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Brookfield Property Partners vs FirstService: revenue, profit, margins and growth compared

Brookfield Property Partners brought in $7.1B of revenue in fiscal 2025, FirstService $5.5B in fiscal 2025. Revenue changed by -21.6% at Brookfield Property Partners and +5.4% at FirstService on the year before, so FirstService grew faster. Brookfield Property Partners kept -4.3% of its revenue as net profit, FirstService 2.6%. Free cash flow was -$1.4B at Brookfield Property Partners and $318.2M at FirstService.

Side by side, latest fiscal year

BPYPPFSV
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$7.1B$5.5B
Revenue growth-21.6%+5.4%
Net income-$305M$145M
Net margin-4.3%2.6%
Free cash flow-$1.4B$318.2M
Free cash flow margin-18.9%5.8%
Earnings per share (diluted)n/a$3.17
Cash$1.9B$154.4M
Debt$46.3B$1.1B
Price to earningsn/an/a
Market value$18.6B$5.6B
Dividend yieldn/an/a
Rank by revenue in sector#77 of 444 · Finance#95 of 444 · Finance

Over the years

Revenue
BPYPP FY2018: $7.2BBPYPP FY2019: $8.2BBPYPP FY2020: $6.6BBPYPP FY2021: $7.1BBPYPP FY2022: $7.4BBPYPP FY2023: $9.5BBPYPP FY2024: $9.1BBPYPP FY2025: $7.1BFSV FY2018: $1.9BFSV FY2019: $2.4BFSV FY2020: $2.8BFSV FY2021: $3.2BFSV FY2022: $3.7BFSV FY2023: $4.3BFSV FY2024: $5.2BFSV FY2025: $5.5BFY18FY19FY20FY21FY22FY23FY24FY25
BPYPP $7.1BFSV $5.5B
Net income
BPYPP FY2018: $3.7BBPYPP FY2019: $3.2BBPYPP FY2020: -$2.1BBPYPP FY2021: $3.5BBPYPP FY2022: $996MBPYPP FY2023: -$1.8BBPYPP FY2024: -$2BBPYPP FY2025: -$305MFSV FY2018: $65.9MFSV FY2019: -$251.6MFSV FY2020: $87.3MFSV FY2021: $135.2MFSV FY2022: $121.1MFSV FY2023: $100.4MFSV FY2024: $134.4MFSV FY2025: $145MFY18FY19FY20FY21FY22FY23FY24FY25
BPYPP -$305MFSV $145M
Net margin
BPYPP FY2018: 50.5%BPYPP FY2019: 38.5%BPYPP FY2020: -31.2%BPYPP FY2021: 49.3%BPYPP FY2022: 13.5%BPYPP FY2023: -19.5%BPYPP FY2024: -21.9%BPYPP FY2025: -4.3%FSV FY2018: 3.4%FSV FY2019: -10.5%FSV FY2020: 3.1%FSV FY2021: 4.2%FSV FY2022: 3.2%FSV FY2023: 2.3%FSV FY2024: 2.6%FSV FY2025: 2.6%FY18FY19FY20FY21FY22FY23FY24FY25
BPYPP -4.3%FSV 2.6%
Revenue growth
BPYPP FY2019: +13.3%BPYPP FY2020: -19.6%BPYPP FY2021: +7.7%BPYPP FY2022: +3.7%BPYPP FY2023: +28.8%BPYPP FY2024: -3.9%BPYPP FY2025: -21.6%FSV FY2019: +24.6%FSV FY2020: +15.2%FSV FY2021: +17.2%FSV FY2022: +15.3%FSV FY2023: +15.7%FSV FY2024: +20.4%FSV FY2025: +5.4%FY19FY20FY21FY22FY23FY24FY25
BPYPP -21.6%FSV +5.4%
Free cash flow
BPYPP FY2018: $879MBPYPP FY2019: $252MBPYPP FY2020: $1.2BBPYPP FY2021: $450MBPYPP FY2022: -$260MBPYPP FY2023: -$1.2BBPYPP FY2024: $615MBPYPP FY2025: -$1.4BFSV FY2018: $58.9MFSV FY2019: $61.2MFSV FY2020: $252.4MFSV FY2021: $109.1MFSV FY2022: $28.3MFSV FY2023: $187.6MFSV FY2024: $172.9MFSV FY2025: $318.2MFY18FY19FY20FY21FY22FY23FY24FY25
BPYPP -$1.4BFSV $318.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Brookfield Property Partners and FirstService

Which is bigger by revenue, Brookfield Property Partners or FirstService?

Brookfield Property Partners is bigger by revenue: $7.1B in fiscal 2025, against $5.5B for FirstService in fiscal 2025.

Which keeps more of its revenue as profit, Brookfield Property Partners or FirstService?

Brookfield Property Partners had a net margin of -4.3% in fiscal 2025; FirstService had 2.6% in fiscal 2025.

Which grew revenue faster, Brookfield Property Partners or FirstService?

In their latest fiscal years revenue changed by -21.6% at Brookfield Property Partners and +5.4% at FirstService.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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