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What this page is: Delvantic's full research page for FirstService Corporation (FSV) — AI-driven forensic equity research: mechanical valuation models (DCF, EPV, anchored-PE, scenario) plus three independent AI lenses (Quality / Value / Sentiment). Everything below is rendered server-side; you are not missing content that requires JavaScript. All scores are predictions and research opinions, not financial advice.

Page map (sections in order; each card carries a stable reference-name attribute you can cite):

  • profile-header / price-overview — company profile, live quote, market cap
  • extended-analysisthe core: three AI lens reads with findings, scores, and the analyst memo
  • future-predictions — our forward price-band predictions
  • market-narrative / ai-findings / gpt-critique — narrative context, cross-model findings, and an adversarial critique of our own analysis (near the end of the document)
  • Members-only sections (render as login gates for anonymous readers): price-history, income-trend, key-metrics, financials (statement tables), insider-trading. The analysis above is public; the raw data tables require a free account.

More for machine readers: site briefing at /llms.txt · any ticker resolves at delvantic.com/stock/TICKER · raw inputs are public-company filings and market data (via licensed data feeds); every model, score, lens read, and prediction on this page is Delvantic's own analysis.

FirstService Corporation

FSV NASDAQ GICS Category PDF
Real Estate · Real Estate Services
Toronto, ON M5R 2A9, Canada firstservice.com Updated Aug 11, 9:48am
Price
$141.66
Market Cap
$6.3B
Employees
30,000
Beta
0.91
Avg Volume
176,575
Last Dividend
$1.16
CEO
Mr. D. Scott Patterson

FirstService Corporation is a North American property services company operating through two primary platforms: FirstService Residential and FirstService Brands. Its core purpose is to deliver essential services that maintain, repair, and enhance residential communities and commercial properties. FirstService Residential manages thousands of private community associations and multifamily developments, providing administration, maintenance coordination, and amenity management at scale. FirstService Brands complements this with a portfolio of franchised and company-owned providers spanning restoration, painting, home organization, inspection, and flooring, serving both homeowners and businesses. The company focuses on recurring, contract-driven revenue and demand-resilient categories such as community management and property restoration, supporting steady cash generation and operational visibility. With the majority of revenue derived from the United States and the balance from Canada, FirstService Corporation plays a significant role in the real estate services ecosystem by consolidating specialized trades, standardizing service quality, and offering professional management to community associations and property owners across diverse geographies and asset types.

Runs with full report
Earnings Schedule
Checked daily · calendar updated Aug 11
No upcoming print on the calendar yet — companies typically confirm a few weeks ahead. Last print was Jul 23, 2026.
EPS surprise history — vs analyst consensus · 5 prints of vendor history
+1.7%
Oct '25
+3.8%
Feb '26
+40.0%
Mar '26
+6.7%
Apr '26
+1.2%
Jul '26
Print date EPS est. EPS actual Revenue est. Revenue actual
Jul 23, 2026 $1.73 $1.75 +1.2%
Apr 23, 2026 $0.89 $0.95 +6.7%
Mar 13, 2026 $0.05 $0.07 +40.0%
Feb 4, 2026 $1.32 $1.37 +3.8%
Oct 23, 2025 $1.73 $1.76 +1.7%

Green = beat the estimate, red = missed. An earnings print is the fastest way a thesis changes — our designations should be re-read after each one.

Recent SEC Filings
Filed Form Document
Jul 31, 2026 6-K View
Jul 23, 2026 6-K View
Jun 2, 2026 6-K View
May 15, 2026 SCHEDULE 13G View
May 6, 2026 6-K View
May 1, 2026 6-K View
Apr 23, 2026 6-K View
Apr 13, 2026 6-K View
Apr 1, 2026 6-K View
Mar 10, 2026 6-K View
Feb 20, 2026 40-F View
Feb 11, 2026 144 View

Filings link to the SEC’s EDGAR system. Annual/quarterly reports (10-K, 10-Q, 20-F) carry the full story; 8-K/6-K current reports are the fastest signal that something material happened.

