FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA) Stock Fundamental Analysis
Canada - Toronto Stock Exchange - TSX:FCR-UN - CA31890B1031 - REIT
18.84 CAD
+0.16 (+0.86%)
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 is valued correctly, but it does not seem to be growing.
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.
The reported net income has been mixed in the past 5 years: FCR-UN reported negative net income in multiple years.
Each year in the past 5 years FCR-UN had a positive operating cash flow.
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.
The Return On Equity of FCR-UN (6.13%) is better than 68.42% of its industry peers.
FCR-UN has a worse Return On Invested Capital (3.45%) than 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 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 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 has a Profit Margin of 33.94%. This is in the better half 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.
With a decent Operating Margin value of 55.03%, FCR-UN is doing good in the industry, outperforming 60.53% of the companies in the same industry.
FCR-UN's Operating Margin has been stable in the last couple of years.
With a Gross Margin value of 62.30%, FCR-UN perfoms like the industry average, outperforming 57.89% of the companies in the same industry.
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
FCR-UN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for FCR-UN remains at a similar level compared to 1 year ago.
Compared to 5 years ago, FCR-UN has less shares outstanding
Compared to 1 year ago, FCR-UN has a worse debt to assets ratio.
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.
Looking at the Altman-Z score, with a value of 0.84, FCR-UN belongs to the top of the industry, outperforming 84.21% of the companies in the same industry.
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.
FCR-UN's Debt to FCF ratio of 18.56 is in line compared 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.
FCR-UN's Debt to Equity ratio of 0.86 is fine compared to the rest of the industry. FCR-UN outperforms 71.05% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.86 | ||
| Debt/FCF | 18.56 | ||
| Altman-Z | 0.84 |
ROIC/WACC0.64
WACC5.41%
2.3 Liquidity
A Current Ratio of 0.66 indicates that FCR-UN may have some problems paying its short term obligations.
The Current ratio of FCR-UN (0.66) is better than 76.32% of its industry peers.
A Quick Ratio of 0.34 indicates that FCR-UN may have some problems paying its short term obligations.
FCR-UN has a Quick ratio of 0.34. This is in the better half of the industry: FCR-UN outperforms 68.42% of its industry peers.
| 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%.
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.
The Revenue has been growing slightly by 3.11% in the past year.
Measured over the past years, FCR-UN shows a decrease in Revenue. The Revenue has been decreasing by -0.91% on average per year.
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
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.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
FCR-UN is valuated correctly with a Price/Earnings ratio of 16.38.
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.
Compared to an average S&P500 Price/Earnings ratio of 26.28, FCR-UN is valued a bit cheaper.
A Price/Forward Earnings ratio of 14.35 indicates a correct valuation of FCR-UN.
FCR-UN's Price/Forward Earnings is on the same level as the industry average.
FCR-UN is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 23.52, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.38 | ||
| Fwd PE | 14.35 |
4.2 Price Multiples
FCR-UN's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. FCR-UN is cheaper than 63.16% of the companies 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 63.16% of the companies are valued more cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 18.33 | ||
| EV/EBITDA | 19.93 |
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)0.96
PEG (5Y)N/A
EPS Next 2Y8.22%
EPS Next 3Y7.01%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.67%, FCR-UN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 7.95, 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 2.31.
| 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 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 (12/8/2025, 7:00:00 PM)
18.84
+0.16 (+0.86%)
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 Cap4.00B
Revenue(TTM)726.23M
Net Income(TTM)246.51M
Analysts75.71
Price Target21.9 (16.24%)
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)2.63%
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)0.23%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.38 | ||
| Fwd PE | 14.35 | ||
| P/S | 5.51 | ||
| P/FCF | 18.33 | ||
| P/OCF | 18.33 | ||
| P/B | 1 | ||
| P/tB | 1 | ||
| EV/EBITDA | 19.93 |
EPS(TTM)1.15
EY6.1%
EPS(NY)1.31
Fwd EY6.97%
FCF(TTM)1.03
FCFY5.46%
OCF(TTM)1.03
OCFY5.46%
SpS3.42
BVpS18.92
TBVpS18.92
PEG (NY)0.96
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
WACC5.41%
ROIC/WACC0.64
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.