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 6,020 - -
Change - -37.23% 33.93% 12.91% -13.12% -15.41% - -
Enterprise Value (EV) 1 8,630 6,015 8,249 9,246 8,045 7,431 7,307 7,202
Change - -30.3% 37.14% 12.09% -13% -7.63% -1.67% -1.44%
P/E 64.4x 45x 72.6x 60.9x 49.1x 35.5x 28.5x 26.1x
PBR - 5.97x 7.09x 6.9x 5.18x 5.57x 5x 6.51x
PEG - -4.2x -4.1x 1.9x 7.29x 2.2x 1.2x 2.81x
Capitalization / Revenue 2.66x 1.45x 1.67x 1.57x 1.29x 1.05x 0.99x 0.95x
EV / Revenue 2.66x 1.61x 1.9x 1.77x 1.46x 1.3x 1.2x 1.14x
EV / EBITDA 26.4x 17.1x 19.8x 18x 14.3x 12.7x 11.6x 11x
EV / EBIT 42.8x 27.5x 33.7x 27.4x 23.8x 21.2x 17.8x 16.4x
EV / FCF 79.1x 213x 44x 53.5x 25.3x 24.6x 24.4x 19.3x
FCF Yield 1.26% 0.47% 2.27% 1.87% 3.96% 4.07% 4.09% 5.19%
Dividend per Share 2 - 0.81 0.9 1 - 1.222 1.408 1.565
Rate of return - 0.66% 0.55% 0.55% - 0.93% 1.08% 1.2%
EPS 2 3.05 2.72 2.24 2.97 3.17 3.684 4.597 5.023
Distribution rate - 29.8% 40.2% 33.7% - 33.2% 30.6% 31.2%
Net sales 1 3,249 3,746 4,335 5,217 5,498 5,728 6,087 6,306
EBITDA 1 327.4 351.7 415.7 513.7 562.8 586.9 628.3 655
EBIT 1 201.6 219 244.9 337.5 338.1 349.8 410.8 438.5
Net income 1 135.2 121.1 100.4 134.4 145 165.1 204.4 212.1
Net Debt 1 - 598.2 994.5 1,055 928.3 1,411 1,287 1,182
Reference price 2 196.45 122.51 162.54 180.97 155.68 130.92 130.92 130.92
Nbr of stocks (in thousands) 43,930 44,214 44,633 45,262 45,712 45,982 - -
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
32.9x1.19x11.6x0.92% 602Cr
21.36x0.93x11.23x-.--% 3.97TCr
20.72x0.85x8.04x2.34% 1.84TCr
14.21x0.56x9.8x-.--% 1.48TCr
17.55x3.54x11.34x5.68% 1.14TCr
19.4x8.27x15.7x4.8% 961.56Cr
36.33x2.12x8.32x-.--% 676.7Cr
47.62x1.07x8.12x0.33% 479.4Cr
36.05x14.96x - 1.76% 455.22Cr
10.52x0.43x6.64x-.--% 292.17Cr
Average 25.67x 3.39x 10.09x 1.58% 1.19TCr
Weighted average by Cap. 22.64x 2.33x 10.52x 1.42%

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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  4. Valuation FirstService Corporation