FirstService Corporation
In the published model solve dated 2026-Q2, anchored at $144.11, FirstService Corporation (FSV) is priced for +12.5% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 26, 2026 from SEC EDGAR filings.
• FirstService is two businesses: FirstService Brands, the larger of the two at roughly 58% of revenue, which does roofing, restoration, fire protection and painting, and FirstService Residential, the largest manager of residential communities in North America at about 42%. • The engine of recent growth has stalled at the profit line: revenue rose 5% during 2025 to 5.50 billion dollars while operating earnings went from 337.5 million to 338.1 million, essentially unchanged [Source: management's
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285 institutional managers reported holding FSV in 13F filings for the quarter ended 2026-03-31. Together they hold about 65% of the company; the top 10 hold 31%. 33 opened new positions that quarter. Held by Janus Henderson, Morgan Stanley, Geode Capital, among others. On the short side, 849k shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (3.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
FSV's share count grew 3.8% over the past five years. It pays a dividend, and has for 11 years running, raised 10 years straight. Cash returned over the past three years: $131.77M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 26, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.