Firm Cap Mortgage Invest (TSE:FC)
TSX:FC
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Firm Cap Mortgage Invest
(TSX:FC)
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Rating:72Outperform
Price Target:
C$13.50
â–²(14.31% Upside)
Action:Upgraded
Date:05/09/26
The score is driven primarily by strong profitability and improved leverage, supported by an attractive income/valuation profile (moderate P/E and ~8.5% yield). The main offsets are a weaker recent revenue trend, uneven/declining recent free cash flow versus the prior period, and only neutral technical momentum.
Positive Factors
High Profitability
Sustained TTM net margins near 57% indicate durable earnings power for a mortgage investor. High margins provide a buffer against credit losses and funding cost rises, support steady distributions, and allow reinvestment into the portfolio without immediate reliance on growth.
Negative Factors
Softening Revenue
Declining revenue indicates weaker originations or yield compression in the mortgage portfolio. For a lender/asset manager, sustained top‑line weakness limits scale economies, curtails future earnings growth and can pressure distributions if not offset by margin expansion or cost reductions.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Sustained TTM net margins near 57% indicate durable earnings power for a mortgage investor. High margins provide a buffer against credit losses and funding cost rises, support steady distributions, and allow reinvestment into the portfolio without immediate reliance on growth.
Read all positive factors
Firm Cap Mortgage Invest (FC) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$437.56M
Dividend Yield8.38%
Average Volume (3M)42.31K
Price to Earnings (P/E)12.1
Beta (1Y)0.46
Revenue Growth-8.75%
EPS Growth-3.51%
CountryCA
Employees1
SectorFinancial
Sector Strength70
IndustryFinancial - Mortgages
Share Statistics
EPS (TTM)0.98
Shares Outstanding36,739,037
10 Day Avg. Volume51,687
30 Day Avg. Volume42,308
Financial Highlights & Ratios
PEG Ratio-1.29
Price to Book (P/B)1.01
Price to Sales (P/S)6.45
P/FCF Ratio9.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$12.75Price Target Upside7.96% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.99
Revenue Forecast (FY)C$56.60M
Firm Cap Mortgage Invest Business Overview & Revenue Model
Company Description
Firm Capital Mortgage Investment Corporation, operating through its mortgage banker Firm Capital Corporation, offers a comprehensive range of real estate financing solutions throughout Canada. Their services cater to both residential and commercia...
How the Company Makes Money
Firm Cap Mortgage Invest generates revenue by investing in and managing a diversified portfolio of mortgage-backed assets. The company earns income through interest payments on loans and mortgages it originates or acquires, as well as from fees as...
Firm Cap Mortgage Invest Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
69
Positive
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 63.56M | 66.72M | 68.63M | 66.22M | 58.02M | 45.30M |
| Gross Profit | 55.39M | 62.01M | 50.82M | 40.81M | 40.14M | 35.36M |
| EBITDA | 47.76M | 49.91M | 58.66M | 34.16M | 32.23M | 29.99M |
| Net Income | 36.11M | 37.47M | 35.23M | 34.16M | 32.23M | 29.99M |
Balance Sheet | ||||||
| Total Assets | 558.74M | 594.78M | 631.22M | 589.61M | 656.18M | 640.28M |
| Cash, Cash Equivalents and Short-Term Investments | 18.04M | 14.26M | 0.00 | 9.37M | 0.00 | 0.00 |
| Total Debt | 128.62M | 160.85M | 199.90M | 182.80M | 251.24M | 252.36M |
| Total Liabilities | 133.58M | 169.66M | 207.84M | 190.42M | 257.13M | 257.61M |
| Stockholders Equity | 425.16M | 425.12M | 423.39M | 399.19M | 399.05M | 382.67M |
Cash Flow | ||||||
| Free Cash Flow | 52.59M | 47.26M | -13.76M | 63.47M | 51.86M | 40.95M |
| Operating Cash Flow | 52.59M | 47.26M | -13.76M | 63.47M | 51.86M | 40.95M |
| Investing Cash Flow | 51.39M | 42.67M | 0.00 | 62.79M | -18.80M | -83.19M |
| Financing Cash Flow | -84.65M | -63.98M | -7.30M | -88.26M | -27.75M | 40.35M |
Firm Cap Mortgage Invest Technical Analysis
Positive
11.81
Price Trends
11.93
Positive
11.86
Positive
11.58
Positive
Market Momentum
0.01
Negative
53.15
Neutral
37.93
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FC, the sentiment is Positive. The current price of 11.81 is below the 20-day moving average (MA) of 11.91, below the 50-day MA of 11.93, and above the 200-day MA of 11.58, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 53.15 is Neutral, neither overbought nor oversold. The STOCH value of 37.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FC.
Firm Cap Mortgage Invest Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | C$437.56M | 12.12 | 8.48% | 8.38% | -8.75% | -3.51% | |
70 Outperform | C$1.00B | 12.26 | 12.71% | 7.33% | 10.47% | 9.78% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
61 Neutral | C$561.83M | 11.42 | 9.35% | 7.95% | -11.74% | -1.31% | |
60 Neutral | C$563.21M | 28.19 | 7.80% | 8.78% | -8.34% | -48.32% | |
55 Neutral | C$538.72M | 17.93 | 4.48% | 10.00% | -10.08% | -35.26% |
* Financial Sector Average
TSE:FC
Firm Cap Mortgage Invest
11.91
0.59
5.17%
TSE:AI
Atrium Mortgage Invest
11.70
1.39
13.44%
TSE:FSZ
Fiera Capital A
5.31
-0.16
-2.85%
TSE:MKP
MCAN Financial
24.63
6.43
35.36%
TSE:TF
Timbercreek Financial
6.51
-0.23
-3.37%
Firm Cap Mortgage Invest Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
Firm Capital Posts Higher 2025 Earnings, Trims Portfolio but Maintains Monthly Dividend
Neutral
Mar 13, 2026
Firm Capital Mortgage Investment Corporation reported a 4.7% decline in fourth-quarter 2025 net income to $8.7 million, though full-year net income rose 6.4% to $37.5 million, with annual earnings per share edging up to $1.02. The mortgage investm...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.