FIRSTSERVICE CORP (FSV.CA) Stock Fundamental Analysis
Canada - TSX:FSV - CA33767E2024 - Common Stock
259.96 CAD
+0.82 (+0.32%)
Taking everything into account, FSV scores 5 out of 10 in our fundamental rating. FSV was compared to 29 industry peers in the Real Estate Management & Development industry. Both the profitability and the financial health of FSV get a neutral evaluation. Nothing too spectacular is happening here. While showing a medium growth rate, FSV is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
FSV had positive earnings in the past year.
In the past year FSV had a positive cash flow from operations.
FSV had positive earnings in each of the past 5 years.
In the past 5 years FSV always reported a positive cash flow from operatings.
1.2 Ratios
FSV's Return On Assets of 3.25% is fine compared to the rest of the industry. FSV outperforms 65.52% of its industry peers.
Looking at the Return On Equity, with a value of 11.34%, FSV is in the better half of the industry, outperforming 79.31% of the companies in the same industry.
FSV has a Return On Invested Capital of 7.47%. This is amongst the best in the industry. FSV outperforms 82.76% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for FSV is below the industry average of 11.82%.
The 3 year average ROIC (7.12%) for FSV is below the current ROIC(7.47%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.25% | ||
| ROE | 11.34% | ||
| ROIC | 7.47% |
ROA(3y)3.45%
ROA(5y)3.94%
ROE(3y)11.49%
ROE(5y)12.92%
ROIC(3y)7.12%
ROIC(5y)7.44%
1.3 Margins
FSV has a Profit Margin of 2.61%. This is comparable to the rest of the industry: FSV outperforms 58.62% of its industry peers.
FSV's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 6.52%, FSV is doing worse than 68.97% of the companies in the same industry.
In the last couple of years the Operating Margin of FSV has remained more or less at the same level.
FSV's Gross Margin of 33.22% is on the low side compared to the rest of the industry. FSV is outperformed by 62.07% of its industry peers.
In the last couple of years the Gross Margin of FSV has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.52% | ||
| PM (TTM) | 2.61% | ||
| GM | 33.22% |
OM growth 3Y-1.98%
OM growth 5Y0.22%
PM growth 3Y-14.78%
PM growth 5YN/A
GM growth 3Y0.75%
GM growth 5Y0.5%
2. Health
2.1 Basic Checks
FSV has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
FSV has more shares outstanding than it did 1 year ago.
FSV has more shares outstanding than it did 5 years ago.
The debt/assets ratio for FSV has been reduced compared to a year ago.
2.2 Solvency
FSV has an Altman-Z score of 3.38. This indicates that FSV is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 3.38, FSV is in the better half of the industry, outperforming 75.86% of the companies in the same industry.
FSV has a debt to FCF ratio of 5.04. This is a neutral value as FSV would need 5.04 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 5.04, FSV belongs to the best of the industry, outperforming 82.76% of the companies in the same industry.
A Debt/Equity ratio of 0.98 indicates that FSV is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.98, FSV is in line with its industry, outperforming 44.83% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.98 | ||
| Debt/FCF | 5.04 | ||
| Altman-Z | 3.38 |
ROIC/WACC0.92
WACC8.08%
2.3 Liquidity
A Current Ratio of 1.74 indicates that FSV should not have too much problems paying its short term obligations.
The Current ratio of FSV (1.74) is better than 75.86% of its industry peers.
FSV has a Quick Ratio of 1.43. This is a normal value and indicates that FSV is financially healthy and should not expect problems in meeting its short term obligations.
FSV has a Quick ratio of 1.43. This is in the better half of the industry: FSV outperforms 65.52% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.74 | ||
| Quick Ratio | 1.43 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 27.56% over the past year.
Measured over the past years, FSV shows a quite strong growth in Earnings Per Share. The EPS has been growing by 10.76% on average per year.
