FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA) Stock Fundamental Analysis
Canada - Toronto Stock Exchange - TSX:FCR-UN - CA31890B1031 - REIT
19.09 CAD
+0.12 (+0.63%)
We assign a fundamental rating of 4 out of 10 to FCR-UN. FCR-UN was compared to 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 has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
FCR-UN had positive earnings in the past year.
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.
Each year in the past 5 years FCR-UN had a positive operating cash flow.
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.
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 has a Return On Invested Capital of 3.45%. This is in the lower half of the industry: FCR-UN underperforms 60.53% of its industry peers.
The Average Return On Invested Capital over the past 3 years 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
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.
In the last couple of years the Profit Margin of FCR-UN has declined.
The Operating Margin of FCR-UN (55.03%) is better than 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's Gross Margin of 62.30% is in line compared to the rest of the industry. FCR-UN outperforms 57.89% of 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.
The number of shares outstanding for FCR-UN has been reduced compared to 5 years ago.
The debt/assets ratio for FCR-UN is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.84, we must say that FCR-UN is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of FCR-UN (0.84) is better than 81.58% of its industry peers.
The Debt to FCF ratio of FCR-UN is 18.56, which is on the high side as it means it would take FCR-UN, 18.56 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 18.56, FCR-UN is in line with its industry, 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.
With a decent Debt to Equity ratio value of 0.86, FCR-UN is doing good in the industry, outperforming 71.05% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.86 | ||
| Debt/FCF | 18.56 | ||
| Altman-Z | 0.84 |
ROIC/WACC0.63
WACC5.43%
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.
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.
Looking at the Quick ratio, with a value of 0.34, FCR-UN is in the better half of 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
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.
FCR-UN shows a small growth in Revenue. In the last year, the Revenue has grown by 3.11%.
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
The Price/Earnings ratio is 16.60, which indicates a correct valuation of FCR-UN.
FCR-UN's Price/Earnings ratio is a bit cheaper when compared to the industry. FCR-UN is cheaper than 65.79% of the companies in the same industry.
When comparing the Price/Earnings ratio of FCR-UN to the average of the S&P500 Index (26.43), we can say FCR-UN is valued slightly cheaper.
FCR-UN is valuated correctly with a Price/Forward Earnings ratio of 14.54.
FCR-UN's Price/Forward Earnings ratio is in line with the industry average.
FCR-UN's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 23.66.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.6 | ||
| Fwd PE | 14.54 |
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.
FCR-UN's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. FCR-UN is more expensive than 65.79% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 18.57 | ||
| EV/EBITDA | 20.06 |
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)0.97
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.
FCR-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.87.
| 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 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
5.3 Sustainability
FCR-UN pays out 75.58% 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.
DP75.58%
EPS Next 2Y8.22%
EPS Next 3Y7.01%
TSX:FCR-UN (12/16/2025, 7:00:00 PM)
19.09
+0.12 (+0.63%)
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 Cap4.06B
Revenue(TTM)726.23M
Net Income(TTM)246.51M
Analysts75.71
Price Target21.9 (14.72%)
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 | 16.6 | ||
| Fwd PE | 14.54 | ||
| P/S | 5.58 | ||
| P/FCF | 18.57 | ||
| P/OCF | 18.57 | ||
| P/B | 1.01 | ||
| P/tB | 1.01 | ||
| EV/EBITDA | 20.06 |
EPS(TTM)1.15
EY6.02%
EPS(NY)1.31
Fwd EY6.88%
FCF(TTM)1.03
FCFY5.38%
OCF(TTM)1.03
OCFY5.38%
SpS3.42
BVpS18.92
TBVpS18.92
PEG (NY)0.97
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
WACC5.43%
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.