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 6,248 - -
Change - -37.23% 33.93% 12.91% -13.12% -12.2% - -
Enterprise Value (EV) 1 8,630 6,015 8,249 9,246 8,045 7,659 7,535 7,430
Change - -30.3% 37.14% 12.09% -13% -4.8% -1.62% -1.39%
P/E 64.4x 45x 72.6x 60.9x 49.1x 37.7x 31.9x 28.3x
PBR - 5.97x 7.09x 6.9x 5.18x 6.05x 5.43x 7.08x
PEG - -4.2x -4.1x 1.9x 7.29x 2x 1.8x 2.2x
Capitalization / Revenue 2.66x 1.45x 1.67x 1.57x 1.29x 1.09x 1.03x 0.99x
EV / Revenue 2.66x 1.61x 1.9x 1.77x 1.46x 1.34x 1.24x 1.18x
EV / EBITDA 26.4x 17.1x 19.8x 18x 14.3x 13x 12x 11.3x
EV / EBIT 42.8x 27.5x 33.7x 27.4x 23.8x 21.5x 18.6x 16.9x
EV / FCF 79.1x 213x 44x 53.5x 25.3x 25.3x 25.2x 19.9x
FCF Yield 1.26% 0.47% 2.27% 1.87% 3.96% 3.95% 3.97% 5.03%
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% 0.86% 0.99% 1.1%
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 2 196.45 122.51 162.54 180.97 155.68 142.25 142.25 142.25
Nbr of stocks (in thousands) 43,930 44,214 44,633 45,262 45,712 43,923 - -
Announcement Date 15/2/22 7/2/23 6/2/24 5/2/25 4/2/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
37.66x1.34x13.04x0.86% 6.25B
25.44x0.99x11.95x-.--% 42.68B
22.34x0.96x9.08x2.17% 19.95B
15.1x0.64x10.58x-.--% 16.69B
18.24x3.7x11.87x5.46% 11.93B
21.27x8.81x16.71x4.38% 10.66B
62.22x2.43x9.59x-.--% 7.49B
37.9x1.14x8.73x0.31% 5.15B
30.15x11.89x - 1.92% 4.16B
12.52x0.46x7.04x-.--% 3.24B
Average 28.28x 3.24x 10.95x 1.51% 12.82B
Weighted average by Cap. 25.67x 2.29x 11.36x 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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  4. Valuation FirstService Corporation