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Market Cap

CA$8.3b

Last Updated

2021/05/13 02:30 UTC

Data Sources

Company Financials +

Executive Summary

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. More Details


Snowflake Analysis

Excellent balance sheet with limited growth.


Similar Companies

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 +/- 4% a week.

Volatility Over Time: FSV's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

-5.7%

FSV

-4.4%

CA Real Estate

-0.8%

CA Market


1 Year Return

70.1%

FSV

53.6%

CA Real Estate

38.7%

CA Market

Return vs Industry: FSV exceeded the Canadian Real Estate industry which returned 53.6% over the past year.

Return vs Market: FSV exceeded the Canadian Market which returned 38.7% over the past year.


Shareholder returns

FSVIndustryMarket
7 Day-5.7%-4.4%-0.8%
30 Day-4.5%-0.6%0.2%
90 Day-1.3%1.3%5.5%
1 Year71.0%70.1%54.8%53.6%43.3%38.7%
3 Year112.5%108.4%52.7%47.6%27.3%15.2%
5 Year237.2%225.2%119.9%106.6%57.2%33.6%

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

Valuation

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

65.15x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FSV (CA$189.1) is trading above our estimate of fair value (CA$126.72)

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 (65.2x) compared to the Canadian Real Estate industry average (18.4x).

PE vs Market: FSV is poor value based on its PE Ratio (65.2x) compared to the Canadian market (15.6x).


Price to Earnings Growth Ratio

PEG Ratio: FSV is poor value based on its PEG Ratio (6.2x)


Price to Book Ratio

PB vs Industry: FSV is overvalued based on its PB Ratio (10x) compared to the CA Real Estate industry average (0.9x).


Future Growth

How is FirstService forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

10.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FSV's forecast earnings growth (10.6% per year) is above the savings rate (1.5%).

Earnings vs Market: FSV's earnings (10.6% per year) are forecast to grow slower than the Canadian market (14.7% per year).

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

Revenue vs Market: FSV's revenue (8.2% per year) is forecast to grow faster than the Canadian market (6.7% per year).

High Growth Revenue: FSV's revenue (8.2% 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?

-19.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FSV has high quality earnings.

Growing Profit Margin: FSV became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: FSV's earnings have declined by 19.4% per year over the past 5 years.

Accelerating Growth: FSV has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: FSV has become profitable in the last year, making it difficult to compare its past year earnings growth to the Real Estate industry (5.5%).


Return on Equity

High ROE: FSV's Return on Equity (14.5%) is considered low.


Financial Health

How is FirstService's financial position?


Financial Position Analysis

Short Term Liabilities: FSV's short term assets ($791.6M) exceed its short term liabilities ($530.8M).

Long Term Liabilities: FSV's short term assets ($791.6M) exceed its long term liabilities ($760.4M).


Debt to Equity History and Analysis

Debt Level: FSV's debt to equity ratio (61.6%) is considered high.

Reducing Debt: FSV's debt to equity ratio has reduced from 86% to 61.6% over the past 5 years.

Debt Coverage: FSV's debt is well covered by operating cash flow (51.4%).

Interest Coverage: FSV's interest payments on its debt are well covered by EBIT (9.7x coverage).


Balance Sheet


Dividend

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

0.47%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FSV's dividend (0.47%) isn’t notable compared to the bottom 25% of dividend payers in the Canadian market (1.53%).

High Dividend: FSV's dividend (0.47%) is low compared to the top 25% of dividend payers in the Canadian market (4.57%).


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?

5.9yrs

Average management tenure


CEO

D. Patterson (59 yo)

5.92yrs

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 ($USD5.61M) is above average for companies of similar size in the Canadian market ($USD4.11M).

Compensation vs Earnings: D.'s compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: FSV's management team is seasoned and experienced (5.9 years average tenure).


Board Members

Experienced Board: FSV's board of directors are considered experienced (5.9 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 been diluted in the past year, with total shares outstanding growing by 5.3%.


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$8.288b
  • Shares outstanding: 43.83m
  • 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 Analysis2021/05/13 02:30
End of Day Share Price2021/05/12 00:00
Earnings2021/03/31
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.