company background image
FC

Firm Capital Mortgage InvestmentTSX:FC Stock Report

Last Price

CA$14.32

Market Cap

CA$481.7m

7D

-1.8%

1Y

5.8%

Updated

21 Jan, 2022

Data

Company Financials +
FC fundamental analysis
Snowflake Score
Valuation2/6
Future Growth1/6
Past Performance3/6
Financial Health1/6
Dividends2/6

FC Stock Overview

Firm Capital Mortgage Investment Corporation, through its mortgage banker, Firm Capital Corporation, provides residential and commercial short-term bridge and conventional real estate finance in Canada.

Price History & Performance

Summary of all time highs, changes and price drops for Firm Capital Mortgage Investment
Historical stock prices
Current Share PriceCA$14.32
52 Week HighCA$15.84
52 Week LowCA$12.61
Beta0.86
1 Month Change0.28%
3 Month Change-4.09%
1 Year Change5.76%
3 Year Change5.92%
5 Year Change1.99%
Change since IPO43.20%

Recent News & Updates

Jan 10
Firm Capital Mortgage Investment (TSE:FC) Has Announced A Dividend Of CA$0.078

Firm Capital Mortgage Investment (TSE:FC) Has Announced A Dividend Of CA$0.078

The board of Firm Capital Mortgage Investment Corporation ( TSE:FC ) has announced that it will pay a dividend on the...

Dec 21
Firm Capital Mortgage Investment (TSE:FC) Has Affirmed Its Dividend Of CA$0.09

Firm Capital Mortgage Investment (TSE:FC) Has Affirmed Its Dividend Of CA$0.09

Firm Capital Mortgage Investment Corporation ( TSE:FC ) has announced that it will pay a dividend of CA$0.09 per share...

Shareholder Returns

FCCA MortgageCA Market
7D-1.8%-3.2%-2.9%
1Y5.8%21.4%15.9%

Return vs Industry: FC underperformed the Canadian Mortgage industry which returned 22.5% over the past year.

Return vs Market: FC underperformed the Canadian Market which returned 17.4% over the past year.

Price Volatility

Is FC's price volatile compared to industry and market?
FC volatility
FC Average Weekly Movement1.6%
Mortgage Industry Average Movement2.4%
Market Average Movement9.8%
10% most volatile stocks in CA Market17.4%
10% least volatile stocks in CA Market3.7%

Stable Share Price: FC is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: FC's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1988n/aEli Dadouchhttps://firmcapital.com/fcmic

Firm Capital Mortgage Investment Corporation, through its mortgage banker, Firm Capital Corporation, provides residential and commercial short-term bridge and conventional real estate finance in Canada. It engages in originating, funding, purchasing, and servicing mortgage investments. The company offers mortgage services, such as real estate financing, real estate investment financing, capital market, and loan servicing and advisory services; lending programs, including construction and development lending, investment property financing, short term lending, bridge finance, mezzanine and equity investments, capital market facilities, residential and non-conventional house lending, and condominium capital improvement loans, as well as special situation loans; and various types of lending facilities to mortgage brokers.

Firm Capital Mortgage Investment Fundamentals Summary

How do Firm Capital Mortgage Investment's earnings and revenue compare to its market cap?
FC fundamental statistics
Market CapCA$481.69m
Earnings (TTM)CA$29.57m
Revenue (TTM)CA$36.39m

16.3x

P/E Ratio

1.4x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FC income statement (TTM)
RevenueCA$36.39m
Cost of RevenueCA$0
Gross ProfitCA$36.39m
ExpensesCA$6.82m
EarningsCA$29.57m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.88
Gross Margin100.00%
Net Profit Margin81.25%
Debt/Equity Ratio60.1%

How did FC perform over the long term?

See historical performance and comparison

Dividends

6.6%

Current Dividend Yield

97%

Payout Ratio

Does FC pay a reliable dividends?

See FC dividend history and benchmarks
When do you need to buy FC by to receive an upcoming dividend?
Firm Capital Mortgage Investment dividend dates
Ex Dividend DateJan 28 2022
Dividend Pay DateFeb 15 2022
Days until Ex dividend6 days
Days until Dividend pay date24 days

Does FC pay a reliable dividends?

