FSV Valuation

FirstService Corp

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201.200

+0.58(0.289%)1D

Overview
Forecast
Valuation
Earnings

FSV Relative Valuation

FSV's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, FSV is overvalued; if below, it's undervalued.

Historical Valuation

FirstService Corp (FSV) is now in the Fair zone, suggesting that its current forward PE ratio of 33.61 is considered Fairly compared with the five-year average of 33.61. The fair price of FirstService Corp (FSV) is between 161.67 to 215.92 according to relative valuation methord.

Relative Value

Fair Zone

161.67-215.92

Current Price：200.62

Fair

33.71

Trailing

Forward

18.47

EV/EBITDA

FirstService Corp. (FSV) has a current EV/EBITDA of 18.47. The 5-year average EV/EBITDA is 19.66. The thresholds are as follows: Strongly Undervalued below 13.23, Undervalued between 13.23 and 16.45, Fairly Valued between 22.88 and 16.45, Overvalued between 22.88 and 26.10, and Strongly Overvalued above 26.10. The current Forward EV/EBITDA of 18.47 falls within the Historic Trend Line -Fairly Valued range.

29.78

EV/EBIT

FirstService Corp. (FSV) has a current EV/EBIT of 29.78. The 5-year average EV/EBIT is 31.39. The thresholds are as follows: Strongly Undervalued below 20.30, Undervalued between 20.30 and 25.84, Fairly Valued between 36.93 and 25.84, Overvalued between 36.93 and 42.48, and Strongly Overvalued above 42.48. The current Forward EV/EBIT of 29.78 falls within the Historic Trend Line -Fairly Valued range.

1.57

FirstService Corp. (FSV) has a current PS of 1.57. The 5-year average PS is 1.68. The thresholds are as follows: Strongly Undervalued below 0.95, Undervalued between 0.95 and 1.31, Fairly Valued between 2.05 and 1.31, Overvalued between 2.05 and 2.42, and Strongly Overvalued above 2.42. The current Forward PS of 1.57 falls within the Historic Trend Line -Fairly Valued range.

22.87

P/OCF

FirstService Corp. (FSV) has a current P/OCF of 22.87. The 5-year average P/OCF is 24.21. The thresholds are as follows: Strongly Undervalued below 11.79, Undervalued between 11.79 and 18.00, Fairly Valued between 30.43 and 18.00, Overvalued between 30.43 and 36.64, and Strongly Overvalued above 36.64. The current Forward P/OCF of 22.87 falls within the Historic Trend Line -Fairly Valued range.

32.73

P/FCF

FirstService Corp. (FSV) has a current P/FCF of 32.73. The 5-year average P/FCF is 35.51. The thresholds are as follows: Strongly Undervalued below 16.82, Undervalued between 16.82 and 26.17, Fairly Valued between 44.86 and 26.17, Overvalued between 44.86 and 54.21, and Strongly Overvalued above 54.21. The current Forward P/FCF of 32.73 falls within the Historic Trend Line -Fairly Valued range.

FirstService Corp (FSV) has a current Price-to-Book (P/B) ratio of 7.28. Compared to its 3-year average P/B ratio of 6.81 , the current P/B ratio is approximately 7.01% higher. Relative to its 5-year average P/B ratio of 7.80, the current P/B ratio is about -6.60% higher. FirstService Corp (FSV) has a Forward Free Cash Flow (FCF) yield of approximately 2.69%. Compared to its 3-year average FCF yield of 1.76%, the current FCF yield is approximately 52.82% lower. Relative to its 5-year average FCF yield of 2.06% , the current FCF yield is about 30.63% lower.

7.31

P/B

Median3y

6.81

Median5y

7.80

2.70

FCF Yield

Median3y

1.76

Median5y

2.06

Competitors Valuation Multiple

The average P/S ratio for FSV's competitors is 2.55, providing a benchmark for relative valuation. FirstService Corp Corp (FSV) exhibits a P/S ratio of 1.57, which is -38.17% above the industry average. Given its robust revenue growth of 9.12%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

Jones Lang LaSalle Inc

Millrose Properties Inc

8.55

5.86B

HHH.N

Howard Hughes Holdings Inc

Hilton Grand Vacations Inc

Opendoor Technologies Inc

0.93

3.71%

3.27B

Performance Decomposition

Market capitalization of FSV increased by 11.73% over the past 1 year. The primary factor behind the change was an increase in Margin Expansion from 3.46 to 3.92.

The secondary factor is the Revenue Growth, contributed 9.12%to the performance.

Overall, the performance of FSV in the past 1 year is driven by Margin Expansion. Which is more sustainable.

9.12%

1.30B → 1.42B

Revenue Growth

13.29%

3.46 → 3.92

Margin Expansion

-10.68%

72.35 → 64.62

P/E Change

11.73%