First Capital SpAMIL:FIC -1.19%43 ROA % is 11.73% as of Dec. 2025, which is 95% above its 10-year median of 6.03. 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 819 Capital Markets companies, First Capital SpA ranks better than 88.4% on this metric.
ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. First Capital SpA's annualizedNet Income for the quarter that ended in Dec. 2025 was €15.15 Mil.
First Capital SpA's average Total Assets over the quarter that ended in Dec. 2025 was €129.17 Mil. Therefore, First Capital SpA's annualized ROA % for the quarter that ended in Dec. 2025 was 11.73%.
The historical rank and industry rank for First Capital SpA's ROA % or its related term are showing as below:
MIL:FIC'
s ROA % Range Over the Past 10 Years
Min: -7.3 Med: 6.03 Max: 24.4
Current: 11.85
During the past 13 years, First Capital SpA's highest ROA % was 24.40%. The lowest was -7.30%. And the median was 6.03%.
MIL:FIC's ROA % is ranked better than 88.4% of 819
companies
in the Capital Markets industry
Industry Median: 1.5
vs MIL:FIC: 11.85
First Capital SpA (MIL:FIC) ROA % Explanation
ROA % measures the rate of return on the total assets (shareholder equity plus liabilities). It measures a firm's efficiency at generating profits from shareholders' equity plus its liabilities. ROA % shows how well a company uses what it has to generate earnings. ROA %s can vary drastically across industries. Therefore, ROA % should not be used to compare companies in different industries. For retailers, a ROA % of higher than 5% is expected. For example, Wal-Mart (WMT) has a ROA % of about 8% as of 2012. For banks, ROA % is close to their interest spread. A banks ROA % is typically well under 2%.
Similar to ROE, ROA % is affected by profit margins and asset turnover. This can be seen from the Du Pont Formula:
Note:
The Net Income data used here is two times the semi-annual (Dec. 2025) net income data. The Revenue data used here is two times the semi-annual (Dec. 2025) revenue data.
* 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.
Be Aware
Like ROE, ROA % is calculated with only 12 months data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. ROA % can be affected by events such as stock buyback or issuance, and by goodwill, a company's tax rate and its interest payment. ROA % may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high ROA % may indicate vulnerability in the durability of the competitive advantage.
E.g. Raising $43b to take on KO is impossible, but $1.7b to take on Moody's is. Although Moody's ROA % and underlying economics is far superior to Coca Cola, the durability is far weaker because of lower entry cost.
First Capital SpA ROA % Related Terms
First Capital SpA ROA % Historical Data
* Premium members only.
The historical data trend for First Capital SpA's ROA % 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 ROA %, along with its competitors' market caps and ROA % 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 ROA % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, First Capital SpA's ROA % distribution charts can be found below:
* The bar in red indicates where First Capital SpA's ROA % 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 ROA %, the net income of the last fiscal year and the average total assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is two times the semi-annual (Dec. 2025) net income data.
ROA % is displayed in the 30-year financial page.
First Capital SpA (MIL:FIC) has a ROA % of 11.73% as of Dec. 2025. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on First Capital SpA and its competitors. This is 95% above median its historical median of 6.03. According to the industry distribution chart, First Capital SpA ranks #95 out of 819 companies in the Capital Markets industry, placing it in the top 11.6%.
Is First Capital SpA's ROA % too high?
First Capital SpA's current ROA % of 11.73% is 95% above median its 10-year median of 6.03. The Capital Markets industry median ROA % is 1.50. First Capital SpA's value of 11.73% is 682% above this industry median. Based on the distribution chart, First Capital SpA ranks #95 out of 819 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 43/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does First Capital SpA's ROA % compare to MS and GS?
According to the Capital Markets industry distribution chart, First Capital SpA ranks #95 out of 819 companies for ROA %. This places First Capital SpA in the top 12% of its industry — outperforming the majority of peers. The industry median ROA % is 1.50. First Capital SpA's value of 11.73% is 682% above this benchmark. While the company's 10-year median is 6.03 vs. the industry median of 1.50, 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 ROA % for a Capital Markets company?
The median ROA % among Capital Markets companies is 1.50, based on 819 companies in the industry. Companies in the top quartile (top 25%) have a ROA % significantly above this median, while those in the bottom quartile fall well below. However, ROA % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Capital SpA's current ROA % of 11.73% is 682% 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 ROA % mean?
A high ROA % can signal that a stock is expensive relative to its fundamentals. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on First Capital SpA and its competitors. For the Capital Markets industry, the median ROA % is 1.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Capital SpA's current ROA % is 11.73%, which is 95% above median its own 10-year median of 6.03. 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 ROA % is 11.73%, which is 95% above median its 10-year median of 6.03 and 682% above the Capital Markets industry median of 1.50. 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 ROA % calculated?
ROA % is calculated from a company's financial statements. For First Capital SpA (MIL:FIC), the current ROA % is 11.73% 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.
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:
ROA %: 11.73% (95% above median its 10-year median of 6.03)
GF Value™: €66.94 vs. price of €16.60 (75.2% below fair value)
Industry Position: 682% above the Capital Markets median (#95 of 819)
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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