First Capital Holdings Public Limited Company

CFVF.N0000Fairly valued

Banks & Finance · Investment Banks/Brokers

First Capital Holdings PLC is a Colombo Stock Exchange listed holding company that provides integrated financial services and capital market solutions across Sri Lanka through a group of operating subsidiaries.

CFVF shares are down 36.1% over the past year and last closed at Rs 39.60 on Sep 30, 2026.

Rs 39.60
-1.00%
Price history
-36.13%

Monthly seasonality

Monthly total returns by year and calendar month
YearJanFebMarAprMayJunJulAugSepOctNovDec
2026+4.8-7.5-12.0+11.5-8.5-2.2-10.2-5.9-11.2+0.0+0.0+0.0
2025-0.5-7.1-5.4-1.1+5.8-3.8+11.4+34.6+18.1-6.6+1.9+5.1
2024+1.1-7.4+31.7-11.0-6.2+0.3-4.8-1.1+12.9-2.3+10.0+20.6
2023+37.6-9.6-10.6-8.2+1.7+9.4+38.0+15.6-5.8-38.2+6.9-13.6
2022+1.9-2.1-27.9+0.0+0.0-10.0+2.2+16.3+78.5-6.8+41.6+13.9
2021+0.0-9.7+5.0-17.2+8.4+5.1+7.8-18.7-2.2+3.6-10.1+3.9
2020+2.2-15.7-34.3+0.0+0.0+33.3+10.2+5.9-5.4-7.9+4.4+0.5
2019-5.1-10.4-7.6-2.6+28.0+0.0+77.1+2.4-7.9-9.6-6.9+0.2
2018+8.3-4.7-8.6-4.4+0.3-3.3+3.4+0.7-10.4+0.0-3.3+10.5
2017-6.5-15.2-2.9+32.5+0.4+18.0+14.6-1.9+0.6+9.6-12.6-0.9
2016-20.0-10.5+7.3+24.0-16.0-5.0+18.4-4.0+53.7-9.6-11.0-2.6
2015-2.1-10.0-34.8+52.6-7.8-8.7+6.6+6.5-20.8-5.4-8.5-7.4
2014+21.1-11.8+3.2+8.8-0.5-2.9+22.2+30.2+70.6-6.7-6.8-1.9
2013-3.3+0.9-4.3+16.1+24.6+15.4-1.1+1.6-21.3+10.1-1.8+9.4
2012+0.0+0.0+0.0+0.0-27.3+25.0-2.0+41.8+7.9-17.3-3.2+0.0
Average+2.8-8.6-7.2+7.8+0.2+4.7+12.9+8.3+10.5-6.2+0.0+2.7
ASPI average+3.1-2.7-4.7+2.0+0.2+0.8+3.1+2.2+3.2-0.1+1.0+3.0
Median+0.5-9.7-6.5+0.0+0.3+0.0+7.8+2.4-2.2-6.7-3.2+0.4
% up50%7%29%46%54%47%73%67%47%21%36%57%
P/E
-
P/B
2.22
EPS
Rs -1.73
Div Yield
17.68%
Market Cap
Rs 16.0B
Beta
1.71
ROE
-9.7%
Op Margin
-47.2% (-116.9pp)

Fundamentals

LineFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Total income
Rs 15.1B
+7.3%
Rs 14.1B
-30.4%
Rs 20.2B
+258.8%
Rs 5.6B
+2,976.1%
Rs 183.1M
-97.0%
Rs 6.0B
+15.6%
Rs 5.2B
+25.2%
Rs 4.2B
-0.4%
Operating profit
Rs 3.5B
-46.9%
Rs 6.7B
-59.0%
Rs 16.3B
+326.3%
Rs 3.8B
Rs -770.5M
Rs 2.9B
+70.2%
Rs 1.7B
+1,832.9%
Rs 88.4M
-92.3%
Net profit
Rs 2.1B
-58.0%
Rs 5.0B
-50.6%
Rs 10.2B
+283.7%
Rs 2.6B
turned profitable
Rs -652.3M
fell into loss
Rs 2.1B
+95.1%
Rs 1.1B
+14,118.9%
Rs 7.5M
-99.6%
EPS
4.77
-58.8%
11.58
-47.7%
22.15
+283.2%
5.78
-1.50
19.66
+97.8%
9.94
+49,600.0%
0.02
-99.9%

Compared with the same period a year earlier.