Looking at the last year, FSV shows a quite strong growth in Revenue. The Revenue has grown by 16.68% in the last year.
The Revenue has been growing by 16.73% on average over the past years. This is quite good.
EPS 1Y (TTM)27.56%
EPS 3Y2.97%
EPS 5Y10.76%
EPS Q2Q%25.74%
Revenue 1Y (TTM)16.68%
Revenue growth 3Y17.1%
Revenue growth 5Y16.73%
Sales Q2Q%9.12%
3.2 Future
FSV is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 12.48% yearly.
The Revenue is expected to grow by 6.39% on average over the next years.
EPS Next Y18.78%
EPS Next 2Y13.49%
EPS Next 3Y12.48%
EPS Next 5YN/A
Revenue Next Year7.97%
Revenue Next 2Y7.58%
Revenue Next 3Y6.39%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 33.03, the valuation of FSV can be described as expensive.
FSV's Price/Earnings is on the same level as the industry average.
When comparing the Price/Earnings ratio of FSV to the average of the S&P500 Index (27.53), we can say FSV is valued inline with the index average.
The Price/Forward Earnings ratio is 28.74, which means the current valuation is very expensive for FSV.
Compared to the rest of the industry, the Price/Forward Earnings ratio of FSV indicates a somewhat cheap valuation: FSV is cheaper than 72.41% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of FSV to the average of the S&P500 Index (23.04), we can say FSV is valued slightly more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.03 | ||
| Fwd PE | 28.74 |
4.2 Price Multiples
75.86% of the companies in the same industry are more expensive than FSV, based on the Enterprise Value to EBITDA ratio.
FSV's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. FSV is cheaper than 62.07% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 34.25 | ||
| EV/EBITDA | 17.8 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
A more expensive valuation may be justified as FSV's earnings are expected to grow with 12.48% in the coming years.
PEG (NY)1.76
PEG (5Y)3.07
EPS Next 2Y13.49%
EPS Next 3Y12.48%
5. Dividend
5.1 Amount
With a yearly dividend of 0.55%, FSV is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 3.40, FSV has a dividend in line with its industry peers.
With a Dividend Yield of 0.55, FSV pays less dividend than the S&P500 average, which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.55% |
5.2 History
On average, the dividend of FSV grows each year by 11.41%, which is quite nice.
FSV has paid a dividend for at least 10 years, which is a reliable track record.
FSV has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)11.41%
Div Incr Years9
Div Non Decr Years9
5.3 Sustainability
FSV pays out 32.66% of its income as dividend. This is a sustainable payout ratio.
FSV's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP32.66%
EPS Next 2Y13.49%
EPS Next 3Y12.48%
TSX:FSV (10/15/2025, 7:00:00 PM)
259.96
+0.82 (+0.32%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)
Earnings (Next)
Inst Owners76.48%
Inst Owner ChangeN/A
Ins Owners9.37%
Ins Owner ChangeN/A
Market Cap11.85B
Analysts78.33
