FirstService Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), FirstService Corp reported revenue of $5.5B (+5.4% year on year) and net income of $190.7M (+1.6% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenues (note 3) | $5.5B | $5.2B | $4.3B | $3.7B |
| Cost of revenues (exclusive of depreciation and amortization shown below) | $3.7B | $3.5B | $2.9B | $2.6B |
| Selling, general and administrative expenses | $1.3B | $1.2B | $993.2M | $846.4M |
| Depreciation | $108.0M | $92.9M | $73.7M | $61.4M |
| Amortization of intangible assets | $77.2M | $72.4M | $54.2M | $48.7M |
| Acquisition-related items (note 4) | $12.1M | ($14.4M) | $21.5M | $4.5M |
| Operating earnings | $338.1M | $337.5M | $244.9M | $219.0M |
| Interest expense, net | $73.7M | $82.9M | $47.4M | $25.2M |
| Other income, net (note 6) | ($2.1M) | ($3.2M) | ($5.8M) | ($146.0K) |
| Earnings before income tax | $266.5M | $257.9M | $203.3M | $194.0M |
| Income tax (note 14) | $75.8M | $70.1M | $56.3M | $49.0M |
| Net earnings | $190.7M | $187.8M | $147.0M | $145.0M |
| Non-controlling interest share of earnings (note 11) | $15.9M | $15.6M | $14.1M | $9.4M |
| Non-controlling interest redemption increment (note 11) | $29.8M | $37.8M | $32.5M | $14.6M |
| Net earnings attributable to Company | $145.0M | $134.4M | $100.4M | $121.1M |
| Basic (in dollars per share) | $3.19 | $2.98 | $2.25 | $2.74 |
| Diluted (in dollars per share) | $3.17 | $2.97 | $2.24 | $2.72 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $154.4M | $227.6M | $187.6M | $136.2M |
| Restricted cash | $25.7M | $16.1M | $19.3M | $23.1M |
| Accounts receivable, net of allowance of $27,334 (December 31, 2024 - $24,921) (note 2) | $922.1M | $947.5M | $842.2M | $635.9M |
| Income tax recoverable | $22.1M | $9.4M | $8.8M | $20.9M |
| Inventories, net (note 6) | $274.2M | $279.6M | $246.2M | $242.3M |
| Prepaid expenses and other current assets | $105.2M | $79.1M | $56.9M | $50.3M |
| Assets, Current | $1.5B | $1.6B | $1.4B | $1.1B |
| Other receivables | $4.7M | $3.9M | $4.2M | $4.9M |
| Other assets | $24.8M | $24.1M | $28.4M | $32.0M |
| Deferred income tax (note 14) | $5.0M | $2.1M | $1.8M | $1.7M |
| Fixed assets (note 7) | $289.7M | $254.0M | $204.2M | $167.0M |
| Operating lease right-of-use assets (note 5) | $269.6M | $240.5M | $218.3M | $205.5M |
| Intangible assets (note 8) | $684.7M | $715.5M | $628.0M | $368.5M |
| Goodwill (notes 2 and 9) | $1.5B | $1.4B | $1.2B | $886.1M |
| Assets, Noncurrent | $2.8B | $2.6B | $2.3B | $1.7B |
| Assets | $4.3B | $4.2B | $3.6B | $2.8B |
| Accounts payable | $158.5M | $174.1M | $143.3M | $116.0M |
| Accrued liabilities (note 6) | $388.6M | $367.4M | $327.7M | $282.3M |
| Income tax payable | $12.7M | $8.4M | $1.5M | $2.8M |
| Unearned revenues | $209.2M | $190.9M | $178.6M | $125.5M |
| Operating lease liabilities - current (note 5) | $59.1M | $53.1M | $50.9M | $49.1M |
| Long-term debt - current (note 10) | $13.6M | $41.6M | $37.1M | $35.7M |
| Contingent acquisition consideration - current (note 16) | $40.4M | $15.3M | $31.6M | $25.5M |
| Liabilities, Current | $882.1M | $850.8M | $770.8M | $637.0M |
| Long-term debt - non-current (note 10) | $1.1B | $1.3B | $1.1B | $698.8M |
| Operating lease liabilities - non-current (note 5) | $242.6M | $214.4M | $183.9M | $168.6M |