Per-share figures are as reported, not adjusted for splits.

Recent dividends

  • 2026 · first interimRs 7.00
  • 2025 · first interimRs 7.50
  • 2024 · second interimRs 5.00
  • 2024 · first interimRs 12.25
  • 2023 · first interimRs 2.25
  • 2021 · first interimRs 5.00
  • 2020 · second interimRs 5.00
  • 2020 · first interimRs 4.00
Peer comparison4 peers in Banks & Finance
P/E
10.3
P/B
1.37
ROE
12.14%
Yield
8.20%
FCT.N0000 · same group, not in the median
Rs 26.80
P/E
10.3
P/B
2.39
ROE
21.00%
Yield
18.66%
Rs 39.60
P/E
-
P/B
2.22
ROE
-9.67%
Yield
17.68%
Rs 43.10
P/E
-
P/B
1.71
ROE
-26.44%
Yield
27.84%
Rs 11.20
P/E
24.3
P/B
2.14
ROE
7.89%
Yield
-
Peer median · 3 companies
P/E -P/B 1.71Yield -

About First Capital Holdings Public Limited Company

First Capital Holdings PLC is a Colombo Stock Exchange listed holding company that provides integrated financial services and capital market solutions across Sri Lanka through a group of operating subsidiaries. The Group offers multi-asset class capabilities supported by research, digital distribution and shared service functions to deliver advisory, dealing, asset management and broking services. The company operates across five core business areas: government securities, corporate finance advisory, corporate dealing securities, asset management and stock brokering. Its asset management business offers unit trusts, money market funds and customised portfolios for retail and institutional clients, while other businesses facilitate access to government securities markets, provide corporate finance and advisory services, and execute dealing and broking activities. First Capital Holdings is the parent of First Capital Limited (its 100% owned operating company), which in turn holds full or majority ownership of subsidiaries including First Capital Treasuries PLC, First Capital Asset Management Limited, First Capital Equities (Private) Limited, First Capital Advisory Services (Private) Limited, First Capital Trustee Services (Private) Limited and First Capital Markets Limited; regulated businesses in the Group are licensed by the Securities and Exchange Commission of Sri Lanka and/or the Central Bank of Sri Lanka. The Group serves the Sri Lankan market.

AI analysis

bearish

First Capital has swung into a LKR 726 million quarterly loss after a strong audited year. Its 14.6% dividend yield does not offset sharply weaker current earnings and an expensive sector valuation.

Read the full report (Aug 14, 2026) →

News sentiment

Describes news flow, not a forecast
Last 30 days
Not enough news to read

No scored news in the last 30 days.

24 months positive negative 3-month net
Nov 24: 1 articles, net -1.00Feb 25: 2 articles, net -0.67Apr 25: 2 articles, net +1.00May 25: 3 articles, net +0.58Jun 25: 1 articles, net +1.00Aug 25: 3 articles, net +1.00Sep 25: 1 articles, net +1.00Oct 25: 2 articles, net -0.67Nov 25: 1 articles, net +1.00Dec 25: 1 articles, net +1.00Feb 26: 1 articles, net -1.00Jun 26: 1 articles, net -1.00Aug 26: 1 articles, net -1.00Sep 24Jan 25May 25Sep 25Jan 26May 26
Recent news
View all news →
Ada Derana·Sep 24, 2026·Award or certificationPositive
JXG's Spartans I Graduates step forward to forge their futures

Janashakthi Limited (JXG) celebrated graduation of its inaugural Spartans I 18-month Management Trainee Programme, with graduates placed across JXG and subsidiaries including First Capital and Janashakthi Finance as part of its talent-pipeline development.

