FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA) Stock Fundamental Analysis
Canada - Toronto Stock Exchange - TSX:FCR-UN - CA31890B1031 - REIT
19.5 CAD
+0.2 (+1.04%)
Overall FCR-UN gets a fundamental rating of 4 out of 10. We evaluated FCR-UN against 37 industry peers in the Diversified REITs industry. Both the profitability and the financial health of FCR-UN get a neutral evaluation. Nothing too spectacular is happening here. 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.
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
FCR-UN has a better Return On Assets (2.69%) than 67.57% of its industry peers.
FCR-UN's Return On Equity of 6.13% is fine compared to the rest of the industry. FCR-UN outperforms 67.57% of its industry peers.
FCR-UN's Return On Invested Capital of 3.45% is in line compared to the rest of the industry. FCR-UN outperforms 40.54% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for FCR-UN is in line with the industry average of 4.98%.
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 has a better Profit Margin (33.94%) than 78.38% of its industry peers.
In the last couple of years the Profit Margin of FCR-UN has declined.
FCR-UN has a Operating Margin (55.03%) which is in line with 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 56.76% 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.
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 0.85, we must say that FCR-UN is in the distress zone and has some risk of bankruptcy.
With an excellent Altman-Z score value of 0.85, FCR-UN belongs to the best of the industry, outperforming 81.08% 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.
With a Debt to FCF ratio value of 18.56, FCR-UN perfoms like the industry average, outperforming 40.54% 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.
The Debt to Equity ratio of FCR-UN (0.86) is better than 72.97% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.86 | ||
| Debt/FCF | 18.56 | ||
| Altman-Z | 0.85 |
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.
FCR-UN has a Current ratio of 0.66. This is amongst the best in the industry. FCR-UN outperforms 83.78% 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 67.57% 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.
The earnings per share for FCR-UN have been decreasing by -11.28% on average. This is quite bad
The Revenue has been growing slightly by 3.11% in the past year.
The Revenue has been decreasing by -0.91% on average over the past years.
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 6.21% 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 2.32% on average per year.
EPS Next Y18.02%
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
Based on the Price/Earnings ratio of 16.96, the valuation of FCR-UN can be described as correct.
Compared to the rest of the industry, the Price/Earnings ratio of FCR-UN indicates a somewhat cheap valuation: FCR-UN is cheaper than 64.86% 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 (25.45), we can say FCR-UN is valued slightly cheaper.
The Price/Forward Earnings ratio is 14.63, which indicates a correct valuation of FCR-UN.
FCR-UN's Price/Forward Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 34.46, FCR-UN is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.96 | ||
| Fwd PE | 14.63 |
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 62.16% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of FCR-UN indicates a slightly more expensive valuation: FCR-UN is more expensive than 67.57% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 18.97 | ||
| EV/EBITDA | 20.27 |
4.3 Compensation for Growth
FCR-UN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.94
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 7.95.
FCR-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.42.
| 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 2Y9.05%
EPS Next 3Y6.21%
TSX:FCR-UN (11/21/2025, 7:00:00 PM)
19.5
+0.2 (+1.04%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners48.33%
Inst Owner ChangeN/A
Ins Owners0.49%
Ins Owner ChangeN/A
Market Cap4.14B
Revenue(TTM)726.23M
Net Income(TTM)246.51M
Analysts75.71
Price Target21.9 (12.31%)
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)2.02%
PT rev (3m)2.63%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0.77%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.48%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.96 | ||
| Fwd PE | 14.63 | ||
| P/S | 5.7 | ||
| P/FCF | 18.97 | ||
| P/OCF | 18.97 | ||
| P/B | 1.03 | ||
| P/tB | 1.03 | ||
| EV/EBITDA | 20.27 |
EPS(TTM)1.15
EY5.9%
EPS(NY)1.33
Fwd EY6.84%
FCF(TTM)1.03
FCFY5.27%
OCF(TTM)1.03
OCFY5.27%
SpS3.42
BVpS18.92
TBVpS18.92
PEG (NY)0.94
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 | 0.85 |
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 Y18.02%
EPS Next 2Y9.05%
EPS Next 3Y6.21%
EPS Next 5YN/A
Revenue 1Y (TTM)3.11%
Revenue growth 3Y1.87%
Revenue growth 5Y-0.91%
Sales Q2Q%4.18%
Revenue Next Year2.39%
Revenue Next 2Y1.5%
Revenue Next 3Y2.32%
Revenue Next 5YN/A
EBIT growth 1Y-0.45%
EBIT growth 3Y3.96%
EBIT growth 5Y-0.13%
EBIT Next Year6.32%
EBIT Next 3Y4.02%
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 5 / 10 to FCR-UN.CA.
What is the valuation status for FCR-UN stock?
ChartMill assigns a valuation rating of 5 / 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 6 / 10.
How financially healthy is FIRST CAPITAL REAL ESTATE IN?
The financial health rating of FIRST CAPITAL REAL ESTATE IN (FCR-UN.CA) is 4 / 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 18.02% in the next year.