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Firm Capital Mortgage Investment

OTCPK:FCMG.F
Snowflake Description

Fair value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FCMG.F
OTCPK
CA$290M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Firm Capital Mortgage Investment Corporation, through its mortgage banker Firm Capital Corporation, provides residential and commercial real estate finance in Canada. The last earnings update was 14 days ago. More info.


Add to Portfolio Compare Print
  • Firm Capital Mortgage Investment has significant price volatility in the past 3 months.
FCMG.F Share Price and Events
7 Day Returns
0%
OTCPK:FCMG.F
6.3%
US Mortgage
5.3%
US Market
1 Year Returns
-
OTCPK:FCMG.F
-26.6%
US Mortgage
-10.7%
US Market
FCMG.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Firm Capital Mortgage Investment (FCMG.F) 0% -51.6% - - -48.2% -
US Mortgage 6.3% -26.5% -34.1% -26.6% -23.8% -8.7%
US Market 5.3% -13.6% -19.8% -10.7% 8% 20.4%
1 Year Return vs Industry and Market
  • No trading data on FCMG.F.
  • No trading data on FCMG.F.
Price Volatility
FCMG.F
Industry
5yr Volatility vs Market

FCMG.F Value

 Is Firm Capital Mortgage Investment undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Firm Capital Mortgage Investment to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Firm Capital Mortgage Investment.

OTCPK:FCMG.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CA$10.94 * 8.7%
CA$0.95
Book Value of Equity per Share Median Book Value from the past 5 years. CA$10.94
Discount Rate (Cost of Equity) See below 6.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:FCMG.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Mortgage Unlevered Beta Simply Wall St/ S&P Global 0.66
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.657 (1 + (1- 26.5%) (54.97%))
0.948
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (0.948 * 5.44%)
6.9%

Discounted Cash Flow Calculation for OTCPK:FCMG.F using Excess Returns Model Model

The calculations below outline how an intrinsic value for Firm Capital Mortgage Investment is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

OTCPK:FCMG.F Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.7% – 6.9%) * CA$10.94)
CA$0.19
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$0.19 / (6.9% - 1.74%)
CA$3.78
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$10.94 + CA$3.78
CA$14.72
OTCPK:FCMG.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:FCMG.F represents 0.55257x of TSX:FC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.55257x
Value per Share
(Listing Adjusted, USD)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 14.72 x 0.55257
$8.13
Value per share (USD) From above. $8.13
Current discount Discount to share price of $5.59
= -1 x ($5.59 - $8.13) / $8.13
31.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Firm Capital Mortgage Investment is available for.
Intrinsic value
31%
Share price is $5.59 vs Future cash flow value of $8.13
Current Discount Checks
For Firm Capital Mortgage Investment to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Firm Capital Mortgage Investment's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Firm Capital Mortgage Investment's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Firm Capital Mortgage Investment's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Firm Capital Mortgage Investment's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:FCMG.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$1.01
TSX:FC Share Price ** TSX (2020-03-25) in CAD CA$10.11
United States of America Mortgage Industry PE Ratio Median Figure of 121 Publicly-Listed Mortgage Companies 10.55x
United States of America Market PE Ratio Median Figure of 2,939 Publicly-Listed Companies 13.13x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Firm Capital Mortgage Investment.

OTCPK:FCMG.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:FC Share Price ÷ EPS (both in CAD)

= 10.11 ÷ 1.01

10.03x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Firm Capital Mortgage Investment is good value based on earnings compared to the US Mortgage industry average.
  • Firm Capital Mortgage Investment is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Firm Capital Mortgage Investment's expected growth come at a high price?
Raw Data
OTCPK:FCMG.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
Not available
United States of America Mortgage Industry PEG Ratio Median Figure of 46 Publicly-Listed Mortgage Companies 0.18x
United States of America Market PEG Ratio Median Figure of 2,006 Publicly-Listed Companies 0.99x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Firm Capital Mortgage Investment, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Firm Capital Mortgage Investment's assets?
Raw Data
OTCPK:FCMG.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$11.08
TSX:FC Share Price * TSX (2020-03-25) in CAD CA$10.11
United States of America Mortgage Industry PB Ratio Median Figure of 132 Publicly-Listed Mortgage Companies 0.81x
United States of America Market PB Ratio Median Figure of 5,138 Publicly-Listed Companies 1.28x
OTCPK:FCMG.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:FC Share Price ÷ Book Value per Share (both in CAD)

