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FirstService Corp (FSV)
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Upturn Advisory Summary
01/09/2026: FSV (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
9 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $208.29
1 Year Target Price $208.29
| 3 | Strong Buy |
| 3 | Buy |
| 3 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 28.72% | Avg. Invested days 66 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  4.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 01/09/2026 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 7.16B USD | Price to earnings Ratio 51.58 | 1Y Target Price 208.29 |
Price to earnings Ratio 51.58 | 1Y Target Price 208.29 | ||
Volume (30-day avg) 9 | Beta 0.96 | 52 Weeks Range 146.97 - 208.99 | Updated Date 01/9/2026 |
52 Weeks Range 146.97 - 208.99 | Updated Date 01/9/2026 | ||
Dividends yield (FY) 0.70% | Basic EPS (TTM) 3.03 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 2.53% | Operating Margin (TTM) 7.71% |
Management Effectiveness
Return on Assets (TTM) 5.18% | Return on Equity (TTM) 11.25% |
Valuation
Trailing PE 51.58 | Forward PE 25.32 | Enterprise Value 8436814981 | Price to Sales(TTM) 1.31 |
Enterprise Value 8436814981 | Price to Sales(TTM) 1.31 | ||
Enterprise Value to Revenue 1.54 | Enterprise Value to EBITDA 15.94 | Shares Outstanding 45712236 | Shares Floating 41752185 |
Shares Outstanding 45712236 | Shares Floating 41752185 | ||
Percent Insiders 8.8 | Percent Institutions 78.49 |
Upturn AI SWOT
FirstService Corp
Company Overview
History and Background
FirstService Corp. was founded in 1972 and has since grown into a leading provider of essential property services. Initially focused on residential property management, the company has strategically expanded through organic growth and acquisitions to encompass a broader range of services for both residential and commercial clients. Key milestones include its IPO in 2015 and significant acquisitions that have broadened its service offerings and geographic reach.
Core Business Areas
- Residential Property Management: Provides comprehensive property management services for condominium and homeowner associations, including financial management, governance support, maintenance, and security. Key brands include Associa, C.I.M. Group (through an affiliate), and Preferred Residential.
- Commercial Property Services: Offers a suite of services for commercial real estate, including property management, janitorial, and landscaping. Brands include FirstService Residential, FirstService Commercial, and GCA Services Group (part of Service Experts).
- Residential Home Services: Provides a range of home services for homeowners, including plumbing, heating, ventilation, air conditioning (HVAC), and electrical services. Service Experts is a leading brand in this segment.
Leadership and Structure
FirstService Corp. is led by a seasoned management team, with Arthur M. (Art) Wiener serving as Chairman of the Board and Scott J. Patterson as President and CEO. The company operates through its distinct brands and business segments, maintaining a decentralized operational model that allows individual businesses to focus on their specific markets and customer needs while benefiting from the financial strength and strategic guidance of the parent company.
Top Products and Market Share
Key Offerings
- Residential Property Management Services: Provides end-to-end property management solutions for HOAs and Condominiums. This includes financial administration, community management, maintenance coordination, and technology solutions. The company manages a vast portfolio of properties across North America. Competitors include Associa (also a FirstService company), FirstService Residential, and numerous regional and local property management firms.
- Commercial Property Management and Maintenance Services: Offers integrated property management, janitorial, and landscaping services for commercial properties. The company aims to enhance property value and operational efficiency for commercial clients. Competitors include JLL, CBRE, Cushman & Wakefield, and various specialized service providers.
- Residential Home Services (HVAC, Plumbing, Electrical): Delivers essential home repair and maintenance services, including HVAC installation and repair, plumbing services, and electrical work. Service Experts is a prominent brand in this segment. Competitors include HomeServe, Neighborly (through its various brands like Mr. Rooter, Aire Serv), and numerous local HVAC and plumbing contractors.
Market Dynamics
Industry Overview
FirstService Corp. operates in the essential property services sector, which includes property management and home services. The property management industry is driven by the increasing complexity of property ownership and the demand for professional management services for both residential and commercial properties. The home services sector benefits from the ongoing need for home maintenance and repair, driven by an aging housing stock and a desire for comfort and efficiency. Both sectors are generally resilient, with demand tied to property ownership and household needs.
Positioning
FirstService Corp. is a leading provider of essential property services with a strong emphasis on fragmented markets where scale and brand reputation are significant advantages. Its decentralized model allows for specialized focus within each segment, while its acquisitions strategy enhances its market position and service breadth. The company benefits from recurring revenue streams through its management contracts and service agreements, providing a degree of stability.
Total Addressable Market (TAM)
The TAM for property management and home services is substantial and growing. For residential property management, the TAM is in the tens of billions of dollars, driven by the millions of HOAs and condominium associations in North America. The home services market (HVAC, plumbing, electrical) is also in the tens of billions of dollars annually in the US alone. FirstService Corp. is well-positioned to capture a significant portion of this TAM through its established brands, extensive service networks, and ongoing acquisition strategy.
Upturn SWOT Analysis
Strengths
- Strong brand recognition across its various service segments.
- Diversified revenue streams from property management and home services.
- Scalable business model supported by a decentralized operational approach.
- Proven track record of successful acquisitions to drive growth.
