FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA) Stock Fundamental Analysis
Canada - Toronto Stock Exchange - TSX:FCR-UN - CA31890B1031 - REIT
18.79 CAD
-0.06 (-0.32%)
Taking everything into account, FCR-UN scores 4 out of 10 in our fundamental rating. FCR-UN was compared to 38 industry peers in the Diversified REITs industry. While FCR-UN is still in line with the averages on profitability rating, there are concerns on its financial health. FCR-UN has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
In the past year FCR-UN was profitable.
FCR-UN had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: FCR-UN reported negative net income in multiple years.
FCR-UN had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
FCR-UN's Return On Assets of 2.69% is fine compared to the rest of the industry. FCR-UN outperforms 68.42% of its industry peers.
Looking at the Return On Equity, with a value of 6.13%, FCR-UN is in the better half of the industry, outperforming 68.42% of the companies in the same industry.
FCR-UN's Return On Invested Capital of 3.45% is on the low side compared to the rest of the industry. FCR-UN is outperformed by 60.53% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for FCR-UN is below the industry average of 5.49%.
The 3 year average ROIC (3.29%) for FCR-UN is below the current ROIC(3.45%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.69% | ||
| ROE | 6.13% | ||
| ROIC | 3.45% |
ROA(3y)-0.3%
ROA(5y)0.74%
ROE(3y)-0.65%
ROE(5y)1.61%
ROIC(3y)3.29%
ROIC(5y)3.06%
1.3 Margins
Looking at the Profit Margin, with a value of 33.94%, FCR-UN is in the better half of the industry, outperforming 78.95% of the companies in the same industry.
In the last couple of years the Profit Margin of FCR-UN has declined.
FCR-UN's Operating Margin of 55.03% is fine compared to the rest of the industry. FCR-UN outperforms 60.53% of its industry peers.
In the last couple of years the Operating Margin of FCR-UN has remained more or less at the same level.
FCR-UN has a Gross Margin (62.30%) which is in line with its industry peers.
In the last couple of years the Gross Margin of FCR-UN has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 55.03% | ||
| PM (TTM) | 33.94% | ||
| GM | 62.3% |
OM growth 3Y2.04%
OM growth 5Y0.78%
PM growth 3Y-25.03%
PM growth 5Y-11.78%
GM growth 3Y1.22%
GM growth 5Y0.46%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so FCR-UN is destroying value.
Compared to 1 year ago, FCR-UN has about the same amount of shares outstanding.
Compared to 5 years ago, FCR-UN has less shares outstanding
FCR-UN has a worse debt/assets ratio than last year.
2.2 Solvency
FCR-UN has an Altman-Z score of 0.84. This is a bad value and indicates that FCR-UN is not financially healthy and even has some risk of bankruptcy.
FCR-UN has a better Altman-Z score (0.84) than 78.95% of its industry peers.
FCR-UN has a debt to FCF ratio of 18.56. This is a negative value and a sign of low solvency as FCR-UN would need 18.56 years to pay back of all of its debts.
FCR-UN has a Debt to FCF ratio of 18.56. This is comparable to the rest of the industry: FCR-UN outperforms 42.11% of its industry peers.
A Debt/Equity ratio of 0.86 indicates that FCR-UN is somewhat dependend on debt financing.
The Debt to Equity ratio of FCR-UN (0.86) is better than 71.05% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.86 | ||
| Debt/FCF | 18.56 | ||
| Altman-Z | 0.84 |
ROIC/WACC0.63
WACC5.44%
2.3 Liquidity
FCR-UN has a Current Ratio of 0.66. This is a bad value and indicates that FCR-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
FCR-UN's Current ratio of 0.66 is fine compared to the rest of the industry. FCR-UN outperforms 76.32% of its industry peers.
FCR-UN has a Quick Ratio of 0.66. This is a bad value and indicates that FCR-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
With a decent Quick ratio value of 0.34, FCR-UN is doing good in the industry, outperforming 68.42% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.66 | ||
| Quick Ratio | 0.34 |
3. Growth
3.1 Past
The earnings per share for FCR-UN have decreased strongly by -29.16% in the last year.
FCR-UN shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -11.28% yearly.
Looking at the last year, FCR-UN shows a small growth in Revenue. The Revenue has grown by 3.11% in the last year.
FCR-UN shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -0.91% yearly.
EPS 1Y (TTM)-29.16%
EPS 3Y-22.81%
EPS 5Y-11.28%
EPS Q2Q%-18.42%
Revenue 1Y (TTM)3.11%
Revenue growth 3Y1.87%
Revenue growth 5Y-0.91%
Sales Q2Q%4.18%
3.2 Future
The Earnings Per Share is expected to grow by 7.01% on average over the next years.
FCR-UN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.68% yearly.
EPS Next Y17.12%
EPS Next 2Y8.22%
EPS Next 3Y7.01%
EPS Next 5YN/A
Revenue Next Year3.11%
Revenue Next 2Y1.88%
Revenue Next 3Y1.68%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
FCR-UN is valuated correctly with a Price/Earnings ratio of 16.34.
Compared to the rest of the industry, the Price/Earnings ratio of FCR-UN indicates a somewhat cheap valuation: FCR-UN is cheaper than 65.79% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 26.57. FCR-UN is valued slightly cheaper when compared to this.
With a Price/Forward Earnings ratio of 14.31, FCR-UN is valued correctly.
FCR-UN's Price/Forward Earnings is on the same level as the industry average.
When comparing the Price/Forward Earnings ratio of FCR-UN to the average of the S&P500 Index (24.04), we can say FCR-UN is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.34 | ||
| Fwd PE | 14.31 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, FCR-UN is valued a bit cheaper than 63.16% of the companies in the same industry.
