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Resilient and diversified business model

Three decades of compounded annual growth driven primarily by organic growth.

Financial Highlights

FirstService Corporation
Year Ended December 31
(US$ thousands, except per share amounts) 2025 2024 2023 2022 2021
Operations
Revenues $5,497,500 $5,216,894 $4,334,548 $3,745,835 $3,249,072
Operating earnings $338,078 $337,512 $244,892 $219,026 $201,642
Net earnings $190,747 $187,774 $147,021 $145,007 $156,130
Financial position
Total assets $4,283,713 $4,194,852 $3,625,743 $2,774,514 $2,509,023
Long-term debt $1,082,676 $1,298,710 $1,182,107 $734,463 $652,804
Redeemable non-controlling interests $486,191 $449,337 $332,963 $233,429 $219,135
Shareholders’ equity $1,375,999 $1,187,746 $1,024,146 $907,466 $799,722
Common share data
Net earnings per common share:
Basic $3.19 $2.98 $2.25 $2.74 $3.08
Diluted $3.17 $2.97 $2.24 $2.72 $3.05
Weighted average common shares outstanding (thousands)
Basic 45,527 45,019 44,556 44,175 43,841
Diluted 45,754 45,280 44,795 44,494 44,401
Cash dividends per common share $1.10 $1.00 $0.90 $0.81 $0.73
Other data
Adjusted EBITDA1,3 $562,795 $513,690 $415,728 $351,732 $327,376
Adjusted EPS2,3 $5.75 $5.00 $4.66 $4.24 $4.57
Notes
  1. Adjusted EBITDA is defined as net earnings before income tax, interest, depreciation, amortization, other (income) expense, acquisition-related items, and stock-based compensation expense.
  2. Adjusted earnings per share is defined as diluted net earnings per common share, adjusted for the effect, after income tax, of the non-controlling interest redemption increment, amortization, acquisition-related items, and stock-based compensation expense.
  3. Adjusted EBITDA and Adjusted EPS, as presented above, are non-GAAP measures. Investors should consider non-GAAP measures in addition to, not as a substitute for, the comparable GAAP measures. Please visit www.sedarplus.ca to view our annual and interim MD&As, under Reconciliation of non-GAAP financial measures, for each of the above-mentioned periods for a description of each non-GAAP measure as well as the reconciliations to GAAP measures.
Annual Reports

Our discipline and proven business model has led to more than three decades of consistent growth and solid shareholder returns.

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Careers

Our companies strive to foster a strong culture that embraces diversity and inclusion, attracts those who share our values and offers opportunities for professional development and growth.

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Presentations

Learn what makes FirstService a leader in outsourced essential property services and our companies’ employers of choice in their respective industries.

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