= 10.11 ÷ 11.08

0.91x

* Primary Listing of Firm Capital Mortgage Investment.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Firm Capital Mortgage Investment is overvalued based on assets compared to the US Mortgage industry average.
X
Value checks
We assess Firm Capital Mortgage Investment's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Mortgage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Mortgage industry average (and greater than 0)? (1 check)
  5. Firm Capital Mortgage Investment has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FCMG.F Future Performance

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

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
13.7%
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
Is Firm Capital Mortgage Investment expected to grow at an attractive rate?
  • Unable to compare Firm Capital Mortgage Investment's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Firm Capital Mortgage Investment's earnings growth to the United States of America market average as no estimate data is available.
  • Firm Capital Mortgage Investment's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:FCMG.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:FCMG.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 13.7%
United States of America Mortgage Industry Earnings Growth Rate Market Cap Weighted Average 2.5%
United States of America Mortgage Industry Revenue Growth Rate Market Cap Weighted Average 1.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:FCMG.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:FCMG.F Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 43 2
2020-12-31 43 2
2020-04-01
OTCPK:FCMG.F Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 32 41 28
2019-09-30 32 42 27
2019-06-30 31 41 27
2019-03-31 30 40 26
2018-12-31 30 41 26
2018-09-30 31 40 26
2018-06-30 30 42 25
2018-03-31 29 41 24
2017-12-31 26 39 25
2017-09-30 25 37 24
2017-06-30 25 33 24
2017-03-31 24 32 23

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Firm Capital Mortgage Investment is high growth as no earnings estimate data is available.
  • Firm Capital Mortgage Investment's revenue is expected to grow by 13.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:FCMG.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Firm Capital Mortgage Investment Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:FCMG.F Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2020-04-01
OTCPK:FCMG.F Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 1.01
2019-09-30 1.01
2019-06-30 1.00
2019-03-31 0.99
2018-12-31 0.99
2018-09-30 0.99
2018-06-30 0.96
2018-03-31 0.96
2017-12-31 1.02
2017-09-30 1.03
2017-06-30 1.03
2017-03-31 1.04

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Firm Capital Mortgage Investment is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Firm Capital Mortgage Investment's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Firm Capital Mortgage Investment has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FCMG.F Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Firm Capital Mortgage Investment's growth in the last year to its industry (Mortgage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Firm Capital Mortgage Investment's year on year earnings growth rate has been positive over the past 5 years.
  • Firm Capital Mortgage Investment's 1-year earnings growth exceeds its 5-year average (8.7% vs 7.9%)
  • Firm Capital Mortgage Investment's earnings growth has not exceeded the US Mortgage industry average in the past year (8.7% vs 11.1%).
Earnings and Revenue History
Firm Capital Mortgage Investment's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Firm Capital Mortgage Investment Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:FCMG.F Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 32.14 28.00 4.92
2019-09-30 32.10 27.42 5.01
2019-06-30 31.31 26.66 4.98
2019-03-31 30.48 25.90 4.91
2018-12-31 30.40 25.75 4.99
2018-09-30 30.63 25.78 4.92
2018-06-30 29.51 24.75 4.88
2018-03-31 28.81 24.23 4.81
2017-12-31 26.35 24.82 4.60
2017-09-30 25.48 24.07 4.42
2017-06-30 24.88 23.57 4.26
2017-03-31 24.45 23.20 4.08
2016-12-31 25.18 21.19 3.99
2016-09-30 25.13 21.20 3.94
2016-06-30 24.74 20.85 3.89
2016-03-31 24.11 20.25 3.86
2015-12-31 23.78 20.08 3.70
2015-09-30 23.14 19.65 3.49
2015-06-30 22.83 19.39 3.44
2015-03-31 22.78 19.39 3.44
2014-12-31 22.90 19.51 3.39
2014-09-30 22.50 18.97 3.52
2014-06-30 22.08 18.66 3.42
2014-03-31 21.77 18.38 3.34
2013-12-31 20.90 17.61 3.29
2013-09-30 20.37 17.27 3.30
2013-06-30 19.95 16.93 3.22

