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First Capital REITFCXXF -0.18%70 Debt-to-EBITDA is 15.48 as of Jun. 2026, which is 72% above its 10-year median of 9.00. GuruFocus rates FCXXF with a GF Score™ of 70/100 and a GF Value™ of $12.97 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 575 REITs companies, First Capital REIT ranks worse than 69.22% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for First Capital REIT's Debt-to-EBITDA or its related term are showing as below:
FCXXF'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 4.63 Med: 9 Max: 1314.04
Current: 9.24
During the past 13 years, the highest Debt-to-EBITDA Ratio of First Capital REIT was 1314.04. The lowest was 4.63. And the median was 9.00.
FCXXF's Debt-to-EBITDA is ranked worse than 69.22% of 575
companies
in the REITs industry
Industry Median: 6.56
vs FCXXF: 9.24
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
First Capital REIT Debt-to-EBITDA Related Terms
First Capital REIT Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for First Capital REIT's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the REIT - Retail subindustry, First Capital REIT's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
First Capital REIT Debt-to-EBITDA vs REITs Industry
For the REITs industry and Real Estate sector, First Capital REIT's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where First Capital REIT's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Jun. 2026) EBITDA data.
First Capital REIT (FCXXF) has a Debt-to-EBITDA of 15.48 as of Jun. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on First Capital REIT. This is 72% above median its historical median of 9.00. Over the past decade, First Capital REIT's Debt-to-EBITDA has ranged from 4.63 to 1,314.04. According to the industry distribution chart, First Capital REIT ranks #398 out of 575 companies in the REITs industry, placing it in the top 69.2%.
Is First Capital REIT's Debt-to-EBITDA too high?
First Capital REIT's current Debt-to-EBITDA of 15.48 is 72% above median its 10-year median of 9.00. Over the past 10 years, this metric has ranged from a low of 4.63 to a high of 1,314.04. The REITs industry median Debt-to-EBITDA is 6.56. First Capital REIT's value of 15.48 is 136% above this industry median. Based on the distribution chart, First Capital REIT ranks #398 out of 575 companies in the REITs industry, which is below the industry midpoint. Overall, First Capital REIT has a GF Score™ of 70/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Capital REIT's Debt-to-EBITDA compare to SPG and O?
According to the REITs industry distribution chart, First Capital REIT ranks #398 out of 575 companies for Debt-to-EBITDA. This places First Capital REIT in the lower half of its industry. The industry median Debt-to-EBITDA is 6.56. First Capital REIT's value of 15.48 is 136% above this benchmark. Historically, First Capital REIT's own Debt-to-EBITDA has ranged from 4.63 to 1,314.04 over the past decade. While the company's 10-year median is 9.00 vs. the industry median of 6.56, First Capital REIT has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a REITs company?
The median Debt-to-EBITDA among REITs companies is 6.56, based on 575 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Capital REIT's current Debt-to-EBITDA of 15.48 is 136% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on First Capital REIT. For the REITs industry, the median Debt-to-EBITDA is 6.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Capital REIT's current Debt-to-EBITDA is 15.48, which is 72% above median its own 10-year median of 9.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Capital REIT stock overvalued right now?
Based on GuruFocus' analysis, First Capital REIT (FCXXF) is currently considered Modestly Overvalued. The stock's GF Value™ is $12.97, compared to a current price of $16.49 — trading 27.1% above its estimated fair value. The current Debt-to-EBITDA is 15.48, which is 72% above median its 10-year median of 9.00 and 136% above the REITs industry median of 6.56. First Capital REIT's overall GF Score™ is 70/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For First Capital REIT (FCXXF), the current Debt-to-EBITDA is 15.48 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is First Capital REIT (FCXXF) Overvalued in 2026?
Based on GuruFocus' analysis, First Capital REIT stock appears to be overvalued.
The current stock price of $16.49 is trading 27.1% above its estimated GF Value™ of $12.97.
GuruFocus considers First Capital REIT to be Modestly Overvalued.
Key valuation signals for FCXXF:
Debt-to-EBITDA: 15.48 (72% above median its 10-year median of 9.00)
GF Value™: $12.97 vs. price of $16.49 (27.1% above fair value)
Industry Position: 136% above the REITs median (#398 of 575)
No single metric tells the full story. See the FCXXF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Capital REIT is a developer, owner and operator of grocery-anchored, open-air centres in neighbourhoods in Canada's populated centres. The company's focus is on creating thriving neighbourhoods that create value for businesses, residents, communities and investors.
70GF Score
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Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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