FCAFF (Firm Capital Apartment REIT) ROE %: -4.25% (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FCAFF Firm Capital Apartment REIT FCAFF
68 GF Score
Price $2.75
GF Value $2.36
! 5 Warning Signs
View Full Analysis

What is Firm Capital Apartment REIT ROE %?

Firm Capital Apartment REIT FCAFF 68 ROE % is -4.25% as of Mar. 2026. GuruFocus rates FCAFF with a GF Score™ of 68/100 and a GF Value™ of $2.36. The stock has 5 warning signs investors should review. Among 932 REITs companies, Firm Capital Apartment REIT ranks worse than 95.82% on this metric.

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Firm Capital Apartment REIT's annualized net income for the quarter that ended in Mar. 2026 was $-1.81 Mil. Firm Capital Apartment REIT's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was $42.68 Mil. Therefore, Firm Capital Apartment REIT's annualized ROE % for the quarter that ended in Mar. 2026 was -4.25%.

The historical rank and industry rank for Firm Capital Apartment REIT's ROE % or its related term are showing as below:

FCAFF' s ROE % Range Over the Past 10 Years
Min: -20.95   Med: -1.86   Max: 11.2
Current: -16.16

During the past 13 years, Firm Capital Apartment REIT's highest ROE % was 11.20%. The lowest was -20.95%. And the median was -1.86%.

FCAFF's ROE % is ranked worse than
95.82% of 932 companies
in the REITs industry
Industry Median: 6.13 vs FCAFF: -16.16

Firm Capital Apartment REIT  (OTCPK:FCAFF) ROE % Explanation

ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.

The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:

ROE %(Q: Mar. 2026 )
=Net Income/Total Stockholders Equity
=-1.812/42.683
=(Net Income / Revenue )*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(-1.812 / 5.984)*(5.984 / 78.293)*(78.293 / 42.683)
=Net Margin %*Asset Turnover*Equity Multiplier
=-30.28 %*0.0764*1.8343
=ROA %*Equity Multiplier
=-2.31 %*1.8343
=-4.25 %

With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.

The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:

ROE %(Q: Mar. 2026 )
=Net Income/Total Stockholders Equity
=-1.812/42.683
=(Net Income / Pre-Tax Income) * (Pre-Tax Income / Operating Income) * (Operating Income / Revenue) * (Revenue / Total Assets) * (Total Assets / Total Stockholders Equity)
= (-1.812 / -1.812) * (-1.812 / 0.628) * (0.628 / 5.984) * (5.984 / 78.293) * (78.293 / 42.683)
= Tax Burden * Interest Burden * Operating Margin % * Asset Turnover * Equity Multiplier
= 1 * -2.8854 * 10.49 % * 0.0764 * 1.8343
=-4.25 %

Note: The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.

* 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

Net Income is used.

Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.


Firm Capital Apartment REIT ROE % Related Terms


Firm Capital Apartment REIT ROE % Historical Data

* Premium members only.

The historical data trend for Firm Capital Apartment REIT's ROE % 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.

Firm Capital Apartment REIT ROE % Chart

Firm Capital Apartment REIT Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.02 -20.28 -15.08 -6.63 -15.23

Firm Capital Apartment REIT Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -0.59 -0.42 -46.25 -13.72 -4.25

FCAFF vs AVB, EQR, ESS: ROE % Comparison

For the REIT - Residential subindustry, Firm Capital Apartment REIT's ROE %, along with its competitors' market caps and ROE % 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.


Firm Capital Apartment REIT ROE % vs REITs Industry

For the REITs industry and Real Estate sector, Firm Capital Apartment REIT's ROE % distribution charts can be found below:

* The bar in red indicates where Firm Capital Apartment REIT's ROE % falls into.


FCAFF
68GF Score
Firm Capital Apartment REIT FCAFF
ROE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Firm Capital Apartment REIT ROE % Calculation

Firm Capital Apartment REIT's annualized ROE % for the fiscal year that ended in Dec. 2025 is calculated as

ROE %=Net Income (A: Dec. 2025 )/( (Total Stockholders Equity (A: Dec. 2024 )+Total Stockholders Equity (A: Dec. 2025 ))/ count )
=-7.074/( (49.983+42.909)/ 2 )
=-7.074/46.446
=-15.23 %

Firm Capital Apartment REIT's annualized ROE % for the quarter that ended in Mar. 2026 is calculated as

ROE %=Net Income (Q: Mar. 2026 )/( (Total Stockholders Equity (Q: Dec. 2025 )+Total Stockholders Equity (Q: Mar. 2026 ))/ count )
=-1.812/( (42.909+42.457)/ 2 )
=-1.812/42.683
=-4.25 %

* 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 ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Mar. 2026) net income data. ROE % is displayed in the 30-year financial page.

Frequently Asked Questions Learn more about ROE % →
What does a ROE % of -4.25% mean?
Firm Capital Apartment REIT (FCAFF) has a ROE % of -4.25% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Firm Capital Apartment REIT and its competitors. According to the industry distribution chart, Firm Capital Apartment REIT ranks #893 out of 932 companies in the REITs industry, placing it in the top 95.8%.
Is Firm Capital Apartment REIT's ROE % too high?
Firm Capital Apartment REIT's current ROE % is -4.25%. Based on the distribution chart, Firm Capital Apartment REIT ranks #893 out of 932 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Firm Capital Apartment REIT has a GF Score™ of 68/100, reflecting its overall financial health beyond just this single metric.
How does Firm Capital Apartment REIT's ROE % compare to AVB and EQR?
According to the REITs industry distribution chart, Firm Capital Apartment REIT ranks #893 out of 932 companies for ROE %. This places Firm Capital Apartment REIT in the lower half of its industry. The industry median ROE % is 6.13. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a REITs company?
The median ROE % among REITs companies is 6.13, based on 932 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Firm Capital Apartment REIT and its competitors. For the REITs industry, the median ROE % is 6.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Firm Capital Apartment REIT's current ROE % is -4.25%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Firm Capital Apartment REIT stock overvalued right now?
Firm Capital Apartment REIT (FCAFF) has a current ROE % of -4.25%. The stock's GF Value™ is $2.36, compared to a current price of $2.75 — trading 16.5% above its estimated fair value. The current ROE % is -4.25%. Firm Capital Apartment REIT's overall GF Score™ is 68/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Firm Capital Apartment REIT (FCAFF), the current ROE % is -4.25% as of Mar. 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 Firm Capital Apartment REIT (FCAFF) Overvalued in 2026?

Based on GuruFocus' analysis, Firm Capital Apartment REIT stock appears to be overvalued. The current stock price of $2.75 is trading 16.5% above its estimated GF Value™ of $2.36.

Key valuation signals for FCAFF:

  • ROE %: -4.25%
  • GF Value™: $2.36 vs. price of $2.75 (16.5% above fair value)
  • GF Score™: 68/100 with 5 warning signs

No single metric tells the full story. See the FCAFF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Firm Capital Apartment REIT Business Description

Industry Real EstateREITs
Other Exchanges FCA.U:CanadaFCA.UN:Canada
Address 163 Cartwright Avenue, Toronto, ON, CAN, M6A 1V5
Firm Capital Apartment REIT is a real estate investment trust that pursues multi-residential income-producing real estate and related debt investments on both a wholly owned and joint venture basis. The Trust generates its revenue from the USA.
68GF Score

Get the complete analysis for FCAFF

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

$2.75
Price
$2.36
GF Value