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Firm Capital Mortgage Investment has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Firm Capital Mortgage Investment used its assets more efficiently than the US Mortgage industry average last year based on Return on Assets.
  • Unable to establish if Firm Capital Mortgage Investment improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Firm Capital Mortgage Investment's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Mortgage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Firm Capital Mortgage Investment has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FCMG.F Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Firm Capital Mortgage Investment's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Firm Capital Mortgage Investment Company Filings, last reported 3 months ago.

OTCPK:FCMG.F Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 313.90 159.50 35.30
2019-09-30 313.23 175.79 53.28
2019-06-30 312.12 222.14 20.18
2019-03-31 308.99 234.78 16.37
2018-12-31 286.11 227.42 16.44
2018-09-30 286.43 243.07 5.66
2018-06-30 285.50 268.76 7.03
2018-03-31 284.80 261.94 6.68
2017-12-31 284.04 269.40
2017-09-30 286.01 247.49
2017-06-30 264.56 224.09
2017-03-31 263.28 203.55
2016-12-31 238.97 209.04
2016-09-30 238.66 194.91
2016-06-30 237.88 174.26
2016-03-31 212.94 202.09
2015-12-31 211.48 190.13
2015-09-30 210.94 197.70
2015-06-30 210.49 185.27
2015-03-31 210.20 161.67
2014-12-31 209.19 130.59
2014-09-30 209.48 146.03
2014-06-30 208.63 132.65
2014-03-31 208.36 116.15
2013-12-31 185.65 149.15
2013-09-30 186.25 118.06
2013-06-30 185.50 128.50
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Unable to establish if Firm Capital Mortgage Investment has an acceptable proportion of non-loan assets without balance sheet data.
  • Unable to establish if Firm Capital Mortgage Investment's liabilities are primarily made up of low risk funding sources without deposits or liabilities data.
  • Firm Capital Mortgage Investment reports no customer deposits, loans are made up entirely of borrowed funds.
  • Firm Capital Mortgage Investment's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if Firm Capital Mortgage Investment has a sufficient allowance for bad loans without relevant financial data.
  • Unable to establish if Firm Capital Mortgage Investment has an acceptable level of bad loans without bad loans data.
X
Financial health checks
We assess Firm Capital Mortgage Investment's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Firm Capital Mortgage Investment has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FCMG.F Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
9.95%
Current annual income from Firm Capital Mortgage Investment dividends. Estimated to be 9.62% next year.
If you bought $2,000 of Firm Capital Mortgage Investment shares you are expected to receive $199 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Firm Capital Mortgage Investment's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.95%).
  • Firm Capital Mortgage Investment's dividend is above the markets top 25% of dividend payers in United States of America (5.37%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:FCMG.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Mortgage Industry Average Dividend Yield Market Cap Weighted Average of 88 Stocks 4.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1946 Stocks 2.9%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.9%
United States of America Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:FCMG.F Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.98 2.00
2020-12-31 0.97 2.00
2020-04-01
OTCPK:FCMG.F Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-12-12 1.006 7.485
2019-10-16 0.986 6.861
2019-07-10 0.986 7.138
2019-04-12 0.986 7.284
2019-01-09 0.986 7.395
2018-10-12 1.006 7.677
2018-07-11 1.006 7.625
2018-03-29 1.006 7.681
2018-01-09 1.006 7.755
2017-12-18 1.006 7.725
2017-10-05 0.966 7.617
2017-07-18 0.966 7.498
2017-04-07 0.966 7.272
2017-01-06 0.966 6.868
2016-12-14 0.966 6.935
2016-10-12 0.991 7.166
2016-07-08 0.991 7.192
2016-04-08 0.991 7.494
2016-01-08 0.991 7.664
2015-12-15 0.991 7.712
2015-10-22 0.936 7.443
2015-07-10 0.936 7.575
2015-04-20 0.970 7.746
2015-01-08 0.970 7.994
2014-12-17 0.970 7.908
2014-10-16 0.984 7.771
2014-07-09 0.984 7.813
2014-04-17 0.936 7.638
2014-01-09 0.936 7.845
2013-10-15 0.936 7.856
2013-05-30 1.068 8.727
2013-04-17 1.068 7.974
2013-01-18 1.068 7.777
2012-12-18 1.068 7.797
2012-08-20 0.990 7.324
2012-05-17 0.990 7.441
2012-01-19 0.990 7.452
2011-12-16 0.990 7.566
2011-05-18 1.006 8.003
2010-12-16 1.006 8.177
2010-11-17 1.041 8.766
2010-08-18 1.041 8.776
2010-05-18 1.041 8.998
2010-01-20 1.041 9.251
2009-12-18 1.041 9.841
2009-07-21 1.106 10.714

