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FSV logoFirstService Corporation(FSV)Earnings, Financials & Key Ratios

FSV•NASDAQ•REIT / Real Estate
$125.66
$5.78B mkt cap·39.8× P/E·Price updated May 6, 2026
SectorReal EstateIndustryReal Estate ServicesSub-IndustryProperty and facilities management services
AboutFirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. The company operates in two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment offers property management services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments. This segment also provides a range of ancillary services, including on-site staffing for building engineering and maintenance, full-service swimming pool and amenity management, and security and concierge/front desk; and financial services comprising cash management, other banking transaction-related, and specialized property insurance brokerage. In addition, this segment offers energy management solutions and advisory services, and resale processing services. The FirstService Brands segment operates and provides essential property services to residential and commercial customers, through five franchise networks; and company-owned locations, including 20 California Closets, 12 Paul Davis Restoration, and 1 CertaPro Painters locations. It provides residential and commercial restoration, painting, and floor coverings design and installation services; custom-designed and installed closet, and home storage solutions; home inspection services; and fire protection and related services. This segment offers its services primarily under the Paul Davis Restoration, First Onsite Restoration, Century Fire Protection, CertaPro Painters, California Closets, Pillar to Post Home Inspectors, and Floor Coverings International brand names. FirstService Corporation was founded in 1989 and is headquartered in Toronto, Canada.Show more
  • Revenue$5.52B+5.8%
  • FFO$331M+10.6%
  • FFO/Share7.23+9.3%
  • FFO Payout14.75%+0.8%
  • FFO per Share7.23+9.3%
  • NOI Margin31.79%-3.5%
  • FFO Margin6.01%+4.6%
  • ROE8.32%-7.3%
  • ROA3.44%
  • Debt/Assets37.98%+1.7%
  • Net Debt/EBITDA2.77+4.0%
  • Book Value/Share40.63+12.4%
Technical→

FSV Key Insights

FirstService Corporation (FSV) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓FFO growing 10.6% TTM
  • ✓Sustainable FFO payout ratio of 14.7%
  • ✓10 consecutive years of dividend growth

✗Weaknesses

  • ✗Weak momentum: RS Rating 20 (bottom 20%)
  • ✗Low NOI margin of 31.8%
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

FSV Price & Volume

FirstService Corporation (FSV) stock price & volume — 10-year historical chart

Loading chart...

FSV Growth Metrics

FirstService Corporation (FSV) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years15.88%
5 Years14.76%
3 Years13.79%
TTM5.79%

Profit CAGR

10 Years21.14%
5 Years10.79%
3 Years6.35%
TTM8.39%

EPS CAGR

10 Years18.27%
5 Years9.36%
3 Years5.13%
TTM6.4%

Return on Capital

10 Years10.14%
5 Years10.58%
3 Years10.22%
Last Year9.96%

FSV Recent Earnings

FirstService Corporation (FSV) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
Apr 23, 2026
EPS
$0.95
Est $0.90
+5.6%
Revenue
$1.3B
Est $1.3B
+0.7%
Q1 2026
Feb 4, 2026
EPS
$1.37
Est $1.32
+3.8%
Revenue
$1.4B
Est $1.4B
+0.5%
Q4 2025
Oct 23, 2025
EPS
$1.76
Est $1.75
+0.6%
Revenue
$1.4B
Est $1.4B
+6.4%
Q3 2025
Jul 24, 2025
EPS
$1.71
Est $1.45
+17.9%
Revenue
$1.4B
Est $1.5B
-2.2%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 23, 2026
$0.95vs $0.90+5.6%
$1.3Bvs $1.3B+0.7%
Q1 2026Feb 4, 2026
$1.37vs $1.32+3.8%
$1.4Bvs $1.4B+0.5%
Q4 2025Oct 23, 2025
$1.76vs $1.75+0.6%
$1.4Bvs $1.4B+6.4%
Q3 2025Jul 24, 2025
$1.71vs $1.45+17.9%
$1.4Bvs $1.5B-2.2%
Based on last 12 quarters of dataView full earnings history →

FSV Peer Comparison

FirstService Corporation (FSV) competitors in Property and facilities management services — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
CBRE logoCBRECBRE Group, Inc.Direct Competitor41.79B142.5737.0313.37%3.11%14.27%2.85%1.04
JLL logoJLLJones Lang LaSalle IncorporatedDirect Competitor14.76B318.1319.4011.45%3.35%12.14%6.63%0.44
CWK logoCWKCushman & Wakefield plcDirect Competitor3.4B14.5338.248.91%0.86%4.65%8.61%1.66
MMI logoMMIMarcus & Millichap, Inc.Direct Competitor1.09B28.67-585.108.49%-0.25%-0.31%5.39%0.13
NMRK logoNMRKNewmark Group, Inc.Direct Competitor3.01B16.3324.0121.86%3.83%7.85%4.73%1.14
SERV logoSERVServe Robotics Inc.Product Competitor563.49M9.14-5.6146.26%-38.24%-38.54%0.01
ABM logoABMABM Industries IncorporatedProduct Competitor2.39B40.7015.714.62%1.78%8.8%6.5%0.95
CTAS logoCTASCintas CorporationProduct Competitor68.2B169.2538.477.75%17.58%42.61%2.58%0.57

Compare FSV vs Peers

FirstService Corporation (FSV) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CBRE

Most directly comparable listed peer for FSV.

