FirstService Corp
FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment operates as a full-service property manager and provides a range of … Read more
FirstService Corp (FSV) - Net Assets
Latest net assets as of December 2025: $1.85 Billion USD
Based on the latest financial reports, FirstService Corp (FSV) has net assets worth $1.85 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($4.28 Billion) and total liabilities ($2.42 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.85 Billion |
| % of Total Assets | 43.37% |
| Annual Growth Rate | 11.39% |
| 5-Year Change | 82.01% |
| 10-Year Change | 924.37% |
| Growth Volatility | 40.84 |
FirstService Corp - Net Assets Trend (2009–2025)
This chart illustrates how FirstService Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for FirstService Corp (2009–2025)
The table below shows the annual net assets of FirstService Corp from 2009 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.85 Billion | +13.27% |
| 2024-12-31 | $1.64 Billion | +20.63% |
| 2023-12-31 | $1.36 Billion | +18.95% |
| 2022-12-31 | $1.14 Billion | +11.98% |
| 2021-12-31 | $1.02 Billion | +19.38% |
| 2020-12-31 | $853.43 Million | +42.11% |
| 2019-12-31 | $600.55 Million | +154.23% |
| 2018-12-31 | $236.23 Million | +16.23% |
| 2017-12-31 | $203.23 Million | +12.27% |
| 2016-12-31 | $181.03 Million | +8.38% |
| 2015-12-31 | $167.03 Million | -30.31% |
| 2014-12-31 | $239.68 Million | -49.13% |
| 2013-12-31 | $471.12 Million | +20.21% |
| 2012-12-31 | $391.90 Million | +1.79% |
| 2011-12-31 | $385.02 Million | +3.06% |
| 2010-12-31 | $373.61 Million | +13.14% |
| 2009-12-31 | $330.20 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to FirstService Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 37393811800.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $259.92 Million | 18.89% |
| Common Stock | $1.00 Billion | 73.02% |
| Other Components | $111.35 Million | 8.09% |
| Total Equity | $1.38 Billion | 100.00% |
FirstService Corp Competitors by Market Cap
The table below lists competitors of FirstService Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Redeia Corporacion S.A.
MC:RED
|
$6.35 Billion |
|
Ivanhoe Mines Ltd.
OTCQX:IVPAF
|
$6.36 Billion |
|
YPF Sociedad Anónima
SA:Y2PF34
|
$6.36 Billion |
|
Ollie's Bargain Outlet Hldg
NASDAQ:OLLI
|
$6.36 Billion |
|
Federal Signal Corporation
NYSE:FSS
|
$6.35 Billion |
|
Hyundai Glovis
KO:086280
|
$6.35 Billion |
|
The People's Insurance Company (Group) of China Limited
PINK:PINXF
|
$6.33 Billion |
|
Ningbo Deye Technology Co Ltd
SHG:605117
|
$6.33 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in FirstService Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,187,746,000 to 1,375,999,000, a change of 188,253,000 (15.8%).
- Net income of 145,646,141 contributed positively to equity growth.
- Dividend payments of 48,886,000 reduced retained earnings.
- Other comprehensive income increased equity by 12,430,000.
