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First Capital S.p.A.

First Capital S.p.A.

MMIL:FIC
17.20
EUR
0.00
(0.00%)
69.94MMarket Cap
First Capital S.p.A.
MIL:FIC
(Euronext Milan)

Recent

price

17.20

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
EUR
0.2
0.59
0.25
0.86
2.02
0.87
0.98
2.62
-0.22
2.59
0.72
0.88
-2.33
2.54
1.32
7.03
- -
Revenue per Share
-0.05
0.27
-0.16
0.43
1.56
0.27
0.27
1.89
-0.75
4.66
2.95
9.07
-3.04
0.89
-0.22
4.2
- -
Basic EPS, GAAP
-0.04
1.6
- -
0.84
0.06
0.41
0.37
1.79
-3.77
8.69
0.56
-2.52
-3.74
4.91
-3.98
0.67
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
0.24
0.68
0.33
0.37
0.01
0.63
0.38
- -
- -
1.09
0.11
2.29
- -
Dividend per Share
8.55
8.82
8.5
8.93
10.22
11.11
11.25
13.17
12.58
17.39
20.65
29.63
26.55
26.47
26.14
27.1
27.1
Book Value per Share
8.37
8.67
8.39
8.86
10.2
11.09
11.24
13.17
12.57
17.39
20.64
29.63
26.55
26.41
25.68
26.72
26.72
Tangible Book Value per Share
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
Basic Weighted Avg Shares
1
2
1
2
6
2
3
8
-1
7
2
3
-7
8
4
24
- -
Sales/Revenue/Turnover
28.95
45.98
-30.39
52.41
76.73
50.36
56.58
72.65
336.4
180.16
478.74
1,136.7
112.68
75.84
19.67
79.12
- -
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
- -
1
- -
1
4
1
1
5
-2
13
8
26
-9
3
-1
15
- -
Net Income, GAAP
- -
23.6
- -
4.66
1.42
20.09
16.76
- -
- -
- -
16.19
1.2
- -
25.4
78.07
10.14
- -
Effective Tax Rate (%)
-23.3
45.73
-64.23
49.93
77.16
31.44
27.32
71.85
338.51
179.97
407.77
1,033.82
130.48
35
-16.77
59.68
- -
Profit Margin (%)
- -
5
6
8
8
14
11
15
3
25
30
25
12
19
5
11
11
Working Capital
- -
- -
- -
1
1
10
9
5
8
24
28
34
33
31
25
30
30
LT Debt
23
24
23
24
29
30
32
38
34
47
57
88
81
81
81
104
104
Total Equity
- -
1.91
- -
4.87
16.18
2.11
1.87
- -
- -
- -
11.1
28.89
- -
3.54
0.15
14.33
- -
Return on Invested Capital (%)
- -
3.09
- -
4.87
16.25
2.87
2.86
- -
- -
- -
11.42
27.06
- -
2.64
-1.1
12.96
- -
Return on Capital (%)
-0.77
3.09
-1.84
4.93
16.55
2.49
2.46
15.48
-5.68
31.06
15.48
37.12
-10.9
3.38
-0.84
16.93
- -
Return on Common Equity (%)

Capital Structure

EUR

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
- -
- -
- -
LT Borrowings
25
24
30
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3
3
3
Market Capitalization
47
53
70

Working Capital

EUR

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
6
6
16
Cash, Cash Equivalents & STI
5
4
14
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
1
1
5
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

EUR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
14.88%
15%
27.65%
Free Cash Flow
-140.63%
-212.88%
-119.54%
Net Income, GAAP
-274.62%
-494.05%
-2,312.03%
Sales/Revenue/Turnover
-132.44%
-15.27%
521.67%
Total Cash Common Dividend
- -
- -
2,272.6%

Semi-annual Revenue

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
8
2024
- -
- -
4
2025
- -
- -
24

Semi-annual Earnings Per Share

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.89
2024
- -
- -
-0.22
2025
- -
- -
4.2

Semi-annual Dividends Per Share

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
1.09
2024
- -
- -
0.11
2025
- -
- -
2.29
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Business
First Capital S.p.A. is an independent financial holding and investment company specializing in private equity, private investment in public equity (PIPE), and pre-IPO financing solutions for small and medium-sized enterprises (SMEs). Founded in 2008 and headquartered in Milan, Italy, the company operates primarily across the Italian market, targeting high-growth businesses across diverse industries such as industrial manufacturing, specialized services, information technology, healthcare, and the circular economy. The firm provides tailored equity, debt, and managerial solutions structured into systematic offerings: private equity financing, comprising growth capital, expansion equity, and minority or controlling investments in private enterprises; private investment in public equity (PIPE) transactions, involving significant equity stakes in listed small and mid-cap companies on public markets such as Euronext Growth Milan; pre-IPO acceleration and bridge financing, assisting private firms with capital structuring and regulatory readiness ahead of public listings; hybrid and structured financial instruments, consisting of ordinary and preference shares, convertible bond issues, subordinated loans, and equity warrants; active governance and advisory services, including board-level strategic management, M&A guidance, capital restructuring, and international growth support; and dedicated investment vehicle management, structured through First SICAF S.p.A., an alternative investment fund platform reserved for professional investors, and the First4Progress series of search investment vehicles (SIVs). In recent company developments, First Capital has expanded its investment vehicle infrastructure through the introduction and deployment of First4Progress 2 to co-invest alongside First SICAF in high-potential growth enterprises. The company has also strategically diversified its portfolio into sustainable and circular economy sectors, notably acquiring a significant equity stake in Recupero Etico Sostenibile S.p.A. (RES), investing in specialized healthcare retail provider Più Medical, and executing portfolio optimization transactions such as the exit of its stake in Orsero S.p.A. via an accelerated bookbuilding procedure.