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First Capital SpAMIL:FIC -0.87%29 Earnings Yield (Joel Greenblatt) % is 20.79% as of Dec. 2025, which is 105% above its 10-year median of 10.12. GuruFocus rates MIL:FIC with a GF Score™ of 29/100. The stock has 3 warning signs investors should review. Among 775 Capital Markets companies, First Capital SpA ranks better than 89.03% on this metric.
First Capital SpA's Enterprise Value for the quarter that ended in Dec. 2025 was €96.52 Mil.
First Capital SpA's EBIT for the trailing twelve months (TTM) ended in Dec. 2025 was €20.05 Mil. First Capital SpA's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2025 was 20.79%.
The historical rank and industry rank for First Capital SpA's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
MIL:FIC'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -9.76 Med: 10.12 Max: 48.04
Current: 23.43
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of First Capital SpA was 48.04%. The lowest was -9.76%. And the median was 10.12%.
MIL:FIC's Earnings Yield (Joel Greenblatt) % is ranked better than 89.03% of 775
companies
in the Capital Markets industry
Industry Median: 2.77
vs MIL:FIC: 23.43
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. First Capital SpA's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2025 was 0.00%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
First Capital SpA (MIL:FIC) Earnings Yield (Joel Greenblatt) % Explanation
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
First Capital SpA Earnings Yield (Joel Greenblatt) % Related Terms
First Capital SpA Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for First Capital SpA's Earnings Yield (Joel Greenblatt) % 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.
First Capital SpA Earnings Yield (Joel Greenblatt) % Chart
For the Capital Markets subindustry, First Capital SpA's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % 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 SpA Earnings Yield (Joel Greenblatt) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, First Capital SpA's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where First Capital SpA's Earnings Yield (Joel Greenblatt) % falls into.
First Capital SpA Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
First Capital SpAs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
For company reported semi-annually or annually, GuruFocus only calculate annual data for Earnings Yield (Joel Greenblatt) and apply the annual figure to corresponding quarter.
What does a Earnings Yield (Joel Greenblatt) % of 20.79% mean?
First Capital SpA (MIL:FIC) has a Earnings Yield (Joel Greenblatt) % of 20.79% as of Dec. 2025. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on First Capital SpA and its competitors. This is 105% above median its historical median of 10.12. According to the industry distribution chart, First Capital SpA ranks #85 out of 775 companies in the Capital Markets industry, placing it in the top 11%.
Is First Capital SpA's Earnings Yield (Joel Greenblatt) % too high?
First Capital SpA's current Earnings Yield (Joel Greenblatt) % of 20.79% is 105% above median its 10-year median of 10.12. The Capital Markets industry median Earnings Yield (Joel Greenblatt) % is 2.77. First Capital SpA's value of 20.79% is 650.5% above this industry median. Based on the distribution chart, First Capital SpA ranks #85 out of 775 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, First Capital SpA has a GF Score™ of 29/100, reflecting its overall financial health beyond just this single metric.
How does First Capital SpA's Earnings Yield (Joel Greenblatt) % compare to MS and GS?
According to the Capital Markets industry distribution chart, First Capital SpA ranks #85 out of 775 companies for Earnings Yield (Joel Greenblatt) %. This places First Capital SpA in the top 11% of its industry — outperforming the majority of peers. The industry median Earnings Yield (Joel Greenblatt) % is 2.77. First Capital SpA's value of 20.79% is 650.5% above this benchmark. While the company's 10-year median is 10.12 vs. the industry median of 2.77, First Capital SpA 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 Earnings Yield (Joel Greenblatt) % for a Capital Markets company?
The median Earnings Yield (Joel Greenblatt) % among Capital Markets companies is 2.77, based on 775 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Capital SpA's current Earnings Yield (Joel Greenblatt) % of 20.79% is 650.5% 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 Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on First Capital SpA and its competitors. For the Capital Markets industry, the median Earnings Yield (Joel Greenblatt) % is 2.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Capital SpA's current Earnings Yield (Joel Greenblatt) % is 20.79%, which is 105% above median its own 10-year median of 10.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Capital SpA stock overvalued right now?
First Capital SpA (MIL:FIC) has a current Earnings Yield (Joel Greenblatt) % of 20.79%. The current Earnings Yield (Joel Greenblatt) % is 20.79%, which is 105% above median its 10-year median of 10.12 and 650.5% above the Capital Markets industry median of 2.77. First Capital SpA's overall GF Score™ is 29/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For First Capital SpA (MIL:FIC), the current Earnings Yield (Joel Greenblatt) % is 20.79% as of Dec. 2025. 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.
First Capital SpA is an investment holding company specialising in Public Equity and Private Equity Investments, focused on Small-Medium Enterprises, with an active approach to managing investee companies. It seeks investment opportunities among companies in niche markets with skilled management teams and with sustainable development plans. The company is a long-term investor which contributes to an increase of its target companies' value over time, supporting entrepreneurs for the creation of successful strategies, also through the appointment of its candidates in the administrative and supervisory bodies.
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