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FirstService Corp

FirstService Corp is a Canadian real estate company, incorporated in Ontario, listed on Nasdaq (FSV).1 It is headquartered in Toronto, Canada.1

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Last updated Oct 21, 2026.

Overview

$5.5BRevenue, fiscal 20252
$190.7MNet income, fiscal 20252

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  • TickerFSV on Nasdaq1
  • IndustryReal Estate1
  • HeadquartersToronto, Canada1
  • Incorporated inOntario, Canada3
  • Business address1255 Bay Street, Suite 600, Toronto, A6 M5R 2A93
  • Filer categorySmaller reporting company3

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

6.1%Operating margin2
3.5%Net margin2
5.4%Revenue growth, 20252
13.9%Return on equity2
$318.2MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

FirstService Brands brought in 58% of the revenue FirstService Corp broke down this way in fiscal 2025.

  1. FirstService Brands$3.2B258%up 4% from 2024
  2. FirstService Residential$2.3B242%up 7% from 2024
Business segments by year
Business segments20242025
FirstService Brands$3.1B$3.2B
FirstService Residential$2.1B$2.3B

Regions

United States brought in 90% of the revenue FirstService Corp broke down this way in fiscal 2025.

  1. United States$4.9B290%up 8% from 2024
  2. Canada$569.4M210%down 12% from 2024
Regions by year
Regions20242025
United States$4.6B$4.9B
Canada$650.8M$569.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin24¢$1.3B
  • Other costs71¢$3.9B
  • Income tax1¢$75.8M
  • Profit3¢$190.7M

Out of $5.5B in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Capital spending29¢$127.7M
  • Dividends paid11¢$48.9M
  • Kept or used elsewhere60¢$269.4M

Out of $445.9M of cash from operations.2

Financial statements

Revenue4567892$5.5B in 2025+185% since 2018
0$2.0B$4.0B$6.0B2018: $1.9B$1.9B20182019: $2.4B$2.4B2019+25%2020: $2.8B$2.8B2020+15%2021: $3.2B$3.2B2021+17%2022: $3.7B$3.7B2022+15%2023: $4.3B$4.3B2023+16%2024: $5.2B$5.2B2024+20%2025: $5.5B$5.5B2025+5%
Operating income4567892$338.1M in 2025+165% since 2018
-$200.0M0$200.0M$400.0M2018: $127.6M$127.6M20182019: -$174.4M-$174.4M20192020: $169.4M$169.4M20202021: $201.6M$201.6M2021+19%2022: $219.0M$219.0M2022+9%2023: $244.9M$244.9M2023+12%2024: $337.5M$337.5M2024+38%2025: $338.1M$338.1M2025+0%
Net income4567892$190.7M in 2025+111% since 2018
-$400.0M-$200.0M0$200.0M2018: $90.3M$90.3M20182019: -$227.6M-$227.6M20192020: $109.6M$109.6M20202021: $156.1M$156.1M2021+42%2022: $145.0M$145.0M2022−7%2023: $147.0M$147.0M2023+1%2024: $187.8M$187.8M2024+28%2025: $190.7M$190.7M2025+2%

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2025-12-312024-12-31
Revenues (note 3)$5.5B$5.2B
Cost of revenues (exclusive of depreciation and amortization shown below)$3.7B$3.5B
Selling, general and administrative expenses$1.3B$1.2B
Depreciation$108.0M$92.9M
Amortization of intangible assets$77.2M$72.4M
Acquisition-related items (note 4)$12.1M-$14.4M
Operating earnings$338.1M$337.5M
Interest expense, net$73.7M$82.9M
Other income, net (note 6)-$2.1M-$3.2M
Earnings before income tax$266.5M$257.9M
Income tax (note 14)$75.8M$70.1M
Net earnings$190.7M$187.8M
Non-controlling interest share of earnings (note 11)$15.9M$15.6M
Non-controlling interest redemption increment (note 11)$29.8M$37.8M
Net earnings attributable to Company$145.0M$134.4M
Basic (in dollars per share)$3.19$2.98
Diluted (in dollars per share)$3.17$2.97

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Corporate structure

FirstService Corp sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of FirstService Corp

  • FirstService Corp Toronto, Canada

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What FirstService Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$790.9M2 Dec 31, 2025$697.0M2 Dec 31, 2024+13.5%
Accumulated depreciation$501.2M2 Dec 31, 2025$443.0M2 Dec 31, 2024+13.1%
Property and equipment, net$289.7M2 Dec 31, 2025$254.0M2 Dec 31, 2024+14.1%
Finance-lease assets$34.4M2 Dec 31, 2025$30.7M2 Dec 31, 2024+12.2%
Operating-lease assets (leased space)$269.6M2 Dec 31, 2025$240.5M2 Dec 31, 2024+12.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$154.4M2 Dec 31, 2025$227.6M2 Dec 31, 2024−32.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$1.5B2 Dec 31, 2025$1.4B2 Dec 31, 2024+7.6%
Intangible assets, net (excluding goodwill)$684.7M2 Dec 31, 2025$715.5M2 Dec 31, 2024−4.3%
Finite-lived intangibles, gross$1.2B2 Dec 31, 2025$1.1B2 Dec 31, 2024+3.7%
Accumulated amortization$484.5M2 Dec 31, 2025$412.3M2 Dec 31, 2024+17.5%
Finite-lived intangibles, net$684.7M2 Dec 31, 2025$715.5M2 Dec 31, 2024−4.3%

