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FirstServiceTSX:FSV +0.10%85 EV-to-FCF is 23.16 as of Jul. 14, 2026, which is 50% below its 10-year median of 46.23. GuruFocus rates TSX:FSV with a GF Score™ of 85/100 and a GF Value™ of C$277.78 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,095 Real Estate companies, FirstService ranks worse than 56.44% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, FirstService's Enterprise Value is C$11,664 Mil.
FirstService's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was C$504 Mil. Therefore, FirstService's EV-to-FCF for today is 23.16.
The historical rank and industry rank for FirstService's EV-to-FCF or its related term are showing as below:
TSX:FSV'
s EV-to-FCF Range Over the Past 10 Years
Min: 20.77 Med: 46.23 Max: 616.14
Current: 23.16
During the past 13 years, the highest EV-to-FCF of FirstService was 616.14. The lowest was 20.77. And the median was 46.23.
TSX:FSV's EV-to-FCF is ranked worse than 56.44% of 1095
companies
in the Real Estate industry
Industry Median: 19.2
vs TSX:FSV: 23.16
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
FirstService's PE Ratio (TTM) for today is calculated as:
FirstService's share price for today is C$203.14.
FirstService's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was C$4.872.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
FirstService EV-to-FCF Related Terms
FirstService EV-to-FCF Historical Data
* Premium members only.
The historical data trend for FirstService's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Real Estate Services subindustry, FirstService's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
FirstService EV-to-FCF vs Real Estate Industry
For the Real Estate industry and Real Estate sector, FirstService's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where FirstService's EV-to-FCF falls into.
FirstService's current Enterprise Value is C$11,664 Mil.
FirstService's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was C$504 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FirstService (TSX:FSV) has a EV-to-FCF of 23.16 as of Jul. 14, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on FirstService and its competitors. This is 50% below median its historical median of 46.23. Over the past decade, FirstService's EV-to-FCF has ranged from 20.77 to 616.14. According to the industry distribution chart, FirstService ranks #618 out of 1095 companies in the Real Estate industry, placing it in the top 56.4%.
Is FirstService's EV-to-FCF too high?
FirstService's current EV-to-FCF of 23.16 is 50% below median its 10-year median of 46.23. Over the past 10 years, this metric has ranged from a low of 20.77 to a high of 616.14. The Real Estate industry median EV-to-FCF is 19.20. FirstService's value of 23.16 is 20.6% above this industry median. Based on the distribution chart, FirstService ranks #618 out of 1095 companies in the Real Estate industry, which is below the industry midpoint. Overall, FirstService has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does FirstService's EV-to-FCF compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, FirstService ranks #618 out of 1095 companies for EV-to-FCF. This places FirstService in the lower half of its industry. The industry median EV-to-FCF is 19.20. FirstService's value of 23.16 is 20.6% above this benchmark. Historically, FirstService's own EV-to-FCF has ranged from 20.77 to 616.14 over the past decade. While the company's 10-year median is 46.23 vs. the industry median of 19.20, FirstService has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Real Estate company?
The median EV-to-FCF among Real Estate companies is 19.20, based on 1,095 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. FirstService's current EV-to-FCF of 23.16 is 20.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on FirstService and its competitors. For the Real Estate industry, the median EV-to-FCF is 19.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. FirstService's current EV-to-FCF is 23.16, which is 50% below median its own 10-year median of 46.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FirstService stock overvalued right now?
Based on GuruFocus' analysis, FirstService (TSX:FSV) is currently considered Modestly Undervalued. The stock's GF Value™ is C$277.78, compared to a current price of C$203.14 — trading 26.9% below its estimated fair value. The current EV-to-FCF is 23.16, which is 50% below median its 10-year median of 46.23 and 20.6% above the Real Estate industry median of 19.20. FirstService's overall GF Score™ is 85/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For FirstService (TSX:FSV), the current EV-to-FCF is 23.16 as of Jul. 14, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is FirstService (TSX:FSV) Overvalued in 2026?
Based on GuruFocus' analysis, FirstService stock appears to be undervalued.
The current stock price of C$203.14 is trading 26.9% below its estimated GF Value™ of C$277.78.
GuruFocus considers FirstService to be Modestly Undervalued.
Key valuation signals for TSX:FSV:
EV-to-FCF: 23.16 (50% below median its 10-year median of 46.23)
GF Value™: C$277.78 vs. price of C$203.14 (26.9% below fair value)
Industry Position: 20.6% above the Real Estate median (#618 of 1095)
No single metric tells the full story. See the TSX:FSV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
FirstService Corp is engaged in outsourcing property services. The company operates in two business divisions: FirstService Residential and FirstService Brands. FirstService Residential has service contracts to manage thousands of residential communities, including high and low-rise condominiums and co-operatives. FirstService Brands generates the majority of the company's revenue and provides property services to residential and commercial customers through the following brands: California Closets; Paul Davis Restoration; CertaPro Painters, Floor Coverings International, and Pillar to Post Home Inspectors. The company earns the majority of its revenue in the United States, with the remaining revenue generated in Canada.
85GF Score
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