How FirstService makes money

Period

FY2025

How does FirstService make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

FirstService Corporation · FY2025 · year ended 2025-12-31

Revenue$5.5BGross profit$5.5B · 100%Cost of revenue$0 · 0%Operating income$338M · 6%Operating expenses$5.2B · 94%SG&A$1.3B · 24%Other opex$3.8B · 70%Pre-tax income$267M · 5%Other expense$72M · 1%Net income$191M · 3%Income tax$76M · 1%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.