Inventory

ItemLatestA year beforeChange
Inventory, total$274.2M2 Dec 31, 2025$279.6M2 Dec 31, 2024−1.9%
Work in process$199.7M2 Dec 31, 2025$213.8M2 Dec 31, 2024−6.6%
Finished goods$30.3M2 Dec 31, 2025$20.5M2 Dec 31, 2024+47.4%

Former names

  • New FSV CorpMar 27, 2015 to May 29, 20153

Calendar

Coming up

  1. Oct 22, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $1.63 a share, on Oct 23, 2025.10

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

99 filings to the SEC since October 2021: 6 annual reports, 12 large holders, 81 other. The latest 20:

  1. Sep 17, 20266-K EDGAR
  2. Aug 20, 20266-K EDGAR
  3. Aug 14, 2026SCHEDULE 13G/A EDGAR
  4. Jul 31, 20266-K EDGAR
  5. Jul 23, 20266-K EDGAR
  6. Jun 2, 20266-K EDGAR
  7. May 15, 2026SCHEDULE 13G EDGAR
  8. May 6, 20266-K EDGAR
  9. May 1, 20266-K EDGAR
  10. Apr 23, 20266-K EDGAR
  11. Apr 13, 20266-K EDGAR
  12. Apr 1, 20266-K EDGAR
  13. Mar 10, 20266-K EDGAR
  14. Feb 20, 202640-F EDGAR
  15. Feb 11, 2026144 EDGAR
  16. Feb 4, 20266-K EDGAR
  17. Feb 3, 20266-K EDGAR
  18. Dec 4, 20256-K EDGAR
  19. Oct 31, 20256-K EDGAR
  20. Oct 23, 20256-K EDGAR

The 99 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Orbis Allan Gray Ltd4,044,289$574.7M2.0%+76,062
Manufacturers Life Insurance Company, The2,062,192$292.7M0.2%+148,786
1832 Asset Management L.P.1,684,460$239.4M0.3%+1,266,414
Jupiter Topco LLC1,680,486$238.8M0.1%New
Vanguard Capital Management LLC1,216,657$173.0M0.0%+20,209
Conestoga Capital Advisors, LLC1,216,997$172.9M3.8%−188,567
Neuberger Berman Group LLC1,177,427$167.3M0.1%−21,446
Mackenzie Financial Corp756,199$152.5M0.2%−715,093
Morgan Stanley873,026$124.1M0.0%+261,473
CIBC Asset Management Inc861,424$122.4M0.3%+139,550
Geode Capital Management, LLC652,324$100.9M0.0%+60,609
Royal Bank Of Canada643,344$91.4M0.0%+69,923
Norges Bank549,665$78.1M0.0%New
TD Asset Management Inc522,479$74.3M0.1%+46,212
Bank Of Montreal /can/521,638$74.1M0.0%+44,188
BCV Asset Management Inc.506,534$72.0M2.2%+2,419
Royce & Associates LP466,428$66.3M0.5%+9,786
Renaissance Technologies LLC430,840$61.2M0.1%−59,600
Geneva Capital Management LLC415,689$59.1M1.4%−111,883
Cibc World Market Inc.399,267$56.7M0.1%−60,019
Brown Advisory Inc386,877$55.0M0.1%−12,304
Vanguard Fiduciary Trust Co366,841$52.2M0.0%+6,330
Copeland Capital Management, LLC348,416$49.5M1.0%−20,127
Clearbridge Investments, LLC344,696$49.0M0.0%+54,844
Vanguard Global Advisers, LLC333,870$47.5M0.0%+12,798

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

12 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Aug 19, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−8.2%Report
Jun 11, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−9.1%Report
May 11, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−1.6%Report
May 7, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−5.0%Report
May 1, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−5.0%Report
Apr 24, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−15.8%Report
Mar 27, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−21.1%Report
Mar 18, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−20.8%Report
Feb 17, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−25.5%Report
Feb 13, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−25.9%Report
Feb 10, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−28.0%Report
Feb 10, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$15,001 - $50,000−28.0%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How FirstService Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFirstService Corp1
  • CIK0001637810
  • Filer statusSmaller reporting company not an emerging growth company1
  • Incorporated inOntario16
  • Fiscal year endsDecember 311
  • Industry code (SIC)6500 Real Estate1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business address1255 Bay Street, Suite 600, Toronto, A6 M5R 2A91
  • Phone(416) 960-95661
  • Shares outstanding45,722,486 as of Dec 31, 20252
  • AuditorPricewaterhouseCoopers LLP PCAOB ID 271; it also attests to the company’s internal control over financial reporting16
  • On EDGAR sinceMar 27, 20151
  • Filings247 in all: 6-K (194), 40-F (11), SC 13G/A (11), SC 13G (6), F-10/A (3), F-X (3), SCHEDULE 13G/A (3), F-10 (2)1
    All 20 form types

    SCHEDULE 13G (2), UPLOAD (2), 144 (1), 40-F/A (1), 40FR12B (1), CERTNAS (1), CORRESP (1), EFFECT (1), FWP (1), SC 13D (1), SC 13D/A (1), SUPPL (1)

  • Latest filingsAnnual report (40-F) Feb 20, 2026

Securities registered for trading

ClassSymbolExchange
Common SharesFSVNASDAQ

From the cover page of the 40-F filed Feb 20, 2026 (Section 12(b) of the Exchange Act).16

Sources

The numbers on this page point here. Each one links to the record it came from.

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