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Firm Capital Mortgage Investment's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Firm Capital Mortgage Investment's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Firm Capital Mortgage Investment afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Firm Capital Mortgage Investment has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FCMG.F Management

 What is the CEO of Firm Capital Mortgage Investment's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Eli Dadouch
COMPENSATION CA$1,813,744
CEO Bio

Mr. Eli Dadouch has been President and Chief Executive Officer at Firm Capital American Realty Partners Trust (former name is Firm Capital American Realty Partners Corp) since September 18, 2018. Mr. Dadouch serves as the Vice Chairman at Firm Capital Private Equity Realty Corp. Mr. Dadouch serves as the Chief Executive Officer and President of Firm Capital Mortgage Investment Corporation (formerly, Firm Capital Mortgage Investment Trust) (FCMIC). He serves as a Co-Chief Investment Officer and Vice Chairman at Firm Capital Property Trust (FCPT). He serves as the President of Firm Capital Properties Inc. a property management company. He serves as Vice Chairman at Firm Capital American Realty Partners Trust and serves as its President and Chief Executive Officer since September 18, 2018. He served as the President of Firm Capital Corporation. He has been a Director of Firm Capital Mortgage Investment Corporation since 1999. He has been a Director of Delavaco Residential Properties Corp. since July 20, 2016 and Firm Capital American Realty Partners Trust since July 20, 2016. He has been a Non-Independent Trustee at Firm Capital Property Trust since 2012.

CEO Compensation
  • Eli's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Eli's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure of the Firm Capital Mortgage Investment management team in years:

2
Average Tenure
  • The tenure for the Firm Capital Mortgage Investment management team is about average.
Management Team

Stanley Goldfarb

TITLE
Independent Chairman
COMPENSATION
CA$85K

Eli Dadouch

TITLE
President
COMPENSATION
CA$2M

Boris Baril

TITLE
Chief Financial Officer
COMPENSATION
CA$150K
TENURE
2 yrs

Jonathan Mair

TITLE
COO, Executive VP & Director
COMPENSATION
CA$300K
TENURE
2 yrs

Sandy Poklar

TITLE
Executive VP & MD of Finance
COMPENSATION
CA$50K
AGE
49
TENURE
2 yrs

Victoria Granovski

TITLE
Internal Credit Manager
COMPENSATION
CA$12K

Joseph Fried

TITLE
General Counsel & Secretary
TENURE
21.3 yrs

Michael Warner

TITLE
Senior Vice President of Mortgage Lending
Board of Directors Tenure

Average tenure and age of the Firm Capital Mortgage Investment board of directors in years:

20.3
Average Tenure
70.5
Average Age
  • The average tenure for the Firm Capital Mortgage Investment board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Eli Dadouch