| Contingent acquisition consideration (note 16) | $6.6M | $51.9M | $31.9M | $8.7M |
| Unearned revenues | $25.5M | $23.3M | $21.4M | $17.9M |
| Other liabilities | $92.7M | $75.3M | $62.7M | $51.7M |
| Deferred income tax (note 14) | $103.0M | $84.9M | $53.0M | $51.1M |
| Liabilities, Noncurrent | $1.5B | $1.7B | $1.5B | $996.6M |
| Redeemable non-controlling interests (note 11) | $486.2M | $449.3M | $333.0M | $233.4M |
| Shareholders' equity | $1.4B | $1.2B | $1.0B | $907.5M |
| Liabilities and Equity | $4.3B | $4.2B | $3.6B | $2.8B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net earnings | $190.7M | $187.8M | $147.0M | $145.0M |
| Depreciation and amortization | $185.2M | $165.3M | $127.9M | $110.1M |
| Deferred income tax | $2.5M | ($14.0M) | ($19.0M) | $7.4M |
| Contingent acquisition consideration fair value adjustments | ($4.2M) | ($20.0M) | $16.4M | ($594.0K) |
| Stock-based compensation | $27.4M | $25.3M | — | — |
| Other | $2.1M | $517.0K | $22.4M | $19.0M |
| Accounts receivable | $59.6M | ($42.3M) | ($93.8M) | ($69.7M) |
| Inventories | $18.1M | ($19.4M) | $22.2M | ($71.5M) |
| Prepaid expenses and other current assets | ($25.5M) | ($15.0M) | ($4.8M) | $266.0K |
| Accounts payable | ($32.4M) | $14.2M | ($17.1M) | $11.5M |
| Accrued liabilities | $8.6M | $2.1M | $25.9M | ($8.8M) |
| Income tax payable | ($8.3M) | $6.3M | $10.8M | ($13.8M) |
| Unearned revenues | $12.4M | ($9.1M) | $40.0M | $3.8M |
| Other liabilities | $21.9M | $23.4M | $11.2M | ($26.8M) |
| Contingent acquisition consideration paid | ($12.1M) | ($19.4M) | ($4.3M) | $0 |
| Net cash provided by operating activities | $445.9M | $285.7M | $280.4M | $105.9M |
| Acquisitions of businesses, net of cash acquired (note 4) | ($107.2M) | ($212.2M) | ($547.2M) | ($52.0M) |
| Purchases of fixed assets | ($127.7M) | ($112.8M) | ($92.7M) | ($77.6M) |
| Other investing activities | ($10.3M) | $1.3M | ($13.8M) | ($31.2M) |
| Net cash used in investing activities | ($245.2M) | ($323.7M) | ($646.3M) | ($160.8M) |
| Proceeds from long-term debt | $136.0M | $367.0M | $587.8M | $150.2M |
| Repayment of long-term debt | ($350.7M) | ($263.4M) | ($141.0M) | ($70.0M) |
| Purchases of non-controlling interests | ($35.3M) | ($26.1M) | ($5.3M) | ($21.8M) |
| Sale of interests in subsidiaries to non-controlling interests | $1.5M | $1.7M | $1.0M | $343.0K |
| Contingent acquisition consideration paid | ($10.8M) | ($10.0M) | ($15.8M) | ($6.8M) |
| Proceeds received on exercise of stock options | $62.0M | $58.4M | $33.6M | $12.3M |
| Dividends paid to common shareholders | ($48.9M) | ($43.8M) | ($39.1M) | ($34.9M) |
| Distributions paid to non-controlling interests | ($17.1M) | ($9.3M) | ($7.4M) | ($8.1M) |
| Net cash provided by financing activities | ($263.3M) | $74.4M | $413.9M | $18.8M |
| Effect of exchange rate changes on cash | ($1.0M) | $429.0K | ($447.0K) | $1.2M |
| Increase in cash, cash equivalents and restricted cash | ($63.6M) | $36.8M | $47.5M | ($34.9M) |
| Cash, cash equivalents and restricted cash, beginning of year | $243.7M | $206.9M | $159.3M | $194.3M |
| Cash, cash equivalents and restricted cash, end of year | $180.1M | $243.7M | $206.9M | $159.3M |
FirstService Corp score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.