FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA) Stock Fundamental Analysis

Canada • Toronto Stock Exchange • TSX:FCR-UN • CA31890B1031

20.33 CAD
+0.08 (+0.4%)
Last: Feb 9, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

Overall FCR-UN gets a fundamental rating of 4 out of 10. We evaluated FCR-UN against 38 industry peers in the Diversified REITs industry. FCR-UN has a medium profitability rating, but doesn't score so well on its financial health evaluation. FCR-UN is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • In the past year FCR-UN was profitable.
  • In the past year FCR-UN had a positive cash flow from operations.
  • In multiple years FCR-UN reported negative net income over the last 5 years.
  • FCR-UN had a positive operating cash flow in each of the past 5 years.
FCR-UN.CA Yearly Net Income VS EBIT VS OCF VS FCFFCR-UN.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M

1.2 Ratios

  • FCR-UN has a Return On Assets of 2.69%. This is in the better half of the industry: FCR-UN outperforms 68.42% of its industry peers.
  • FCR-UN has a better Return On Equity (6.13%) than 68.42% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 3.45%, FCR-UN is doing worse than 60.53% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for FCR-UN is below the industry average of 5.49%.
  • The last Return On Invested Capital (3.45%) for FCR-UN is above the 3 year average (3.29%), which is a sign of increasing profitability.
Industry RankSector 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%
FCR-UN.CA Yearly ROA, ROE, ROICFCR-UN.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10

1.3 Margins

  • FCR-UN's Profit Margin of 33.94% is fine compared to the rest of the industry. FCR-UN outperforms 78.95% of its industry peers.
  • FCR-UN's Profit Margin has declined in the last couple of years.
  • FCR-UN has a Operating Margin of 55.03%. This is in the better half of the industry: FCR-UN outperforms 60.53% of its industry peers.
  • FCR-UN's Operating Margin has been stable in the last couple of years.
  • Looking at the Gross Margin, with a value of 62.30%, FCR-UN is in line with its industry, outperforming 57.89% of the companies in the same industry.
  • FCR-UN's Gross Margin has been stable in the last couple of years.
Industry RankSector 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%
FCR-UN.CA Yearly Profit, Operating, Gross MarginsFCR-UN.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FCR-UN is destroying value.
  • Compared to 1 year ago, FCR-UN has about the same amount of shares outstanding.
  • The number of shares outstanding for FCR-UN has been reduced compared to 5 years ago.
  • FCR-UN has a worse debt/assets ratio than last year.
FCR-UN.CA Yearly Shares OutstandingFCR-UN.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
FCR-UN.CA Yearly Total Debt VS Total AssetsFCR-UN.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.2 Solvency

  • FCR-UN has an Altman-Z score of 0.87. This is a bad value and indicates that FCR-UN is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of FCR-UN (0.87) is better 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.
  • With a Debt to FCF ratio value of 18.56, FCR-UN perfoms like the industry average, outperforming 42.11% of the companies in the same industry.
  • FCR-UN has a Debt/Equity ratio of 0.86. This is a neutral value indicating FCR-UN is somewhat dependend on debt financing.
  • FCR-UN has a Debt to Equity ratio of 0.86. This is in the better half of the industry: FCR-UN outperforms 71.05% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.86
Debt/FCF 18.56
Altman-Z 0.87
ROIC/WACC0.62
WACC5.58%
FCR-UN.CA Yearly LT Debt VS Equity VS FCFFCR-UN.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.3 Liquidity

  • A Current Ratio of 0.66 indicates that FCR-UN may have some problems paying its short term obligations.
  • With a decent Current ratio value of 0.66, FCR-UN is doing good in the industry, outperforming 76.32% of the companies in the same industry.
  • 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.
  • FCR-UN has a better Quick ratio (0.34) than 68.42% of its industry peers.
Industry RankSector Rank
Current Ratio 0.66
Quick Ratio 0.34
FCR-UN.CA Yearly Current Assets VS Current LiabilitesFCR-UN.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. Growth

3.1 Past

  • FCR-UN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -29.16%.
  • Measured over the past years, FCR-UN shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -11.28% on average per year.
  • The Revenue has been growing slightly by 3.11% in the past 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

  • Based on estimates for the next years, FCR-UN will show a small growth in Earnings Per Share. The EPS will grow by 7.01% on average per year.
  • Based on estimates for the next years, FCR-UN will show a small growth in Revenue. The Revenue will grow by 1.68% on average per year.
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

