7.4% |
| Coca-Cola Europacific Partners CCEP | United States | $51.0B | +23% | +10% | 14% | 21.8× | 3.9% | +14.3% |
| Coca-Cola Bottlers Japan 2579.T | Japan | $4.60B | +31% | -2% | 4% | 31.7× | 8.4% | +2.4% |
| Uni-President China 0220.HK | Hong Kong | $4.56B | +12% | +4% | 8% | 14.0× | -8.3% | +6.1% |
| Nongfu Spring 9633.HK | Hong Kong | $64.9B | -1% | +27% | 38% | 24.0× | -0.2% | +17.3% |
| Embotelladora Andina S.A. Sponsored ADR Pfd AKO-B | United States | $4.26B | +7% | +10% | 13% | 14.6× | -4.2% | +10.4% |