First Industrial Realty Trust, Inc. (FR) vs FirstService Corporation (FSV)
A side-by-side comparison of First Industrial Realty Trust, Inc. and FirstService Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 6, 2026. Differences are shown without an overall score or investment verdict.
Total return — FR vs FSV
growth of $100 · dividends reinvested · last 10yFR vs FSV: by the numbers
- •FR is the larger company ($7.90B vs $5.97B market cap).
- •FR converts more revenue to profit (47.96% vs 2.88% net margin).
- •FSV grew revenue faster over the past five years (12.78% vs 10.47% CAGR).
- •FR pays the higher dividend yield (3.19% vs 0.90%).
Metrics side by side
Valuation
| Metric | FR | FSV |
|---|---|---|
| P/E ratio | 21.76 | 37.19 |
| Forward P/E | 23.42 | 21.45 |
| PEG ratio | 5.31 | 3.97 |
| P/S ratio | 10.40 | 1.07 |
| P/B ratio | 2.85 | 4.90 |
| EV / EBITDA | 20.45 | 13.57 |
| FCF yield | 5.19% | 5.66% |
For REITs like First Industrial Realty Trust, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | FR | FSV |
|---|---|---|
| Gross margin | 22.60% | 29.84% |
| Operating margin | 41.59% | 6.24% |
| Net margin | 47.96% | 2.88% |
| ROE | 13.12% | 13.21% |
| ROIC | 5.63% | 7.32% |
Dividends
| Metric | FR | FSV |
|---|---|---|
| Dividend yield | 3.19% | 0.90% |
| Payout ratio | 68.98% | 33.24% |
First Industrial Realty Trust, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | FR | FSV |
|---|---|---|
| Revenue CAGR (5Y) | 10.47% | 12.78% |
| EPS CAGR (5Y) | 4.10% | 9.22% |
| FCF CAGR (5Y) | N/A | 12.06% |
| Total return CAGR (5Y) | 5.06% | -5.96% |
Frequently asked
- Which has grown faster, FR or FSV?
- Over the past five years, FSV grew revenue faster — FR at a 10.47% CAGR versus FSV at 12.78%.
- Does FR or FSV pay a bigger dividend?
- FR yields 3.19% and FSV yields 0.90% based on trailing dividends and the latest price.
- Is FR or FSV more profitable?
- FR runs the higher net margin — FR at 47.96% versus FSV at 2.88%.
- How have FR and FSV total returns compared?
- Over the past 10 years, FR delivered 11.46% and FSV delivered 11.71% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
First Industrial Realty Trust & FirstService appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 6, 2026.