Adjusted EBITDA by Segment
Provides a view of profitability across different segments, allowing investors to assess operational efficiency and cash flow potential without the noise of non-recurring items.
FirstService Brands has been the primary EBITDA driver since a mid‑2024 step‑up—helped by tuck‑in M&A and strong Century Fire—shifting the earnings mix away from the steadier, improving Residential segment. Residential still delivers reliable, modest margin gains, but Brands’ elevated results are lumpy and exposed to roofing weakness and uncertain restoration conversion; those two factors determine whether management’s mid‑single‑digit EBITDA outlook materializes, and modestly higher leverage from recent buybacks reduces the company’s downside cushion.
FSV Adjusted EBITDA by Segment
| Date | Corporate | FirstService Residential | FirstService Brands |
|---|---|---|---|
| Sep 30, 2026 | -$3.45M | $71.33M | $101.80M |
| Jun 30, 2026 | -$3.60M | $69.35M | $95.94M |
| Mar 31, 2026 | -$4.23M | $45.92M | $64.02M |
| Dec 31, 2025 | -$2.39M | $51.51M | $88.50M |
| Sep 30, 2025 | -$3.67M | $66.36M | $102.09M |
| Jun 30, 2025 | -$3.58M | $65.50M | $95.22M |
| Mar 31, 2025 | -$6.13M | $41.63M | $67.77M |
| Dec 31, 2024 | -$8.85M | $46.01M | $100.70M |
| Sep 30, 2024 | -$4.38M | $58.59M | $105.77M |
| Jun 30, 2024 | -$4.16M | $59.09M | $77.56M |
| Mar 31, 2024 | -$7.69M | $35.60M | $55.46M |
| Dec 31, 2023 | -$1.24M | $43.51M | $61.07M |
| Sep 30, 2023 | -$5.33M | $56.58M | $60.69M |
| Jun 30, 2023 | -$3.18M | $55.74M | $65.80M |
| Mar 31, 2023 | -$4.67M | $31.97M | $54.79M |
| Dec 31, 2022 | -$3.01M | $38.12M | $67.44M |
| Sep 30, 2022 | -$2.97M | $49.64M | $48.83M |
| Jun 30, 2022 | -$3.05M | $50.47M | $43.93M |
| Mar 31, 2022 | -$4.15M | $30.41M | $36.08M |
| Dec 31, 2021 | -$5.50M | $35.73M | $53.30M |
| Sep 30, 2021 | -$3.90M | $45.08M | $53.01M |
| Jun 30, 2021 | -$4.81M | $46.49M | $48.17M |
| Mar 31, 2021 | -$3.02M | $29.41M | $33.41M |
| Dec 31, 2020 | -$4.22M | $35.48M | $48.63M |
| Sep 30, 2020 | -$1.75M | $41.80M | $48.68M |
| Jun 30, 2020 | -$1.86M | $37.24M | $35.84M |
| Mar 31, 2020 | -$1.97M | $23.89M | $21.95M |