FirstService Corporation (FSV) vs NNN REIT, Inc. (NNN)
A side-by-side comparison of FirstService Corporation and NNN REIT, Inc. 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 — FSV vs NNN
growth of $100 · dividends reinvested · last 10yFSV vs NNN: by the numbers
- •NNN is the larger company ($7.69B vs $5.92B market cap).
- •NNN converts more revenue to profit (40.35% vs 2.88% net margin).
- •FSV grew revenue faster over the past five years (12.78% vs 6.97% CAGR).
- •NNN pays the higher dividend yield (5.99% vs 0.90%).
Metrics side by side
Valuation
| Metric | FSV | NNN |
|---|---|---|
| P/E ratio | 36.86 | 19.82 |
| Forward P/E | 21.27 | 19.65 |
| PEG ratio | 3.94 | 1.78 |
| P/S ratio | 1.06 | 8.07 |
| P/B ratio | 4.86 | 1.72 |
| EV / EBITDA | 13.48 | 14.61 |
| FCF yield | 5.71% | 3.17% |
For REITs like NNN REIT, 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 | FSV | NNN |
|---|---|---|
| Gross margin | 29.84% | 38.00% |
| Operating margin | 6.24% | 62.03% |
| Net margin | 2.88% | 40.35% |
| ROE | 13.21% | 8.62% |
| ROIC | 7.32% | 6.18% |
Dividends
| Metric | FSV | NNN |
|---|---|---|
| Dividend yield | 0.90% | 5.99% |
| Payout ratio | 33.24% | 118.63% |
NNN REIT, 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 | FSV | NNN |
|---|---|---|
| Revenue CAGR (5Y) | 12.78% | 6.97% |
| EPS CAGR (5Y) | 9.22% | 11.15% |
| FCF CAGR (5Y) | 12.06% | 8.18% |
| Total return CAGR (5Y) | -5.96% | 3.48% |
Frequently asked
- Which has grown faster, FSV or NNN?
- Over the past five years, FSV grew revenue faster — FSV at a 12.78% CAGR versus NNN at 6.97%.
- Does FSV or NNN pay a bigger dividend?
- FSV yields 0.90% and NNN yields 5.99% based on trailing dividends and the latest price.
- Is FSV or NNN more profitable?
- NNN runs the higher net margin — FSV at 2.88% versus NNN at 40.35%.
- How have FSV and NNN total returns compared?
- Over the past 10 years, FSV delivered 11.71% and NNN delivered 3.39% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
FirstService & NNN REIT 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.