First Capital Real Estate Investment Trust

FCR-UN.TOTSXReal Estate● Active

$23.23

$-0.04(-0.17%)

Market Cap$4.9B

P/E Ratio—

52W High$23.84

52W Low$17.36

Avg Volume711K

Open$23.20

Beta0.88

Free Cash Flow Financials Revenue

First Capital Real Estate Investment Trust (FCR-UN.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

FCR-UN.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

FCR-UN.TO · FCF · TTM · margin & CAGR

Free cash flow was $59.8M for FY2025 (fiscal year ending 2025-12-31), down 45.6% year-over-year The FCF margin was 8.2%. Five-year CAGR stands at +32.8%.

FY2025 Free Cash Flow$59.8M▼ -45.6% YoY

Trailing 12M (TTM)$137.4Mtrailing 4 quarters sum

FCF Margin8.2%$59.8M ÷ revenue

3-Year CAGR-22.0%FY2022 → FY2025

5-Year CAGR+32.8%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

FCR-UN.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$206.7M(147M)$59.8M▼ 45.6%8.2%

FY2024$233.8M(124M)$110.0M▲ +29.9%15.4%

FY2023$227.7M(143M)$84.7M▼ 32.9%11.3%

FY2022$251.2M(125M)$126.2M▲ +31.3%17.7%

FY2021$249.6M(154M)$96.1M▲ +564.0%14.1%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

FCR-UN.TO · P/FCF · FCF yield · FCF per share

First Capital Real Estate Investment Trust (FCR-UN.TO) trades at a FCF yield of 2.78% and a price-to-free-cash-flow ratio of 35.7x. FCF per share stands at $0.65, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

2.78%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$0.65

TTM FCF ÷ Shares Outstanding

Price / FCF

x35.7

Share Price ÷ FCF per Share

EV / FCF (TTM)

x64.9

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

FCR-UN.TO · cash flow statement · operating / investing / financing

For FY2025, First Capital Real Estate Investment Trust generated $206.7M in operating cash flow and spent 147M in capital expenditures, yielding $59.8M in free cash flow.

Operating Activities

+$206.7M

Cash from core business operations

2025-12-31

Investing Activities

−$50.9M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$252.5M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($206.7M) − |CapEx| (147M) = FCF ($59.8M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Real Estate)

FCR-UN.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

First Capital Real Estate Investment TrustYOU

FCR-UN.TO

$59.8M-45.6%8.2%

American Tower Corporation

AMT

$3.78B+2.2%35.5%

76%

Simon Property Group, Inc.

Real Estate · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

First Capital Real Estate Investment Trust (FCR-UN.TO) reported free cash flow of $59.8M for FY2025 (fiscal year ending 2025-12-31), down 45.6% year-over-year. The FCF margin was 8.2%.

Based on available data, First Capital Real Estate Investment Trust has maintained positive free cash flow for at least 11 fiscal year(s). FCF peaked at $126.2M in FY2022. The 5-year CAGR stands at +32.8%.

First Capital Real Estate Investment Trust's FCF yield is 2.78% and price-to-FCF ratio is 35.7x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

FCR-UN.TO free cash flow · 8 questions

First Capital Real Estate Investment Trust free cash flow was $59.8M for FY2025, down 45.6% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $137.4M.

FCR-UN.TO free cash flowFCR-UN.TO FCFFCR-UN.TO FCF 2025FCR-UN.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · First Capital Real Estate Investment Trust · First Capital Real Estate Investment Trust SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026