Colliers International Group Inc (CIGI) is overvalued and FirstService Corp (FSV) is overvalued.
Both trade above our estimate of their intrinsic value. CIGI is the closer of the two: -31%, against -41% for FSV.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.1% (average of 3 methods) values the shares at $70.38; the price of $92.45 is 31% above that value, and 80% of that value comes from beyond year five.
Leak Score 0/100 on 3 of 12 signals
Discounting its cash flows at 8.7% (average of 3 methods) values the shares at $94.25; the price of $133.34 is 41% above that value, and 78% of that value comes from beyond year five.
Leak Score 14/100 on 3 of 12 signals
| Metric | CIGI | FSV |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $92.45 | $133.34 |
| Intrinsic value | $70.38 | $94.25 |
| Margin of safety | -31% | -41% |
| Leak Score | 0/100 (3/12) | 14/100 (3/12) |
| Market cap | $4.7B | $6.1B |
| Revenue growth, 5 years | 14.8% | 14.7% |
| Operating margin | 7.1% | 6.2% |
| Net margin | 1.8% | 2.9% |
| Return on equity | 7.4% | 13.1% |
| Debt to equity | 2.15 | 1.28 |
| P/E | 44.0x | 37.8x |
| Forward P/E | 10.9x | 19.9x |
| P/B | 3.1x | 4.8x |
| Dividend yield | 0.3% | 0.9% |