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FirstService (FSV) Stock Analysis

This is a peer-relative look at FirstService (FSV): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Real Estate Management & Development peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for FirstService (FSV)
Profile ItemFSV
NameFirstService Corporation
Country/RegionCanada
GICS SectorReal Estate
GICS Industry GroupReal Estate Management & Development
GICS IndustryReal Estate Management & Development
GICS Sub-IndustryReal Estate Services
Market Capitalization6.59 billion USD
CurrencyUSD
ExchangeNasdaq
Listing DateJune 2, 2015
Security TypeCommon Stock

Price Performance

Cumulative Growth

FSV
GSPC
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FirstService (FSV) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for FirstService (FSV) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for FirstService (FSV) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

FirstService (FSV) metric values compared with Real Estate Management & Development industry-group medians
MetricCurrent stock: FSVIndustry group median
Total Return (1Y)-19.68%0.01%
Total Return (3Y, Annualized)-2.35%2.79%
Total Return (5Y, Annualized)-4.37%-3.54%

Risk Profile

Drawdown History

FSV
GSPC
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FirstService (FSV) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for FirstService (FSV) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

FirstService (FSV) metric values compared with Real Estate Management & Development industry-group medians
MetricCurrent stock: FSVIndustry group median
Volatility (1Y, Annualized)29.22%36.15%
Beta (5Y)0.931.24
Max Drawdown (5Y)-44.07%-54.38%

Risk-Adjusted Performance

Risk-Return Positioning

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Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. FSV is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

FirstService (FSV) metric values compared with Real Estate Management & Development industry-group medians
MetricCurrent stock: FSVIndustry group median
Sharpe Ratio (1Y)-0.81-0.13
Sortino Ratio (1Y)-1.11-0.18

Profitability

ROE (TTM)

FirstService (FSV) posts ROE of 11.24%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.

FSV

Real Estate Management & Development industry group

11.24%

Group distribution
Max
22.48%
FSV
11.24%
Q3
11.19%
Median
3.78%
Q1
0.25%
Min
-13.61%
Largest peers
CBRE
15.60%
JLL
12.43%
FSV
11.24%
BEKE
5.08%
Z
1.33%
COMP
0.83%
CSGP
0.30%
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Where FirstService (FSV) stands on ROE within its Real Estate Management & Development peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

FirstService (FSV) keeps 2.92% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

FSV

Real Estate Management & Development industry group

2.92%

Group distribution
Max
21.64%
Q3
9.49%
FSV
2.92%
Median
2.92%
Q1
0.17%
Min
-0.35%
Largest peers
BEKE
3.77%
JLL
3.35%
CBRE
3.11%
FSV
2.92%
Z
2.27%
CSGP
0.73%
COMP
0.17%
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Where FirstService (FSV) stands on net margin within its Real Estate Management & Development peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

FirstService (FSV) turns 3.66% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

FSV

Real Estate Management & Development industry group

3.66%

Group distribution
Max
18.35%
Q3
5.09%
FSV
3.66%
Median
2.65%
Q1
-5.70%
Min
-21.67%
Largest peers
BEKE
6.74%
Z
5.09%
FSV
3.66%
JLL
3.29%
CBRE
2.65%
CSGP
0.33%
COMP
-5.70%
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Where FirstService (FSV) stands on operating margin within its Real Estate Management & Development peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

FirstService (FSV) metric values compared with Real Estate Management & Development industry-group medians
MetricCurrent stock: FSVIndustry group median
ROE (TTM)11.24%3.78%
ROA (TTM)5.09%1.50%
Net Margin (TTM)2.92%2.92%
Operating Margin (TTM)3.66%2.65%
Gross Margin (TTM)33.57%40.80%

Growth

Revenue Growth

FirstService (FSV) grew revenue 5.38%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

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FirstService (FSV): Revenue Growth across different time periods, set against Real Estate Management & Development industry-group medians.

EPS Growth

FirstService (FSV) grew earnings per share 6.73%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

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FirstService (FSV): EPS Growth across different time periods, set against Real Estate Management & Development industry-group medians.

Growth Metrics

FirstService (FSV) metric values compared with Real Estate Management & Development industry-group medians
MetricCurrent stock: FSVIndustry group median
Revenue Growth (YoY)5.38%10.79%
Revenue Growth (3Y CAGR)13.64%6.78%
EPS Growth (YoY)6.73%-8.88%
EPS Growth (3Y CAGR)5.24%-3.54%

Financial Strength

Current Ratio (MRQ)

FirstService (FSV) has current ratio of 1.74, in the healthier middle range for its industry. The short-term asset cushion looks balanced relative to peers rather than stretched thin.

