FIRSTSERVICE CORP (FSV.CA) Stock Fundamental Analysis
TSX:FSV - Toronto Stock Exchange - CA33767E2024 - Common Stock - Currency: CAD
Taking everything into account, FSV scores 5 out of 10 in our fundamental rating. FSV was compared to 32 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. FSV is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year FSV was profitable.
In the past year FSV had a positive cash flow from operations.
Each year in the past 5 years FSV has been profitable.
FSV had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
FSV has a better Return On Assets (3.25%) than 71.88% of its industry peers.
FSV has a Return On Equity of 11.34%. This is in the better half of the industry: FSV outperforms 78.13% of its industry peers.
FSV's Return On Invested Capital of 7.47% is amongst the best of the industry. FSV outperforms 84.38% of its industry peers.
The Average Return On Invested Capital over the past 3 years for FSV is in line with the industry average of 7.45%.
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
With a Profit Margin value of 2.61%, FSV perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
In the last couple of years the Profit Margin of FSV has declined.
With a Operating Margin value of 6.52%, FSV is not doing good in the industry: 75.00% of the companies in the same industry are doing better.
In the last couple of years the Operating Margin of FSV has remained more or less at the same level.
With a Gross Margin value of 33.22%, FSV is not doing good in the industry: 71.88% of the companies in the same industry are doing better.
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so FSV is destroying value.
Compared to 1 year ago, FSV has more shares outstanding
The number of shares outstanding for FSV has been increased compared to 5 years ago.
The debt/assets ratio for FSV has been reduced compared to a year ago.
2.2 Solvency
The Debt to FCF ratio of FSV is 5.04, which is a neutral value as it means it would take FSV, 5.04 years of fcf income to pay off all of its debts.
FSV has a better Debt to FCF ratio (5.04) than 84.38% of its industry peers.
FSV has a Debt/Equity ratio of 0.98. This is a neutral value indicating FSV is somewhat dependend on debt financing.
FSV has a Debt to Equity ratio of 0.98. This is comparable to the rest of the industry: FSV outperforms 43.75% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.98 | ||
| Debt/FCF | 5.04 | ||
| Altman-Z | N/A |
ROIC/WACC0.98
WACC7.64%
2.3 Liquidity
FSV has a Current Ratio of 1.74. This is a normal value and indicates that FSV is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of FSV (1.74) is better than 78.13% of its industry peers.
A Quick Ratio of 1.74 indicates that FSV should not have too much problems paying its short term obligations.
The Quick ratio of FSV (1.74) is better than 78.13% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.74 | ||
| Quick Ratio | 1.74 |
3. Growth
3.1 Past
FSV shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 27.56%, which is quite impressive.
The Earnings Per Share has been growing by 10.76% on average over the past years. This is quite good.
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
The Earnings Per Share is expected to grow by 12.41% on average over the next years. This is quite good.
FSV is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.24% yearly.
EPS Next Y14.43%
EPS Next 2Y12.41%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year7.85%
Revenue Next 2Y7.5%
Revenue Next 3Y6.24%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 35.02, the valuation of FSV can be described as expensive.
The rest of the industry has a similar Price/Earnings ratio as FSV.
FSV is valuated rather expensively when we compare the Price/Earnings ratio to 26.99, which is the current average of the S&P500 Index.
FSV is valuated quite expensively with a Price/Forward Earnings ratio of 31.06.
Compared to the rest of the industry, the Price/Forward Earnings ratio of FSV indicates a somewhat cheap valuation: FSV is cheaper than 68.75% of the companies listed in the same industry.
FSV is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 36.36, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 35.02 | ||
| Fwd PE | 31.06 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FSV indicates a somewhat cheap valuation: FSV is cheaper than 71.88% of the companies listed in the same industry.
The rest of the industry has a similar Price/Free Cash Flow ratio as FSV.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 36.21 | ||
| EV/EBITDA | 18.7 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates FSV does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of FSV may justify a higher PE ratio.
FSV's earnings are expected to grow with 12.41% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.43
PEG (5Y)3.26
EPS Next 2Y12.41%
EPS Next 3YN/A
5. Dividend
5.1 Amount
FSV has a yearly dividend return of 0.52%, which is pretty low.
FSV's Dividend Yield is comparable with the industry average which is at 3.37.
Compared to an average S&P500 Dividend Yield of 2.40, FSV's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.52% |
5.2 History
The dividend of FSV is nicely growing with an annual growth rate of 11.41%!
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.
The dividend of FSV is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP32.66%
EPS Next 2Y12.41%
EPS Next 3YN/A
TSX:FSV (8/6/2025, 7:00:00 PM)
270.04
-1.68 (-0.62%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)
Earnings (Next)
Inst Owners75.99%
Inst Owner ChangeN/A
Ins Owners9.35%
Ins Owner ChangeN/A
Market Cap12.28B
Analysts78.33
Price Target214.6 (-20.53%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.52% |
Yearly Dividend1.35
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%
PT rev (3m)0.1%
EPS NQ rev (1m)-2.35%
EPS NQ rev (3m)0.64%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)-0.13%
Revenue NQ rev (3m)1.64%
Revenue NY rev (1m)0.23%
Revenue NY rev (3m)-0.74%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 35.02 | ||
| Fwd PE | 31.06 | ||
| P/S | 1.64 | ||
| P/FCF | 36.21 | ||
| P/OCF | 24.26 | ||
| P/B | 7.13 | ||
| P/tB | N/A | ||
| EV/EBITDA | 18.7 |
EPS(TTM)7.71
EY2.86%
EPS(NY)8.69
Fwd EY3.22%
FCF(TTM)7.46
FCFY2.76%
OCF(TTM)11.13
OCFY4.12%
SpS164.29
BVpS37.89
TBVpS-27.73
PEG (NY)2.43
PEG (5Y)3.26
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 | 1.74 | ||
| Altman-Z | N/A |
F-Score7
WACC7.64%
ROIC/WACC0.98
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 Y14.43%
EPS Next 2Y12.41%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)16.68%
Revenue growth 3Y17.1%
Revenue growth 5Y16.73%
Sales Q2Q%9.12%
Revenue Next Year7.85%
Revenue Next 2Y7.5%
Revenue Next 3Y6.24%
Revenue Next 5YN/A
EBIT growth 1Y33.31%
EBIT growth 3Y14.78%
EBIT growth 5Y16.98%
EBIT Next Year73.62%
EBIT Next 3Y24.85%
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%