Firstservice Corp · TSX:FSV
Firstservice — Investor Presentation (July 2026)
23 slides from Firstservice's investor presentation, July 2026
Slide 1: FirstService Corporation Investors Presentation July 2026
FirstService Corporation Investors Presentation July 2026
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements included herein constitute “forward‐looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward‐looking statements involve known and unknown risks, uncertainties and other factors which may cause the
Slide 3: FirstService Corporation Overview
FirstService Corporation Overview Leader in essential outsourced property services in Revenue by Division (TTM)(1) U.S. and Canada FirstService Residential: Largest provider of residential community and amenity management 58% services FirstService Brands: One of the largest providers of 42% es
Slide 4: Proven Business Model
Proven Business Model 10% annual average top-line growth; driven equally by Strategic Focus organic growth and tuck-under acquisitions Modest yet leading market shares; significant room Leader in Very Large Markets for further growth Service Excellence Culture Strong client retention; repeat busines
Slide 5: Three Decades of Consistent Growth
Three Decades of Consistent Growth 30 Years Revenue Compounded Annual Growth: 18% Organic Growth: >50% $5,498MM $37MM '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 5
Slide 6: FirstService Residential – What We Do
FirstService Residential – What We Do Management Contracts Broad Range of Services Condominiums / Co- Traditional On-Site Staff Transaction Operatives Property Facility Transfers & Management Maintenance & Disclosures; Homeowner Engineering Collections Development Associations Consulting
Slide 7: FirstService Residential – Profile
FirstService Residential – Profile Scale enhances 2025 Revenues: $2.3BN competitive position Diversified clients & No. of Communities: 9,500+ total (3,800 high-rise condos) properties with specialized operating expertise Sticky customer base; Contract Retention Mid-90%+ Consistent cash flow Rate: pr
Slide 8: FirstService Residential – Diversified Operations
FirstService Residential – Diversified Operations Breakdown by Property Type 2025 Revenue By Region ($2.3BN Total) Life-style Other 4% 3% Low-Rise North Condo 20% South 21% High-Rise 31% Condo West 38% 17% Master Planned Single Family East HOA 32% 34% 2025 Revenue By Service ($2.3BN Total) Transacti
Slide 9: FirstService Residential – Condo/HOA Market Opportunity
FirstService Residential – Condo/HOA Market Opportunity Total # of community associations: 400,000 We Have ~6-8% Share in a Sizeable Market(1) Total # of housing units: 32MM Percent of self-managed community associations: 35% Conversion Opportunity Percent of U.S. homes in community associations: 35
Slide 10: FirstService Brands – What We Do
FirstService Brands – What We Do Leading provider of eight branded essential property services to commercial and residential customers across four verticals Restoration Roofing 2025 Revenue Breakdown ($3.2BN) Home Services 18% Restoration 42% Roofing 20% Fire Protection 20% Fire Protection Home Serv
Slide 11: Restoration Profile
Restoration Profile Operating Metrics $2.5BN System-Wide Sales 2025 Revenues $1.4BN Company-Owned No. of Branches 516 (144 Owned; 372 Franchised) Geography North America-Wide No. of Employees 3,750 80% Commercial Segmentation 80% Residential Market Growth Drivers • Increasing frequency of recurring
Slide 12: Roofing Profile
Roofing Profile Operating Metrics 2025 Revenues $650MM No. of Branches 27 Sun Belt, Mid-Atlantic, Midwest, Geography West U.S. Regions No. of Employees 2,150 90% Commercial; 10% Residential Segmentation 2/3 Re-Roof/Repair; 1/3 New Roof Market Growth Drivers • Replacement cycles and preventative repa
