FirstService Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	145.05	134.38	100.39	121.07	135.21
Depreciation & Amortization	185.21	165.27	127.93	110.14	98.97
Loss (Gain) From Sale of Assets	-	-	-4.35	-	-19.81
Stock-Based Compensation	-	25.31	21.39	18.97	15.76
Other Operating Activities	61.36	19.91	44.96	30.78	28.54
Change in Accounts Receivable	59.59	-42.31	-93.82	-69.67	-86.94
Change in Inventory	-	-19.41	22.24	-71.52	-15.51
Change in Accounts Payable	-32.15	14.22	-17.06	11.55	-10.36
Change in Unearned Revenue	-	-9.13	39.96	3.82	18.08
Change in Income Taxes	-	6.29	10.82	-13.82	-4.78
Change in Other Net Operating Assets	26.89	-8.85	27.91	-35.42	8.13
Operating Cash Flow	445.94	285.67	280.36	105.89	167.27
Operating Cash Flow Growth	56.10%	1.90%	164.76%	-36.69%	-42.67%
Capital Expenditures	-127.71	-112.8	-92.73	-77.61	-58.2
Sale of Property, Plant & Equipment	-	-	7.35	-	-
Cash Acquisitions	-107.16	-212.25	-547.18	-51.99	-163.22
Divestitures	-	-	-	-	15.78
Other Investing Activities	-10.33	1.34	-13.76	-31.2	-0.68
Investing Cash Flow	-245.2	-323.7	-646.33	-160.8	-206.32
Long-Term Debt Issued	-	367	587.85	150.16	130.48
Long-Term Debt Repaid	-214.73	-263.42	-141	-70	-68.42
Net Debt Issued (Repaid)	-214.73	103.58	446.85	80.16	62.06
Issuance of Common Stock	-	58.35	33.62	12.3	21.58
Common Dividends Paid	-48.89	-43.83	-39.06	-34.88	-31.21
Other Financing Activities	0.29	-43.7	-27.46	-38.79	-28
Financing Cash Flow	-263.33	74.41	413.95	18.78	24.43
Foreign Exchange Rate Adjustments	-1.01	0.43	-0.45	1.2	-0.05
Net Cash Flow	-63.6	36.81	47.53	-34.92	-14.67
Free Cash Flow	318.24	172.88	187.63	28.28	109.07
Free Cash Flow Growth	84.08%	-7.86%	563.36%	-74.07%	-56.78%
Free Cash Flow Margin	5.79%	3.31%	4.33%	0.76%	3.36%
Free Cash Flow Per Share	6.96	3.82	4.19	0.64	2.46
Cash Interest Paid	-	77.39	49.72	23.69	14.63
Cash Income Tax Paid	-	82.31	64.65	55.11	60.09
Levered Free Cash Flow	266.02	142.91	123.32	40.08	76.08
Unlevered Free Cash Flow	312.08	194.7	152.92	55.83	86.1
Change in Working Capital	54.33	-59.19	-9.96	-175.06	-91.39

Updated Feb 4, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q