Scale Benchmark

vs HD

Larger-name benchmark to compare FSV against a more recognizable public peer.

Peer Set

Compare Top 5

vs CBRE, JLL, CWK, MMI

FSV Income Statement

FirstService Corporation (FSV) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue1.71B1.93B2.41B2.77B3.25B3.75B4.33B5.22B5.52B
Revenue Growth %15.01%13.25%24.64%15.16%17.19%15.29%15.72%20.36%5.79%
Property Operating Expenses1.19B1.32B1.63B1.87B2.2B2.57B2.95B3.5B3.76B
Net Operating Income (NOI)
516.08M▲ 0%
611.22M▲ 18.4%
773.31M▲ 26.5%
900.62M▲ 16.5%
1.05B▲ 16.2%
1.18B▲ 12.8%
1.39B▲ 17.6%
1.72B▲ 23.8%
1.75B▲ 2.1%
NOI Margin %30.26%31.65%32.12%32.48%32.2%31.5%32.01%32.93%31.79%
Operating Expenses400.29M479.15M947.73M731.21M844.59M961.09M1.14B1.38B1.42B
G&A Expenses358.24M426.38M546.26M628.52M733.6M846.43M993.2M1.23B642.67M
EBITDA1.78B1.84B-94.86M267.79M300.61M329.17M372.83M502.78M521.49M
EBITDA Margin %104.47%95.02%-3.94%9.66%9.25%8.79%8.6%9.64%9.45%
Depreciation & Amortization1.67B1.71B79.56M98.38M98.97M110.14M127.93M165.27M185.83M
D&A / Revenue %98.16%88.41%3.3%3.55%3.05%2.94%2.95%3.17%3.37%
Operating Income
107.63M▲ 0%
127.57M▲ 18.5%
-174.42M▼ 236.7%
169.41M▲ 197.1%
201.64M▲ 19.0%
219.03M▲ 8.6%
244.89M▲ 11.8%
337.51M▲ 37.8%
335.67M▼ 0.5%
Operating Margin %6.31%6.6%-7.25%6.11%6.21%5.85%5.65%6.47%6.08%
Interest Expense9.87M12.62M32.08M24.32M16.04M25.19M47.36M82.85M73.96M
Interest Coverage10.79x10.13x-5.25x6.98x14.03x8.70x5.29x4.11x4.62x
Non-Operating Income-1.52M-254K-6.01M-361K-23.4M-146K-5.81M-3.24M-5.87M
Pretax Income
99.28M▲ 0%
115.2M▲ 16.0%
-200.48M▼ 274.0%
145.46M▲ 172.6%
209M▲ 43.7%
193.98M▼ 7.2%
203.34M▲ 4.8%
257.9M▲ 26.8%
267.57M▲ 3.7%
Pretax Margin %5.82%5.96%-8.33%5.25%6.43%5.18%4.69%4.94%4.85%
Income Tax22.61M24.92M27.15M35.87M52.88M48.97M56.32M70.12M76.05M
Effective Tax Rate %22.77%21.63%-13.54%24.66%25.3%25.25%27.7%27.19%28.42%
Net Income
53.08M▲ 0%
65.86M▲ 24.1%
-251.61M▼ 482.0%
87.26M▲ 134.7%
135.21M▲ 55.0%
121.07M▼ 10.5%
100.39M▼ 17.1%
134.38M▲ 33.9%
145.65M▲ 8.4%
Net Margin %3.11%3.41%-10.45%3.15%4.16%3.23%2.32%2.58%2.64%
Net Income Growth %57.98%24.09%-482.01%134.68%54.95%-10.46%-17.08%33.85%8.39%
Funds From Operations (FFO)
1.73B▲ 0%
1.77B▲ 2.7%
-172.05M▼ 109.7%
185.64M▲ 207.9%
234.18M▲ 26.1%
231.21M▼ 1.3%
228.32M▼ 1.2%
299.64M▲ 31.2%
331.47M▲ 10.6%
FFO Margin %101.27%91.82%-7.15%6.7%7.21%6.17%5.27%5.74%6.01%
FFO Growth %22.56%2.69%-109.7%207.9%26.15%-1.27%-1.25%31.24%10.62%
FFO per Share47.2448.49-4.504.305.275.205.106.627.23
FFO Payout Ratio %0.99%1.06%-12.81%14.79%13.33%15.09%17.11%14.63%14.75%
EPS (Diluted)
1.41▲ 0%
1.80▲ 27.7%
-5.95▼ 430.6%
2.02▲ 133.9%
3.05▲ 51.0%
2.72▼ 10.8%
2.24▼ 17.6%
2.97▲ 32.6%
3.16▲ 6.4%
EPS Growth %53.26%27.66%-430.56%133.95%50.99%-10.82%-17.65%32.59%6.4%
EPS (Basic)1.431.83-5.952.043.082.742.292.983.17
Diluted Shares Outstanding36.56M36.57M38.23M43.18M44.4M44.49M44.79M45.28M45.83M

