FirstService Corporation (FSV) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
FirstService Corporation (FSV) stock price & volume — 10-year historical chart
FirstService Corporation (FSV) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
FirstService Corporation (FSV) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 23, 2026 | $0.95vs $0.90+5.6% | $1.3Bvs $1.3B+0.7% |
| Q1 2026 | Feb 4, 2026 | $1.37vs $1.32+3.8% | $1.4Bvs $1.4B+0.5% |
| Q4 2025 | Oct 23, 2025 | $1.76vs $1.75+0.6% | $1.4Bvs $1.4B+6.4% |
| Q3 2025 | Jul 24, 2025 | $1.71vs $1.45+17.9% | $1.4Bvs $1.5B-2.2% |
FirstService Corporation (FSV) competitors in Property and facilities management services — business model, growth, and fundamentals comparison
FirstService Corporation (FSV) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
FirstService Corporation (FSV) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.71B | 1.93B | 2.41B | 2.77B | 3.25B | 3.75B | 4.33B | 5.22B | 5.52B |
| Revenue Growth % | 15.01% | 13.25% | 24.64% | 15.16% | 17.19% | 15.29% | 15.72% | 20.36% | 5.79% |
| Property Operating Expenses | 1.19B | 1.32B | 1.63B | 1.87B | 2.2B | 2.57B | 2.95B | 3.5B | 3.76B |
| 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 Expenses | 400.29M | 479.15M | 947.73M | 731.21M | 844.59M | 961.09M | 1.14B | 1.38B | 1.42B |
| G&A Expenses | 358.24M | 426.38M | 546.26M | 628.52M | 733.6M | 846.43M | 993.2M | 1.23B | 642.67M |
| EBITDA | 1.78B | 1.84B | -94.86M | 267.79M | 300.61M | 329.17M | 372.83M | 502.78M | 521.49M |
| EBITDA Margin % | 104.47% | 95.02% | -3.94% | 9.66% | 9.25% | 8.79% | 8.6% | 9.64% | 9.45% |
| Depreciation & Amortization | 1.67B | 1.71B | 79.56M | 98.38M | 98.97M | 110.14M | 127.93M | 165.27M | 185.83M |
| 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 Expense | 9.87M | 12.62M | 32.08M | 24.32M | 16.04M | 25.19M | 47.36M | 82.85M | 73.96M |
| Interest Coverage | 10.79x | 10.13x | -5.25x | 6.98x | 14.03x | 8.70x | 5.29x | 4.11x | 4.62x |
| 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 Tax | 22.61M | 24.92M | 27.15M | 35.87M | 52.88M | 48.97M | 56.32M | 70.12M | 76.05M |
| 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 Share | 47.24 | 48.49 | -4.50 | 4.30 | 5.27 | 5.20 | 5.10 | 6.62 | 7.23 |
| 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) | 1.43 | 1.83 | -5.95 | 2.04 | 3.08 | 2.74 | 2.29 | 2.98 | 3.17 |
| Diluted Shares Outstanding | 36.56M | 36.57M | 38.23M | 43.18M | 44.4M | 44.49M | 44.79M | 45.28M | 45.83M |
FirstService Corporation (FSV) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 837.73M | 1.01B | 1.95B | 2.2B | 2.51B | 2.77B | 3.63B | 4.19B | 4.28B |
| Asset Growth % | 8.66% | 20.26% | 93.96% | 12.41% | 14.23% | 10.58% | 30.68% | 15.7% | 1.93% |
| Real Estate & Other Assets | 4.92M | 10.35M | 10.41M | 14.97M | 21.1M | 36.85M | 32.67M | 28.01M | 435.24M |
| PP&E (Net) | 85.06M | 98.1M | 264.44M | 279.75M | 297.8M | 372.56M | 422.49M | 494.51M | 558.27M |
| Investment Securities | 0 | -1000K | -1000K | -1000K | -1000K | 0 | 0 | 0 | 0 |
| Total Current Assets | 321.32M | 415.07M | 668.14M | 819.32M | 964.66M | 1.11B | 1.36B | 1.56B | 1.1B |
| Cash & Equivalents | 57.19M | 66.34M | 121.2M | 184.29M | 165.66M | 136.22M | 187.62M | 227.6M | 179.76M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 14.11M | 22.84M | 17.24M | 32.04M | 35.45M | 73.48M | 76.15M | 95.18M | 0 |
| Intangible Assets | 133.84M | 148.8M | 366.22M | 378.76M | 382.11M | 368.45M | 628.01M | 715.48M | 2.19B |
| Total Liabilities | 634.5M | 771.25M | 1.35B | 1.34B | 1.49B | 1.63B | 2.27B | 2.56B | 2.42B |
| Total Debt | 269.63M | 334.52M | 908.49M | 753.71M | 823.19M | 952.16M | 1.42B | 1.57B | 1.62B |
| Net Debt | 212.44M | 268.18M | 787.29M | 569.42M | 657.52M | 815.95M | 1.23B | 1.34B | 1.44B |
| Long-Term Debt | 266.87M | 330.61M | 761.08M | 533.13M | 595.37M | 698.8M | 1.14B | 1.26B | 1.31B |
| Short-Term Borrowings | 2.75M | 3.92M | 5.54M | 56.48M | 57.44M | 35.66M | 37.13M | 41.57M | 13.65M |
| Capital Lease Obligations | 0 | 0 | 141.87M | 164.11M | 170.38M | 217.7M | 234.82M | 267.54M | 301.26M |
| Total Current Liabilities | 204.03M | 226.95M | 358.21M | 543.75M | 618.47M | 636.99M | 770.77M | 850.77M | 880.54M |
| Accounts Payable | 41.1M | 41.71M | 76.23M | 98.5M | 100.13M | 115.99M | 143.35M | 174.07M | 547.07M |