TITLE
President
COMPENSATION
CA$2M
TENURE
21.3 yrs

Jonathan Mair

TITLE
COO, Executive VP & Director
COMPENSATION
CA$300K
TENURE
21.3 yrs

Victoria Granovski

TITLE
Internal Credit Manager
COMPENSATION
CA$12K
TENURE
2.4 yrs

Anthony Heller

TITLE
Independent Director
COMPENSATION
CA$30K
AGE
68
TENURE
21.3 yrs

Stanley Goldfarb

TITLE
Independent Chairman
COMPENSATION
CA$85K

Morris Fischtein

TITLE
Independent Director
COMPENSATION
CA$30K
TENURE
20.3 yrs

Edward Gilbert

TITLE
Director
AGE
73
TENURE
21.3 yrs

Larry Shulman

TITLE
Independent Director
COMPENSATION
CA$30K
AGE
79
TENURE
14.3 yrs

Geoff Bledin

TITLE
Independent Director
COMPENSATION
CA$30K
AGE
65
TENURE
11.8 yrs

Keith Ray

TITLE
Independent Director
COMPENSATION
CA$30K
TENURE
5.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Firm Capital Mortgage Investment individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
27. Mar 20 Buy Joseph Oliver Individual 25. Mar 20 26. Mar 20 12,500 $7.11 $86,476
18. Mar 20 Buy Keith Ray Individual 16. Mar 20 18. Mar 20 20,800 $7.54 $144,061
18. Mar 20 Buy Francis J. Newbould Individual 18. Mar 20 18. Mar 20 1,000 $6.33 $6,329
18. Mar 20 Buy Edward Gilbert Individual 17. Mar 20 18. Mar 20 5,000 $7.03 $34,411
17. Mar 20 Buy Jonathan Mair Individual 16. Mar 20 17. Mar 20 6,000 $7.34 $43,143
16. Mar 20 Buy Jonathan Mair Individual 16. Mar 20 16. Mar 20 3,000 $7.60 $22,805
12. Mar 20 Buy Edward Gilbert Individual 12. Mar 20 12. Mar 20 10,000 $8.67 $86,711
12. Mar 20 Buy Jonathan Mair Individual 12. Mar 20 12. Mar 20 5,000 $8.30 $41,507
10. Oct 19 Buy Francis J. Newbould Individual 09. Oct 19 09. Oct 19 1,000 $10.43 $10,427
27. Sep 19 Sell Boris Baril Individual 21. Aug 19 27. Aug 19 -2,760 $10.49 $-28,943
20. Aug 19 Buy Francis J. Newbould Individual 20. Aug 19 20. Aug 19 750 $10.33 $7,745
07. Jun 19 Sell Morris Fischtein Individual 06. Jun 19 06. Jun 19 -1,000 $10.11 $-10,110
07. Jun 19 Buy Morris Fischtein Individual 06. Jun 19 06. Jun 19 1,000 $10.12 $10,121
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Management checks
We assess Firm Capital Mortgage Investment's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Firm Capital Mortgage Investment has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FCMG.F News

Simply Wall St News

FCMG.F Company Info

Description

Firm Capital Mortgage Investment Corporation, through its mortgage banker Firm Capital Corporation, provides residential and commercial 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 services, 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 situations loans; and various types of lending facilities to mortgage brokers. It also provides asset management and related investment services. The company was founded in 1988 and is based in Toronto, Canada.

Details
Name: Firm Capital Mortgage Investment Corporation
FCMG.F
Exchange: OTCPK
Founded: 1988
CA$204,706,858
28,700,266
Website: http://firmcapital.com/fcmic
Address: Firm Capital Mortgage Investment Corporation
163 Cartwright Avenue,
Toronto,
Ontario, M6A 1V5,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX FC Common Shares The Toronto Stock Exchange CA CAD 06. Oct 1999
OTCPK FCMG.F Common Shares Pink Sheets LLC US USD 06. Oct 1999
Number of employees
Current staff
Staff numbers
1
Firm Capital Mortgage Investment employees.
Industry
Thrifts and Mortgage Finance
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/01 03:26
End of day share price update: 2020/03/25 00:00
Last estimates confirmation: 2020/03/24
Last earnings filing: 2020/03/18
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.