Who are FirstService's main competitors?

Named competitors: Associa (private or unlisted), Neighborly (private or unlisted), Cushman & Wakefield (CWK), CBRE (CBRE), Colliers International (CIGI.TO), Jones Lang LaSalle (JLL). The cockpit's measured peer set (industry) also includes Fastighets AB Balder (BALD-B.ST), NEPI Rockcastle (NRP.AS), Oberoi Realty (OBEROIRLTY.NS), Cpi Property (O5G.DE), AB Sagax (SAGA-A.ST), Castellum (CAST.ST).

Is FirstService expensive compared with its peers?

On forward p/e it trades at 23.6× against a peer median of 14.8×, 5th most expensive of 17 in its peer set.

How has FirstService stock performed?

Over six months to 6 Nov 2026 the shares returned +17.8% against -5.2% for the median peer; over one year -1.2%.

← CockpitCompetitor Analysis › FSV.TO FirstService CorpOpen in the cockpit ↗

FirstService CorpFSV.TOCompetitor analysis, valuation and peers

Canada · CAD·Real Estate›Real Estate Development

North American property manager and franchisor of residential community management and home-services brands.

Momentum leader 88

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$6.46B

US dollars, full cap

Free float

91%

of shares outstanding

$/day

$16.6M

20-day average traded

Fwd P/E

23.6×

forward earnings

ROIC−WACC

n/a

WACC 7.2%

Hurdle

n/a

no reverse DCF

Next earnings

95 days

9 Feb 2027

Close · CADC$216.08

1D+0.5%

1W+6.8%

1M+19.4%

3M+7.6%

6M+17.8%

YTD+1.2%

1Y-1.2%

ATR %2.9%

52w lowhigh5.2% off high

What FirstService does

North American property manager and franchisor of residential community management and home-services brands.

Earns recurring management fees from community associations and condo boards, usually under multi-year contracts, which gives steady income. The Brands side mixes company-owned restoration work, paid largely by insurers, with franchise royalties. It split from Colliers in 2015 and grows partly by buying small local operators.

Products and services

FirstService Residential (HOA/condo management)
FirstService Brands (franchised restoration, painting)
First Onsite (restoration)

Customers

Homeowner associations/condo boards
Homeowners via franchise brands

Where it sits in the supply chain

Real Estate
Property services
Residential management & franchised…

What could go right

Franchise unit growth
Roll-up acquisitions in fragmented home services

What could go wrong

Housing market slowdown
Labor cost inflation in services

Moat: narrow (scale, brand, network effects). Largest North American residential property manager plus a portfolio of franchise home-service brands.

Headquarters: Toronto, Canada · Founded: 1989 · Employees: 31,000

Named competitors

Associa private or unlisted
Neighborly private or unlisted
Cushman & Wakefield CWK
CBRE CBRE
Colliers International CIGI.TO
Jones Lang LaSalle JLL

FirstService at a glance

Size FirstService (FSV.TO) is a Canada Real Estate company (Real Estate Development) with a market value of $6.46B, the 102nd largest of 420 Canada companies the cockpit tracks. Shares closed at C$216.08 on 6 Nov 2026.

Performance Over six months the shares gained 17.8%, against -5.2% for the median peer and +5.2% for the Canada market (cap-weighted) — 2nd highest of 21 in its peer set.

Growth Revenue grew 3.0% over the last twelve months (peer median +9.1%); the operating margin is 6.1% (peer median 37.4%).

Valuation It trades at 23.6× forward earnings against a peer median of 14.8× (5th most expensive of 17).

Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: FirstService against the median of its 20 peers (local-currency closes).

FirstService financials

Reported figures in CAD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	C$7.89B	C$7.68B	C$7.15B	C$5.85B	C$4.88B
Revenue growth	—	+7%	+22%	+20%	—
Gross profit	C$2.33B	C$2.32B	C$2.13B	C$1.70B	C$1.39B
EBITDA	C$756M	C$748M	C$669M	C$532M	C$434M
Net income	C$205M	C$203M	C$184M	C$135M	C$158M
Free cash flow	C$421M	C$445M	C$237M	C$253M	C$33.6M
Capital expenditure	C$168M	C$178M	C$155M	C$125M	C$101M
Total debt	C$2.64B	C$1.90B	C$2.25B	C$1.87B	C$1.29B

Quarterly statements and history in the cockpit →

FirstService competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. FirstService is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. FirstService is the large dot.

