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FirstService Corporation

Financial Statements (IFRS) · Amounts in CAD
5 10 All
Income Statement
Balance Sheet
Cash Flow
Line Item FY 2025Dec 31, 2025 FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Total Revenue 5.5B 5.2B 4.3B 3.7B 3.2B
Operating Revenue 5.5B 5.2B 4.3B 3.7B 3.2B
Cost Of Revenue 3.7B 3.5B 2.9B 2.6B 2.2B
Gross Profit 1.8B 1.7B 1.4B 1.2B 1.0B
Selling General And Administration 1.3B 1.2B 993.2M 846.4M 733.6M
Depreciation And Amortization In Income Statement 185.2M 165.3M 127.9M 110.1M 99.0M
Operating Expense 1.5B 1.4B 1.1B 956.6M 832.6M
Operating Income 350.2M 323.1M 266.4M 223.5M 213.7M
EBIT 340.2M 340.8M 250.7M 219.2M 225.0M
Interest Expense 73.7M 82.9M 47.4M 25.2M 16.0M
Interest Expense Non Operating 73.7M 82.9M 47.4M 25.2M 16.0M
Net Interest Income -73.7M -82.9M -47.4M -25.2M -16.0M
Other Income Expense -10.0M 17.6M -15.7M -4.4M 11.4M
Other Non Operating Income Expenses 2.1M 3.2M 1.5M 146,000 3.6M
Special Income Charges -12.1M 14.4M -17.2M -4.5M 7.8M
Restructuring And Mergern Acquisition 12.1M -14.4M 21.5M 4.5M 12.0M
Pretax Income 266.5M 257.9M 203.3M 194.0M 209.0M
Tax Provision 75.8M 70.1M 56.3M 49.0M 52.9M
Tax Effect Of Unusual Items -3.4M 3.9M -4.8M -1.1M 1.9M
Net Income From Continuing And Discontinued Operation 145.0M 134.4M 100.4M 121.1M 135.2M
Net Income From Continuing Operation Net Minority Interest 145.0M 134.4M 100.4M 121.1M 135.2M
Net Income Including Noncontrolling Interests 190.7M 187.8M 147.0M 145.0M 156.1M
Minority Interests -45.7M -53.4M -46.6M -23.9M -20.9M
Net Income Common Stockholders 145.0M 134.4M 100.4M 121.1M 135.2M
Net Income 145.0M 134.4M 100.4M 121.1M 135.2M
EBITDA 525.4M 506.0M 378.6M 329.3M 324.0M
Normalized EBITDA 537.5M 491.6M 395.8M 333.8M 316.2M
Reconciled Depreciation 185.2M 165.3M 127.9M 110.1M 99.0M
Basic EPS 3.19 2.98 2.25 2.74 3.08
Diluted EPS 3.17 2.97 2.24 2.72 3.05
Basic Average Shares 45.5M 45.0M 44.6M 44.2M 43.8M
Diluted Average Shares 45.8M 45.3M 44.8M 44.5M 44.4M
Total Unusual Items -12.1M 14.4M -17.2M -4.5M 7.8M
Total Unusual Items Excluding Goodwill -12.1M 14.4M -17.2M -4.5M 7.8M
Tax Rate For Calcs 0.28 0.27 0.28 0.25 0.25
Normalized Income 153.7M 123.9M 112.8M 124.5M 129.4M
Amortization 77.2M 72.4M 54.2M 48.7M 43.9M
Amortization Of Intangibles Income Statement 77.2M 72.4M 54.2M 48.7M 43.9M
Depreciation Amortization Depletion Income Statement 185.2M 165.3M 127.9M 110.1M 99.0M
Depreciation Income Statement 108.0M 92.9M 73.7M 61.4M 55.1M
Diluted NI Availto Com Stockholders 145.0M 134.4M 100.4M 121.1M 135.2M
Gain On Sale Of Business -- -- -- 0.00 12.5M
Gain On Sale Of Ppe -- 0.00 4.4M 0.00 7.3M
Net Income Continuous Operations 190.7M 187.8M 147.0M 145.0M 156.1M
