FirstService Corp
firstservice.comHow Do They Make Money?
FY2025 revenue by reportable segment
revenue
Revenue, FY2025
$5.5B
Sources
-
40-F for FY2025, filed Feb 20, 2026
$5.5B ↗
| Segment | Share | Revenue |
|---|---|---|
|
FirstService Residential Segment
|
42%
FY2022: 47%
|
FirstService Residential Segment, FY2025
$2.3B Sources
|
|
FirstService Brands Segment
|
58%
FY2022: 53%
|
FirstService Brands Segment, FY2025
$3.2B Sources
|
|
Corporate Segment
|
0.0%
FY2022: 0.0%
|
Corporate Segment, FY2025
$0 Sources
|
Do Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2025 and turned 6 cents into free cash flow.
40-F for FY2025, filed Feb 20, 2026
Sources
Operating income, FY2025
Sources
40-F for FY2025, filed Feb 20, 2026
$338.1MView ↗
▲ 0%
vs FY2024 ($337.5M, 6%)
Net income, FY2025
Sources
40-F for FY2025, filed Feb 20, 2026
$190.7MView ↗
▲ +2%
vs FY2024 ($187.8M, 4%)
Free cash flow, FY2025
Sources
40-F for FY2025, filed Feb 20, 2026
$318.2MView ↗
▲ +84%
vs FY2024 ($172.9M, 3%)
How Are They Changing?
Growing. Revenue grew 69% in 4 years, from $3.2B in FY2021 to $5.5B in FY2025, about 14% a year.
Revenue over time
FirstService Residential Segment
FirstService Brands Segment
Corporate Segment
$10B$5B$0
$1.6B
$1.7B
$1.8B
$2B
$2B
$2.3B
$2.1B
$3.1B
$2.3B
$3.2B
100%50%0%
49%
51%
47%
53%
46%
54%
41%
59%
42%
58%
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