FirstService
Market Cap
CA$7.4b
Last Updated
2020/10/27 00:08 UTC
Data Sources
Company Financials +
Executive Summary
FirstService Corporation, together with its subsidiaries, provides residential property services to residential and commercial customers in the United States and Canada. More Details
Rewards
Risk Analysis
Snowflake Analysis
Reasonable growth potential with adequate balance sheet.
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 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-5.6%
FSV
-3.0%
CA Real Estate
-1.2%
CA Market
1 Year Return
45.8%
FSV
9.2%
CA Real Estate
-5.5%
CA Market
Return vs Industry: FSV exceeded the Canadian Real Estate industry which returned 9.2% over the past year.
Return vs Market: FSV exceeded the Canadian Market which returned -5.5% over the past year.
Shareholder returns
| FSV | Industry | Market | |
|---|---|---|---|
| 7 Day | -5.6% | -3.0% | -1.2% |
| 30 Day | -2.0% | -1.2% | 0.4% |
| 90 Day | 6.5% | 5.5% | -0.3% |
| 1 Year | 46.8%45.8% | 10.4%9.2% | -2.1%-5.5% |
| 3 Year | 91.1%87.2% | 31.9%27.3% | 3.9%-6.2% |
| 5 Year | 275.2%260.9% | 72.5%62.0% | 32.3%12.0% |
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
2 weeks ago | Simply Wall St
Is FirstService Corporation's (TSE:FSV) Shareholder Ownership Skewed Towards Insiders?1 month ago | Simply Wall St
FirstService Corporation's (TSE:FSV) Stock Has Seen Strong Momentum: Does That Call For Deeper Study Of Its Financial Prospects?1 month ago | Simply Wall St
If You Had Bought FirstService (TSE:FSV) Shares Five Years Ago You'd Have Earned285% ReturnsValuation
Is FirstService undervalued compared to its fair value and its price relative to the market?
91.19x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: FSV (CA$168.14) is trading above our estimate of fair value (CA$58.61)
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 (91.2x) compared to the CA Real Estate industry average (14.9x).
PE vs Market: FSV is poor value based on its PE Ratio (91.2x) compared to the Canadian market (16x).
Price to Earnings Growth Ratio
PEG Ratio: FSV is poor value based on its PEG Ratio (3.7x)
Price to Book Ratio
PB vs Industry: FSV is overvalued based on its PB Ratio (9.2x) compared to the CA Real Estate industry average (0.7x).
Next Steps
Future Growth
How is FirstService forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
24.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FSV's forecast earnings growth (24.7% per year) is above the savings rate (1.7%).
Earnings vs Market: FSV's earnings (24.7% per year) are forecast to grow faster than the Canadian market (22.8% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: FSV's revenue (9.8% per year) is forecast to grow faster than the Canadian market (5.8% per year).
High Growth Revenue: FSV's revenue (9.8% 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
Next Steps
Past Performance
How has FirstService performed over the past 5 years?
-46.1%
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 has become profitable over the past 5 years, growing earnings by -46.1% per year.
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 (-21.6%).
Return on Equity
High ROE: FSV's Return on Equity (9.9%) is considered low.
Next Steps
Financial Health
How is FirstService's financial position?
Financial Position Analysis
Short Term Liabilities: FSV's short term assets ($764.5M) exceed its short term liabilities ($440.6M).
Long Term Liabilities: FSV's short term assets ($764.5M) do not cover its long term liabilities ($828.5M).
Debt to Equity History and Analysis
Debt Level: FSV's debt to equity ratio (82.9%) is considered high.
Reducing Debt: FSV's debt to equity ratio has reduced from 99.7% to 82.9% over the past 5 years.
Debt Coverage: FSV's debt is well covered by operating cash flow (34.1%).
Interest Coverage: FSV's interest payments on its debt are well covered by EBIT (3.8x coverage).
Balance Sheet
Next Steps
Dividend
What is FirstService current dividend yield, its reliability and sustainability?
0.52%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FSV's dividend (0.52%) isn’t notable compared to the bottom 25% of dividend payers in the Canadian market (1.7%).
High Dividend: FSV's dividend (0.52%) is low compared to the top 25% of dividend payers in the Canadian market (5.93%).
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?
5.3yrs
Average management tenure
CEO
D. Patterson (59 yo)
5.33yrs
Tenure
US$4,514,000
Compensation
Mr. D. Scott Patterson has been the Chief Executive Officer of FirstService Corporation since June 1, 2015 and served as its President and Chief Operating Officer from 2003 to 2015. Mr. Patterson is respon ...
CEO Compensation Analysis
Compensation vs Market: D.'s total compensation ($USD4.51M) is about average for companies of similar size in the Canadian market ($USD3.97M).
Compensation vs Earnings: D.'s compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder & Chairman of the Board | 5.33yrs | US$184.00k | 10.04% $ 745.7m | |
| President | 5.33yrs | US$4.51m | 2.31% $ 171.7m | |
| Chief Financial Officer | 5.33yrs | US$2.17m | 0.39% $ 29.0m | |
| Senior Vice President of Strategy & Corporate Development | 5.33yrs | US$1.25m | 0.062% $ 4.6m | |
| Senior VP | 5.33yrs | US$1.27m | 0.55% $ 41.1m | |
| CEO & President of FirstService Brands | 10.75yrs | no data | 0.025% $ 1.9m | |
| Chief Executive Officer of FirstService Residential | 7.5yrs | US$1.85m | no data |
5.3yrs
Average Tenure
59yo
Average Age
Experienced Management: FSV's management team is seasoned and experienced (5.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder & Chairman of the Board | 5.33yrs | US$184.00k | 10.04% $ 745.7m | |
| President | 5.33yrs | US$4.51m | 2.31% $ 171.7m | |
| Independent Director | 5.33yrs | US$281.80k | 0.014% $ 1.1m | |
| Independent Director | 5.33yrs | US$287.55k | 0.035% $ 2.6m | |
| Independent Director | 5.33yrs | US$275.80k | 0.028% $ 2.1m | |
| Lead Independent Director | 5.33yrs | US$316.05k | 0.074% $ 5.5m | |
| Independent Director | 5yrs | US$275.80k | 0.0065% $ 484.2k | |
| Independent Director | 2.42yrs | US$285.05k | 0.0029% $ 213.9k |
5.3yrs
Average Tenure
65.5yo
Average Age
Experienced Board: FSV's board of directors are considered experienced (5.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: FSV insiders have only sold shares 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 10.8%.
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: 1988
- Industry: Real Estate Services
- Sector: Real Estate
- Market Cap: CA$7.426b
- Shares outstanding: 43.47m
- Website: https://www.firstservice.com
Number of Employees
Location
- FirstService Corporation
- 1255 Bay Street
- Suite 600
- Toronto
- Ontario
- M5R 2A9
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| FSV | TSX (The Toronto Stock Exchange) | Yes | Common Shares | CA | CAD | Jun 2015 |
| FSV | NasdaqGS (Nasdaq Global Select) | Yes | Common Shares | US | USD | Jun 2015 |
Biography
FirstService Corporation, together with its subsidiaries, provides residential property services to residential and commercial customers in the United States and Canada. The company operates through two se ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/27 00:08 |
| End of Day Share Price | 2020/10/26 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.