First Capital SpA (MIL:FIC) ROCE %: 19.04% (As of Dec. 2025)

What is First Capital SpA ROCE %?

First Capital SpA MIL:FIC -1.19% 43 ROCE % is 19.04% as of Dec. 2025. 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.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. First Capital SpA's annualized ROCE % for the quarter that ended in Dec. 2025 was 19.04%.

First Capital SpA (MIL:FIC) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

First Capital SpA ROCE % Related Terms

First Capital SpA ROCE % Historical Data

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The historical data trend for First Capital SpA's ROCE % 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 ROCE % Chart

First Capital SpA Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

ROCE %

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27.50

-5.57

5.47

2.17

16.27

First Capital SpA Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
ROCE %	Get a 7-Day Free Trial															13.18	-7.86	12.63	14.59	19.04

43GF Score

First Capital SpA MIL:FIC

ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.

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First Capital SpA ROCE % Calculation

First Capital SpA's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2025 )		(A: Dec. 2024 )		(A: Dec. 2025 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2025 )		(A: Dec. 2024 )		(A: Dec. 2025 )
	=	20.053	/	( ( (109.458 - 1.285)	+	(143.828 - 5.458) )	/ 2 )
	=	20.053	/	( (108.173	+	138.37)	/ 2 )
	=	20.053	/	123.2715
	=	16.27 %

First Capital SpA's ROCE % of for the quarter that ended in Dec. 2025 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2025 )		(Q: Jun. 2025 )		(Q: Dec. 2025 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2025 )		(Q: Jun. 2025 )		(Q: Dec. 2025 )
	=	23.956	/	( ( (114.512 - 1.291)	+	(143.828 - 5.458) )	/ 2 )
	=	23.956	/	( ( 113.221	+	138.37 )	/ 2 )
	=	23.956	/	125.7955
	=	19.04 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 19.04% mean?

First Capital SpA (MIL:FIC) has a ROCE % of 19.04% as of Dec. 2025.

Is First Capital SpA's ROCE % too high?

First Capital SpA's current ROCE % is 19.04%. The Capital Markets industry median ROCE % is 5.64. First Capital SpA's value of 19.04% is 237.6% above this industry median. 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 ROCE % compare to MS and GS?

First Capital SpA's ROCE % of 19.04% can be compared against companies in the Capital Markets industry. The industry median ROCE % is 5.64. First Capital SpA's value of 19.04% is 237.6% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good ROCE % for a Capital Markets company?

The median ROCE % among Capital Markets companies is 5.64, based on 693 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Capital SpA's current ROCE % of 19.04% is 237.6% 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 ROCE % mean?

A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Capital Markets industry, the median ROCE % is 5.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Capital SpA's current ROCE % is 19.04%. 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 ROCE % is 19.04% and 237.6% above the Capital Markets industry median of 5.64. 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 ROCE % calculated?

ROCE % is calculated from a company's financial statements. For First Capital SpA (MIL:FIC), the current ROCE % is 19.04% 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:

ROCE %: 19.04%
GF Value™: €66.94 vs. price of €16.60 (75.2% below fair value)
GF Score™: 43/100 with 3 warning signs
Industry Position: 237.6% above the Capital Markets median

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 Business Description

Industry Financial Services Capital Markets

Comparable Companies MIL:CFV MIL:AMB MIL:D MS GS SCHW HOOD ASX:MQG SHSE:600030 BSP:BPAC3 SZSE:300059 SHSE:601211 IBKR SHSE:601066 TSE:8604 SHSE:601688 SHSE:600999 IST:DSTKF SZSE:000776 LPLA

Address Viale Luigi Majno, 17/A, Milan, ITA, 20122

Website https://www.firstcapital.it

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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ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€16.60

Price

€66.94

GF Value

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