F 
First Capital Real Estate Investment Trust FCR.UN.TO · CAD
Real Estate · Toronto Stock Exchange · 🇨🇦 Canada
23.37
-0.09%
Close of 9 Nov 2026, in CAD
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At a glance
Figures in CAD, from our data supplier.
Revenue
C$731.2m
FY2016FY2025
Net income
C$1.06bn
FY2016FY2025
Free cash flow
C$206.7m
FY2016FY2025
Shareholders' equity
C$4.82bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$731.2m | C$713.5m | C$688.0m | C$693.1m | C$674.9m | C$672.9m | C$746.8m | C$729.6m | C$694.5m | C$676.3m |
| Gross profit | C$457.4m | C$443.9m | C$421.9m | C$421.1m | C$404.8m | C$390.6m | C$454.0m | C$452.2m | C$435.8m | C$419.6m |
| Operating income | C$403.7m | C$409.3m | C$379.1m | C$382.7m | C$364.3m | C$349.3m | C$412.0m | C$416.3m | C$405.9m | C$387.8m |
| Net income | C$1.06bn | C$204.9m | −C$134.1m | −C$160.0m | C$460.1m | C$2.7m | C$401.3m | C$343.6m | C$633.1m | C$382.7m |
| Diluted earnings per share | 4.96 | 0.96 | -0.63 | -0.72 | 2.08 | 0.01 | 1.74 | 1.37 | 2.55 | 1.55 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | C$9.23bn | C$9.18bn | C$9.19bn | C$9.58bn | C$10.11bn | C$10.03bn | C$10.16bn | C$10.45bn | C$9.97bn | C$9.11bn |
| Cash and short-term investments | C$57.2m | C$153.5m | C$90.2m | C$36.0m | C$61.0m | C$104.0m | C$29.0m | C$39.0m | C$33.0m | C$25.0m |
| Total liabilities | C$4.41bn | C$5.24bn | C$5.26bn | C$5.30bn | C$5.49bn | C$5.80bn | C$5.74bn | C$5.47bn | C$5.32bn | C$4.91bn |
| Debt | C$4.04bn | C$4.11bn | C$4.09bn | C$4.14bn | C$4.43bn | C$4.79bn | C$4.73bn | C$4.38bn | C$4.30bn | C$4.02bn |
| Shareholders' equity | C$4.82bn | C$3.95bn | C$3.93bn | C$4.28bn | C$4.62bn | C$4.23bn | C$4.43bn | C$4.98bn | C$4.65bn | C$4.20bn |
| Shares outstanding | 215m | 214m | 214m | 221m | 221m | 221m | 231m | 251m | 249m | 246m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | C$206.7m | C$233.8m | C$227.7m | C$251.2m | C$249.6m | C$219.5m | C$269.1m | C$283.0m | C$270.2m | C$256.6m |
| Free cash flow | C$206.7m | C$233.8m | C$227.7m | C$251.2m | C$249.6m | C$219.5m | C$269.1m | C$283.0m | C$270.2m | C$256.6m |
| Dividends paid | −C$188.6m | −C$183.4m | −C$183.7m | −C$116.7m | −C$102.6m | −C$187.9m | −C$203.8m | −C$212.7m | −C$209.6m | −C$199.8m |
Latest quarters
By quarter end
| Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | C$185.4m | C$181.3m | C$180.2m | C$184.4m | C$180.4m | C$174.0m | C$176.2m | C$182.9m |
| Gross profit | C$117.2m | C$113.7m | C$115.7m | C$110.8m | C$112.3m | C$109.6m | C$112.0m | C$109.9m |
| Operating income | C$106.7m | C$95.9m | C$100.8m | C$100.3m | C$102.6m | C$98.3m | C$102.6m | C$104.9m |
| Net income | C$849.5m | C$66.6m | C$63.5m | C$84.4m | C$32.0m | C$81.0m | C$17.0m | C$74.8m |
| Diluted earnings per share | 3.95 | 0.31 | 0.30 | 0.39 | 0.15 | 0.38 | 0.08 | 0.35 |
| Cash from operations | C$68.0m | C$49.0m | C$59.0m | C$29.0m | C$80.0m | C$52.0m | C$72.0m | C$29.0m |
| Total assets | C$9.23bn | C$9.17bn | C$9.39bn | C$9.18bn | C$9.18bn | C$9.17bn | C$9.48bn | C$9.25bn |
| Cash and short-term investments | C$57.2m | C$28.0m | C$275.7m | C$149.3m | C$153.5m | C$65.5m | C$457.9m | C$167.0m |
| Debt | C$3.69bn | C$3.45bn | C$3.32bn | C$3.51bn | C$3.58bn | C$3.54bn | C$3.85bn | C$3.62bn |
| Shareholders' equity | C$4.82bn | C$4.02bn | C$4.00bn | C$3.98bn | C$3.95bn | C$3.96bn | C$3.94bn | C$3.97bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.8% | 1.7% | 1.1% |
| Operating income | 1.8% | 2.9% | 1.2% |
| Net income | — | 230.5% | 18.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 62.4% | 61.7% | 60.8% | 61.4% |
| Operating margin | 56.3% | 55.7% | 54.8% | 55.6% |
| Net margin | 87.8% | 34.5% | 34.4% | 44.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 3.8 | 17.7 | -24.5 | -23.2 | 9.1 | — | 11.9 | 13.8 | 8.2 | 13.3 |
| Price to sales | 5.5 | 5.1 | 4.8 | 5.4 | 6.2 | 4.4 | 6.4 | 6.5 | 7.4 | 7.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 25 years. Last went ex-dividend on 29 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.684 | 0.816 | 0.988 | 0.864 | 0.576 | 0.432 | 0.86 | 0.717 |
- 1-to-1 reverse split · 30 Dec 2019
- 3.2-for-2 split · 25 May 2010
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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