Net Non Operating Interest Income Expense -73.7M -82.9M -47.4M -25.2M -16.0M
Reconciled Cost Of Revenue 3.7B 3.5B 2.9B 2.6B 2.2B
Total Expenses 5.1B 4.9B 4.1B 3.5B 3.0B
Total Operating Income As Reported 338.1M 337.5M 244.9M 219.0M 201.6M
Line Item FY 2025Dec 31, 2025 FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Cash And Cash Equivalents 154.4M 227.6M 187.6M 136.2M 165.7M
Cash Cash Equivalents And Short Term Investments 154.4M 227.6M 187.6M 136.2M 165.7M
Accounts Receivable 922.1M 947.5M 842.2M 635.9M 551.6M
Receivables 944.2M 956.9M 851.0M 656.8M 558.4M
Inventory 274.2M 279.6M 246.2M 242.3M 161.4M
Prepaid Assets -- -- -- -- 50.6M
Other Current Assets 105.2M 79.1M 56.9M 50.3M 50.6M
Current Assets 1.5B 1.6B 1.4B 1.1B 964.7M
Gross PPE 1.1B 937.5M 831.8M 731.5M 597.2M
Accumulated Depreciation -501.2M -443.0M -409.3M -358.9M -299.4M
Net PPE 559.3M 494.5M 422.5M 372.6M 297.8M
Goodwill 1.5B 1.4B 1.2B 886.1M 843.4M
Goodwill And Other Intangible Assets 2.2B 2.1B 1.8B 1.3B 1.2B
Other Intangible Assets 684.7M 715.5M 628.0M 368.5M 382.1M
Other Non Current Assets 24.8M 24.1M 28.4M 32.0M 14.6M
Total Non Current Assets 2.8B 2.6B 2.3B 1.7B 1.5B
Total Assets 4.3B 4.2B 3.6B 2.8B 2.5B
Current Debt 13.6M 41.6M 37.1M 35.7M 57.4M
Current Debt And Capital Lease Obligation 72.8M 94.7M 88.0M 84.8M 105.5M
Accounts Payable 158.5M 174.1M 143.3M 116.0M 100.1M
Payables 171.2M 182.4M 144.8M 118.8M 102.7M
Payables And Accrued Expenses 549.4M 543.1M 465.4M 394.7M 383.6M
Current Accrued Expenses 378.2M 360.7M 320.6M 275.9M 280.9M
Current Deferred Revenue 219.6M 197.6M 185.7M 131.9M 121.9M
Other Current Liabilities 40.4M 15.3M 31.6M 25.5M 7.5M
Current Liabilities 882.1M 850.8M 770.8M 637.0M 618.5M
Long Term Debt 1.1B 1.3B 1.1B 698.8M 595.4M
Long Term Debt And Capital Lease Obligation 1.3B 1.5B 1.3B 867.4M 717.7M
Long Term Capital Lease Obligation 242.6M 214.4M 183.9M 168.6M 122.3M
Other Non Current Liabilities 99.2M 127.3M 94.6M 60.3M 96.8M
Total Non Current Liabilities Net Minority Interest 1.5B 1.7B 1.5B 996.6M 871.7M
Total Liabilities Net Minority Interest 2.4B 2.6B 2.3B 1.6B 1.5B
Common Stock 1.0B 929.9M 855.8M 813.0M 797.4M
Capital Stock 1.0B 929.9M 855.8M 813.0M 797.4M
Additional Paid In Capital 117.6M 104.8M 95.2M 83.0M 68.2M
Retained Earnings 260.4M 165.5M 77.5M 17.3M -67.9M
Gains Losses Not Affecting Retained Earnings -8.5M -12.4M -4.4M -5.9M 2.0M
Other Equity Adjustments -8.5M -12.4M -4.4M -5.9M 2.0M
Common Stock Equity 1.4B 1.2B 1.0B 907.5M 799.7M
Stockholders Equity 1.4B 1.2B 1.0B 907.5M 799.7M
Total Equity Gross Minority Interest 1.9B 1.6B 1.4B 1.1B 1.0B
Minority Interest 486.2M 449.3M 333.0M 233.4M 219.1M
Total Capitalization 2.4B 2.4B 2.2B 1.6B 1.4B
