Company Valuation: FirstService Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 8,630 5,417 7,254 8,191 7,116 6,327 - -
Change - -37.23% 33.93% 12.91% -13.12% -11.09% - -
Enterprise Value (EV) 1 8,630 6,015 8,249 9,246 8,045 7,738 7,614 7,509
Change - -30.3% 37.14% 12.09% -13% -3.81% -1.6% -1.38%
P/E 64.4x 45x 72.6x 60.9x 49.1x 38.1x 32.3x 28.7x
PBR - 5.97x 7.09x 6.9x 5.18x 6.13x 5.5x 7.17x
PEG - -4.2x -4.1x 1.9x 7.29x 2x 1.8x 2.3x
Capitalization / Revenue 2.66x 1.45x 1.67x 1.57x 1.29x 1.1x 1.04x 1x
EV / Revenue 2.66x 1.61x 1.9x 1.77x 1.46x 1.35x 1.26x 1.19x
EV / EBITDA 26.4x 17.1x 19.8x 18x 14.3x 13.2x 12.1x 11.5x
EV / EBIT 42.8x 27.5x 33.7x 27.4x 23.8x 21.7x 18.8x 17.1x
EV / FCF 79.1x 213x 44x 53.5x 25.3x 25.6x 25.5x 20.1x
FCF Yield 1.26% 0.47% 2.27% 1.87% 3.96% 3.91% 3.92% 4.97%
Dividend per Share 2 - 0.81 0.9 1 1.1 1.222 1.408 1.565
Rate of return - 0.66% 0.55% 0.55% 0.71% 0.85% 0.98% 1.09%
EPS 2 3.05 2.72 2.24 2.97 3.17 3.777 4.459 5.023
Distribution rate - 29.8% 40.2% 33.7% 34.7% 32.4% 31.6% 31.2%
Net sales 1 3,249 3,746 4,335 5,217 5,498 5,730 6,063 6,306
EBITDA 1 327.4 351.7 415.7 513.7 562.8 587.5 627.3 655
EBIT 1 201.6 219 244.9 337.5 338.1 356 405.8 438.5
Net income 1 135.2 121.1 100.4 134.4 145 168.9 194.6 212.1
Net Debt 1 - 598.2 994.5 1,055 928.3 1,411 1,287 1,182
Reference price 2 196.45 122.51 162.54 180.97 155.68 144.06 144.06 144.06
Nbr of stocks (in thousands) 43,930 44,214 44,633 45,262 45,712 43,923 - -
Announcement Date 15/02/22 07/02/23 06/02/24 05/02/25 04/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
38.14x1.35x13.17x0.85% 632.73Cr
25.57x0.99x12.01x-.--% 4.29TCr
21.87x0.93x8.78x2.21% 1.95TCr
15.03x0.64x10.54x-.--% 1.67TCr
17.8x3.6x11.53x5.59% 1.16TCr
20.96x8.72x16.54x4.44% 1.05TCr
63.73x2.45x9.71x-.--% 757.42Cr
38.25x1.15x8.79x0.3% 520Cr
30.64x12.12x - 1.89% 422.61Cr
12.39x0.46x7.05x-.--% 324.61Cr
Average 28.44x 3.24x 10.90x 1.53% 1.28TCr
Weighted average by Cap. 25.78x 2.27x 11.29x 1.33%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  3. FSV Stock
  4. Valuation FirstService Corporation