FSV Balance Sheet

FirstService Corporation (FSV) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets837.73M1.01B1.95B2.2B2.51B2.77B3.63B4.19B4.28B
Asset Growth %8.66%20.26%93.96%12.41%14.23%10.58%30.68%15.7%1.93%
Real Estate & Other Assets4.92M10.35M10.41M14.97M21.1M36.85M32.67M28.01M435.24M
PP&E (Net)85.06M98.1M264.44M279.75M297.8M372.56M422.49M494.51M558.27M
Investment Securities0-1000K-1000K-1000K-1000K0000
Total Current Assets321.32M415.07M668.14M819.32M964.66M1.11B1.36B1.56B1.1B
Cash & Equivalents57.19M66.34M121.2M184.29M165.66M136.22M187.62M227.6M179.76M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets14.11M22.84M17.24M32.04M35.45M73.48M76.15M95.18M0
Intangible Assets133.84M148.8M366.22M378.76M382.11M368.45M628.01M715.48M2.19B
Total Liabilities634.5M771.25M1.35B1.34B1.49B1.63B2.27B2.56B2.42B
Total Debt269.63M334.52M908.49M753.71M823.19M952.16M1.42B1.57B1.62B
Net Debt212.44M268.18M787.29M569.42M657.52M815.95M1.23B1.34B1.44B
Long-Term Debt266.87M330.61M761.08M533.13M595.37M698.8M1.14B1.26B1.31B
Short-Term Borrowings2.75M3.92M5.54M56.48M57.44M35.66M37.13M41.57M13.65M
Capital Lease Obligations00141.87M164.11M170.38M217.7M234.82M267.54M301.26M
Total Current Liabilities204.03M226.95M358.21M543.75M618.47M636.99M770.77M850.77M880.54M
Accounts Payable41.1M41.71M76.23M98.5M100.13M115.99M143.35M174.07M547.07M
Deferred Revenue35.83M38.11M75.55M92.86M121.91M131.94M185.74M197.63M0
Other Liabilities163.6M193.66M53.56M82.15M96.84M60.31M94.56M127.27M-114.82M
Total Equity
320.94M▲ 0%
387.81M▲ 20.8%
600.55M▲ 54.9%
853.43M▲ 42.1%
1.02B▲ 19.4%
1.14B▲ 12.0%
1.36B▲ 19.0%
1.64B▲ 20.6%
1.86B▲ 13.8%
Equity Growth %13.25%20.84%54.86%42.11%19.38%11.98%18.95%20.63%13.75%
Shareholders Equity203.23M236.23M425.89M660.4M799.72M907.47M1.02B1.19B1.38B
Minority Interest117.71M151.59M174.66M193.03M219.13M233.43M332.96M449.34M485.31M
Common Stock143.77M148.71M605.43M770.03M797.43M813.03M855.82M929.91M1B
Additional Paid-in Capital41.46M45.1M50.79M59.3M68.25M83.01M95.22M104.79M117.36M
Retained Earnings192.29M45.54M-229.87M-171.09M-67.92M17.35M77.48M165.47M259.92M
Preferred Stock7.54M45.54M0000000
Return on Assets (ROA)6.6%7.14%-16.99%4.2%5.75%4.58%3.14%3.44%3.44%
Return on Equity (ROE)17.57%18.59%-50.91%12%14.44%11.21%8.04%8.98%8.32%
Debt / Assets32.19%33.2%46.49%34.31%32.81%34.32%39.08%37.34%37.98%
Debt / Equity0.84x0.86x1.51x0.88x0.81x0.83x1.04x0.96x0.87x
Net Debt / EBITDA0.12x0.15x-2.13x2.19x2.48x3.30x2.66x2.77x
Book Value per Share8.7810.6015.7119.7622.9525.6430.3036.1540.63