Net Tangible Assets -810.2M -923.1M -783.7M -347.1M -425.7M
Tangible Book Value -810.2M -923.1M -783.7M -347.1M -425.7M
Working Capital 621.6M 708.6M 590.2M 471.9M 346.2M
Invested Capital 2.5B 2.5B 2.2B 1.6B 1.5B
Total Debt 1.4B 1.6B 1.4B 952.2M 823.2M
Net Debt 928.3M 1.1B 994.5M 598.2M 487.1M
Share Issued 45.7M 45.3M 44.7M 44.2M 44.0M
Ordinary Shares Number 45.7M 45.3M 44.7M 44.2M 44.0M
Allowance For Doubtful Accounts Receivable -27.3M -24.9M -19.6M -18.2M -14.0M
Buildings And Improvements 4.6M 4.6M 4.6M 9.3M 4.7M
Capital Lease Obligations 301.7M 267.5M 234.8M 217.7M 170.4M
Current Capital Lease Obligation 59.1M 53.1M 50.9M 49.1M 48.0M
Current Deferred Liabilities 219.6M 197.6M 185.7M 131.9M 121.9M
Finished Goods 30.3M 20.5M 26.4M 32.3M 24.7M
Gross Accounts Receivable 949.4M 972.4M 861.8M 654.2M 565.5M
Income Tax Payable 12.7M 8.4M 1.5M 2.8M 2.6M
Land And Improvements 25,000 24,000 26,000 1.3M 1.3M
Leases 90.4M 83.3M 65.8M 50.6M 48.6M
Machinery Furniture Equipment 696.0M 609.1M 543.0M 464.7M 382.8M
Non Current Accounts Receivable 4.7M 3.9M 4.2M 4.9M 4.7M
Non Current Deferred Assets 5.0M 2.1M 1.8M 1.7M 1.8M
Non Current Deferred Liabilities 128.5M 108.2M 74.4M 69.0M 57.2M
Non Current Deferred Revenue 25.5M 23.3M 21.4M 17.9M 15.1M
Non Current Deferred Taxes Assets 5.0M 2.1M 1.8M 1.7M 1.8M
Non Current Deferred Taxes Liabilities 103.0M 84.9M 53.0M 51.1M 42.1M
Other Current Borrowings 13.6M 41.6M 37.1M 35.7M 57.4M
Other Properties 269.6M 240.5M 218.3M 205.5M 159.7M
Preferred Securities Outside Stock Equity -- -- -- 233.4M 219.1M
Properties 0.00 0.00 0.00 0.00 0.00
Raw Materials 44.2M 45.3M 38.1M 32.9M 27.3M
Restricted Cash 25.7M 16.1M 19.3M 23.1M 28.6M
Taxes Receivable 22.1M 9.4M 8.8M 20.9M 6.8M
Total Tax Payable 12.7M 8.4M 1.5M 2.8M 2.6M
Work In Process 199.7M 213.8M 181.8M 177.1M 109.4M
Line Item FY 2025Dec 31, 2025 FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Operating Cash Flow 445.9M 285.7M 280.4M 105.9M 167.3M
Cash Flow From Continuing Operating Activities 445.9M 285.7M 280.4M 105.9M 167.3M
Depreciation And Amortization 185.2M 165.3M 127.9M 110.1M 99.0M
Depreciation Amortization Depletion 185.2M 165.3M 127.9M 110.1M 99.0M
Stock Based Compensation 27.4M 25.3M 21.4M 19.0M 15.8M
Deferred Tax 2.5M -14.0M -19.0M 7.4M -2.6M
Deferred Income Tax 2.5M -14.0M -19.0M 7.4M -2.6M
Change In Working Capital 54.3M -39.8M -5.6M -175.1M -78.1M
Changes In Account Receivables 59.6M -42.3M -93.8M -69.7M -86.9M
Change In Receivables 59.6M -42.3M -93.8M -69.7M -86.9M
Change In Inventory 18.1M -19.4M 22.2M -71.5M -15.5M
Change In Payables And Accrued Expense -32.2M 22.6M 19.7M -11.1M -2.8M
Change In Payable -40.7M 20.5M -6.2M -2.3M -15.1M