- Other factors increased equity by 79,062,859.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $145.65 Million | +10.58% |
| Dividends Paid | $48.89 Million | -3.55% |
| Other Comprehensive Income | $12.43 Million | +0.9% |
| Other Changes | $79.06 Million | +5.75% |
| Total Change | $- | 15.85% |
Book Value vs Market Value Analysis
This analysis compares FirstService Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.76x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 25.38x to 4.76x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | $5.63 | $142.79 | x |
| 2010-12-31 | $6.56 | $142.79 | x |
| 2011-12-31 | $7.97 | $142.79 | x |
| 2012-12-31 | $7.90 | $142.79 | x |
| 2013-12-31 | $6.66 | $142.79 | x |
| 2014-12-31 | $4.37 | $142.79 | x |
| 2015-12-31 | $4.59 | $142.79 | x |
| 2016-12-31 | $4.98 | $142.79 | x |
| 2017-12-31 | $5.56 | $142.79 | x |
| 2018-12-31 | $6.46 | $142.79 | x |
| 2019-12-31 | $11.14 | $142.79 | x |
| 2020-12-31 | $15.29 | $142.79 | x |
| 2021-12-31 | $18.01 | $142.79 | x |
| 2022-12-31 | $20.40 | $142.79 | x |
| 2023-12-31 | $22.86 | $142.79 | x |
| 2024-12-31 | $26.23 | $142.79 | x |
| 2025-12-31 | $30.02 | $142.79 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently FirstService Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 10.58%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.64%
- • Asset Turnover: 1.29x
- • Equity Multiplier: 3.11x
- Recent ROE (10.58%) is above the historical average (6.75%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | -27.01% | -2.63% | 1.69x | 6.08x | $-61.46 Million |
| 2010 | 6.81% | 0.68% | 1.76x | 5.67x | $-6.36 Million |
| 2011 | 30.42% | 3.33% | 1.80x | 5.06x | $49.75 Million |
| 2012 | 2.44% | 0.25% | 1.75x | 5.49x | $-18.14 Million |
| 2013 | -7.46% | -0.77% | 1.62x | 5.97x | $-42.23 Million |
| 2014 | 8.17% | 1.15% | 1.84x | 3.88x | $-2.90 Million |
| 2015 | 12.81% | 1.69% | 2.11x | 3.60x | $4.69 Million |
| 2016 | 18.56% | 2.27% | 1.92x | 4.26x | $15.49 Million |
| 2017 | 26.12% | 3.11% | 2.04x | 4.12x | $32.75 Million |
| 2018 | 27.88% | 3.41% | 1.92x | 4.26x | $42.24 Million |
| 2019 | -59.08% | -10.45% | 1.23x | 4.59x | $-294.20 Million |
| 2020 | 13.21% | 3.15% | 1.26x | 3.33x | $21.22 Million |
| 2021 | 16.91% | 4.16% | 1.29x | 3.14x | $55.24 Million |
| 2022 | 13.34% | 3.23% | 1.35x | 3.06x | $30.33 Million |
| 2023 | 9.80% | 2.32% | 1.20x | 3.54x | $-2.02 Million |
| 2024 | 11.31% | 2.58% | 1.24x | 3.53x | $15.60 Million |
| 2025 | 10.58% | 2.64% | 1.29x | 3.11x | $8.05 Million |
Industry Comparison
This section compares FirstService Corp's net assets metrics with peer companies in the Real Estate Services industry.
Industry Context
- Industry: Real Estate Services
- Average net assets among peers: $860,434,363
- Average return on equity (ROE) among peers: -17.79%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| FirstService Corp (FSV) | $1.85 Billion | -27.01% | 1.31x | $6.35 Billion |
| Aroundtown SA (AANNF) | $2.43 Billion | 28.32% | 0.83x | $1.42 Billion |
| AAP Inc (AAPJ) | $-1.00 Million | 0.00% | 0.00x | $1.97 |
| Ambase Corp (ABCP) | $-4.12 Million | 0.00% | 0.00x | $6.43 Million |
| Americann Inc (ACAN) | $1.31 Million | -131.48% | 2.04x | $2.44K |
| Ascendas India Trust (ACNDF) | $1.32 Billion | 9.88% | 1.00x | $831.45 Million |
| Adler Group S.A (ADPPF) | $2.20 Billion | 17.61% | 0.90x | $41.80 Million |
| Agritek Holdings Inc (AGTK) | $487.65K | -21.43% | -0.50x | $5.39K |
| reAlpha Tech Corp. Common Stock (AIRE) | $13.17 Million | -41.42% | 0.60x | $32.30 Million |
| Avalon GloboCare Corp. (ALBT) | $7.31 Million | -47.40% | 0.73x | $2.25 Million |
| Allreal (ALRHF) | $2.64 Billion | 8.00% | 1.23x | $2.39 Billion |