Fact based stock research
FirstService (TSX:FSV)

CA33767E2024

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

FirstService stock research in summary

firstservice.com

ANALYSIS: With an Obermatt Combined Rank of 54 (better than 54% compared with investment alternatives), FirstService (Real Estate Services, Canada) shares have above-average financial characteristics compared with similar stocks. Shares of FirstService are low in value (priced high) with a consolidated Value Rank of 26 (worse than 74% of alternatives). But they show above-average growth (Growth Rank of 57) and are safely financed (Safety Rank of 54, which means below-average debt burdens). ...read more

RECOMMENDATION: A Combined Rank of 54, is a buy recommendation based on FirstService's financial characteristics. Investors looking for growth and low financial risk may find this stock attractive. While the company FirstService exhibits low value (Obermatt Value Rank of 26), which means that the stock price is rather high, it also demonstrates above-average growth (Obermatt Growth Rank of 57). This is a typical case, as high-growth companies are often expensive. Good financing practices (Obermatt Safety Rank of 54) are a double-edged sword: if the company continues growing, low debt limits shareholder returns. But if the company increases its debt, it will also increase risk. In other words, this is an investment on the safer side, despite the above-average price (low value). Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	26
Growth Rank	57
Safety Rank	54
Combined Rank	54

Country	Canada
Industry	Real Estate Services
Index	NASDAQ, TSX Composite
Size class	Large

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

Why popular stocks have low ratings

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: FirstService

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	45	38	44	26
GROWTH
GROWTH	11	77	60	57
SAFETY
SAFETY	67	85	83	54
SENTIMENT
SENTIMENT	77	73	100	^new
360° VIEW
360° VIEW	51	92	87	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better FirstService is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	45	38	44	26
GROWTH
GROWTH	11	77	60	57
SAFETY
SAFETY	67	85	83	54
COMBINED
COMBINED	34	93	66	54

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of FirstService the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 26 (worse than 74% compared with alternatives), FirstService shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, where the majority of metrics are below, and only one is above average for FirstService. Price-to-Sales (P/S) is 72, which means that the stock price compared with what market professionals expect for future sales is lower than 72% of comparable companies, indicating a good value concerning to FirstService's revenue size. But all other performance indicators point in a different direction. Dividend yields have a Dividend Yield rank of 26, meaning that dividends are expected to be lower than for 74% of comparable investments. Furthermore, Price-to-Book Capital (also referred to as market-to-book ratio) is less favorable than 90% of alternatives (only 10% of peers have an even higher ratio). The same is valid for Price-to-Profit (or Price / Earnings, P/E), which is higher than for 87% of comparable companies, making the stock more expensive compared with the company's expected profit levels. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 26, is a hold recommendation based on FirstService's stock price compared with the company's operational size and dividend yields. Since Price-to-Sales is a stable value indicator even in challenging times, investing in FirstService could be seen as a value investment. However, there must be a good reason for the low market-to-book rank. If the company has a typical capital investment practice, the stock may be overvalued because the profit and dividend-related performance indicators are also low. The stock is only good value if investors can expect profits and dividends to pick up in the future. Else, FirstService looks like an expensive investment today. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	66	59	64	72
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	47	42	44	13
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	14	15	15	10
DIVIDEND YIELD
DIVIDEND YIELD	33	34	32	26
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	45	38	44	26

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of FirstService; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 57 (better than 57% compared with alternatives), FirstService shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for FirstService. Sales Growth has a rank of 55 which means that currently, professionals expect the company to grow more than 55% of its competitors. Capital Growth is also above 29% of competitors with a rank of 54, and Stock Returns with the rank of 65 is also an outperformance. Only Profit Growth is low with a rank of 29 which means that currently, professionals expect the company to grow its profits less than 71% of its competitors. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 57, is a buy recommendation for growth and momentum investors. All three operating growth indicators, namely revenue, profit, and capital growth, are showing improvements. This is a good indication of a company with a positive future. That might, at the same time, be the simple reason why profit growth is low. A growing company needs money and thus can't yet show high profit growth. Look out for signs in corporate communication about extra growth efforts costing time and money. If that is the case, FirstService is a good growth stock. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	27	86	55	55
PROFIT GROWTH
PROFIT GROWTH	26	53	37	29
CAPITAL GROWTH
CAPITAL GROWTH	38	50	47	54
STOCK RETURNS
STOCK RETURNS	31	73	72	65
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	11	77	60	57

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of FirstService.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 54 (better than 54% compared with alternatives), the company FirstService has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of FirstService is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above-average for FirstService. Refinancing is at 54, meaning the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 54% of its competitors. Liquidity is also good at 62, meaning the company generates more profit to service its debt than 62% of its competitors. This indicates that the company is safer when it comes to debt service. However, Leverage is rather large at 41, which means the company has an above-average debt-to-equity ratio. It has more debt than 59% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 54 (better than 54% compared with alternatives), FirstService has a financing structure that is safer than that of its competitors. This is not bad if things go well. The higher debt level means better returns to shareholders if things go well. Many top-performing companies operate with higher debt levels, and FirstService could be in that group. But if you expect the environment to turn rougher, the higher leverage could become a problem. The same is valid if you expect interest rates to rise. That could squeeze shareholder returns, which so far have benefitted from better conditions. In the long-term, investors may have a debt challenge with FirstService and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	62	62	55	41
REFINANCING
REFINANCING	48	64	71	54
LIQUIDITY
LIQUIDITY	84	89	77	62
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	67	85	83	54

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of FirstService and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	89	69	^new
OPINIONS CHANGE
OPINIONS CHANGE	79	6	91	^new
PRO HOLDINGS
PRO HOLDINGS	31	42	72	^new
MARKET PULSE
MARKET PULSE	92	100	97	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	77	73	100	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for FirstService.
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