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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)20232022202120202019
Operations
  
Revenues$4,334,548$3,745,835$3,249,072$2,772,415$2,407,410
Operating earnings (loss)$244,892$219,026$201,642$169,412($174,419)
Net earnings (loss)$147,021$145,007$156,130$109,590($227,631)
Financial position
  
Total assets$3,625,743$2,774,514$2,509,023$2,196,540$1,955,469
Long-term debt$1,182,107$734,463$652,804$589,604$766,623
Redeemable non-controlling interests$332,963$233,429$219,135$193,034$174,662
Shareholders’ equity$1,024,146$907,466$799,722$660,398$425,887
Common share data
  
Net earnings (loss) per common share:  
Basic$2.25$2.74$3.08$2.04($6.58)
Diluted$2.24$2.72$3.05$2.02($6.58)
Weighted average common shares
  outstanding (thousands)		  
Basic44,55644,17543,84142,75638,225
Diluted44,79544,49444,40143,18438,662
Cash dividends per common share$0.90$0.81$0.73$0.66$0.60
Other data
  
Adjusted EBITDA1,3$415,728$351,732$327,376$283,722$235,182
Adjusted EPS2,3$4.66$4.24$4.57$3.46$3.00

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

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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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