Price Overview
Last updated: Aug 11, 2026 9:48am (just now)
Current data · timestamped when a report runs
$141.66
Change · Aug 11
-1.08 (-0.76%)
Day Range
$141.29 – $142.71
52-Week Range
$119.41 – $209.66
50-Day MA
$141.48
200-Day MA
$147.46
Volume
490.00
Share Structure
Outstanding 44,154,011.00
Float 39,413,013.00
Free Float 89.3%
High free float — 89.3% of shares trade freely, ~10.7% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Last updated: Aug 11, 2026 9:48am (just now)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Last updated: Aug 6, 2026 5:42am (5d ago)
Why there are no quarterly figures for FirstService Corporation

This company does not file structured financial statements with the U.S. SEC, so quarterly figures aren't available from our filings-based data engine. Annual figures shown here come from the sources that do cover it.

Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
TD Twelve Data statement HEX SEC filing
P/E Ratio (Price per dollar of earnings)
HEX
Stock Price / EPS (Diluted)
44.69
Stock Price: $141.66
EPS (Diluted): 3.17
P/B Ratio (Price vs net asset value)
HEX
Stock Price / Book Value Per Share
3.48
Stock Price: $141.66
Total Equity: $1.86B
Shares: 45,754,173
EV/EBITDA (Total value vs operating profit)
HEX
Enterprise Value / EBITDA
12.03
Market Cap: $6.27B
Total Debt: $0.00
Cash: $154.43M
EBITDA: $523.29M
Enterprise Value (Takeover price (cap + debt - cash))
HEX
Market Cap + Total Debt - Cash
$6.3B
Market Cap: $6.27B
Total Debt: $0.00
Cash: $154.43M
Gross Margin (Revenue left after direct costs)
HEX
Gross Profit / Revenue
33.6%
Gross Profit: $1.85B
Revenue: $5.50B
Operating Margin (Revenue left after all operations)
HEX
Operating Income / Revenue
6.1%
Operating Income: $338.08M
Revenue: $5.50B
Net Margin (Revenue left as actual profit)
HEX
Net Income / Revenue
3.5%
Net Income: $190.75M
Revenue: $5.50B
ROE (Profit from shareholder equity)
HEX
Net Income / Total Equity
10.2%
Net Income: $190.75M
Total Equity: $1.86B
ROIC (Profit from all invested capital)
HEX
NOPAT / Invested Capital
14.2%
Operating Income: $338.08M
Tax Rate: 28.4%
Equity: $1.86B
Total Debt: $0.00
Cash: $154.43M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
HEX
Current Assets / Current Liabilities
1.70
Current Assets: $1.50B
Current Liabilities: $882.15M
Debt/Equity (Leverage — debt vs equity)
HEX
Total Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $1.86B
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
HEX
Revenue / Shares Outstanding
$120.15
Revenue: $5.50B
Shares: 45,754,173
Book Value/Share (Net assets per share)
HEX
(Total Assets - Total Liabilities) / Shares
$40.70
Total Equity: $1.86B
Shares: 45,754,173
FCF/Share (Real cash generated per share)
HEX
(Operating Cash Flow + CapEx) / Shares
$6.96
Operating CF: $445.94M
CapEx: -$127.71M
Shares: 45,754,173
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
TD
Last Annual Dividend / Stock Price
0.8%
Last Dividend: $1.16
Stock Price: $141.66
Payout Ratio (Earnings paid out as dividends)
HEX
Dividends Paid / Net Income
25.6%
Dividends Paid: -$48.89M
Net Income: $190.75M
Income Statement (Annual)
Last updated: Aug 6, 2026 5:42am (5d ago)
Metric 2021 2022 2023 2024 2025
Revenue $3.2B $3.7B $4.3B $5.2B $5.5B
Cost of Revenue $2.2B $2.6B $2.9B $3.5B $3.7B
Gross Profit $1.0B $1.2B $1.4B $1.7B $1.8B
Operating Expenses $844.6M $961.1M $1.1B $1.4B $1.5B