  • 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.
FCR-UN.CA Yearly Revenue VS EstimatesFCR-UN.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M
FCR-UN.CA Yearly EPS VS EstimatesFCR-UN.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 -1 2

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3

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 17.68, the valuation of FCR-UN can be described as rather expensive.
  • Based on the Price/Earnings ratio, FCR-UN is valued a bit cheaper than the industry average as 65.79% of the companies are valued more expensively.
  • The average S&P500 Price/Earnings ratio is at 28.06. FCR-UN is valued slightly cheaper when compared to this.
  • The Price/Forward Earnings ratio is 15.48, which indicates a correct valuation of FCR-UN.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of FCR-UN is on the same level as its industry peers.
  • When comparing the Price/Forward Earnings ratio of FCR-UN to the average of the S&P500 Index (27.86), we can say FCR-UN is valued slightly cheaper.
Industry RankSector Rank
PE 17.68
Fwd PE 15.48
FCR-UN.CA Price Earnings VS Forward Price EarningsFCR-UN.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

  • 63.16% of the companies in the same industry are more expensive than FCR-UN, based on the Enterprise Value to EBITDA ratio.
  • 60.53% of the companies in the same industry are cheaper than FCR-UN, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 19.78
EV/EBITDA 20.67
FCR-UN.CA Per share dataFCR-UN.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.03
PEG (5Y)N/A
EPS Next 2Y8.22%
EPS Next 3Y7.01%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

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 7.11.
  • Compared to an average S&P500 Dividend Yield of 1.80, FCR-UN pays a better dividend.
Industry RankSector 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 been paying a dividend for at least 10 years, so it has 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
FCR-UN.CA Yearly Dividends per shareFCR-UN.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8

5.3 Sustainability

  • 75.58% of the earnings are spent on dividend by FCR-UN. This is not a sustainable payout ratio.
  • The dividend of FCR-UN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP75.58%
EPS Next 2Y8.22%
EPS Next 3Y7.01%
FCR-UN.CA Yearly Income VS Free CF VS DividendFCR-UN.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M
FCR-UN.CA Dividend Payout.FCR-UN.CA Dividend Payout, showing the Payout Ratio.FCR-UN.CA Dividend Payout.PayoutRetained Earnings

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FIRST CAPITAL REAL ESTATE IN

TSX:FCR-UN (2/9/2026, 7:00:00 PM)

20.33

+0.08 (+0.4%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)11-04
Earnings (Next)02-10
Inst Owners48.43%
Inst Owner ChangeN/A
Ins Owners0.59%
Ins Owner ChangeN/A
Market Cap4.32B
Revenue(TTM)726.23M
Net Income(TTM)246.51M
Analysts75.71
Price Target22.11 (8.76%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.67%
Yearly Dividend0.87
Dividend Growth(5Y)0.08%
DP75.58%
Div Incr Years3
Div Non Decr Years3
Ex-Date01-30
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)0.7%
PT rev (3m)2.24%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-0.76%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.71%
Valuation
Industry RankSector Rank
PE 17.68
Fwd PE 15.48
P/S 5.95
P/FCF 19.78
P/OCF 19.78
P/B 1.07
P/tB 1.07
EV/EBITDA 20.67
EPS(TTM)1.15
EY5.66%
EPS(NY)1.31
Fwd EY6.46%
FCF(TTM)1.03
FCFY5.06%
OCF(TTM)1.03
OCFY5.06%
SpS3.42
BVpS18.92
TBVpS18.92
PEG (NY)1.03
PEG (5Y)N/A
Graham Number22.13
Profitability
Industry RankSector 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 RankSector 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 0.87
F-Score4
WACC5.58%
ROIC/WACC0.62
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.


Can you provide the valuation status for FIRST CAPITAL REAL ESTATE IN?

ChartMill assigns a valuation rating of 3 / 10 to FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA). This can be considered as Overvalued.


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.


What are the PE and PB ratios of FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA) stock?

The Price/Earnings (PE) ratio for FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA) is 17.68 and the Price/Book (PB) ratio is 1.07.


Can you provide the dividend sustainability for FCR-UN stock?

The dividend rating of FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA) is 6 / 10 and the dividend payout ratio is 75.58%.