FSV

FirstServiceTSX:FSV Stock Report

Market Cap

CA$10.7b

7D

1.3%

1Y

46.7%

Updated

18 Sep, 2021

Data

Company Financials +
FSV fundamental analysis
Snowflake Score
Valuation0/6
Future Growth1/6
Past Performance4/6
Financial Health5/6
Dividends0/6

FSV Overview

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada.

Share Price & News

How has FirstService's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FSV is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: FSV's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

1.3%

FSV

0.3%

CA Real Estate

-0.6%

CA Market


1 Year Return

46.7%

FSV

42.0%

CA Real Estate

29.0%

CA Market

Return vs Industry: FSV exceeded the Canadian Real Estate industry which returned 40.4% over the past year.

Return vs Market: FSV exceeded the Canadian Market which returned 29.1% over the past year.


Shareholder returns

FSVIndustryMarket
7 Day1.3%0.3%-0.6%
30 Day4.8%1.8%1.5%
90 Day14.1%9.8%2.3%
1 Year47.4%46.7%43.1%42.0%32.9%29.0%
3 Year125.3%121.1%70.4%64.8%32.4%19.9%
5 Year294.0%280.6%142.8%128.4%52.2%29.7%

Long-Term Price Volatility Vs. Market

How volatile is FirstService's share price compared to the market and industry in the last 5 years?


Simply Wall St News

FirstService Fundamentals Summary

How do FirstService's earnings and revenue compare to its market cap?
FSV fundamental statistics
Market CapUS$8.36b
Earnings (TTM)US$113.44m
Revenue (TTM)US$3.06b

73.7x

P/E Ratio

2.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FSV income statement (TTM)
RevenueUS$3.06b
Cost of RevenueUS$2.07b
Gross ProfitUS$989.56m
ExpensesUS$876.11m
EarningsUS$113.44m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)2.60
Gross Margin32.34%
Net Profit Margin3.71%
Debt/Equity Ratio60.8%

How did FSV perform over the long term?

See historical performance and comparison

Dividends

0.4%

Current Dividend Yield

27%

Payout Ratio

Valuation

Is FirstService undervalued compared to its fair value and its price relative to the market?

73.7x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FSV (CA$242.98) is trading above our estimate of fair value (CA$93.99)

Significantly Below Fair Value: FSV is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: FSV is poor value based on its PE Ratio (73.7x) compared to the Canadian Real Estate industry average (11.2x).

PE vs Market: FSV is poor value based on its PE Ratio (73.7x) compared to the Canadian market (13x).


Price to Earnings Growth Ratio

PEG Ratio: FSV is poor value based on its PEG Ratio (6.6x)


Price to Book Ratio

PB vs Industry: FSV is overvalued based on its PB Ratio (11.6x) compared to the CA Real Estate industry average (1x).


Future Growth

How is FirstService forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

11.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FSV's forecast earnings growth (11.2% per year) is above the savings rate (1.5%).

Earnings vs Market: FSV's earnings (11.2% per year) are forecast to grow slower than the Canadian market (12.2% per year).

High Growth Earnings: FSV's earnings are forecast to grow, but not significantly.

Revenue vs Market: FSV's revenue (5.8% per year) is forecast to grow slower than the Canadian market (6.1% per year).

High Growth Revenue: FSV's revenue (5.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FSV's Return on Equity is forecast to be high in 3 years time


Past Performance

How has FirstService performed over the past 5 years?

-10.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FSV has high quality earnings.

Growing Profit Margin: FSV's current net profit margins (3.7%) are higher than last year (2.2%).


Past Earnings Growth Analysis

Earnings Trend: FSV's earnings have declined by 10.6% per year over the past 5 years.

Accelerating Growth: FSV's earnings growth over the past year (97.3%) exceeds its 5-year average (-10.6% per year).

Earnings vs Industry: FSV earnings growth over the past year (97.3%) exceeded the Real Estate industry 38.2%.


Return on Equity

High ROE: FSV's Return on Equity (15.3%) is considered low.


Financial Health

How is FirstService's financial position?


Financial Position Analysis

Short Term Liabilities: FSV's short term assets ($887.0M) exceed its short term liabilities ($599.9M).

Long Term Liabilities: FSV's short term assets ($887.0M) exceed its long term liabilities ($787.8M).


Debt to Equity History and Analysis

Debt Level: FSV's debt to equity ratio (60.8%) is considered high.

Reducing Debt: FSV's debt to equity ratio has reduced from 99% to 60.8% over the past 5 years.

Debt Coverage: FSV's debt is well covered by operating cash flow (43.7%).

Interest Coverage: FSV's interest payments on its debt are well covered by EBIT (11.5x coverage).


Balance Sheet


Dividend

What is FirstService current dividend yield, its reliability and sustainability?

0.38%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FSV's dividend (0.38%) isn’t notable compared to the bottom 25% of dividend payers in the Canadian market (1.63%).

High Dividend: FSV's dividend (0.38%) is low compared to the top 25% of dividend payers in the Canadian market (4.46%).


Stability and Growth of Payments

Stable Dividend: FSV is not paying a notable dividend for the Canadian market, therefore no need to check if payments are stable.

Growing Dividend: FSV is not paying a notable dividend for the Canadian market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: FSV is not paying a notable dividend for the Canadian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FSV's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.3yrs

Average management tenure


CEO

D. Patterson (60 yo)

6.25yrs

Tenure

US$5,609,800

Compensation

Mr. D. Scott Patterson has been the Chief Executive Officer an d President of FirstService Corporation since June 1, 2015. Pre-spin-off, Mr. Patterson was the President and Chief Operating Officer of forme...


CEO Compensation Analysis

Compensation vs Market: D.'s total compensation ($USD5.61M) is above average for companies of similar size in the Canadian market ($USD3.66M).

Compensation vs Earnings: D.'s compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: FSV's management team is seasoned and experienced (6.3 years average tenure).


Board Members

Experienced Board: FSV's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FSV insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

FirstService Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: FirstService Corporation
  • Ticker: FSV
  • Exchange: TSX
  • Founded: 1989
  • Industry: Real Estate Services
  • Sector: Real Estate
  • Market Cap: CA$10.659b
  • Shares outstanding: 43.87m
  • Website: https://www.firstservice.com

Number of Employees


Location

  • FirstService Corporation
  • 1255 Bay Street
  • Suite 600
  • Toronto
  • Ontario
  • M5R 2A9
  • Canada

Listings


Biography

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Can...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/18 00:54
End of Day Share Price2021/09/17 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.