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FSV · CIK 0001637810

FirstService Corporation

Annual figures as reported, FY2014–FY2025. Ratios and growth rates derived on-page.

FSV logo
Real Estate
Company profile
Nasdaq · FSVHQ Toronto, Ontario, CanadaIncorporated in A6Fiscal year ends Dec 31Smaller reporting company
Revenue
$5.5B
▲ +5.4% vs FY2024
Net income
$190.7M
▲ +1.6% vs FY2024
Free cash flow
$318.2M
▲ +84.1% vs FY2024
Diluted EPS
$3.17
▲ +6.7% vs FY2024

Revenue

Annual, as reported

02B4B’14’16’18’20’22’24’25$5.5B

Net income

Losses shown in terracotta

−200M0’14’16’18’20’22’24’25$190.7M

Profitability & returns

quality of earnings

Margins

Share of revenue kept at each line

-5%0%5%’14’16’18’20’22’24
Operating marginNet margin

Returns on capital

Net income vs year-end equity and assets

-50%-25%0%25%’14’16’18’20’22’24
Return on equityReturn on assets

Cash flow

cash generation

Free cash flow

Operating cash flow less capital expenditure

0100M200M300M’14’16’18’20’22’24’25$318.2M

Operating cash flow

Net cash from operations

0200M400M’14’16’18’20’22’24’25$445.9M

Shareholder returns

capital allocation

Capital returned

Cash paid out as dividends and share repurchases

020M40M’15’17’19’21’23’25
Dividends paid

Diluted shares outstanding

Falling count means buybacks outpace dilution

020M40M’14’16’18’20’22’24’2546M

Balance sheet

financial position

Stockholders’ equity

At fiscal year end

0500M1B’14’16’18’20’22’24’25$1.4B

Growth rates

compounding, annualized
Revenue CAGR
+13.6%
3y
+14.7%
5y
+15.8%
10y
Net income CAGR
+9.6%
3y
+11.7%
5y
+24.5%
10y
Diluted EPS CAGR
+5.2%
3y
+9.4%
5y
+18.3%
10y
Free cash flow CAGR
+124.1%
3y
+4.7%
5y
+16.8%
10y
Share count change (split-adjusted)
+6.0%
5y
+25.6%
10y

Key ratios

derived per fiscal year
Fiscal yearOp. marginNet marginFCF marginROEROACurrent ratio
FY20256.1%3.5%5.8%13.9%4.5%1.70×
FY20246.5%3.6%3.3%15.8%4.5%1.83×
FY20235.6%3.4%4.3%14.4%4.1%1.77×
FY20225.8%3.9%0.8%16.0%5.2%1.74×
FY20216.2%4.8%3.4%19.5%6.2%1.56×
FY20206.1%4.0%9.1%16.6%5.0%1.51×
FY2019−7.2%−9.5%2.5%−53.4%−11.6%1.87×
FY20186.6%4.7%3.0%38.2%9.0%1.83×
FY20176.2%3.1%4.7%27.6%6.3%1.53×
FY20166.1%2.3%5.4%19.6%4.4%1.73×
FY20155.6%1.7%5.3%12.8%3.6%1.77×
FY20144.0%1.1%2.0%8.2%2.1%1.99×

Annual figures

as reported
Fiscal yearRevenueGross profitOp. incomeNet incomeDiluted EPSOp. cash flowCapexTotal assetsLiabilitiesEquityCashLT debt
FY2025$5.5B—$338.1M$190.7M$3.17$445.9M$127.7M$4.3B$2.9B$1.4B$154.4M—
FY2024$5.2B—$337.5M$187.8M$2.97$285.7M$112.8M$4.2B$3.0B$1.2B$227.6M—
FY2023$4.3B—$244.9M$147.0M$2.24$280.4M$92.7M$3.6B$2.6B$1.0B$187.6M—
FY2022$3.7B—$219.0M$145.0M$2.72$105.9M$77.6M$2.8B$1.9B$907.5M$136.2M—
FY2021$3.2B—$201.6M$156.1M$3.05$167.3M$58.2M$2.5B$1.7B$799.7M$165.7M—
FY2020$2.8B—$169.4M$109.6M$2.02$291.8M$39.4M$2.2B$1.5B$660.4M$184.3M—
FY2019$2.4B—−$174.4M−$227.6M−$6.58$107.8M$46.6M$2.0B$1.5B$425.9M$121.2M—
FY2018$1.9B—$127.6M$90.3M$1.80$99.5M$40.6M$1.0B$771.2M$236.2M$66.3M—
FY2017$1.7B—$105.0M$53.1M$1.41$115.6M$36.3M$848.3M$656.0M$192.3M$57.2M—
FY2016$1.5B—$90.5M$33.6M$0.92$109.0M$29.1M$771.0M$599.3M$171.7M$43.4M—
FY2015$1.3B—$70.7M$21.4M$0.59$87.1M$19.7M$600.5M$433.5M$167.0M$45.6M—
FY2014$1.1B—$45.6M$13.0M$0.36$45.2M$22.4M$615.5M$456.8M$158.7M$66.8M—

Latest filings

the most recent regulatory filings
6-KForeign issuer report2026-06-02 ↗SCHEDULE 13GSEC filing2026-05-15 ↗6-KForeign issuer report2026-05-06 ↗6-KForeign issuer report2026-05-01 ↗6-KForeign issuer report2026-04-23 ↗6-KForeign issuer report2026-04-13 ↗6-KForeign issuer report2026-04-01 ↗6-KForeign issuer report2026-03-10 ↗40-FAnnual report (foreign issuer)2026-02-20 ↗144Notice of proposed insider sale2026-02-11 ↗

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