Firm Capital Mortgage Investment Corporation (T:FC)
Business Focus: Retail & Mortgage Banks
| Sector: Financials | Industry: Banks |
| Company Contact | |
| Address: | 163 Cartwright Ave TORONTO ON M6A 1V5 |
| Tel: | N/A |
| Website: | https://firmcapital.com/fcmic |
| IR: | See website |
| Key People | ||
| Eli Dadouch President, Chief Executive Officer, Director | Ryan M. Lim Chief Financial Officer | Jonathan Mair Chief Operating Officer, Executive Vice President, Director |
| Sandy I. Poklar Executive Vice President and Managing Director - Finance | Victoria Shali Granovski Senior Vice President - Credit and Equity Capital, Secretary, Director | |
| Business Overview |
| Firm Capital Mortgage Investment Corporation is a Canada-based company. The Company, through its mortgage banker, Firm Capital Corporation, is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing. It specializes in three investment areas: Mortgage Operations, Real Estate Operations and Special Situation Investments. Its investment objective is the preservation of shareholders' capital while providing shareholders with a stable stream of monthly dividends from the Company's investments. The Company achieves its investment objectives by pursuing a strategy of growth through investments in selected niche markets that are under-serviced by large lending institutions. FCC provides loan origination, underwriting, loan servicing, and syndication services. Its investment portfolio includes conventional first mortgages; conventional non-first mortgages; related debt investments; debtor in possession loan, and non-conventional mortgages. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Firm Capital Mortgage Investment Corp revenues increased 20% to C$71.9M. Net income increased 6% to C$34.2M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income was partially offset by Provision/(recovery) for impairment on i increase from C$3M to C$9.7M (expense). |
| Employees: | 1 as of Dec 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $554.25M as of Dec 31, 2023 |
| Annual revenue (TTM): | $71.90M as of Dec 31, 2023 |
| EBITDA (TTM): | $49.55M as of Dec 31, 2023 |
| Net annual income (TTM): | $34.16M as of Dec 31, 2023 |
| Free cash flow (TTM): | $30.71M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $173.43M as of Dec 31, 2023 |
| Shares outstanding: | 34,489,955 as of Apr 23, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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