See FC dividend history and benchmarks

Valuation

Is Firm Capital Mortgage Investment undervalued compared to its fair value and its price relative to the market?

21.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FC (CA$14.32) is trading below our estimate of fair value (CA$18.26)

Significantly Below Fair Value: FC is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FC is poor value based on its PE Ratio (16.3x) compared to the Canadian Mortgage industry average (9.3x).

PE vs Market: FC is poor value based on its PE Ratio (16.3x) compared to the Canadian market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: FC is overvalued based on its PB Ratio (1.4x) compared to the CA Mortgage industry average (1.2x).


Future Growth

How is Firm Capital Mortgage Investment forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

16.6%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if FC's forecast earnings growth is above the savings rate (1.6%).

Earnings vs Market: Insufficient data to determine if FC's earnings are forecast to grow faster than the Canadian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FC's revenue (16.6% per year) is forecast to grow faster than the Canadian market (5.5% per year).

High Growth Revenue: FC's revenue (16.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FC's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Firm Capital Mortgage Investment performed over the past 5 years?

5.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FC has high quality earnings.

Growing Profit Margin: FC's current net profit margins (81.3%) are lower than last year (81.7%).


Past Earnings Growth Analysis

Earnings Trend: FC's earnings have grown by 5% per year over the past 5 years.

Accelerating Growth: FC's earnings growth over the past year (15%) exceeds its 5-year average (5% per year).

Earnings vs Industry: FC earnings growth over the past year (15%) underperformed the Mortgage industry 26.9%.


Return on Equity

High ROE: FC's Return on Equity (8.3%) is considered low.


Financial Health

How is Firm Capital Mortgage Investment's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: FC's Assets to Equity ratio (1.6x) is low.

Allowance for Bad Loans: Insufficient data to determine if FC has a sufficient allowance for bad loans.

Low Risk Liabilities: FC reports no customer deposits, 100% of its liabilities are made up of higher risk sources of funding.

Loan Level: Insufficient data to determine if FC has an appropriate level of Loans to Assets ratio.

Low Risk Deposits: FC reports no customer deposits, loans are made up entirely of externally borrowed funds.

Level of Bad Loans: Insufficient data to determine if FC has an appropriate level of bad loans.


Dividend

What is Firm Capital Mortgage Investment current dividend yield, its reliability and sustainability?

6.62%

Current Dividend Yield


Upcoming Dividend Payment

TodayJan 22 2022Ex Dividend DateJan 28 2022Dividend Pay DateFeb 15 202218 days from Ex DividendBuy in the next 6 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: FC's dividend (6.62%) is higher than the bottom 25% of dividend payers in the Canadian market (1.6%).

High Dividend: FC's dividend (6.62%) is in the top 25% of dividend payers in the Canadian market (4.64%)


Stability and Growth of Payments

Stable Dividend: FC's dividend payments have been volatile in the past 10 years.

Growing Dividend: FC's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (97.1%), FC's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.1yrs

Average management tenure


CEO

Eli Dadouch

no data

Tenure

CA$3,212,764

Compensation

Mr. Eli Dadouch serves as Chairman at Firm Capital Property Trust since July 2021. He is the Founder of Firm Capital Mortgage Investment Corporation. He serves as Vice Chairman at Firm Capital Apartment Re...


CEO Compensation Analysis

Compensation vs Market: Eli's total compensation ($USD2.56M) is above average for companies of similar size in the Canadian market ($USD796.65K).

Compensation vs Earnings: Eli's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: FC's management team is considered experienced (2.1 years average tenure).


Board Members

Experienced Board: FC's board of directors are seasoned and experienced ( 14.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FC insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9.1%.


Top Shareholders

Company Information

Firm Capital Mortgage Investment Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Firm Capital Mortgage Investment Corporation
  • Ticker: FC
  • Exchange: TSX
  • Founded: 1988
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Implied Market Cap: CA$481.691m
  • Shares outstanding: 33.64m
  • Website: https://firmcapital.com/fcmic

Number of Employees


Location

  • Firm Capital Mortgage Investment Corporation
  • 163 Cartwright Avenue
  • Toronto
  • Ontario
  • M6A 1V5
  • Canada

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/21 23:44
End of Day Share Price2022/01/21 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.