FSV

Real Estate Management & Development industry group

1.74

Group distribution
Max
5.67
Q3
3.15
Median
1.91
FSV
1.74
Q1
1.38
Min
0.61
Largest peers
Z
2.29
CSGP
2.20
FSV
1.74
BEKE
1.63
JLL
1.12
CBRE
1.08
COMP
0.84
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Where FirstService (FSV) stands on current ratio within its Real Estate Management & Development peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

FirstService (FSV) has debt-to-equity ratio of 0.72, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

FSV

Real Estate Management & Development industry group

0.72

Group distribution
Max
1.60
Q3
0.89
FSV
0.72
Median
0.43
Q1
0.20
Min
0.10
Largest peers
COMP
1.44
CBRE
1.14
FSV
0.72
JLL
0.54
BEKE
0.25
CSGP
0.14
Z
0.10
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Where FirstService (FSV) stands on debt-to-equity ratio within its Real Estate Management & Development peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

FirstService (FSV) metric values compared with Real Estate Management & Development industry-group medians
MetricCurrent stock: FSVIndustry group median
Current Ratio (MRQ)1.741.91
Debt / Equity (MRQ)0.720.43
Net Debt / EBITDA2.193.56

Dividends

Dividend Yield (TTM)

FirstService (FSV) has dividend yield of 0.77%, in the industry’s normal income range. It provides a meaningful dividend without the red flag of an unusually high headline yield.

FSV

Real Estate Management & Development industry group

0.77%

Group distribution
Max
1.62%
FSV
0.77%
Q3
0.77%
Median
0.00%
Q1
0.00%
Min
0.00%
Largest peers
BEKE
11.38%
FSV
0.77%
CBRE
0.00%
JLL
0.00%
CSGP
0.00%
COMP
0.00%
Z
0.00%
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Where FirstService (FSV) stands on dividend yield within its Real Estate Management & Development peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

FirstService (FSV) has payout ratio of 31.83%, above the industry’s usual payout band. A larger share of earnings is going to dividends, so the cushion narrows if profit weakens.

FSV

Real Estate Management & Development industry group

31.83%

Group distribution
Max
43.71%
FSV
31.83%
Q3
31.09%
Median
0.00%
Q1
0.00%
Min
0.00%
Largest peers
BEKE
88.12%
FSV
31.83%
CBRE
0.00%
JLL
0.00%
CSGP
0.00%
COMP
0.00%
Z
0.00%
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Where FirstService (FSV) stands on payout ratio within its Real Estate Management & Development peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

FirstService (FSV) metric values compared with Real Estate Management & Development industry-group medians
MetricCurrent stock: FSVIndustry group median
Dividend Yield (TTM)0.77%0.00%
Dividend Payout Ratio (TTM)31.83%0.00%

Valuation

P/E Ratio (TTM)

FirstService (FSV) trades at P/E ratio of 41.30, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

FSV

Real Estate Management & Development industry group

41.30

Group distribution
Max
298.83
Q3
132.60
FSV
41.30
Median
39.78
Q1
18.37
Min
4.76
Largest peers
COMP
571.00
CSGP
407.14
Z
132.71
FSV
41.30
BEKE
38.53
CBRE
31.64
JLL
17.55
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Where FirstService (FSV) stands on P/E ratio within its Real Estate Management & Development peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

FirstService (FSV) trades at 1.18 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

FSV

Real Estate Management & Development industry group

1.18

Group distribution
Max
13.40
Q3
6.71
Median
1.59
FSV
1.18
Q1
0.87
Min
0.00
Largest peers
CSGP
3.41
Z
2.71
FSV
1.18
COMP
1.03
CBRE
0.96
JLL
0.56
BEKE
0.20
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Where FirstService (FSV) stands on P/S ratio within its Real Estate Management & Development peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

FirstService (FSV) trades at 4.61 on P/B ratio, in the higher book-value quartile. The market is paying a premium to book, so stronger ROE, cleaner assets, or a better growth profile need to justify it.

FSV

Real Estate Management & Development industry group

4.61

Group distribution
Max
6.49
FSV
4.61
Q3
3.31
Median
1.65
Q1
1.02
Min
0.43
Largest peers
CBRE
4.75
FSV
4.61
COMP
3.02
JLL
2.06
BEKE
1.96
Z
1.57
CSGP
1.47
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Where FirstService (FSV) stands on P/B ratio within its Real Estate Management & Development peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

FirstService (FSV) metric values compared with Real Estate Management & Development industry-group medians
MetricCurrent stock: FSVIndustry group median
P/E Ratio (TTM)41.3039.78
P/S Ratio (TTM)1.181.59
P/B Ratio (MRQ)4.611.65
Free Cash Flow Yield (TTM)5.24%3.70%