FSV Cash Flow Statement

FirstService Corporation (FSV) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations115.64M99.46M107.81M291.76M167.27M105.89M280.36M285.67M453.75M
Operating CF Growth %6.08%-13.99%8.39%170.63%-42.67%-36.69%164.76%1.9%58.83%
Operating CF / Revenue %6.78%5.15%4.48%10.52%5.15%2.83%6.47%5.48%8.22%
Net Income76.67M90.28M-227.63M109.59M156.13M145.01M102.23M187.77M147.59M
Depreciation & Amortization42.05M52.77M79.56M98.38M98.97M110.14M127.93M165.27M188.45M
Stock-Based Compensation4.13M5.77M011.63M15.76M18.96M21.39M25.31M0
Other Non-Cash Items5.66M5.84M252.8M679K-22.85M-594K53.59M-40.77M62.43M
Working Capital Changes-7.79M-51.42M12.07M89.54M-78.12M-175.06M-5.73M-37.92M55.28M
Cash from Investing-75.92M-106.2M-614.97M-142.26M-206.32M-160.8M-646.33M-323.7M-283.92M
Acquisitions (Net)-39.57M-59.44M-566.83M-98.56M-147.44M-51.99M-547.18M-212.25M-143.47M
Purchase of Investments000000000
Sale of Investments000000000
Other Investing-88K-6.16M-1.5M-4.29M-675K-31.2M-6.41M1.34M-10.51M
Cash from Financing-26.33M20.44M561.14M-75.2M24.43M18.78M413.94M74.41M-233.51M
Dividends Paid-17.14M-18.78M-22.04M-27.45M-31.21M-34.88M-39.05M-43.83M-48.89M
Common Dividends-17.14M-18.78M-22.04M-27.45M-31.21M-34.88M-39.05M-43.83M-48.89M
Debt Issuance (Net)1000K1000K1000K-1000K1000K1000K1000K1000K-1000K
Share Repurchases-17.09M-9M00-21.39M-11.81M000
Other Financing-9.52M-14.07M-38.41M-18.47M-27.81M-38.3M-28.08M-40.89M-33.01M
Net Change in Cash
13.8M▲ 0%
12.95M▼ 6.2%
54.45M▲ 320.4%
74.65M▲ 37.1%
-14.67M▼ 119.6%
-34.92M▼ 138.1%
47.53M▲ 236.1%
36.81M▼ 22.6%
-63.78M▼ 273.3%
Exchange Rate Effect414K-754K462K340K-47K1.2M-447K429K-98.2K
Cash at Beginning43.38M66.89M79.84M134.29M208.94M194.27M159.35M206.88M243.54M
Cash at End57.19M79.84M134.29M208.94M194.27M159.35M206.88M243.69M179.76M
Free Cash Flow
79.38M▲ 0%
58.86M▼ 25.8%
61.18M▲ 3.9%
252.35M▲ 312.5%
109.06M▼ 56.8%
28.28M▼ 74.1%
187.63M▲ 563.4%
172.88M▼ 7.9%
323.81M▲ 87.3%
FCF Growth %-0.63%-25.84%3.93%312.47%-56.78%-74.07%563.36%-7.86%87.31%
FCF / Revenue %4.65%3.05%2.54%9.1%3.36%0.76%4.33%3.31%5.87%

FSV Key Ratios

FirstService Corporation (FSV) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
FFO per Share38.7547.2448.49-4.54.35.275.25.16.627.23
FFO Payout Ratio1.1%0.99%1.06%-12.81%14.79%13.33%15.09%17.11%14.63%14.75%
NOI Margin29.19%30.26%31.65%32.12%32.48%32.2%31.5%32.01%32.93%31.79%
Net Debt / EBITDA0.14x0.12x0.15x-2.13x2.19x2.48x3.30x2.66x2.77x
Debt / Assets32.54%32.19%33.2%46.49%34.31%32.81%34.32%39.08%37.34%37.98%
Interest Coverage9.92x10.79x10.13x-5.25x6.98x14.03x8.70x5.29x4.11x4.62x
Book Value / Share7.798.7810.615.7119.7622.9525.6430.336.1540.63
Revenue Growth17.31%15.01%13.25%24.64%15.16%17.19%15.29%15.72%20.36%5.79%

FSV Frequently Asked Questions

FirstService Corporation (FSV) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

FirstService Corporation (FSV) reported $5.52B in revenue for fiscal year 2025. This represents a 224% increase from $1.70B in 2009.

FirstService Corporation (FSV) grew revenue by 5.8% over the past year. This is steady growth.

Yes, FirstService Corporation (FSV) is profitable, generating $145.6M in net income for fiscal year 2025 (2.6% net margin).

Dividend & Returns

Yes, FirstService Corporation (FSV) pays a dividend with a yield of 0.85%. This makes it attractive for income-focused investors.

FirstService Corporation (FSV) has a return on equity (ROE) of 8.3%. This is below average, suggesting room for improvement.

Industry Metrics

FirstService Corporation (FSV) generated Funds From Operations (FFO) of $331.5M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Explore More FSV

FirstService Corporation (FSV) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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