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FirstService (FSV) AI Stock Analysis

FSV

FirstService

(NASDAQ:FSV)

Rating:―N/A
Action:N/A
Date:―

No summary available

Positive Factors
Recurring residential management revenueContracted residential management relationships provide a recurring revenue foundation that is less dependent on individual project timing. A broad base of managed communities can support predictable cash generation, cross-selling, and continued reinvestment in acquisitions and operating capabilities.
Negative Factors
Thin profitability limits earnings leverageThin net margins leave limited cushion if labor, materials, or operating costs increase, and they constrain how much revenue growth converts into earnings. The recent gross-margin decline reinforces the risk that continued expansion may not produce proportionate profit growth.

FirstService Key Performance Indicators (KPIs)

Revenue by SegmentShows the revenue generated from each business segment, highlighting which areas are driving growth and which may need strategic adjustments.

$0.00$250.00M$500.00M$750.00M$1.00B$1.25B$1.50BMar 21Jun 21Sep 21Dec 21Mar 22Jun 22Sep 22Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26
Chart Insights

FirstService’s expansion reflects two distinct business profiles: Residential is steady, recurring and margin-accretive, providing reliable cash flow that underpins buybacks and disciplined tuck‑ins, while Brands is larger but lumpy — swings driven by roofing cycles, restoration backlog timing and acquisition activity. Recent volatility in Brands aligns with management’s call-outs on roofing weakness and delayed restoration conversions even as Century Fire and targeted tuck‑ins should help H2 recovery. Watch Brands’ roofing trends and restoration conversion cadence for near‑term upside or downside to consolidated growth.

Data provided by:The Fly

FirstService (FSV) vs. SPDR S&P 500 ETF (SPY)

-20%-15%-10%-5%0%5%10%15%20%FSV-6.05%SPY+11.79%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
$6.63B
Dividend Yield
0.82%
Average Volume (3M)
188.04K
Price to Earnings (P/E)
44.7
Beta (1Y)
0.55
Revenue Growth
3.69%
EPS Growth
7.49%
Country
US
Employees
30,000
Sector
Real Estate
Sector Strength
65
Industry
Real Estate - Services

FirstService Business Overview & Revenue Model

Company Description

FirstService Corporation, headquartered in Toronto, Canada, and established in 1989, provides a comprehensive array of property management and essential property services to both residential and commercial clients across the United States and Canada....

FirstService Earnings Call Summary

Earnings Call Date:Oct 21, 2026(Q3-2026)|% Change Since:6.14%|Next Earnings Date:Feb 08, 2027
Earnings Call SentimentPositive

The call was broadly constructive: the company delivered 6% revenue growth, 4% organic growth, 7% adjusted EPS growth, strong Residential and Restoration performance, improving roofing backlog, solid cash flow and a positive full-year outlook. These strengths outweighed meaningful challenges in roofing, Home Services demand, restoration claims, acquisition competition, limited forecasting visibility and higher leverage following buybacks.

Positive Updates

Consolidated Revenue and Earnings Growth
Third-quarter revenue was $1.53 billion, up 6% year over year, including 4% organic growth. Adjusted EBITDA increased 3% to $170 million, adjusted EPS was $1.89 and increased 7% quarter-over-quarter, and year-to-date adjusted EPS was $4.57, up 4% from $4.39.

Negative Updates

Consolidated EBITDA Margin Compression
Third-quarter consolidated EBITDA margin declined to 11.1% from 11.4% in the prior-year quarter, even though EBITDA increased 3%. FirstService Brands EBITDA was flat at $102 million and its margin declined 80 basis points to 11.3% from 12.1%.

Company Guidance

For Q4, FirstService Residential expects a similar result, with more significant margin expansion than the year-to-date performance and at least double the 30 basis points seen year to date; Restoration Brands expect mid to high single-digit growth, roofing expects mid-single-digit reported growth and organic growth that is flat to slightly down from the prior year, Home Services expects revenues to be flat in aggregate and down low single digit organically, and Century Fire expects to finish the year with a similarly strong 10%+ revenue growth. Consolidated revenue growth is expected to be similar mid-single-digit for Q4, consolidated margins slightly higher than prior year, and Brands margins modestly lower; Home Services margin should be roughly in line with Q4 last year. For the full year, the company expects mid-single-digit growth in consolidated annual revenues, at the upper end of the range expected at mid-year, mid-single-digit consolidated annual EBITDA growth, and margins relatively in line compared to prior year; full-year CapEx is expected to come in at approximately $125 million, compared with original 2026 budgeted CapEx of $140 million.

FirstService Peers Comparison

Overall Rating

UnderperformOutperform
Sector (65)

Financial Indicators

FSV against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TSE:AIFTSE:AIF67NeutralCAD 1.72B-82.04-5.13%1.19%-7.33%54.42%
TSE:MEQTSE:MEQ66NeutralCAD 1.59B9.219.49%0.18%5.14%-43.08%
Sector *65Neutral$2.17B12.193.79%4.94%3.15%1.96%
TSE:CIGITSE:CIGI62NeutralCAD 6.91B44.747.23%0.31%14.17%-4.41%
TSE:BRETSE:BRE50NeutralCAD 21.91M9.24-2.50%58.44%-6.17%―
TSE:SVITSE:SVI44NeutralCAD 1.47B-34.93-50.22%0.30%8.75%-1098.96%

* Real Estate Sector Average

Performance Comparison

-80%-60%-40%-20%0%FSVTSE:CIGITSE:AIFTSE:MEQTSE:SVITSE:BREDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
FSV and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
FSVFirstService Corporation144.98-10.96-7.03%
TSE:CIGIColliers International Group135.29-87.33-39.23%
TSE:AIFAltus Group Limited50.39-6.04-10.70%
TSE:MEQMainstreet Equity173.13-14.52-7.74%
TSE:SVIStoragevault Canada4.01-0.88-17.93%
TSE:BREBridgemarq Real Estate Services, Inc.2.31-10.39-81.81%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.