Real Estate - Services
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FSV vs CWK
Revenue, margins, valuation, and 5-year total return — side by side.
Real Estate - Services
FSV vs CWK — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Real Estate - Services | Real Estate - Services |
| Market Cap | $5.78B | $3.40B |
| Revenue (TTM) | $5.52B | $10.29B |
| Net Income (TTM) | $146M | $88M |
| Gross Margin | 31.8% | 17.3% |
| Operating Margin | 6.1% | 4.4% |
| Forward P/E | 20.5x | 10.1x |
| Total Debt | $1.62B | $3.24B |
| Cash & Equiv. | $180M | $784M |
FSV vs CWK — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| FirstService Corpor… (FSV) | 100 | 134.6 | +34.6% |
| Cushman & Wakefield… (CWK) | 100 | 141.8 | +41.8% |
Price return only. Dividends and distributions are not included.
Quick Verdict: FSV vs CWK
Each card shows where this stock fits in a portfolio — not just who wins on paper.
FSV carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 10 yrs, beta 0.64, yield 0.8%
- Rev growth 5.8%, EPS growth 6.4%, 3Y rev CAGR 13.8%
- 196.4% 10Y total return vs CWK's -18.4%
CWK is the clearest fit if your priority is growth and value.
- 8.9% FFO/revenue growth vs FSV's 5.8%
- Lower P/E (10.1x vs 20.5x)
- +45.2% vs FSV's -27.0%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 8.9% FFO/revenue growth vs FSV's 5.8% | |
| Value | Lower P/E (10.1x vs 20.5x) | |
| Quality / Margins | 2.6% margin vs CWK's 0.9% | |
| Stability / Safety | Beta 0.64 vs CWK's 1.90, lower leverage | |
| Dividends | 0.8% yield; 10-year raise streak; the other pay no meaningful dividend | |
| Momentum (1Y) | +45.2% vs FSV's -27.0% | |
| Efficiency (ROA) | 3.4% ROA vs CWK's 1.2%, ROIC 8.0% vs 7.9% |
FSV vs CWK — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
FSV vs CWK — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
FSV leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
CWK is the larger business by revenue, generating $10.3B annually — 1.9x FSV's $5.5B. Profitability is closely matched — net margins range from 2.6% (FSV) to 0.9% (CWK). On growth, CWK holds the edge at +10.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $5.5B | $10.3B |
| EBITDAEarnings before interest/tax | $521M | $556M |
| Net IncomeAfter-tax profit | $146M | $88M |
| Free Cash FlowCash after capex | $322M | $307M |
| Gross MarginGross profit ÷ Revenue | +31.8% | +17.3% |
| Operating MarginEBIT ÷ Revenue | +6.1% | +4.4% |
| Net MarginNet income ÷ Revenue | +2.6% | +0.9% |
| FCF MarginFCF ÷ Revenue | +5.8% | +3.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +2.9% | +10.8% |
| EPS Growth (YoY)Latest quarter vs prior year | +19.7% | -120.5% |
Valuation Metrics
CWK leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
At 38.2x trailing earnings, CWK trades at a 4% valuation discount to FSV's 39.8x P/E. On an enterprise value basis, CWK's 10.4x EV/EBITDA is more attractive than FSV's 13.8x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $5.8B | $3.4B |
| Enterprise ValueMkt cap + debt − cash | $7.2B | $5.9B |
| Trailing P/EPrice ÷ TTM EPS | 39.77x | 38.24x |
| Forward P/EPrice ÷ next-FY EPS est. | 20.51x | 10.06x |
| PEG RatioP/E ÷ EPS growth rate | 4.25x | — |
| EV / EBITDAEnterprise value multiple | 13.85x | 10.42x |
| Price / SalesMarket cap ÷ Revenue | 1.05x | 0.33x |
| Price / BookPrice ÷ Book value/share | 3.09x | 1.74x |
| Price / FCFMarket cap ÷ FCF | 17.84x | 11.62x |
Profitability & Efficiency
FSV leads this category, winning 8 of 9 comparable metrics.
Profitability & Efficiency
FSV delivers a 8.3% return on equity — every $100 of shareholder capital generates $8 in annual profit, vs $5 for CWK. FSV carries lower financial leverage with a 0.87x debt-to-equity ratio, signaling a more conservative balance sheet compared to CWK's 1.66x. On the Piotroski fundamental quality scale (0–9), CWK scores 6/9 vs FSV's 5/9, reflecting solid financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | +8.3% | +4.6% |
| ROA (TTM)Return on assets | +3.4% | +1.2% |
| ROICReturn on invested capital | +8.0% | +7.9% |
| ROCEReturn on capital employed | +10.0% | +7.2% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 |
| Debt / EquityFinancial leverage | 0.87x | 1.66x |
| Net DebtTotal debt minus cash | $1.4B | $2.5B |
| Cash & Equiv.Liquid assets | $180M | $784M |
| Total DebtShort + long-term debt | $1.6B | $3.2B |
| Interest CoverageEBIT ÷ Interest expense | 4.62x | 1.53x |
Total Returns (Dividends Reinvested)
CWK leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in CWK five years ago would be worth $8,289 today (with dividends reinvested), compared to $8,004 for FSV. Over the past 12 months, CWK leads with a +45.2% total return vs FSV's -27.0%. The 3-year compound annual growth rate (CAGR) favors CWK at 22.1% vs FSV's -4.1% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | -16.6% | -8.3% |
| 1-Year ReturnPast 12 months | -27.0% | +45.2% |
| 3-Year ReturnCumulative with dividends | -11.9% | +82.1% |
| 5-Year ReturnCumulative with dividends | -20.0% | -17.1% |
| 10-Year ReturnCumulative with dividends | +196.4% | -18.4% |
| CAGR (3Y)Annualised 3-year return | -4.1% | +22.1% |
Risk & Volatility
Evenly matched — FSV and CWK each lead in 1 of 2 comparable metrics.