| Deferred Revenue | 35.83M | 38.11M | 75.55M | 92.86M | 121.91M | 131.94M | 185.74M | 197.63M | 0 |
| Other Liabilities | 163.6M | 193.66M | 53.56M | 82.15M | 96.84M | 60.31M | 94.56M | 127.27M | -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 Equity | 203.23M | 236.23M | 425.89M | 660.4M | 799.72M | 907.47M | 1.02B | 1.19B | 1.38B |
| Minority Interest | 117.71M | 151.59M | 174.66M | 193.03M | 219.13M | 233.43M | 332.96M | 449.34M | 485.31M |
| Common Stock | 143.77M | 148.71M | 605.43M | 770.03M | 797.43M | 813.03M | 855.82M | 929.91M | 1B |
| Additional Paid-in Capital | 41.46M | 45.1M | 50.79M | 59.3M | 68.25M | 83.01M | 95.22M | 104.79M | 117.36M |
| Retained Earnings | 192.29M | 45.54M | -229.87M | -171.09M | -67.92M | 17.35M | 77.48M | 165.47M | 259.92M |
| Preferred Stock | 7.54M | 45.54M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 / Assets | 32.19% | 33.2% | 46.49% | 34.31% | 32.81% | 34.32% | 39.08% | 37.34% | 37.98% |
| Debt / Equity | 0.84x | 0.86x | 1.51x | 0.88x | 0.81x | 0.83x | 1.04x | 0.96x | 0.87x |
| Net Debt / EBITDA | 0.12x | 0.15x | - | 2.13x | 2.19x | 2.48x | 3.30x | 2.66x | 2.77x |
| Book Value per Share | 8.78 | 10.60 | 15.71 | 19.76 | 22.95 | 25.64 | 30.30 | 36.15 | 40.63 |
FirstService Corporation (FSV) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 115.64M | 99.46M | 107.81M | 291.76M | 167.27M | 105.89M | 280.36M | 285.67M | 453.75M |
| 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 Income | 76.67M | 90.28M | -227.63M | 109.59M | 156.13M | 145.01M | 102.23M | 187.77M | 147.59M |
| Depreciation & Amortization | 42.05M | 52.77M | 79.56M | 98.38M | 98.97M | 110.14M | 127.93M | 165.27M | 188.45M |
| Stock-Based Compensation | 4.13M | 5.77M | 0 | 11.63M | 15.76M | 18.96M | 21.39M | 25.31M | 0 |
| Other Non-Cash Items | 5.66M | 5.84M | 252.8M | 679K | -22.85M | -594K | 53.59M | -40.77M | 62.43M |
| Working Capital Changes | -7.79M | -51.42M | 12.07M | 89.54M | -78.12M | -175.06M | -5.73M | -37.92M | 55.28M |
| 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 Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sale of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -88K | -6.16M | -1.5M | -4.29M | -675K | -31.2M | -6.41M | 1.34M | -10.51M |
| Cash from Financing | -26.33M | 20.44M | 561.14M | -75.2M | 24.43M | 18.78M | 413.94M | 74.41M | -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) | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K |
| Share Repurchases | -17.09M | -9M | 0 | 0 | -21.39M | -11.81M | 0 | 0 | 0 |
| 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 Effect | 414K | -754K | 462K | 340K | -47K | 1.2M | -447K | 429K | -98.2K |
| Cash at Beginning | 43.38M | 66.89M | 79.84M | 134.29M | 208.94M | 194.27M | 159.35M | 206.88M | 243.54M |
| Cash at End | 57.19M | 79.84M | 134.29M | 208.94M | 194.27M | 159.35M | 206.88M | 243.69M | 179.76M |
| 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% |
FirstService Corporation (FSV) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FFO per Share | 38.75 | 47.24 | 48.49 | -4.5 | 4.3 | 5.27 | 5.2 | 5.1 | 6.62 | 7.23 |
| FFO Payout Ratio | 1.1% | 0.99% | 1.06% | -12.81% | 14.79% | 13.33% | 15.09% | 17.11% | 14.63% | 14.75% |
| NOI Margin | 29.19% | 30.26% | 31.65% | 32.12% | 32.48% | 32.2% | 31.5% | 32.01% | 32.93% | 31.79% |
| Net Debt / EBITDA | 0.14x | 0.12x | 0.15x | - | 2.13x | 2.19x | 2.48x | 3.30x | 2.66x | 2.77x |
| Debt / Assets | 32.54% | 32.19% | 33.2% | 46.49% | 34.31% | 32.81% | 34.32% | 39.08% | 37.34% | 37.98% |
| Interest Coverage | 9.92x | 10.79x | 10.13x | -5.25x | 6.98x | 14.03x | 8.70x | 5.29x | 4.11x | 4.62x |
| Book Value / Share | 7.79 | 8.78 | 10.6 | 15.71 | 19.76 | 22.95 | 25.64 | 30.3 | 36.15 | 40.63 |
| Revenue Growth | 17.31% | 15.01% | 13.25% | 24.64% | 15.16% | 17.19% | 15.29% | 15.72% | 20.36% | 5.79% |
FirstService Corporation (FSV) stock FAQ — growth, dividends, profitability & financials explained
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).
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.
FirstService Corporation (FSV) generated Funds From Operations (FFO) of $331.5M in the trailing twelve months. FFO is the primary profitability metric for REITs.
FirstService Corporation (FSV) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates