CIGI vs FSV: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: CIGI is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. CIGI and FSV share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined CIGI and FSV exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Colliers International Group (Nasdaq and TSX: CIGI) is a global professional services and investment management company operating across three segments: Commercial Real Estate (transaction brokerage in leasing and capital markets plus outsourcing services like property management, valuation, and loan servicing), Engineering (design and consulting built up through acquisitions), and Investment Management (Colliers Global Investors, which manages capital for institutions across real assets, infrastructure, and private markets with more than ~$96 billion in assets under management as of late 2025). The company employs about 28,000 people in dozens of countries and has grown for years through a disciplined acquisition strategy, with founder-led management holding a meaningful ownership stake.

Full CIGI guide

FirstService Corporation is a North American provider of essential property services operating through two segments. FirstService Residential is the largest manager of residential communities in North America, running condominiums, co-operatives, homeowner associations, and master-planned communities on recurring management contracts, plus ancillary services like on-site staffing, amenity management, banking, and insurance products. FirstService Brands delivers property services to residential and commercial customers through owned operations and franchise systems, including First Onsite and Paul Davis restoration, Roofing Corp of America, Century Fire Protection, California Closets, CertaPro Painters, Floor Coverings International, and Pillar to Post home inspectors.

Full FSV guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• CIGI drivers: Recurring-revenue mix shift; Capital markets recovery.
• FSV drivers: Recurring residential management base; Acquisition-led roll-up strategy.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Colliers' brokerage and capital markets revenue is cyclical and sensitive to interest rates, credit conditions, and commercial real estate transaction volumes, so a downturn in deal activity can pressure results. For FSV, firstService still trades at a high trailing earnings multiple (about 39 times as of October 2026), though the forward multiple is closer to 20 times, so any slowdown in organic growth or margin compression can pressure the stock disproportionately.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick CIGI if you believe its drivers more; FSV if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the CIGI and FSV guides.

CIGI. As of October 16, 2026 CIGI traded near ~$91 with a market cap around ~$4.7 billion against TTM revenue of roughly ~$6.0 billion, or about 0.8 times sales. The trailing GAAP P/E near ~43 still overstates the multiple because reported net income is depressed by non-controlling-interest and acquisition charges, while a forward P/E near ~11 on consensus EPS of ~$8.44 for 2027 is far lower, so adjusted metrics like Adjusted EBITDA and Adjusted EPS are what most analysts track for this company. The nine covering analysts carry a mean target near ~$137, and third-quarter results are due November 4, 2026.

FSV. FirstService's headline trailing P/E near 39x is inflated by amortization and other items in GAAP earnings; on adjusted forward EPS of about $6.69 the multiple is roughly 20x, and EV/EBITDA is about 14.5x. The stock has de-rated sharply over the past year as growth slowed, and the average analyst target sits near $173. Q3 2026 results on October 22 carry a consensus of about $1.87 of adjusted EPS on roughly $1.5 billion of revenue.

Headline figures (approximate, October 2026): CIGI shows revenue (ttm) ~$5.96B, revenue growth (latest quarter, yoy) ~16.7%, q2 2026 adjusted eps ~$1.83 (vs ~$1.81 est.), net income (ttm) ~$108M (profit margin ~1.8%); FSV shows revenue (ttm) ~$5.6B (up ~2.4% YoY in Q2 2026), q2 2026 revenue ~$1.45B (adj. EPS $1.75 vs $1.73 est.), margins ~33% gross, ~7% operating, ~3% net, net income (ttm) ~$161M (EBITDA ~$540M).

CIGI and FSV are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined CIGI and FSV exposure against your real portfolio. It is not an investment adviser.