NASDAQ · Financial Statements

FirstService Corporation (FSV) Financial Statements

$143.67 NASDAQ: FSV Market Cap $6.57B

FirstService Corporation most recently reported annual revenue of $5.5B, net profit of $146.0M. Revenue grew at an average annual rate of 14.8% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

FirstService Corporation: Revenue rose from $1.5B in 2016 to $5.5B in 2025, a change of +272.2% over 9 years; net profit was positive in 9 of 10 reported years; operating margin was broadly flat at about 6.1%; the most recent year shows net profit of $146.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$1.5B$1.7B$1.9B$2.4B$2.8B$3.2B$3.7B$4.3B$5.2B$5.5B
Operating Expenses$1.4B$1.6B$1.8B$2.6B$2.6B$3.0B$3.5B$4.1B$4.9B$5.2B
Operating Profit$91.0M$108.0M$128.0M$-174.0M$169.0M$202.0M$219.0M$245.0M$338.0M$336.0M
Operating Margin6.1%6.3%6.6%-7.3%6.1%6.2%5.8%5.7%6.5%6.1%
Other Income$-9.0M$-8.0M$-12.0M$-26.0M$-24.0M$7.0M$-25.0M$-42.0M$-80.0M$-68.0M
Interest$9.0M$10.0M$13.0M$32.0M$24.0M$16.0M$25.0M$47.0M$83.0M$74.0M
Depreciation$1.4B$1.7B$1.7B$80.0M$98.0M$99.0M$110.0M$128.0M$165.0M$186.0M
Profit Before Tax$82.0M$99.0M$115.0M$-200.0M$145.0M$209.0M$194.0M$203.0M$258.0M$268.0M
Tax$33.5M$22.8M$21.6M$-13.5M$24.7M$25.3M$25.3M$27.7M$27.2M$28.4M
Net Profit$34.0M$53.0M$66.0M$-252.0M$87.0M$135.0M$121.0M$100.0M$134.0M$146.0M
EPS$0.92$1.41$1.80$-5.95$2.02$3.05$2.72$2.24$2.97$3.16
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$1.1B$1.1B$1.2B$1.3B$1.4B$1.4B$1.3B$1.4B$1.4B$1.4B$1.3B$1.4B
Operating Expenses$1.0B$1.0B$1.1B$1.2B$1.3B$1.3B$1.2B$1.3B$1.3B$1.3B$1.3B$1.3B
Operating Profit$74.0M$48.0M$38.0M$84.0M$126.0M$90.0M$39.0M$97.0M$116.0M$84.0M$48.0M$101.0M
Operating Margin6.6%4.5%3.3%6.5%9.0%6.6%3.1%6.9%8.0%5.9%3.7%7.2%
Interest$12.0M$13.0M$19.0M$21.0M$22.0M$21.0M$19.0M$19.0M$18.0M$17.0M$15.0M$15.0M
Profit Before Tax$62.0M$36.0M$21.0M$64.0M$104.0M$69.0M$20.0M$79.0M$99.0M$70.0M$32.0M$81.0M
Tax$26.4M$33.6M$28.8M$29.3M$25.3M$27.6M$29.9M$29.9M$28.1M$26.8M$27.0M$27.1M
Net Profit$33.0M$6.0M$6.0M$35.0M$61.0M$32.0M$3.0M$46.0M$57.0M$40.0M$20.0M$44.0M
EPS$0.72$0.14$0.14$0.78$1.34$0.71$0.06$1.01$1.24$0.85$0.44$0.96

Over the 10 years reported for FirstService Corporation, borrowings increased from $251.0M in 2016 to $1.6B in 2025, cash stood at $180.0M in the latest year, shareholders' equity was $1.0B, current assets covered current liabilities 1.25 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$771.0M$838.0M$1.0B$2.0B$2.2B$2.5B$2.8B$3.6B$4.2B$4.3B
Current Assets$304.0M$321.0M$415.0M$668.0M$819.0M$965.0M$1.1B$1.4B$1.6B$1.1B
Cash$43.0M$57.0M$66.0M$121.0M$184.0M$166.0M$136.0M$188.0M$228.0M$180.0M
Inventory$30.0M$38.0M$48.0M$95.0M$142.0M$161.0M$242.0M$246.0M$280.0M$0
Receivables$164.0M$186.0M$240.0M$394.0M$419.0M$552.0M$657.0M$851.0M$957.0M$920.0M
Fixed Assets$73.0M$85.0M$98.0M$264.0M$280.0M$298.0M$373.0M$422.0M$495.0M$558.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$0$0$-1.0B$-3.0M$-2.0M$-2.0M$0$0$0$0
Other Assets$266.0M$292.0M$335.0M$645.0M$704.0M$843.0M$886.0M$1.2B$1.4B$0
Total Liabilities$590.0M$635.0M$771.0M$1.4B$1.3B$1.5B$1.6B$2.3B$2.6B$2.4B
Current Liabilities$183.0M$204.0M$227.0M$358.0M$544.0M$618.0M$637.0M$771.0M$851.0M$881.0M
Borrowings$251.0M$270.0M$335.0M$908.0M$754.0M$823.0M$952.0M$1.4B$1.6B$1.6B
Other Liabilities$339.0M$365.0M$437.0M$445.0M$589.0M$667.0M$681.0M$852.0M$992.0M$798.0M
Equity$0$144.0M$149.0M$605.0M$770.0M$797.0M$813.0M$856.0M$930.0M$1.0B
Reserves$181.0M$203.0M$236.0M$426.0M$660.0M$800.0M$907.0M$1.0B$1.2B$1.4B

For FirstService Corporation, operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $324.0M; free cash flow was positive in 10 of 10 years; financing activities used $33.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$109.0M$116.0M$99.0M$108.0M$292.0M$167.0M$106.0M$280.0M$286.0M$454.0M
Investing Cash Flow$-170.0M$-112.0M$-147.0M$-662.0M$-182.0M$-265.0M$-238.0M$-739.0M$-436.0M$-414.0M
Financing Cash Flow$-14.0M$-27.0M$-23.0M$-38.0M$-18.0M$-28.0M$-38.0M$-28.0M$-41.0M$-33.0M
Net Cash Flow$-2.0M$14.0M$13.0M$54.0M$75.0M$-15.0M$-35.0M$48.0M$37.0M$-64.0M
Free Cash Flow$80.0M$79.0M$59.0M$61.0M$252.0M$109.0M$28.0M$188.0M$173.0M$324.0M

Valuation & Return Ratios

MetricValue
PEG Ratio6.40
EV / EBITDA16.22
FCF Yield5.49%
Quick Ratio1.25
Interest Coverage4.54
Return 1Y-32.53%
Return 3Y-6.44%
Return 5Y-24.78%

FirstService Corporation (FSV) financials — frequently asked questions

What is FirstService Corporation's annual revenue?

FirstService Corporation (FSV) reported annual revenue of $5.5B in its most recent fiscal year.

What is FirstService Corporation's net profit?

FirstService Corporation (FSV) reported net profit of $146.0M in its most recent fiscal year.

What is FSV EV/EBITDA?

FirstService Corporation's enterprise value to EBITDA (EV/EBITDA) ratio is 16.22.

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