FirstService Corporation (FSV)

FirstService Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	147.17	145.05	134.38	100.39	121.07	135.21
Depreciation & Amortization	198.32	185.21	165.27	127.93	110.14	98.97
Loss (Gain) From Sale of Assets	-	-	-	-4.35	-	-19.81
Stock-Based Compensation	27.39	27.39	25.31	21.39	18.97	15.76
Other Operating Activities	29.82	33.97	0.55	44.96	30.78	28.54
Change in Accounts Receivable	24.41	59.59	-42.31	-93.82	-69.67	-86.94
Change in Inventory	18.13	18.13	-19.41	22.24	-71.52	-15.51
Change in Accounts Payable	51.84	-32.4	14.22	-17.06	11.55	-10.36
Change in Unearned Revenue	12.39	12.39	-9.13	39.96	3.82	18.08
Change in Income Taxes	-8.34	-8.34	6.29	10.82	-13.82	-4.78
Change in Other Net Operating Assets	-83.47	4.96	10.51	27.91	-35.42	8.13
Operating Cash Flow	417.64	445.94	285.67	280.36	105.89	167.27
Operating Cash Flow Growth	0.11%	56.10%	1.90%	164.76%	-36.69%	-42.67%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-119.2	-127.71	-112.8	-92.73	-77.61	-58.2
Sale of Property, Plant & Equipment	-	-	-	7.35	-	-
Cash Acquisitions	-83.97	-107.16	-212.25	-547.18	-51.99	-163.22
Divestitures	-	-	-	-	-	15.78
Other Investing Activities	2.31	-10.33	1.34	-13.76	-31.2	-0.68
Investing Cash Flow	-200.86	-245.2	-323.7	-646.33	-160.8	-206.32

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	135.96	367	587.85	150.16	130.48
Long-Term Debt Repaid	-	-350.69	-263.42	-141	-70	-68.42
Net Debt Issued (Repaid)	349.11	-214.73	103.58	446.85	80.16	62.06
Issuance of Common Stock	62.04	62.04	58.35	33.62	12.3	21.58
Repurchase of Common Stock	-560.01	-	-	-	-	-
Common Dividends Paid	-52.64	-48.89	-43.83	-39.06	-34.88	-31.21
Other Financing Activities	-75.14	-61.75	-43.7	-27.46	-38.79	-28
Financing Cash Flow	-276.64	-263.33	74.41	413.95	18.78	24.43

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	0.15	-1.01	0.43	-0.45	1.2	-0.05
Net Cash Flow	-59.7	-63.6	36.81	47.53	-34.92	-14.67

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	298.44	318.24	172.88	187.63	28.28	109.07
Free Cash Flow Growth	3.39%	84.08%	-7.86%	563.36%	-74.07%	-56.78%
Free Cash Flow Margin	5.25%	5.79%	3.31%	4.33%	0.76%	3.36%
Free Cash Flow Per Share	6.62	6.96	3.82	4.19	0.64	2.46
Levered Free Cash Flow	263.57	293.41	142.91	123.32	40.08	76.08
Unlevered Free Cash Flow	305.28	339.47	194.7	152.92	55.83	86.1

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	73.31	73.31	77.39	49.72	23.69	14.63
Cash Income Tax Paid	82.39	82.39	82.31	64.65	55.11	60.09
Change in Working Capital	14.95	54.33	-39.83	-9.96	-175.06	-91.39

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Oct 22, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Oct 23, 2026

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