Slide 13: Fire Protection Profile
Fire Protection Profile Operating Metrics 2025 Revenues $640MM No. of Branches 41 Southeast, Mid-Atlantic, Upper Geography Mid-West U.S. Regions No. of Employees 2,100 50% Sprinkler/Alarm Installation Segmentation 50% Repair/Service/Inspection Market Growth Drivers • Increasing fire code regulation
Slide 14: Home Services Profile
Home Services Profile Operating Metrics $1.75BN System-Wide Sales 2025 Revenues $560MM Company-Owned 25 Owned No. of Branches 1,122 Franchises Geography North America-Wide No. of Employees 2,000 Market Growth Drivers • Home improvement spending • Housing prices and home equity • Existing home sales
Slide 15: FirstService – Leaders in Huge Markets
FirstService – Leaders in Huge Markets Brand U.S. Market Our Position Market Share $30 Bn #1 7.5% $60 Bn #2 4% $45 Bn #3 1.5% #1 $12 Bn 5% (Southeast U.S.) $50 Bn #1 1% $6 Bn #1 12% #1 $65 Bn <1% (Franchised) $3 Bn #1 3% 15
Slide 16: Growth Strategy
Growth Strategy Organic Growth Acquisition Growth 1 1 Focus on Customer Retention, Expand Maintenance, Repair and Restoration Repeat & Referral Services to Commercial Built Environment 2 2 New Geographies; In-Market Tuck-Unders Leverage Differentiators to Drive New Business 3 Property Management Anc
Slide 17: Strong Historical Performance
Strong Historical Performance Revenues Adjusted EBITDA(1) ($ in millions) ($ in millions) Recurring revenue model with strong organic …with comparable operating cash flow and growth underpinning top-line performance… earnings growth (1) Adjusted EBITDA as presented above is a non-GAAP measure. Inves
Slide 18: Strong Historical Performance (cont’d)
Strong Historical Performance (cont’d) Adjusted EPS(1) Annual Dividends (US$) (US$) …205% cumulative dividend growth Strong earnings growth has also supported… since 2015 (1) Adjusted EPS as presented above is a non-GAAP measure. Investors should consider non-GAAP measures in addition to, not as a s
Slide 19: YTD Performance – Q2/26 and 6 Mos. Vs. Prior Year
YTD Performance – Q2/26 and 6 Mos. Vs. Prior Year Revenue – Q2 vs. Prior Year Adjusted EBITDA(1) – Q2 vs. Prior Year ($ in millions) ($ in millions) $1,449 $157.1 $161.7 $1,416 11.1% 11.2% Q2/25 Q2/26 Q2/25 Q2/26 Revenue – 6 Months YTD vs. Prior Year Adjusted EBITDA(1) – 6 Months YTD vs. Prior Year
Slide 20: Capital Structure Summary
Capital Structure Summary Attractive Unsecured Lending Arrangements $1.75BN Bank Credit Facility (+$250MM Accordion) (5-Yr Term Expiring Feb/30) $60MM Senior Notes – 4.5% coupon, long-term maturity (2032) $125MM Senior Notes ~5.5% coupon area, long term maturity (2029 – 2031) Leverage and Liqu
Slide 21: FirstService – A Compelling Investment Opportunity
FirstService – A Compelling Investment Opportunity Leader in large and highly fragmented essential, outsourced property services markets Market Leadership Position Scale advantage, proprietary products / services and national coverage are competitive differentiators which are difficult to replic
Slide 22: Appendix: Reconciliation of GAAP Earnings to Adjusted EBITDA
Appendix Reconciliation of GAAP Earnings to Adjusted EBITDA Three months ended Six months ended Six months ended (in thousands of US dollars) June 30 June 30 July 1 - December 31 2026 2025 2026 2025 2025 Net earnings $ 60,930 $ 55,431 $ 84,553 $ 69,511 $ 121,236 Income tax 22,612 23,677 31,357 29,67
Slide 23: Appendix: Reconciliation to Adjusted Net Earnings and Adjusted EPS
Appendix Reconciliation of GAAP Earnings to Adjusted Net Earnings and Adjusted Earnings Per Share Three months ended Six months ended (in thousands of US dollars) June 30 June 30 2026 2025 2026 2025 Net earnings $ 60,930 $ 55,431 $ 84,553 $ 69,511 Non-controlling interest share of earnings (6,064) (