(FSV) FirstService - Overview
Sector: Real Estate | Industry: Real Estate Services | Exchange: NASDAQ (USA) | Market Cap: 6.054m USD | Total Return: -20.4% in 12m
Avg Turnover: 28.2M
EPS Trend: 53.8%
Qual. Beats: 0
Rev. Trend: 97.6%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
FirstService Corporation (FSV) is a North American provider of residential property management and essential property services. Headquartered in Toronto, the company operates through two primary segments: FirstService Residential and FirstService Brands. The Residential segment manages large-scale homeowner associations and condominiums, while the Brands segment oversees a portfolio of franchise and company-owned service providers such as California Closets and Paul Davis Restoration.
The business model relies heavily on recurring revenue streams from long-term management contracts and a diversified franchise network. In the property management sector, high switching costs for community associations often lead to stable retention rates. Additionally, the company’s restoration and fire protection services provide a defensive hedge, as these essential services are often mandated by safety regulations or insurance requirements regardless of economic cycles.
Investors can evaluate the company’s valuation and historical growth trends further on ValueRay. The firm continues to expand its market share through a combination of organic growth and strategic acquisitions within the fragmented property services industry.
- Acquisition pace and integration of regional property restoration and roofing service providers
- Recurring management fees from expanding homeowner association and condominium portfolios
- High interest rates impacting residential real estate transaction and home inspection volumes
- Labor cost inflation across specialized maintenance and property management staffing sectors
- Climate-related disaster frequency driving demand for emergency restoration and roofing services
| Net Income: 162.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA 3.46 > 1.0 |
| NWC/Revenue: 11.51% < 20% (prev 14.24%; Δ -2.73% < -1%) |
| CFO/TA 0.12 > 3% & CFO 498.8m > Net Income 162.8m |
| Net Debt (1.46b) to EBITDA (546.3m): 2.68 < 3 |
| Current Ratio: 1.74 > 1.5 & < 3 |
| Outstanding Shares: last quarter (45.9m) vs 12m ago 0.64% < -2% |
| Gross Margin: 31.79% > 18% (prev 0.33%; Δ 3.15k% > 0.5%) |
| Asset Turnover: 131.0% > 50% (prev 125.4%; Δ 5.61% > 0%) |
| Interest Coverage Ratio: 5.09 > 6 (EBITDA TTM 546.3m / Interest Expense TTM 70.0m) |
| A: 0.15 (Total Current Assets 1.51b - Total Current Liabilities 866.6m) / Total Assets 4.29b |
| B: 0.06 (Retained Earnings 266.4m / Total Assets 4.29b) |
| C: 0.08 (EBIT TTM 356.5m / Avg Total Assets 4.26b) |
| D: 0.55 (Book Value of Equity 1.31b / Total Liabilities 2.39b) |
| Altman-Z'' = 2.32 = BBB |
| DSRI: 0.88 (Receivables 879.6m/946.4m, Revenue 5.59b/5.31b) |
| GMI: 1.04 (GM 31.79% / 33.11%) |
| AQI: 1.01 (AQ_t 0.52 / AQ_t-1 0.51) |
| SGI: 1.05 (Revenue 5.59b / 5.31b) |
| TATA: -0.08 (NI 162.8m - CFO 498.8m) / TA 4.29b) |
| Beneish M = -3.12 (Cap -4..+1) = AA |
As of May 29, 2026, the stock is trading at USD 138.72 with a total of 356,387 shares traded.
Over the past week, the price has changed by +5.39%,
over one month by -3.01%,
over three months by -11.77% and
over the past year by -20.35%.
FirstService has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy FSV.
- StrongBuy: 3
- Buy: 3
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 190 | 37% |
P/E Trailing = 37.0873
P/E Forward = 21.645
P/S = 1.0882
P/B = 4.2366
P/EG = 2.17
Revenue TTM = 5.59b USD
EBIT TTM = 356.5m USD
EBITDA TTM = 546.3m USD
Long Term Debt = 1.04b USD (from longTermDebt, last quarter)
Short Term Debt = 72.8m USD (from shortTermDebt, last quarter)
Debt = 1.68b USD (from shortLongTermDebtTotal, last quarter) + Leases 310.6m
Net Debt = 1.46b USD (calculated: Debt 1.68b - CCE 214.0m)
Enterprise Value = 7.52b USD (6.05b + Debt 1.68b - CCE 214.0m)
Interest Coverage Ratio = 5.09 (Ebit TTM 356.5m / Interest Expense TTM 70.0m)
EV/FCF = 20.29x (Enterprise Value 7.52b / FCF TTM 370.6m)
FCF Yield = 4.93% (FCF TTM 370.6m / Enterprise Value 7.52b)
FCF Margin = 6.63% (FCF TTM 370.6m / Revenue TTM 5.59b)
Net Margin = 2.92% (Net Income TTM 162.8m / Revenue TTM 5.59b)
Gross Margin = 31.79% ((Revenue TTM 5.59b - Cost of Revenue TTM 3.81b) / Revenue TTM)
Gross Margin QoQ = 32.70% (prev 26.87%)
Tobins Q-Ratio = 1.75 (Enterprise Value 7.52b / Total Assets 4.29b)
Interest Expense / Debt = 4.17% (Interest Expense 70.0m / Debt 1.68b)
Taxrate = 27.02% (8.74m / 32.4m)
NOPAT = 260.2m (EBIT 356.5m * (1 - 27.02%))
Current Ratio = 1.74 (Total Current Assets 1.51b / Total Current Liabilities 866.6m)
Debt / Equity = 1.17 (Debt 1.68b / totalStockholderEquity, last quarter 1.43b)
Debt / EBITDA = 2.68 (Net Debt 1.46b / EBITDA 546.3m)
Debt / FCF = 3.95 (Net Debt 1.46b / FCF TTM 370.6m)
Total Stockholder Equity = 1.35b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.82% (Net Income 162.8m / Total Assets 4.29b)
RoE = 12.07% (Net Income TTM 162.8m / Total Stockholder Equity 1.35b)
RoCE = 14.91% (EBIT 356.5m / Capital Employed (Equity 1.35b + L.T.Debt 1.04b))
RoIC = 7.50% (NOPAT 260.2m / Invested Capital 3.47b)
WACC = 6.23% (E(6.05b)/V(7.73b) * Re(7.11%) + D(1.68b)/V(7.73b) * Rd(4.17%) * (1-Tc(0.27)))
Discount Rate = 7.11% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 82.22 | Cagr: 1.01%
[DCF] Terminal Value 77.97% ; FCFF base≈310.0m ; Y1≈355.4m ; Y5≈523.0m
[DCF] Fair Price = 139.3 (EV 7.87b - Net Debt 1.46b = Equity 6.41b / Shares 46.0m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 53.84 | EPS CAGR: 4.47% | SUE: 0.45 | # QB: 0
Revenue Correlation: 97.55 | Revenue CAGR: 12.95% | SUE: 0.38 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.70 | Chg30d=-3.17% | Revisions=-33% | Analysts=9
EPS next Quarter (2026-09-30): EPS=1.91 | Chg30d=-1.26% | Revisions=-25% | Analysts=9
EPS current Year (2026-12-31): EPS=6.13 | Chg30d=-0.19% | Revisions=-20% | GrowthEPS=+6.6% | GrowthRev=+5.8%
EPS next Year (2027-12-31): EPS=6.74 | Chg30d=-0.77% | Revisions=-45% | GrowthEPS=+10.0% | GrowthRev=+6.4%
[Analyst] Revisions Ratio: -45%