Discounted Cash Flow

Firstservice Corp. Foreign

FSV · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $1.5b $33.6m $79.9m 2.3% $0.93
2017 $1.7b (15.0%) $53.1m (58.0%) $79.4m (-0.6%) 3.1% (37.4%) $1.48 (59.1%)
2018 $1.9b (13.3%) $65.9m (24.1%) $58.9m (-25.8%) 3.4% (9.6%) $1.83 (23.6%)
2019 $2.4b (24.6%) $-251.6m (-482.0%) $61.2m (3.9%) -10.5% (-406.5%) $-6.58 (-459.6%)
2020 $2.8b (15.2%) $87.3m (134.7%) $252.3m (312.5%) 3.1% (130.1%) $2.04 (131.0%)
2021 $3.2b (17.2%) $135.2m (55.0%) $109.1m (-56.8%) 4.2% (32.2%) $3.08 (51.0%)
2022 $3.7b (15.3%) $121.1m (-10.5%) $28.3m (-74.1%) 3.2% (-22.3%) $2.74 (-11.0%)
2023 $4.3b (15.7%) $100.4m (-17.1%) $187.6m (563.4%) 2.3% (-28.3%) $2.25 (-17.9%)
2024 $5.2b (20.4%) $134.4m (33.9%) $172.9m (-7.9%) 2.6% (11.2%) $2.98 (32.4%)
2025 $5.5b (5.4%) $145.0m (7.9%) $318.2m (84.1%) 2.6% (2.4%) $3.19 (7.0%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model