First Capital SpAMIL:FIC -1.19%43 EV-to-FCF is 36.31 as of Jun. 29, 2026, which is 1000% above its 10-year median of 3.30. GuruFocus rates MIL:FIC with a GF Score™ of 43/100 and a GF Value™ of €66.94 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 448 Capital Markets companies, First Capital SpA ranks worse than 82.14% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, First Capital SpA's Enterprise Value is €84.06 Mil.
First Capital SpA's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was €2.32 Mil. Therefore, First Capital SpA's EV-to-FCF for today is 36.31.
The historical rank and industry rank for First Capital SpA's EV-to-FCF or its related term are showing as below:
MIL:FIC'
s EV-to-FCF Range Over the Past 10 Years
Min: -9.94 Med: 3.3 Max: 44.3
Current: 36.31
During the past 13 years, the highest EV-to-FCF of First Capital SpA was 44.30. The lowest was -9.94. And the median was 3.30.
MIL:FIC's EV-to-FCF is ranked worse than 82.14% of 448
companies
in the Capital Markets industry
Industry Median: 9.145
vs MIL:FIC: 36.31
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
First Capital SpA's PE Ratio (TTM) for today is calculated as:
First Capital SpA's share price for today is €16.60.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. First Capital SpA's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was €4.524.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
First Capital SpA EV-to-FCF Related Terms
First Capital SpA EV-to-FCF Historical Data
* Premium members only.
The historical data trend for First Capital SpA's EV-to-FCF 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 Capital Markets subindustry, First Capital SpA's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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 EV-to-FCF vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, First Capital SpA's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where First Capital SpA's EV-to-FCF falls into.
First Capital SpA's current Enterprise Value is €84.06 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. First Capital SpA's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was €2.32 Mil.
* 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 (MIL:FIC) has a EV-to-FCF of 36.31 as of Jun. 29, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on First Capital SpA and its competitors. This is 1000% above median its historical median of 3.30. According to the industry distribution chart, First Capital SpA ranks #368 out of 448 companies in the Capital Markets industry, placing it in the top 82.1%.
Is First Capital SpA's EV-to-FCF too high?
First Capital SpA's current EV-to-FCF of 36.31 is 1000% above median its 10-year median of 3.30. The Capital Markets industry median EV-to-FCF is 9.15. First Capital SpA's value of 36.31 is 297% above this industry median. Based on the distribution chart, First Capital SpA ranks #368 out of 448 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, First Capital SpA has a GF Score™ of 43/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does First Capital SpA's EV-to-FCF compare to MS and GS?
According to the Capital Markets industry distribution chart, First Capital SpA ranks #368 out of 448 companies for EV-to-FCF. This places First Capital SpA in the lower half of its industry. The industry median EV-to-FCF is 9.15. First Capital SpA's value of 36.31 is 297% above this benchmark. While the company's 10-year median is 3.30 vs. the industry median of 9.15, 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 EV-to-FCF for a Capital Markets company?
The median EV-to-FCF among Capital Markets companies is 9.15, based on 448 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Capital SpA's current EV-to-FCF of 36.31 is 297% 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 EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on First Capital SpA and its competitors. For the Capital Markets industry, the median EV-to-FCF is 9.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Capital SpA's current EV-to-FCF is 36.31, which is 1000% above median its own 10-year median of 3.30. 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?
Based on GuruFocus' analysis, First Capital SpA (MIL:FIC) is currently considered Possible Value Trap. The stock's GF Value™ is €66.94, compared to a current price of €16.60 — trading 75.2% below its estimated fair value. The current EV-to-FCF is 36.31, which is 1000% above median its 10-year median of 3.30 and 297% above the Capital Markets industry median of 9.15. First Capital SpA's overall GF Score™ is 43/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For First Capital SpA (MIL:FIC), the current EV-to-FCF is 36.31 as of Jun. 29, 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 SpA (MIL:FIC) Overvalued in 2026?
Based on GuruFocus' analysis, First Capital SpA stock appears to be undervalued.
The current stock price of €16.60 is trading 75.2% below its estimated GF Value™ of €66.94.
GuruFocus considers First Capital SpA to be Possible Value Trap.
Key valuation signals for MIL:FIC:
EV-to-FCF: 36.31 (1000% above median its 10-year median of 3.30)
GF Value™: €66.94 vs. price of €16.60 (75.2% below fair value)
Industry Position: 297% above the Capital Markets median (#368 of 448)
No single metric tells the full story. See the MIL:FIC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
43GF Score
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