FirstService Corporation (FSV) Financial Ratios
17 years of historical data (2009–2025) · Real Estate · Real Estate - Services
EV/EBITDA
↓
14.92
↓-31% vs avg
5yr avg: 21.69
30Y Low1.3·High31.2
P/FCF
↓
19.57
↓-74% vs avg
5yr avg: 76.18
30Y Low21.6·High192.8
P/B Ratio
↓
3.39
↓-38% vs avg
5yr avg: 5.51
30Y Low3.8·High8.6
ROE
↓
8.3%
-18% vs avg
5yr avg: 10.2%
30Y Low-51%·High20%
Debt/EBITDA
↑
3.11
↓-1% vs avg
5yr avg: 3.13
30Y Low0.2·High3.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FSV Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
FirstService Corporation trades at 43.6x earnings, 25% below its 5-year average of 58.4x, sitting at the 10th percentile of its historical range. Compared to the Real Estate sector median P/E of 24.1x, the stock trades at a premium of 81%. On a free-cash-flow basis, the stock trades at 19.6x P/FCF, 74% below the 5-year average of 76.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.3B | $7.1B | $8.2B | $7.3B | $5.5B | $8.7B | $5.9B | $3.6B | $2.5B | $2.6B | $1.7B |
| Enterprise Value | $7.8B | $8.6B | $9.5B | $8.5B | $6.3B | $9.4B | $6.5B | $4.3B | $2.8B | $2.8B | $1.9B |
| P/E Ratio → | 43.62 | 49.22 | 60.95 | 72.36 | 45.06 | 64.42 | 67.70 | — | 38.04 | 49.59 | 51.61 |
| P/S Ratio | 1.15 | 1.29 | 1.57 | 1.68 | 1.46 | 2.68 | 2.13 | 1.48 | 1.30 | 1.50 | 1.16 |
| P/B Ratio | 3.39 | 3.83 | 5.01 | 5.35 | 4.78 | 8.56 | 6.92 | 5.92 | 6.46 | 7.96 | 6.09 |
| P/FCF | 19.57 | 22.01 | 47.41 | 38.70 | 192.79 | 79.98 | 23.40 | 58.13 | 42.55 | 32.20 | 21.61 |
| P/OCF | 13.97 | 15.71 | 28.69 | 25.90 | 51.49 | 52.15 | 20.24 | 32.99 | 25.18 | 22.11 | 15.84 |
P/E links to full P/E history page with 30-year chart
FSV EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
FirstService Corporation's enterprise value stands at 14.9x EBITDA, 31% below its 5-year average of 21.7x. The Real Estate sector median is 17.0x, placing the stock at a 12% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.55 | 1.83 | 1.96 | 1.67 | 2.89 | 2.34 | 1.80 | 1.44 | 1.62 | 1.30 |
| EV / EBITDA | 14.92 | 16.44 | 18.96 | 22.77 | 19.04 | 31.21 | 24.18 | — | 1.51 | 1.55 | 1.32 |
| EV / EBIT | 23.18 | 25.10 | 27.98 | 33.87 | 28.60 | 41.69 | 38.14 | — | 21.69 | 26.00 | 21.31 |
| EV / FCF | — | 26.47 | 55.16 | 45.25 | 221.63 | 86.01 | 25.66 | 71.00 | 47.10 | 34.88 | 24.21 |
FSV Profitability
Margins and return-on-capital ratios measuring operating efficiency
FirstService Corporation earns an operating margin of 6.1%, below the Real Estate sector average of 24.8%. ROE of 8.3% is modest. ROIC of 8.0% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.8% | 31.8% | 32.9% | 32.0% | 31.5% | 32.2% | 32.5% | 32.1% | 31.6% | 30.3% | 29.2% |
| Operating Margin | 6.1% | 6.1% | 6.5% | 5.6% | 5.8% | 6.2% | 6.1% | -7.2% | 6.6% | 6.3% | 6.1% |
| Net Profit Margin | 2.6% | 2.6% | 2.6% | 2.3% | 3.2% | 4.2% | 3.1% | -10.5% | 3.4% | 3.1% | 2.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.3% | 8.3% | 9.0% | 8.0% | 11.2% | 14.4% | 12.0% | -50.9% | 18.6% | 17.6% | 12.7% |
| ROA | 3.4% | 3.4% | 3.4% | 3.1% | 4.6% | 5.7% | 4.2% | -17.0% | 7.1% | 6.6% | 4.9% |
| ROIC | 8.0% | 8.0% | 9.1% | 8.1% | 9.0% | 9.8% | 9.0% | -12.8% | 16.1% | 15.8% | 15.2% |
| ROCE | 10.0% | 10.0% | 10.9% | 9.8% | 10.9% | 11.4% | 10.4% | -14.7% | 18.0% | 17.6% | 17.1% |
FSV Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
FirstService Corporation carries a Debt/EBITDA ratio of 3.1x, which is moderately leveraged (61% below the sector average of 7.9x). Net debt stands at $1.4B ($1.6B total debt minus $180M cash). Interest coverage of 4.6x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.87 | 0.87 | 0.96 | 1.04 | 0.83 | 0.81 | 0.88 | 1.51 | 0.86 | 0.84 | 0.89 |
| Debt / EBITDA | 3.11 | 3.11 | 3.12 | 3.80 | 2.89 | 2.74 | 2.81 | — | 0.18 | 0.15 | 0.17 |
| Net Debt / Equity | — | 0.78 | 0.82 | 0.91 | 0.72 | 0.65 | 0.67 | 1.31 | 0.69 | 0.66 | 0.73 |
| Net Debt / EBITDA | 2.77 | 2.77 | 2.66 | 3.30 | 2.48 | 2.19 | 2.13 | — | 0.15 | 0.12 | 0.14 |
| Debt / FCF | — | 4.46 | 7.74 | 6.55 | 28.85 | 6.03 | 2.26 | 12.87 | 4.56 | 2.68 | 2.60 |
