Firm Capital Mortgage Investment Corporation (T:FC)
Business Focus: Corporate Financial Services
| Sector: Financials | Industry: Corporate Financial Services |
| See Regulatory Filings on SEDAR | |
| Company Contact | |
| Address: | 163 Cartwright Ave NORTH YORK ON M6A 1V5 |
| Tel: | N/A |
| Website: | firmcapital.com/fcmic |
| IR: | See website |
| Key People | ||
| Stanley Goldfarb Independent Chairman of the Board | Eli Dadouch President, Chief Executive Officer, Director | Boris Baril Chief Financial Officer |
| Jonathan Mair Chief Operating Officer, Executive Vice President, Director | Sandy I. Poklar Executive Vice President, Managing Director - Finance | Joseph Fried General Counsel, Secretary |
| Business Overview |
| Firm Capital Mortgage Investment Corporation is a Canada-based mortgage investment company. The Company is a non-bank lender that finances a range of properties, which include residential houses, small multi-family residential properties consisting of approximately six units, residential apartment buildings, mixed-use residential apartments and store-front properties, investment properties, land and development sites, and development and construction projects. It also invests in all forms of short-term bridge financing for residential and commercial real estate (including, primarily, construction loans for such properties) for owners and developers. Its investment portfolio includes conventional first mortgages, conventional non-first mortgages, non-conventional mortgages, discounted debt investments and related investments. Its non-conventional mortgages include equity and participating mortgage loans; joint venture financing, and mezzanine and subordinated mortgage debt. |
| Financial Overview |
| For the three months ended 31 March 2020, Firm Capital Mortgage Investment Corp revenues decreased 11% to C$10.6M. Net income decreased 5% to C$6.2M. Revenues reflect Other income decrease of 10% to C$73K. Net income also reflects General and administrative expenses increase of 36% to C$332K (expense). Dividend per share remained flat at C$0.23. Basic Earnings per Share excluding Extraordinary Items decreased from C$0.25 to C$0.22. |
| Employees: | 1 as of Dec 31, 2019 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | N/A |
| Annual revenue (TTM): | $46.03M as of Mar 31, 2020 |
| EBITDA (TTM): | $29.33M as of Mar 31, 2020 |
| Net annual income (TTM): | $27.65M as of Mar 31, 2020 |
| Free cash flow (TTM): | $12.04M as of Mar 31, 2020 |
| Net Debt Last Fiscal Year: | $195.69M as of Mar 31, 2020 |
| Shares outstanding: | 28,700,531 as of Apr 20, 2020 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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