FirstService (FSV) Stock Analysis

October 26, 2026

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 Item	FSV
Name	FirstService Corporation
Country/Region	Canada
GICS Sector	Real Estate
GICS Industry Group	Real Estate Management & Development
GICS Industry	Real Estate Management & Development
GICS Sub-Industry	Real Estate Services
Market Capitalization	6.27 billion USD
Currency	USD
Exchange	Nasdaq
Listing Date	June 2, 2015
Security Type	Common Stock

Price Performance

Cumulative Growth

FSV

GSPC

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
Metric	Current stock: FSV	Industry group median
Total Return (1Y)	-13.09%	-13.72%
Total Return (3Y, Annualized)	1.42%	3.49%
Total Return (5Y, Annualized)	-5.98%	-5.93%

Risk Profile

Drawdown History

FSV

GSPC

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
Metric	Current stock: FSV	Industry group median
Volatility (1Y, Annualized)	30.56%	36.94%
Beta (5Y)	0.91	1.25
Max Drawdown (5Y)	-43.97%	-54.72%

Risk-Adjusted Performance

Risk-Return Positioning

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
Metric	Current stock: FSV	Industry group median
Sharpe Ratio (1Y)	-0.57	-0.57
Sortino Ratio (1Y)	-0.81	-0.82

Profitability

ROE (TTM)

FirstService (FSV) posts ROE of 12.12%, 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

12.12%

Group distribution

Max: 18.09%
FSV: 12.12%
Q3: 11.52%
Median: 3.63%
Q1: 1.22%
Min: -6.89%

Largest peers

CBRE: 16.19%
JLL: 13.52%
FSV: 12.12%
BEKE: 7.01%
COMP: 3.63%
ZG: 1.22%
CSGP: 0.89%

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 2.59% 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

2.59%

Group distribution

Max: 24.87%
Q3: 12.31%
Median: 3.07%
FSV: 2.59%
Q1: 1.77%
Min: -0.72%

Largest peers

BEKE: 5.32%
JLL: 3.64%
CBRE: 3.07%
FSV: 2.59%
CSGP: 2.08%
ZG: 1.96%
COMP: 0.64%

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 7.29% 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

7.29%

Group distribution

Max: 12.33%
Q3: 11.25%
FSV: 7.29%
Median: 4.66%
Q1: 1.09%
Min: -11.08%

Largest peers

BEKE: 12.33%
CSGP: 8.22%
FSV: 7.29%
ZG: 4.66%
JLL: 4.57%
CBRE: 3.93%
COMP: 3.76%

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
Metric	Current stock: FSV	Industry group median
ROE (TTM)	12.12%	3.63%
ROA (TTM)	4.89%	2.40%
Net Margin (TTM)	2.59%	3.07%
Operating Margin (TTM)	7.29%	4.66%
Gross Margin (TTM)	33.05%	40.01%

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.

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.

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
Metric	Current stock: FSV	Industry group median
Revenue Growth (YoY)	5.38%	11.45%
Revenue Growth (3Y CAGR)	13.64%	9.57%
EPS Growth (YoY)	6.73%	3.37%
EPS Growth (3Y CAGR)	5.24%	-3.20%

Financial Strength

Current Ratio (MRQ)

FirstService (FSV) has current ratio of 1.69, 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

1.69

Group distribution

Max: 5.86
Q3: 3.46
Median: 1.92
FSV: 1.69
Q1: 1.19
Min: 0.74

Largest peers

CSGP: 2.21
ZG: 1.92
BEKE: 1.70
FSV: 1.69
CBRE: 1.17
JLL: 1.13
COMP: 1.06

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 1.26, in the higher-leverage quartile for its industry. The heavier reliance on borrowing can make earnings, rates, or refinancing conditions matter more.

FSV

Real Estate Management & Development industry group

1.26

Group distribution

Max: 2.15
FSV: 1.26
Q3: 1.21
Median: 0.44
Q1: 0.21
Min: 0.13

Largest peers

COMP: 1.38
FSV: 1.26
CBRE: 1.13
JLL: 0.42
BEKE: 0.22
CSGP: 0.15
ZG: 0.13

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
Metric	Current stock: FSV	Industry group median
Current Ratio (MRQ)	1.69	1.92
Debt / Equity (MRQ)	1.26	0.44
Net Debt / EBITDA	3.13	3.33

Dividends

Dividend Yield (TTM)

FirstService (FSV) has dividend yield of 0.81%, in the upper peer-yield quartile while still inside the industry range. The dividend offers more cash income per dollar of share price than most peers, though payout coverage still matters.

FSV

Real Estate Management & Development industry group

0.81%

Group distribution

Max: 1.27%
FSV: 0.81%
Q3: 0.57%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

BEKE: 11.20%
FSV: 0.81%
CBRE: 0.00%
JLL: 0.00%
CSGP: 0.00%
ZG: 0.00%
COMP: 0.00%

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 36.50%, 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

36.50%

Group distribution

Max: 46.44%
FSV: 36.50%
Q3: 29.11%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

BEKE: 46.44%
FSV: 36.50%
CBRE: 0.00%
JLL: 0.00%
CSGP: 0.00%
ZG: 0.00%
COMP: 0.00%

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
Metric	Current stock: FSV	Industry group median
Dividend Yield (TTM)	0.81%	0.00%
Dividend Payout Ratio (TTM)	36.50%	0.00%

Valuation

P/E Ratio (TTM)

FirstService (FSV) trades at P/E ratio of 44.07, 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

44.07

Group distribution

Max: 162.50
Q3: 74.57
FSV: 44.07
Median: 40.79
Q1: 14.40
Min: 4.06

Largest peers

CSGP: 188.44
COMP: 162.50
ZG: 148.04
FSV: 44.07
BEKE: 28.47
CBRE: 26.40
JLL: 14.40

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 1.10 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

1.10

Group distribution

Max: 10.88
Q3: 5.26
FSV: 1.10
Median: 1.10
Q1: 0.59
Min: 0.00

Largest peers

CSGP: 3.87
ZG: 2.72
FSV: 1.10
CBRE: 0.79
COMP: 0.71
JLL: 0.50
BEKE: 0.21

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 6.64 on P/B ratio, above the industry benchmark range. Investors are putting an unusually rich price on each dollar of book equity relative to peers.

FSV

Real Estate Management & Development industry group

6.64

Group distribution

FSV: 6.64
Max: 4.42
Q3: 2.47
Median: 1.78
Q1: 1.03
Min: 0.36

Largest peers

FSV: 6.64
CBRE: 4.10
COMP: 2.47
BEKE: 1.93
JLL: 1.85
ZG: 1.78
CSGP: 1.73

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
Metric	Current stock: FSV	Industry group median
P/E Ratio (TTM)	44.07	40.79
P/S Ratio (TTM)	1.10	1.10
P/B Ratio (MRQ)	6.64	1.78
Free Cash Flow Yield (TTM)	4.20%	4.42%