FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA) Stock Fundamental Analysis
Canada - TSX:FCR-UN - CA31890B1031 - REIT
19.18 CAD
-0.2 (-1.03%)
FCR-UN gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 37 industry peers in the Diversified REITs industry. FCR-UN has only an average score on both its financial health and profitability. FCR-UN has a decent growth rate and is not valued too expensively.
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.
In the past 5 years FCR-UN always reported a positive cash flow from operatings.
1.2 Ratios
With an excellent Return On Assets value of 2.78%, FCR-UN belongs to the best of the industry, outperforming 86.49% of the companies in the same industry.
The Return On Equity of FCR-UN (6.53%) is better than 86.49% of its industry peers.
FCR-UN has a Return On Invested Capital of 3.53%. This is in the lower half of the industry: FCR-UN underperforms 64.86% of its industry peers.
FCR-UN had an Average Return On Invested Capital over the past 3 years of 3.29%. This is below the industry average of 5.56%.
The last Return On Invested Capital (3.53%) for FCR-UN is above the 3 year average (3.29%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.78% | ||
| ROE | 6.53% | ||
| ROIC | 3.53% |
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
FCR-UN's Profit Margin of 36.32% is amongst the best of the industry. FCR-UN outperforms 86.49% of its industry peers.
FCR-UN's Profit Margin has declined in the last couple of years.
FCR-UN's Operating Margin of 56.03% is fine compared to the rest of the industry. FCR-UN outperforms 64.86% of its industry peers.
FCR-UN's Operating Margin has been stable in the last couple of years.
The Gross Margin of FCR-UN (62.37%) is comparable to the rest of the industry.
FCR-UN's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 56.03% | ||
| PM (TTM) | 36.32% | ||
| GM | 62.37% |
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.
FCR-UN has about the same amout of shares outstanding than it did 1 year ago.
FCR-UN has less shares outstanding than it did 5 years ago.
The debt/assets ratio for FCR-UN is higher compared to a year ago.
2.2 Solvency
FCR-UN has an Altman-Z score of 0.81. 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 Altman-Z score of 0.81. This is amongst the best in the industry. FCR-UN outperforms 81.08% of its industry peers.
The Debt to FCF ratio of FCR-UN is 19.36, which is on the high side as it means it would take FCR-UN, 19.36 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of FCR-UN (19.36) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.83 indicates that FCR-UN is somewhat dependend on debt financing.
FCR-UN has a Debt to Equity ratio of 0.83. This is in the better half of the industry: FCR-UN outperforms 72.97% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.83 | ||
| Debt/FCF | 19.36 | ||
| Altman-Z | 0.81 |
ROIC/WACC0.6
WACC5.86%
2.3 Liquidity
A Current Ratio of 0.72 indicates that FCR-UN may have some problems paying its short term obligations.
FCR-UN has a better Current ratio (0.72) than 86.49% of its industry peers.
A Quick Ratio of 0.50 indicates that FCR-UN may have some problems paying its short term obligations.
With a decent Quick ratio value of 0.50, FCR-UN is doing good in the industry, outperforming 78.38% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.72 | ||
| Quick Ratio | 0.5 |
3. Growth
3.1 Past
FCR-UN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 520.34%, which is quite impressive.
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 2.82% in the last year.
The Revenue has been decreasing by -0.91% on average over the past years.
EPS 1Y (TTM)520.34%
EPS 3Y-22.81%
EPS 5Y-11.28%
EPS Q2Q%273.7%
Revenue 1Y (TTM)2.82%
Revenue growth 3Y1.87%
Revenue growth 5Y-0.91%
Sales Q2Q%2.24%
3.2 Future
The Earnings Per Share is expected to grow by 6.21% on average over the next years.
The Revenue is expected to grow by 2.32% on average over the next years.
EPS Next Y17.12%
EPS Next 2Y9.05%
EPS Next 3Y6.21%
EPS Next 5YN/A
Revenue Next Year2.39%
Revenue Next 2Y1.5%
Revenue Next 3Y2.32%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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
With a Price/Earnings ratio of 15.72, FCR-UN is valued correctly.
