FirstService Corporation: Business Overview, Financials & Competitive Analysis
FirstService Corporation scores 7/10 on the AskCyborg Cyborg Score (Strong). Defensive property services compounder with recurring revenue, margin expansion potential, and strategic market share gains, though facing near-term cyclical headwinds. The company reported full-year 2025 revenue of $5.5 billion (up 5%) with adjusted EBITDA of $563 million (up 10%) and margin improvement to 10.2% from 9.8%. The company raised its.
What is FirstService Corporation's industry? FirstService Corporation (firstservice.com) operates in Property Management & Specialty Services. AskCyborg classifies FirstService Corporation under Property Management & Specialty Services in its company registry.
FirstService Corporation provides residential property management and other essential property services to residential and commercial customers in the United States and Canada through two segments: FirstService Reside...
Cyborg Score thesis
Defensive property services compounder with recurring revenue, margin expansion potential, and strategic market share gains,...
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Pro stress-test →FirstService Corporation provides residential property management and other essential property services to residential and commercial customers in the United States and Canada through two segments: FirstService Residential and FirstService Brands. The company is a leading North American provider of essential property management and specialty services with a defensive, recurring revenue model serving aging infrastructure and weather-driven demand.
Strategic Profile
Pro stress-test →FirstService Brands leverages a hybrid model of company-owned operations and franchise networks that provides capital-efficient expansion, as franchisees fund local growth while FirstService captures royalty streams and system-wide sales data. In restoration, the national accounts program built through relationships with insurance carriers creates a sticky revenue base that performs even in mild weather conditions, with the company capturing market share gains through these relationships.
Competitive Landscape
Pro stress-test →Competitive M&A activity is particularly intense in fire protection and residential management where dozens of private equity-owned platforms are active, with multiples trending higher. The company competes through brand-building, cultural fit, and scale benefits including purchasing power and vendor relationships. Main competitors include regional and national property management and restoration service providers.
Industry Context
FirstService Corporation operates in Property Management & Specialty Services.
Key facts
Founded: 1988 · Headquarters: Toronto, Canada · Revenue: $5.5B