Risk & Volatility
FSV is the less volatile stock with a 0.64 beta — it tends to amplify market swings less than CWK's 1.90 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CWK currently trades 83.5% from its 52-week high vs FSV's 59.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.64x | 1.90x |
| 52-Week HighHighest price in past year | $209.66 | $17.40 |
| 52-Week LowLowest price in past year | $124.37 | $9.43 |
| % of 52W HighCurrent price vs 52-week peak | +59.9% | +83.5% |
| RSI (14)Momentum oscillator 0–100 | 26.1 | 51.2 |
| Avg Volume (50D)Average daily shares traded | 181K | 1.5M |
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates FSV as "Buy" and CWK as "Hold". Consensus price targets imply 61.5% upside for FSV (target: $203) vs 29.4% for CWK (target: $19). FSV is the only dividend payer here at 0.85% yield — a key consideration for income-focused portfolios.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $203.00 | $18.80 |
| # AnalystsCovering analysts | 9 | 16 |
| Dividend YieldAnnual dividend ÷ price | +0.8% | — |
| Dividend StreakConsecutive years of raises | 10 | — |
| Dividend / ShareAnnual DPS | $1.07 | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.3% |
FSV leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). CWK leads in 2 (Valuation Metrics, Total Returns). 1 tied.
FSV vs CWK: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is FSV or CWK a better buy right now?
For growth investors, Cushman & Wakefield plc (CWK) is the stronger pick with 8.
9% revenue growth year-over-year, versus 5. 8% for FirstService Corporation (FSV). Cushman & Wakefield plc (CWK) offers the better valuation at 38. 2x trailing P/E (10. 1x forward), making it the more compelling value choice. Analysts rate FirstService Corporation (FSV) a "Buy" — based on 9 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — FSV or CWK?
On trailing P/E, Cushman & Wakefield plc (CWK) is the cheapest at 38.
2x versus FirstService Corporation at 39. 8x. On forward P/E, Cushman & Wakefield plc is actually cheaper at 10. 1x.
03Which is the better long-term investment — FSV or CWK?
Over the past 5 years, Cushman & Wakefield plc (CWK) delivered a total return of -17.
1%, compared to -20. 0% for FirstService Corporation (FSV). Over 10 years, the gap is even starker: FSV returned +196. 4% versus CWK's -18. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — FSV or CWK?
By beta (market sensitivity over 5 years), FirstService Corporation (FSV) is the lower-risk stock at 0.
64β versus Cushman & Wakefield plc's 1. 90β — meaning CWK is approximately 199% more volatile than FSV relative to the S&P 500. On balance sheet safety, FirstService Corporation (FSV) carries a lower debt/equity ratio of 87% versus 166% for Cushman & Wakefield plc — giving it more financial flexibility in a downturn.
05Which is growing faster — FSV or CWK?
By revenue growth (latest reported year), Cushman & Wakefield plc (CWK) is pulling ahead at 8.
9% versus 5. 8% for FirstService Corporation (FSV). On earnings-per-share growth, the picture is similar: FirstService Corporation grew EPS 6. 4% year-over-year, compared to -32. 1% for Cushman & Wakefield plc. Over a 3-year CAGR, FSV leads at 13. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — FSV or CWK?
FirstService Corporation (FSV) is the more profitable company, earning 2.
6% net margin versus 0. 9% for Cushman & Wakefield plc — meaning it keeps 2. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FSV leads at 6. 1% versus 4. 5% for CWK. At the gross margin level — before operating expenses — FSV leads at 31. 8%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is FSV or CWK more undervalued right now?
On forward earnings alone, Cushman & Wakefield plc (CWK) trades at 10.
1x forward P/E versus 20. 5x for FirstService Corporation — 10. 4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FSV: 61. 5% to $203. 00.
08Which pays a better dividend — FSV or CWK?
In this comparison, FSV (0.
8% yield) pays a dividend. CWK does not pay a meaningful dividend and should not be held primarily for income.
09Is FSV or CWK better for a retirement portfolio?
For long-horizon retirement investors, FirstService Corporation (FSV) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
64), 0. 8% yield, +196. 4% 10Y return). Cushman & Wakefield plc (CWK) carries a higher beta of 1. 90 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (FSV: +196. 4%, CWK: -18. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between FSV and CWK?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
FSV pays a dividend while CWK does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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