FirstService (FSV)

Residential property services roll-up (40-F filer). FirstService is listed on the Nasdaq Global Select Market and reports in USD. compounders.ai reads its annual filings and shows reported operating profit next to normalized EBITA under one published rulebook, every figure linked to the filing it was read from.

Archetype: Distribution / services roll-up
Listing: Nasdaq Global Select Market: FSV (listing key NasdaqGS-FSV)
Country: Canada
Reporting currency: USD
Filing source: SEC inline XBRL (native)
Latest filing on record: Form 40-F for the fiscal year ended 2025-12-31 — FirstService, filed 20 Feb 2026 (22 filings on record)
Fiscal years published: FY2013–FY2025
Normalized EBITA published: FY2021–FY2025

Key figures, FY2025

Fiscal year ended 31 Dec 2025, in USD as reported. Published 20 Oct 2026 under ruleset 1.4.0; read for this page on 20 Oct 2026. Each figure links to the filing it was read from; a computed figure links to its primary citation.

Figure	FY2025	Source
Income statement
Revenue	USD 5,497,500 thousand	sec.gov · `us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax` · as filed
Reported operating profit	USD 338,078 thousand	sec.gov · `us-gaap:OperatingIncomeLoss` · as filed
Reported operating margin	6.1%	sec.gov · `us-gaap:OperatingIncomeLoss` · computed from cited lines
Normalized EBITA	USD 411,121 thousand	sec.gov · `us-gaap:OperatingIncomeLoss` · computed from cited lines
Normalized EBITA margin	7.5%	sec.gov · `us-gaap:OperatingIncomeLoss` · computed from cited lines
Normalized EBITDA	USD 519,092 thousand	sec.gov · `us-gaap:OperatingIncomeLoss` · computed from cited lines
Returns on capital
ROIC incl. goodwill	10.7%	sec.gov · `us-gaap:OperatingIncomeLoss` · computed from cited lines
ROIC excl. goodwill	22.6%	sec.gov · `us-gaap:OperatingIncomeLoss` · computed from cited lines
ROIIC, 3 years	8.4%	sec.gov · `us-gaap:OperatingIncomeLoss` · computed from cited lines
Balance sheet and cash
Net debt	USD 928,251 thousand	sec.gov · `us-gaap:LongTermDebtAndCapitalLeaseObligations` · computed from cited lines
Net debt to EBITDA	1.77x	sec.gov · `us-gaap:LongTermDebtAndCapitalLeaseObligations` · computed from cited lines
FCF before acquisitions	USD 318,236 thousand	sec.gov · `us-gaap:NetCashProvidedByUsedInOperatingActivities` · computed from cited lines
FCF available to shareholders (FCFA2S)	USD 301,103 thousand	sec.gov · `us-gaap:NetCashProvidedByUsedInOperatingActivities` · computed from cited lines

Earlier years (FY2013–FY2024) are in the terminal's tabs below.

In the terminal

How the figures are made: methodology · glossary · how to cite them: citation guidelines.