60.53% of the companies in the same industry are cheaper than FCR-UN, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 18.28 | ||
| EV/EBITDA | 19.9 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.95
PEG (5Y)N/A
EPS Next 2Y8.22%
EPS Next 3Y7.01%
5. Dividend
5.1 Amount
FCR-UN has a Yearly Dividend Yield of 5.67%, which is a nice return.
Compared to an average industry Dividend Yield of 7.11, FCR-UN is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 1.88, FCR-UN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.67% |
5.2 History
The dividend of FCR-UN has a limited annual growth rate of 0.08%.
FCR-UN has paid a dividend for at least 10 years, which is a reliable track record.
FCR-UN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)0.08%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
75.58% of the earnings are spent on dividend by FCR-UN. This is not a sustainable payout ratio.
FCR-UN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP75.58%
EPS Next 2Y8.22%
EPS Next 3Y7.01%
TSX:FCR-UN (12/24/2025, 7:00:00 PM)
18.79
-0.06 (-0.32%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners48.39%
Inst Owner ChangeN/A
Ins Owners0.59%
Ins Owner ChangeN/A
Market Cap3.99B
Revenue(TTM)726.23M
Net Income(TTM)246.51M
Analysts75.71
Price Target21.9 (16.55%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.67% |
Yearly Dividend0.87
Dividend Growth(5Y)0.08%
DP75.58%
Div Incr Years3
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)1.3%
PT rev (3m)2.02%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.76%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.71%
Revenue NY rev (3m)0.71%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.34 | ||
| Fwd PE | 14.31 | ||
| P/S | 5.5 | ||
| P/FCF | 18.28 | ||
| P/OCF | 18.28 | ||
| P/B | 0.99 | ||
| P/tB | 0.99 | ||
| EV/EBITDA | 19.9 |
EPS(TTM)1.15
EY6.12%
EPS(NY)1.31
Fwd EY6.99%
FCF(TTM)1.03
FCFY5.47%
OCF(TTM)1.03
OCFY5.47%
SpS3.42
BVpS18.92
TBVpS18.92
PEG (NY)0.95
PEG (5Y)N/A
Graham Number22.13
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.69% | ||
| ROE | 6.13% | ||
| ROCE | 4.79% | ||
| ROIC | 3.45% | ||
| ROICexc | 3.46% | ||
| ROICexgc | 3.46% | ||
| OM | 55.03% | ||
| PM (TTM) | 33.94% | ||
| GM | 62.3% | ||
| FCFM | 30.07% |
ROA(3y)-0.3%
ROA(5y)0.74%
ROE(3y)-0.65%
ROE(5y)1.61%
ROIC(3y)3.29%
ROIC(5y)3.06%
ROICexc(3y)3.29%
ROICexc(5y)3.08%
ROICexgc(3y)3.29%
ROICexgc(5y)3.08%
ROCE(3y)4.56%
ROCE(5y)4.26%
ROICexgc growth 3Y7.33%
ROICexgc growth 5Y2.6%
ROICexc growth 3Y7.33%
ROICexc growth 5Y2.6%
OM growth 3Y2.04%
OM growth 5Y0.78%
PM growth 3Y-25.03%
PM growth 5Y-11.78%
GM growth 3Y1.22%
GM growth 5Y0.46%
F-Score4
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.86 | ||
| Debt/FCF | 18.56 | ||
| Debt/EBITDA | 8.58 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.68 | ||
| Cash Conversion | 54.3% | ||
| Profit Quality | 88.58% | ||
| Current Ratio | 0.66 | ||
| Quick Ratio | 0.34 | ||
| Altman-Z | 0.84 |
F-Score4
WACC5.44%
ROIC/WACC0.63
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-29.16%
EPS 3Y-22.81%
EPS 5Y-11.28%
EPS Q2Q%-18.42%
EPS Next Y17.12%
EPS Next 2Y8.22%
EPS Next 3Y7.01%
EPS Next 5YN/A
Revenue 1Y (TTM)3.11%
Revenue growth 3Y1.87%
Revenue growth 5Y-0.91%
Sales Q2Q%4.18%
Revenue Next Year3.11%
Revenue Next 2Y1.88%
Revenue Next 3Y1.68%
Revenue Next 5YN/A
EBIT growth 1Y-0.45%
EBIT growth 3Y3.96%
EBIT growth 5Y-0.13%
EBIT Next Year6.59%
EBIT Next 3Y3.15%
EBIT Next 5YN/A
FCF growth 1Y1.82%
FCF growth 3Y-2.16%
FCF growth 5Y-2.77%
OCF growth 1Y1.82%
OCF growth 3Y-2.16%
OCF growth 5Y-2.77%
FIRST CAPITAL REAL ESTATE IN / FCR-UN.CA FAQ
Can you provide the ChartMill fundamental rating for FIRST CAPITAL REAL ESTATE IN?
ChartMill assigns a fundamental rating of 4 / 10 to FCR-UN.CA.
What is the valuation status for FCR-UN stock?
ChartMill assigns a valuation rating of 4 / 10 to FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA). This can be considered as Fairly Valued.
Can you provide the profitability details for FIRST CAPITAL REAL ESTATE IN?
FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA) has a profitability rating of 5 / 10.
How financially healthy is FIRST CAPITAL REAL ESTATE IN?
The financial health rating of FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA) is 3 / 10.
What is the earnings growth outlook for FIRST CAPITAL REAL ESTATE IN?
The Earnings per Share (EPS) of FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA) is expected to grow by 17.12% in the next year.