Change In Other Working Capital 12.4M -9.1M 40.0M 3.8M 18.1M
Change In Other Current Liabilities 21.9M 23.4M 11.2M -26.8M 17.7M
Other Non Cash Items -14.2M -38.9M 13.0M -594,000 -3.0M
Capital Expenditure -127.7M -112.8M -92.7M -77.6M -58.2M
Purchase Of PPE -127.7M -112.8M -92.7M -77.6M -58.2M
Net PPE Purchase And Sale -127.7M -112.8M -85.4M -77.6M -58.2M
Purchase Of Business -107.2M -212.2M -547.2M -52.0M -163.2M
Sale Of Business -- -- -- 0.00 15.8M
Investing Cash Flow -245.2M -323.7M -646.3M -160.8M -206.3M
Cash Flow From Continuing Investing Activities -245.2M -323.7M -646.3M -160.8M -206.3M
Issuance Of Debt 136.0M 367.0M 587.8M 150.2M 130.5M
Repayment Of Debt -350.7M -263.4M -141.0M -70.0M -68.4M
Net Issuance Payments Of Debt -214.7M 103.6M 446.8M 80.2M 62.1M
Issuance Of Capital Stock -- -- -- -- 0.00
Net Common Stock Issuance -- -- -- -- 0.00
Common Stock Dividend Paid -48.9M -43.8M -39.1M -34.9M -31.2M
Financing Cash Flow -263.3M 74.4M 413.9M 18.8M 24.4M
Cash Flow From Continuing Financing Activities -263.3M 74.4M 413.9M 18.8M 24.4M
Effect Of Exchange Rate Changes -1.0M 429,000 -447,000 1.2M -47,000
Changes In Cash -62.6M 36.4M 48.0M -36.1M -14.6M
Beginning Cash Position 243.7M 206.9M 159.3M 194.3M 208.9M
End Cash Position 180.1M 243.7M 206.9M 159.3M 194.3M
Free Cash Flow 318.2M 172.9M 187.6M 28.3M 109.1M
Income Tax Paid Supplemental Data -- 82.3M 64.6M 55.1M 60.1M
Interest Paid Supplemental Data -- 77.4M 49.7M 23.7M 14.6M
Amortization Cash Flow 77.2M 72.4M 54.2M 48.7M 43.9M
Amortization Of Intangibles 77.2M 72.4M 54.2M 48.7M 43.9M
Cash Dividends Paid -48.9M -43.8M -39.1M -34.9M -31.2M
Change In Account Payable -32.4M 14.2M -17.1M 11.5M -10.4M
Change In Accrued Expense 8.6M 2.1M 25.9M -8.8M 12.3M
Change In Income Tax Payable -8.3M 6.3M 10.8M -13.8M -4.8M
Change In Prepaid Assets -25.5M -15.0M -4.8M 266,000 -8.6M
Change In Tax Payable -8.3M 6.3M 10.8M -13.8M -4.8M
Common Stock Issuance -- -- -- -- 0.00
Depreciation 108.0M 92.9M 73.7M 61.4M 55.1M
Gain Loss On Sale Of Business -- -- -- 0.00 -12.5M
Gain Loss On Sale Of PPE -- 0.00 -4.4M 0.00 -7.3M
Long Term Debt Issuance 136.0M 367.0M 587.8M 150.2M 130.5M
Long Term Debt Payments -350.7M -263.4M -141.0M -70.0M -68.4M
Net Business Purchase And Sale -107.2M -212.2M -547.2M -52.0M -147.4M
Net Income From Continuing Operations 190.7M 187.8M 147.0M 145.0M 156.1M
Net Long Term Debt Issuance -214.7M 103.6M 446.8M 80.2M 62.1M
Net Other Financing Charges -61.8M -43.7M -27.5M -38.8M -28.0M
Net Other Investing Changes -10.3M 1.3M -13.8M -31.2M -675,000
Operating Gains Losses -- -- -4.4M -- -19.8M
Proceeds From Stock Option Exercised 62.0M 58.4M 33.6M 12.3M 21.6M
Sale Of PPE -- 0.00 7.3M 0.00 --
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