| Interest Coverage | 4.62 | 4.62 | 4.11 | 5.29 | 8.70 | 14.03 | 6.98 | -5.25 | 10.13 | 10.79 | 9.92 |
FSV Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.25x means FirstService Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.77x to 1.25x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.25 | 1.25 | 1.83 | 1.77 | 1.74 | 1.56 | 1.51 | 1.87 | 1.83 | 1.57 | 1.66 |
| Quick Ratio | 1.25 | 1.25 | 1.50 | 1.45 | 1.36 | 1.30 | 1.25 | 1.60 | 1.62 | 1.39 | 1.50 |
| Cash Ratio | 0.20 | 0.20 | 0.27 | 0.24 | 0.21 | 0.27 | 0.34 | 0.34 | 0.29 | 0.28 | 0.24 |
| Asset Turnover | — | 1.29 | 1.24 | 1.20 | 1.35 | 1.29 | 1.26 | 1.23 | 1.92 | 2.04 | 1.92 |
| Inventory Turnover | — | — | 12.51 | 11.97 | 10.59 | 13.65 | 13.18 | 17.29 | 27.38 | 31.34 | 35.34 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
FSV Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
FirstService Corporation returns 0.8% to shareholders annually primarily through dividends. The payout ratio of 33.6% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 2.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.8% | 0.7% | 0.5% | 0.5% | 0.6% | 0.4% | 0.5% | 0.6% | 0.7% | 0.7% | 0.9% |
| Payout Ratio | 33.6% | 33.6% | 32.6% | 38.9% | 28.8% | 23.1% | 31.5% | — | 28.5% | 32.3% | 46.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.3% | 2.0% | 1.6% | 1.4% | 2.2% | 1.6% | 1.5% | — | 2.6% | 2.0% | 1.9% |
| FCF Yield | 5.1% | 4.5% | 2.1% | 2.6% | 0.5% | 1.3% | 4.3% | 1.7% | 2.4% | 3.1% | 4.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.2% | 0.0% | 0.0% | 0.4% | 0.7% | 0.6% |
| Total Shareholder Yield | 0.8% | 0.7% | 0.5% | 0.5% | 0.9% | 0.6% | 0.5% | 0.6% | 1.1% | 1.3% | 1.4% |
| Shares Outstanding | — | $46M | $45M | $45M | $44M | $44M | $43M | $38M | $37M | $37M | $36M |
Peer Comparison
Compare FSV with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FSVYou | $6B | 43.6 | 14.9 | 19.6 | 31.8% | 6.1% | 8.3% | 8.0% | 3.1 |
 CBRE | $39B | 34.2 | 22.7 | 32.3 | 15.0% | 3.2% | 12.3% | 6.2% | 4.8 |
 JLL | $14B | 18.1 | 11.6 | 14.1 | 99.0% | 4.5% | 10.9% | 8.9% | 2.4 |
 CWK | $3B | 33.9 | 9.7 | 10.3 | 16.2% | 4.5% | 4.8% | 7.9% | 5.8 |
 MMI | $1B | -598.4 | — | 18.9 | 34.5% | -1.6% | -0.3% | -1.7% | — |
 NMRK | $3B | 21.9 | 10.6 | 19.2 | 94.6% | 7.0% | 7.7% | 5.2% | 4.8 |
 SERV | $466M | -4.3 | — | — | -580.2% | -4253.8% | -42.0% | -64.9% | — |
 ABM | $3B | 17.0 | 9.7 | 16.7 | 11.7% | 3.7% | 9.1% | 7.5% | 3.9 |
 CTAS | $69B | 38.8 | 25.0 | 39.2 | 50.0% | 22.8% | 40.3% | 25.8% | 0.9 |
 SCI | $10B | 19.1 | 11.4 | 18.2 | 26.5% | 22.6% | 32.7% | 11.3% | 3.9 |
 WSO | $16B | 32.7 | 22.2 | 30.4 | 28.0% | 9.6% | 15.8% | 16.6% | 0.7 |
| Real Estate Median | — | 24.1 | 17.0 | 15.4 | 49.3% | 24.8% | 3.7% | 2.7% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 17 years · Updated daily
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FSV — Frequently Asked Questions
Quick answers to the most common questions about buying FSV stock.
What is FirstService Corporation's P/E ratio?
FirstService Corporation's current P/E ratio is 43.6x. The historical average is 56.7x. This places it at the 10th percentile of its historical range.
What is FirstService Corporation's EV/EBITDA?
FirstService Corporation's current EV/EBITDA is 14.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.3x.
What is FirstService Corporation's ROE?
FirstService Corporation's return on equity (ROE) is 8.3%. The historical average is 4.7%.
Is FSV stock overvalued?
Based on historical data, FirstService Corporation is trading at a P/E of 43.6x. This is at the 10th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is FirstService Corporation's dividend yield?
FirstService Corporation's current dividend yield is 0.77% with a payout ratio of 33.6%.
What are FirstService Corporation's profit margins?
FirstService Corporation has 31.8% gross margin and 6.1% operating margin.
How much debt does FirstService Corporation have?
FirstService Corporation's Debt/EBITDA ratio is 3.1x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.