- Recurring revenue from long-term service contracts and management agreements.
Weaknesses
- Reliance on acquisitions for a significant portion of growth.
- Potential integration challenges with acquired companies.
- Competition from numerous smaller, local service providers.
- Sensitivity to economic downturns impacting consumer discretionary spending on home services.
Opportunities
- Continued consolidation opportunities within the fragmented property services and home services markets.
- Expansion of service offerings to existing customer bases.
- Leveraging technology to enhance service delivery and customer experience.
- Geographic expansion into new markets.
- Increasing demand for outsourced property management services.
Threats
- Intensified competition from both established players and new entrants.
- Rising labor costs and potential skilled labor shortages.
- Changes in regulatory environments affecting property management.
- Economic recessions impacting housing markets and consumer spending.
- Disruption from new technologies or service models.
Competitors and Market Share
Key Competitors
- Associa
- FirstService Residential
- Service Experts
- CBRE Group, Inc. (CBRE)
- Jones Lang LaSalle Incorporated (JLL)
Competitive Landscape
FirstService Corp. holds a significant position in the fragmented property services and home services markets. Its competitive advantages lie in its scale, diversified service offerings, strong brand recognition, and successful acquisition integration capabilities. However, it faces intense competition from both large, diversified real estate service firms and a multitude of smaller, specialized local providers. Its ability to maintain strong customer relationships and efficiently integrate acquisitions is critical to its continued success.
Major Acquisitions
Vivent Energy Solutions
- Year: 2023
- Acquisition Price (USD millions):
- Strategic Rationale: Acquisition aimed at expanding its home services offerings in the HVAC and energy efficiency space, complementing existing Service Experts business.
Property Systems Inc. (PSI)
- Year: 2023
- Acquisition Price (USD millions):
- Strategic Rationale: Acquisition of a leading provider of cloud-based property management software, enhancing its technology capabilities and service offerings for the residential property management segment.
Mill Creek Residential Trust
- Year: 2022
- Acquisition Price (USD millions): 1300
- Strategic Rationale: Acquisition of a large multifamily residential property management company, significantly expanding its footprint and capabilities in the multifamily sector.
Growth Trajectory and Initiatives
Historical Growth: FirstService Corp. has a consistent history of growth, fueled by a dual strategy of organic expansion and strategic acquisitions. Its ability to identify and integrate target companies has been a key driver of its increasing revenue and market presence in both property management and home services.
Future Projections: Analyst projections for FirstService Corp. generally anticipate continued growth, driven by ongoing market consolidation, expansion of service offerings, and the resilient demand for its essential services. Future growth will likely be a blend of organic contributions and further accretive acquisitions. Specific EPS and revenue growth forecasts are available through financial research platforms.
Recent Initiatives: Recent initiatives likely focus on optimizing the integration of acquired businesses, enhancing service delivery through technology, and exploring opportunities for cross-selling services to its existing customer base. The company also continues to refine its operational efficiencies to support margin expansion.
Summary
FirstService Corp. is a strong player in the essential property services sector, demonstrating consistent growth through a robust acquisition strategy and organic expansion. Its diversified business model, encompassing residential property management, commercial property services, and home services, provides resilience. The company's primary strengths lie in its scale, brand recognition, and recurring revenue streams. While facing competition and potential integration challenges, its strategic focus on fragmented, essential markets positions it well for continued success.
Similar Stocks
Sources and Disclaimers
Data Sources:
- FirstService Corp. Investor Relations
- Financial News Outlets (e.g., Wall Street Journal, Bloomberg)
- Industry Analysis Reports
- SEC Filings (10-K, 10-Q)
Disclaimers:
This analysis is based on publicly available information and aims to provide a structured overview of FirstService Corp. Financial data and market share figures are estimates and subject to change. This information should not be considered financial advice, and investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About FirstService Corp
Exchange NASDAQ | Headquaters Toronto, ON, Canada | ||
IPO Launch date 2015-06-02 | President, CEO & Non-Independent Director Mr. D. Scott Patterson | ||
Sector Real Estate | Industry Real Estate Services | Full time employees 30000 | Website https://www.firstservice.com |
Full time employees 30000 | Website https://www.firstservice.com | ||
FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The company offers 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. It also provides ancillary services, including on-site staffing for building engineering and maintenance, full-service amenity management, and security and concierge/front desk; and financial services comprising cash management, other banking transaction-related, and specialized property insurance brokerage. In addition, the company offers energy management solutions and advisory services, and resale processing services. Further, it provides light restoration, painting, and decoration work services; water, fire, mold cleanup, construction rebuild, and restoration services for property damaged by natural or man-made disasters; custom-designed and installed closet and home storage solutions; home inspection services; and floor coverings design and installation franchise system operating. It operates and provides essential property services to residential and commercial customers through franchise networks, including California Closets, Paul Davis Restoration, Pillar to Post Home Inspectors, Floor Coverings International, and CertaPro Painters operations under the Paul Davis Restoration, Roofing Corp of America, First Onsite property Restoration, Century Fire Protection, CertaPro Painters, California Closets, Pillar to Post Home Inspectors, and Floor Coverings International brands. FirstService Corporation was incorporated in 1988 and is headquartered in Toronto, Canada.
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