Compared to the rest of the industry, the Price/Earnings ratio of FCR-UN indicates a somewhat cheap valuation: FCR-UN is cheaper than 75.68% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of FCR-UN to the average of the S&P500 Index (27.20), we can say FCR-UN is valued slightly cheaper.
With a Price/Forward Earnings ratio of 14.39, FCR-UN is valued correctly.
FCR-UN's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 22.70. FCR-UN is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.72 | ||
| Fwd PE | 14.39 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FCR-UN indicates a somewhat cheap valuation: FCR-UN is cheaper than 67.57% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, FCR-UN is valued a bit more expensive than the industry average as 62.16% of the companies are valued more cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 18.44 | ||
| EV/EBITDA | 20.02 |
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.
FCR-UN has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.92
PEG (5Y)N/A
EPS Next 2Y9.05%
EPS Next 3Y6.21%
5. Dividend
5.1 Amount
FCR-UN has a Yearly Dividend Yield of 5.67%, which is a nice return.
FCR-UN's Dividend Yield is slightly below the industry average, which is at 7.90.
Compared to an average S&P500 Dividend Yield of 2.38, 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
FCR-UN pays out 71.15% of its income as dividend. This is not a sustainable payout ratio.
FCR-UN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP71.15%
EPS Next 2Y9.05%
EPS Next 3Y6.21%
TSX:FCR-UN (9/17/2025, 7:00:00 PM)
19.18
-0.2 (-1.03%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners48.73%
Inst Owner ChangeN/A
Ins Owners0.49%
Ins Owner ChangeN/A
Market Cap4.07B
Analysts75.71
Price Target21.47 (11.94%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.67% |
Yearly Dividend0.87
Dividend Growth(5Y)0.08%
DP71.15%
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)0.6%
PT rev (3m)6.18%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)8.33%
EPS NY rev (3m)8.33%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.79%
Revenue NY rev (3m)-0.09%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.72 | ||
| Fwd PE | 14.39 | ||
| P/S | 5.67 | ||
| P/FCF | 18.44 | ||
| P/OCF | 18.44 | ||
| P/B | 1.02 | ||
| P/tB | 1.02 | ||
| EV/EBITDA | 20.02 |
EPS(TTM)1.22
EY6.36%
EPS(NY)1.33
Fwd EY6.95%
FCF(TTM)1.04
FCFY5.42%
OCF(TTM)1.04
OCFY5.42%
SpS3.38
BVpS18.83
TBVpS18.83
PEG (NY)0.92
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.78% | ||
| ROE | 6.53% | ||
| ROCE | 4.91% | ||
| ROIC | 3.53% | ||
| ROICexc | 3.66% | ||
| ROICexgc | 3.66% | ||
| OM | 56.03% | ||
| PM (TTM) | 36.32% | ||
| GM | 62.37% | ||
| FCFM | 30.74% |
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%
ROICexcg growth 3Y7.33%
ROICexcg 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-Score6
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.83 | ||
| Debt/FCF | 19.36 | ||
| Debt/EBITDA | 8.2 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.53 | ||
| Cash Conversion | 54.51% | ||
| Profit Quality | 84.64% | ||
| Current Ratio | 0.72 | ||
| Quick Ratio | 0.5 | ||
| Altman-Z | 0.81 |
F-Score6
WACC5.86%
ROIC/WACC0.6
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)520.34%
EPS 3Y-22.81%
EPS 5Y-11.28%
EPS Q2Q%273.7%
EPS Next Y17.12%
EPS Next 2Y9.05%
EPS Next 3Y6.21%
EPS Next 5YN/A
Revenue 1Y (TTM)2.82%
Revenue growth 3Y1.87%
Revenue growth 5Y-0.91%
Sales Q2Q%2.24%
Revenue Next Year2.39%
Revenue Next 2Y1.5%
Revenue Next 3Y2.32%
Revenue Next 5YN/A
EBIT growth 1Y-0.23%
EBIT growth 3Y3.96%
EBIT growth 5Y-0.13%
EBIT Next Year3.66%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-1.94%
FCF growth 3Y-2.16%
FCF growth 5Y-2.77%
OCF growth 1Y-1.94%
OCF growth 3Y-2.16%
OCF growth 5Y-2.77%