Operating Income $201.6M $219.0M $244.9M $337.5M $338.1M
Net Income $156.1M $145.0M $147.0M $187.8M $190.7M
EBITDA $300.6M $329.2M $372.8M $502.8M $523.3M
EPS $3.08 $2.74 $2.25 $2.98 $3.19
EPS (Diluted) $3.05 $2.72 $2.24 $2.97 $3.17
Balance Sheet (Annual)
Last updated: Aug 6, 2026 5:42am (5d ago)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $165.7M $136.2M $187.6M $227.6M $154.4M
Total Current Assets $964.7M $1.1B $1.4B $1.6B $1.5B
Total Assets $2.5B $2.8B $3.6B $4.2B $4.3B
Current Liabilities $618.5M $637.0M $770.8M $850.8M $882.2M
Long-Term Debt
Total Liabilities $1.5B $1.6B $2.3B $2.6B $2.4B
Total Equity $1.0B $1.1B $1.4B $1.6B $1.9B
Retained Earnings
Cash Flow (Annual)
Last updated: Aug 6, 2026 5:42am (5d ago)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $167.3M $105.9M $280.4M $285.7M $445.9M
Capital Expenditure -$58.2M -$77.6M -$92.7M -$112.8M -$127.7M
Free Cash Flow $109.1M $28.3M $187.6M $172.9M $318.2M
Acquisitions (net) -$163.2M -$52.0M -$547.2M -$212.2M -$107.2M
Net Debt Issued / (Repaid)
Dividends Paid -$31.2M -$34.9M -$39.1M -$43.8M -$48.9M
Stock Buybacks
Net Change in Cash -$14.7M -$34.9M $47.5M $36.8M -$63.6M
Growth Trends (YoY %)
Last updated: Aug 6, 2026 5:42am (5d ago)
Metric 2022 2023 2024 2025
Revenue Growth +15.3% +15.7% +20.4% +5.4%
Gross Profit Growth +12.8% +17.6% +23.8% +7.5%
Operating Income Growth +8.6% +11.8% +37.8% +0.2%
Net Income Growth -7.1% +1.4% +27.7% +1.6%
EBITDA Growth +9.5% +13.3% +34.9% +4.1%
Dividend History (Last 20)
Last updated: Aug 11, 2026 9:48am (just now)
Date Dividend Declaration Record Payment
2026-06-30 $0.31
2026-03-31 $0.31
2025-12-31 $0.28
2025-09-30 $0.28
2025-06-30 $0.28
2025-03-31 $0.28
2024-12-31 $0.25
2024-09-30 $0.25
2024-06-28 $0.25
2024-03-27 $0.25
2023-12-28 $0.23
2023-09-28 $0.23
2023-06-29 $0.23
2023-03-30 $0.23
2022-12-29 $0.20
2022-09-29 $0.20
2022-06-29 $0.20
2022-03-30 $0.20
2021-12-30 $0.18
2021-09-29 $0.18
Industry Benchmarks
Compares FSV against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Narrative Economics
The story the market is telling about this stock — the intangible X-factor (founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for FSV — it's generated by the pipeline (market-narrative step).
Claude Reading
Claude Opus reviews the pipeline's raw data + every prior verdict, then writes an independent take.
No AI findings yet for FSV — they're generated by the pipeline (ai-findings step) when a report is run on this ticker.
GPT Reading
GPT reads the identical raw briefing blind — one of the Big-3 independent readings — and commits to its own verdict.
No GPT reading yet for FSV — it's generated by the pipeline (gpt-critique step) after the other Big-3 seats, when a report is run on this ticker.
Grok Reading
Grok (xAI) reads the identical raw briefing blind — one of the Big-3 independent readings — and commits to its own verdict.
No Grok reading yet for FSV — it's generated by the pipeline (grok-critique step) alongside the other Big-3 seats, when a report is run on this ticker.
Advanced Analysis Forensic deep-dive · four lenses
A separate, manually-run forensic pipeline (dilution, earnings quality, liquidity → two scored lenses → the play). Hasn't been run for this ticker yet.
Community AI Feedback
No community reviews yet for FSV. Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · twelvedata
v1.1.525 · a5aac093 · 2026-08-10 20:52:14