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Firstservice Corp T.FSV

Alternate Symbol(s):  FSV

FirstService Corporation is a provider of residential property management and other property services to residential and commercial customers. Its segments include FirstService Residential and FirstService Brands. FirstService Residential segment provides a range of ancillary services in the areas: on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, banking and insurance products, and energy conservation and management solutions. FirstService Brands segment provides a range of essential property services to residential and commercial customers in North America through franchise networks and Company-owned locations. The principal brands in this division include Paul Davis Restoration, First Onsite Property Restoration, California Closets, Century Fire Protection, CertaPro Painters, Pillar to Post Home Inspectors, and Floor Coverings International. It also provides commercial roofing services.


TSX:FSV - Post by User

Firstservice Corp
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Post by Possibleidiot01on Oct 27, 2023 9:16pm
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Post# 35705276

Trevor Rose's Insights - BUY

Trevor Rose's Insights - BUY
BUY

Firstservice Corp(FSV-Q)

27/10/2023
Firstservice Corp
 
Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research

FSV is now trading at 27.6x times forward P/E. In the 3Q, FSV’s revenue grew 16% to $1.12B (with 10% organic growth), beating estimates of $1.07B and EPS was $1.25, slightly missing estimates of $1.27. The balance sheet is strong, with net debt of $867M and a net debt/EBITDA of 1.9x. The company pays minimal dividends and continues to reinvest heavily through acquisitions. Overall, we think this was a pretty good quarter amid a challenging operating environment, quite consistent with previous trends. We continue to see FSV as a high-quality name in the real estate service field, with solid free cash flow generation, low capex, a strong balance sheet, and a targeted annual growth rate of around 10% going forward; we like the stock.
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