FirstService Corporation, together with its subsidiaries, provides residential property services to residential and commercial customers in the United States and Canada.
Reasonable growth potential with adequate balance sheet.
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's share price has been volatile over the past 3 months.
7 Day Return
US Real Estate
1 Year Return
US Real Estate
Return vs Industry: FSV exceeded the US Real Estate industry which returned -18.6% over the past year.
Return vs Market: FSV underperformed the US Market which returned 9.3% over the past year.
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
No news available
Is FirstService undervalued compared to its fair value and its price relative to the market?
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: FSV ($93.96) is trading above our estimate of fair value ($47.76)
Significantly Below Fair Value: FSV is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: FSV is unprofitable, so we can't compare its PE Ratio to the Real Estate industry average.
PE vs Market: FSV is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate FSV's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: FSV is overvalued based on its PB Ratio (9.2x) compared to the US Real Estate industry average (1.1x).
How is FirstService forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FSV is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).
Earnings vs Market: FSV is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: FSV's is expected to become profitable in the next 3 years.
Revenue vs Market: FSV's revenue (10.7% per year) is forecast to grow faster than the US market (8.8% per year).
High Growth Revenue: FSV's revenue (10.7% 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
How has FirstService performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FSV is currently unprofitable.
Growing Profit Margin: FSV is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: FSV is unprofitable, and losses have increased over the past 5 years at a rate of -54.2% per year.
Accelerating Growth: Unable to compare FSV's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: FSV is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (-6.4%).
Return on Equity
High ROE: FSV has a negative Return on Equity (-38.54%), as it is currently unprofitable.
How is FirstService's financial position?
Financial Position Analysis
Short Term Liabilities: FSV's short term assets ($648.6M) exceed its short term liabilities ($396.6M).
Long Term Liabilities: FSV's short term assets ($648.6M) do not cover its long term liabilities ($928.9M).
Debt to Equity History and Analysis
Debt Level: FSV's debt to equity ratio (123.8%) is considered high.
Reducing Debt: FSV's debt to equity ratio has reduced from 124.2% to 123.8% over the past 5 years.
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Whilst unprofitable FSV has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: FSV is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 4.7% per year.
What is FirstService's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FSV's dividend (0.7%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.69%).
High Dividend: FSV's dividend (0.7%) is low compared to the top 25% of dividend payers in the US market (4.55%).
Stability and Growth of Payments
Stable Dividend: FSV is not paying a notable dividend for the US market, therefore no need to check if payments are stable.
Growing Dividend: FSV is not paying a notable dividend for the US 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 US 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 US market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
D. Patterson (58yo)
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 US market ($USD5.87M).
Compensation vs Earnings: D.'s compensation has increased whilst the company is unprofitable.
|Founder & Chairman of the Board||5yrs||US$184.00k||11.04% $449.2m|
|Chief Financial Officer||5yrs||US$2.17m||0.35% $14.1m|
|Senior Vice President of Strategy & Corporate Development||5yrs||US$1.25m||0.10% $4.1m|
|Senior VP||5yrs||US$1.27m||0.53% $21.6m|
|CEO & President of FirstService Brands||10.42yrs||no data||0.027% $1.1m|
|Chief Executive Officer of FirstService Residential||7.17yrs||US$1.85m||no data|
Experienced Management: FSV's management team is seasoned and experienced (5 years average tenure).
|Founder & Chairman of the Board||5yrs||US$184.00k||11.04% $449.2m|
|Independent Director||5yrs||US$281.80k||0.021% $874.7k|
|Independent Director||5yrs||US$287.55k||0.035% $1.4m|
|Independent Director||5yrs||US$275.80k||0.028% $1.1m|
|Lead Independent Director||5yrs||US$316.05k||0.075% $3.0m|
|Independent Director||4.67yrs||US$275.80k||0.030% $1.2m|
|Independent Director||2.08yrs||US$285.05k||0.0029% $117.2k|
Experienced Board: FSV's board of directors are considered experienced (5 years average tenure).
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
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11.2%.
FirstService Corporation's company bio, employee growth, exchange listings and data sources
- Name: FirstService Corporation
- Ticker: FSV
- Exchange: NasdaqGS
- Founded: 1988
- Industry: Real Estate Services
- Sector: Real Estate
- Market Cap: CA$5.543b
- Listing Market Cap: CA$4.068b
- Shares outstanding: 43.42m
- Website: https://www.firstservice.com
Number of Employees
- FirstService Corporation
- 1140 Bay Street
- Suite 4000
- M5S 2B4
|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|
|1GIA||BST (Boerse-Stuttgart)||Yes||Common Shares||DE||EUR||Jun 2015|
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 segments, FirstService Residential and FirstService Brands. The FirstService Residential segment provides property management services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments. This segment also offers a range of ancillary services, including on-site staffing for building engineering and maintenance, full-service amenity management, security and concierge/front desk, and landscaping; and financial services comprising cash management, other banking transaction-related services, and specialized property insurance brokerage. In addition, this segment provides energy management solutions and advisory services, and resale processing services. The FirstService Brands segment offers property services through 6 franchise networks; and company-owned locations, including 18 California Closets locations and 9 Paul Davis Restoration locations. It offers residential and commercial restoration, painting, and floor coverings design and installation services; custom-designed and installed closet, and home storage solutions; home inspection services; exterior residential painting and window cleaning services; fire protection services; and heating, ventilation, and air conditioning services, as well as related services. This segment provides its services primarily under the Paul Davis Restoration, CertaPro Painters, California Closets, Pillar to Post Home Inspectors, Floor Coverings International, College Pro Painters, and Century Fire Protection brand names. FirstService Corporation was founded in 1988 and is headquartered in Toronto, Canada.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/06/02 05:22|
|End of Day Share Price||2020/06/01 00:00|
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.