BPYPP vs FSV: Brookfield Property Partners LP and FirstService compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Brookfield Property Partners LP is the larger company, worth $10.2B, about 1.7 times FirstService.
- FirstService grew revenue faster over the last year (+5.4% vs -21.6%).
- On earnings, Brookfield Property Partners LP is the cheaper stock (6.9x vs 40.9x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | BPYPP | FSV |
|---|---|---|
| Market cap | $10.2B | $6.1B |
| Share price | $15.29 | $129.73 |
| Revenue (last fiscal year) | $7.1B | $5.5B |
| Free cash flow (last fiscal year) | -$1.4B | $318M |
| Revenue growth, last year | -21.6% | +5.4% |
| Revenue growth per year, last 5 fiscal years | +0.2% | +14.1% |
| Operating margin | — | 6.2% |
| Net margin | -4.3% | 2.6% |
| Return on equity | -0.76% | 10.5% |
| P/E (trailing) | 6.92x | 40.9x |
| Price / free cash flow | — | 18.8x |
| EV / EBITDA | — | 16.4x |
| FCF growth the price implies | — | 4.4% |
| Dividend yield | — | 0.87% |
| Debt / equity | 1.46x | 2.11x |
| Fundamental grade | F | D |
| Superinvestors holding it | 0 | 4 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Brookfield Property Partners LP
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $7.1B | $450M | — |
| 2022 | $7.4B | -$260M | — |
| 2023 | $9.5B | -$1.2B | — |
| 2024 | $9.1B | $615M | — |
| 2025 | $7.1B | -$1.4B | — |
FirstService
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $3.2B | $109M | 6.2% |
| 2022 | $3.7B | $28M | 5.8% |
| 2023 | $4.3B | $188M | 5.6% |
| 2024 | $5.2B | $173M | 6.5% |
| 2025 | $5.5B | $318M | 6.1% |
Where the revenue comes from
Brookfield Property Partners LP · by segments, 2025
LP Investments$3.7B51%
Office$1.8B26%
Retail$1.5B21%
Corporate$154M2%
FirstService · by segments, 2025
FirstService Brands Segment$3.2B58%
FirstService Residential Segment$2.3B42%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open BPYPP in InvestinglyQuestions
Which is bigger, Brookfield Property Partners LP or FirstService?
Brookfield Property Partners LP (BPYPP), at $10.2B against $6.1B.
Is BPYPP or FSV cheaper?
By trailing P/E, Brookfield Property Partners LP (6.92x) is cheaper than FirstService (40.9x). A lower multiple can also mean the market expects less growth.
Which grows faster, BPYPP or FSV?
FirstService: revenue grew +5.4% over the last year, against -21.6%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.