Daily FT·Aug 18, 2026·Earnings & resultsNegative
JXG posts Rs. 6.4 b 1Q revenue in maiden results post-CSE listing

Janashakthi Limited (JXG) reported maiden Q1 FY27 consolidated revenue of Rs.6.4bn and a group loss of Rs.780.8m, driven by mark-to-market losses on fixed-income trading at First Capital. Janashakthi Insurance posted NPAT of Rs.129m and Janashakthi Finance NPAT of Rs.90.4m, while First Capital recorded an Ld of Rs.726m.

Interest Rates
Ada Derana·Aug 17, 2026·Earnings & resultsNegative
JXG Posts LKR 6.4Bn Revenue in Maiden Results Post-CSE Listing, Amid Global Headwinds

Janashakthi PLC (JXG) reported maiden Q1 FY27 consolidated revenue of LKR 6.4Bn and a Group loss of LKR 780.8Mn, driven by mark-to-market losses on fixed-income positions amid short-term interest rate volatility. First Capital reported a LKR 726Mn loss, while Janashakthi Insurance posted NPAT of LKR 129Mn (GWP +36% to LKR 5.1Bn) and Janashakthi Finance saw NPAT rise 51% to LKR 90.4Mn; the group is pursuing a proposed acquisition of Continental Insurance Lanka subject to approval.

Interest Rates
Ada Derana·Aug 14, 2026·Guidance & outlookNegative
First Capital navigates market volatility in first quarter of financial year 2026/27

First Capital Holdings PLC reported a Loss after Tax of Rs. 726Mn for Q1 FY2026/27 versus a Profit of Rs. 2.15Bn a year earlier, with a Net Trading Loss before operating expenses of Rs. 565Mn as interest-rate moves and adverse mark-to-market trading hit fixed-income businesses; the Primary Dealer reported a Rs. 741Mn loss. The group noted a 100bp policy rate rise and continued contributions from advisory, wealth management and brokering divisions, and First Capital Treasuries PLC and the holding

Interest Rates
Daily FT·Jul 23, 2026·Award or certificationPositive
First Capital Sets a New Benchmark for Sustainability in Sri Lanka's Capital Markets

First Capital Holdings PLC (a JXG subsidiary) achieved multiple sustainability firsts in FY2025/26, becoming the first investment institution globally to receive the SSCI Certificate of Acceptance and Sri Lanka's first investment institution to join UNGC, WEP and PCAF. The firm also joined PRI, verified its carbon emissions and is embedding ESG and SLFRS S1/S2 readiness into governance and investment processes.

Ada Derana·Jul 23, 2026·Promotional / marketingPositive
First Capital enhances service experience with upgraded Negombo Branch

First Capital Holdings PLC unveiled a refurbished Negombo branch with modern interiors and an expanded team to enhance customer service. The upgrade, at one of its top-performing locations, reflects ongoing investment by First Capital (a subsidiary of Janashakthi Limited) in client touchpoints.

Daily FT·Jun 24, 2026·Earnings & resultsNegative
Listed company earnings contract for third straight quarter

First Capital Research: aggregate earnings of 271 listed companies fell 11.4% YoY in the March 2026 quarter (third straight quarter), but underlying earnings rose 30.1% YoY after adjusting for major one-offs. Food, Beverage & Tobacco dragged the aggregate result while retailing and telecom posted strong gains (e.g. UML, DIAL, SLTL, SINS).

Consumer Staples (FMCG)

Banks & Finance sector: what is happening

Last 14 days to Sep 30, 2026

With policy held at 8.75% amid 8.0% inflation, and Treasury and secondary bond yields rising during the window, banks face continued pressure to reprice deposits and loans while government-securities portfolios remain sensitive to yield moves. The rupee weakened and foreign investors sold rupee bonds for a second week. From 1 November, TIN verification will be required for bank accounts and credit cards, adding onboarding compliance.

Auto-generated from 45 sector news articles over 14 days. Not investment advice.