Price Target226.55 (-12.85%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.55% |
Yearly Dividend1.37
Dividend Growth(5Y)11.41%
DP32.66%
Div Incr Years9
Div Non Decr Years9
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)12.48%
Min EPS beat(2)10.08%
Max EPS beat(2)14.88%
EPS beat(4)3
Avg EPS beat(4)8.8%
Min EPS beat(4)-3.07%
Max EPS beat(4)14.88%
EPS beat(8)4
Avg EPS beat(8)2.95%
EPS beat(12)7
Avg EPS beat(12)2.95%
EPS beat(16)10
Avg EPS beat(16)4.67%
Revenue beat(2)1
Avg Revenue beat(2)-1.38%
Min Revenue beat(2)-2.81%
Max Revenue beat(2)0.05%
Revenue beat(4)3
Avg Revenue beat(4)1.24%
Min Revenue beat(4)-2.81%
Max Revenue beat(4)5.84%
Revenue beat(8)6
Avg Revenue beat(8)1.24%
Revenue beat(12)10
Avg Revenue beat(12)1.96%
Revenue beat(16)14
Avg Revenue beat(16)1.84%
PT rev (1m)0.23%
PT rev (3m)5.57%
EPS NQ rev (1m)0.07%
EPS NQ rev (3m)-3.8%
EPS NY rev (1m)0.09%
EPS NY rev (3m)3.8%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.2%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.34%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.03 | ||
| Fwd PE | 28.74 | ||
| P/S | 1.55 | ||
| P/FCF | 34.25 | ||
| P/OCF | 22.95 | ||
| P/B | 6.74 | ||
| P/tB | N/A | ||
| EV/EBITDA | 17.8 |
EPS(TTM)7.87
EY3.03%
EPS(NY)9.04
Fwd EY3.48%
FCF(TTM)7.59
FCFY2.92%
OCF(TTM)11.33
OCFY4.36%
SpS167.18
BVpS38.56
TBVpS-28.21
PEG (NY)1.76
PEG (5Y)3.07
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.25% | ||
| ROE | 11.34% | ||
| ROCE | 10.29% | ||
| ROIC | 7.47% | ||
| ROICexc | 7.93% | ||
| ROICexgc | 24.04% | ||
| OM | 6.52% | ||
| PM (TTM) | 2.61% | ||
| GM | 33.22% | ||
| FCFM | 4.54% |
ROA(3y)3.45%
ROA(5y)3.94%
ROE(3y)11.49%
ROE(5y)12.92%
ROIC(3y)7.12%
ROIC(5y)7.44%
ROICexc(3y)7.62%
ROICexc(5y)8.09%
ROICexgc(3y)22.51%
ROICexgc(5y)26.24%
ROCE(3y)9.82%
ROCE(5y)10.25%
ROICexcg growth 3Y-9.1%
ROICexcg growth 5Y0.26%
ROICexc growth 3Y-5.76%
ROICexc growth 5Y0.74%
OM growth 3Y-1.98%
OM growth 5Y0.22%
PM growth 3Y-14.78%
PM growth 5YN/A
GM growth 3Y0.75%
GM growth 5Y0.5%
F-Score7
Asset Turnover1.24
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.98 | ||
| Debt/FCF | 5.04 | ||
| Debt/EBITDA | 2.31 | ||
| Cap/Depr | 67.81% | ||
| Cap/Sales | 2.24% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 69.05% | ||
| Profit Quality | 173.63% | ||
| Current Ratio | 1.74 | ||
| Quick Ratio | 1.43 | ||
| Altman-Z | 3.38 |
F-Score7
WACC8.08%
ROIC/WACC0.92
Cap/Depr(3y)70.4%
Cap/Depr(5y)62.01%
Cap/Sales(3y)2.12%
Cap/Sales(5y)1.92%
Profit Quality(3y)112.97%
Profit Quality(5y)141.74%
High Growth Momentum
Growth
EPS 1Y (TTM)27.56%
EPS 3Y2.97%
EPS 5Y10.76%
EPS Q2Q%25.74%
EPS Next Y18.78%
EPS Next 2Y13.49%
EPS Next 3Y12.48%
EPS Next 5YN/A
Revenue 1Y (TTM)16.68%
Revenue growth 3Y17.1%
Revenue growth 5Y16.73%
Sales Q2Q%9.12%
Revenue Next Year7.97%
Revenue Next 2Y7.58%
Revenue Next 3Y6.39%
Revenue Next 5YN/A
EBIT growth 1Y33.31%
EBIT growth 3Y14.78%
EBIT growth 5Y16.98%
EBIT Next Year75.96%
EBIT Next 3Y25.91%
EBIT Next 5YN/A
FCF growth 1Y471.6%
FCF growth 3Y16.6%
FCF growth 5Y23.08%
OCF growth 1Y186.14%
OCF growth 3Y19.53%
OCF growth 5Y21.52%