FirstService (FSV) Operating Expenses (2014 - 2026)

On a TTM basis, FirstService's Operating Expenses came in at $1.44 billion as of Jun 30, 2026, up 4.8% year-over-year; for the year ended Dec 31, 2025, it was $1.43 billion, up 9.4% from the prior year.

• Annual Operating Expenses has increased for 12 straight years, with a five-year compound annual growth rate of 15.9% (years ended Dec 2020 to Dec 2025).
• Across earlier years, Operating Expenses came in at $1.31 billion in the year ended Dec 31, 2024 (+20.2%), $1.09 billion in the year ended Dec 31, 2023 (+19.3%), $912.36 million in the year ended Dec 31, 2022 (+13.9%) and $800.7 million in the year ended Dec 31, 2021 (+16.9%).
• Quarterly Operating Expenses has ranged from $198.03 million in the quarter ended Sep 30, 2021 to $363.93 million in the quarter ended Mar 31, 2026 over the past five years.
• On a year-over-year basis, Operating Expenses rose in seven of the last eight quarters, with growth averaging 9.7%.
• Peak year-over-year performance for Operating Expenses in the last five years was growth of 23.7% in the quarter ended Mar 31, 2022, against a decline of 1.1% in the quarter ended Jun 30, 2026 at the low end.
• Per Business Quant, the preceding three quarters came in at $363.93 million (quarter ended Mar 31, 2026), $363.18 million (quarter ended Dec 31, 2025) and $352.69 million (quarter ended Sep 30, 2025).