FirstService competitors and peer comparison

Head to head with its named competitors (FSV.TO vs CWK vs CBRE vs CIGI.TO)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
FirstService FSV.TO	$6.46B	+18%	+3%	6%	23.6×	n/a
Cushman & Wakefield CWK	$3.28B	-2%	+10%	4%	8.8×	n/a
CBRE CBRE	$39.1B	-7%	+14%	3%	16.3×	n/a
Colliers International CIGI.TO	$4.88B	-5%	+14%	7%	11.8×	n/a
Jones Lang LaSalle JLL	$16.9B	+12%	+11%	5%	13.4×	n/a

How FirstService compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

FirstService against its 20 peers (data as of 6 Nov 2026)
Measure	FSV.TO	Peer median	Rank in peer set
1-month return	+19.4%	+5.6%	2nd highest of 21
6-month return	+17.8%	-5.2%	2nd highest of 21
Distance from 52-week high	-5.2%	-23.2%	4th highest of 21
Revenue growth (TTM)	+3.0%	+9.1%	7th lowest of 21
Operating margin	6.1%	37.4%	3rd lowest of 21
Forward P/E	23.6×	14.8×	5th most expensive of 17

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
FirstService FSV.TO	Canada	$6.46B	+18%	+3%	6%	23.6×	n/a	n/a
Fastighets AB Balder BALD-B.ST	Sweden	$6.43B	-2%	+4%	66%	12.2×	n/a	n/a
NEPI Rockcastle NRP.AS	Netherlands	$6.34B	+9%	+20%	62%	12.1×	n/a	n/a
Oberoi Realty OBEROIRLTY.NS	India	$6.66B	+4%	+16%	57%	20.0×	n/a	n/a
Cpi Property O5G.DE	Germany	$6.85B	-1%	-8%	41%	n/a	n/a	n/a
AB Sagax SAGA-A.ST	Sweden	$6.96B	+5%	+5%	78%	15.7×	n/a	n/a
Castellum CAST.ST	Sweden	$5.94B	+10%	-3%	67%	16.1×	n/a	n/a
Deutsche Wohnen DWNI.DE	Germany	$7.05B	-20%	0%	48%	11.0×	n/a	n/a
Daito Trust Construction 1878.T	Japan	$7.10B	-7%	+6%	7%	9.7×	n/a	n/a
Godrej Properties GODREJPROP.NS	India	$5.77B	-4%	+17%	21%	24.5×	n/a	n/a
Shanghai Zhangjiang Hi-Tech Park Development 600895.SS	China	$5.71B	-33%	+89%	26%	36.4×	n/a	n/a
Tokyu Fudosan Holdings Corporat 3289.T	Japan	$5.69B	-7%	+6%	14%	8.6×	n/a	n/a
Prestige Estates Projects PRESTIGE.NS	India	$7.42B	+10%	+66%	24%	38.5×	n/a	n/a
Ctp CTPNV.AS	Netherlands	$7.43B	-18%	+12%	67%	13.0×	n/a	n/a
China Vanke 000002.SZ	China	$5.36B	-17%	-32%	-24%	n/a	n/a	n/a
Compass COMP	United States	$7.84B	+17%	+68%	0%	n/a	n/a	n/a
Wharf (Holdings) 0004.HK	Hong Kong	$7.92B	-32%	-1%	41%	15.7×	n/a	n/a
Tsim Sha Tsui Properties 0247.HK	Hong Kong	$5.24B	-20%	+15%	34%	n/a	n/a	n/a
UOL U14.SI	Singapore	$5.23B	-23%	+2%	25%	13.8×	n/a	n/a
Nomura Real Estate 3231.T	Japan	$5.17B	-12%	+19%	14%	8.8×	n/a	n/a
Phoenix Mills PHOENIXLTD.NS	India	$8.13B	+18%	+13%	52%	52.0×	n/a	n/a

Questions

Who are FirstService's main competitors?: Named competitors: Associa (private or unlisted), Neighborly (private or unlisted), Cushman & Wakefield (CWK), CBRE (CBRE), Colliers International (CIGI.TO), Jones Lang LaSalle (JLL). The cockpit's measured peer set (industry) also includes Fastighets AB Balder (BALD-B.ST), NEPI Rockcastle (NRP.AS), Oberoi Realty (OBEROIRLTY.NS), Cpi Property (O5G.DE), AB Sagax (SAGA-A.ST), Castellum (CAST.ST).
Is FirstService expensive compared with its peers?: On forward p/e it trades at 23.6× against a peer median of 14.8×, 5th most expensive of 17 in its peer set.
How has FirstService stock performed?: Over six months to 6 Nov 2026 the shares returned +17.8% against -5.2% for the median peer; over one year -1.2%.