Federal Signal Corporation (FSS) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$1.29	$1.42	+10.1%	—	—	—
Q3 26	$0.88	$1.18	+34.1%	—	—	—
Q2 26	$1.1	$1.16	+5.5%	—	—	—
Q1 26	$1.06	$1.17	+10.4%	—	—	—
Q4 25	$0.73	$0.76	+4.1%	—	—	—
Q3 25	$0.87	$0.87	0.0%	—	—	—
Q2 25	$0.84	$0.88	+4.8%	—	—	—
Q1 25	$0.84	$0.95	+13.1%	—	—	—
Q4 24	$0.56	$0.64	+14.3%	—	—	—
Q3 24	$0.66	$0.74	+12.1%	—	—	—
Q2 24	$0.66	$0.71	+7.6%	—	—	—
Q1 24	$0.62	$0.67	+8.1%	—	—	—
Q4 23	$0.4	$0.46	+15.0%	—	—	—
Q3 23	$0.56	$0.57	+1.8%	—	—	—
Q2 23	$0.53	$0.53	0.0%	—	—	—
Q1 23	$0.47	$0.53	+12.8%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.06	—	—	$2.2B	—
FY24	—	$3.55	—	—	$1.9B	—
FY23	—	$2.59	—	—	$1.7B	—
FY22	—	$1.99	—	—	$1.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$707.9M	$898.5M	$1.1B	$1.2B	$1.1B	$1.2B	$1.4B	$1.7B	$1.9B	$2.2B
YoY change	-7.83%	+26.9%	+21.3%	+12.1%	-7.41%	+7.29%	+18.3%	+20.1%	+8.06%	+17.1%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	707.9M	898.5M	1.1B	1.2B	1.1B	1.2B	1.4B	1.7B	1.9B	2.2B
Cost of revenue	524.5M	677.3M	807.4M	898.5M	837.2M	924.5M	1.1B	1.3B	1.3B	1.5B
Gross profit	183.4M	221.2M	282.1M	322.8M	293.6M	288.7M	344.9M	450.2M	533M	631.2M
Gross margin	25.9%	24.6%	25.9%	26.4%	26%	23.8%	24%	26.1%	28.6%	28.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	119.5M	150.4M	159.1M	164.4M	149.2M	159.5M	171.7M	210.1M	237.8M	255.9M
Operating expenses	119.5M	150.4M	159.1M	164.4M	149.2M	159.5M	171.7M	210.1M	237.8M	255.9M
Operating income	63.9M	70.8M	123M	149.6M	134.8M	118.3M	160.3M	224.9M	280.2M	356.9M
Operating margin	9.03%	7.88%	11.3%	12.2%	11.9%	9.75%	11.2%	13.1%	15.1%	16.4%
Non-operating income, net	-4.9M	-2.5M	-2.1M	-3.1M	-4.5M	3.8M	900K	-2.2M	-3.8M	-18.3M
Pretax income	56.8M	61M	111.6M	138.6M	124.6M	117.6M	150.9M	203M	263.9M	324.5M
Income tax	17.4M	500K	17.9M	30.2M	28.5M	17M	30.5M	45.6M	47.6M	77.9M
Net income	43.8M	61.6M	94M	108.5M	96.2M	100.6M	120.4M	157.4M	216.3M	246.6M
Net margin	6.19%	6.86%	8.63%	8.88%	8.51%	8.29%	8.39%	9.14%	11.6%	11.3%
EBITDA	80.9M	101.6M	158.8M	190.5M	178.5M	170.4M	215.4M	283.5M	344.3M	435.1M
EPS	0.72	1.03	1.57	1.8	1.59	1.65	1.99	2.59	3.55	4.06
Diluted EPS	0.71	1.02	1.54	1.76	1.56	1.63	1.97	2.56	3.5	4.01

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	446.4M	448.4M	424.9M	490.4M	474.2M	472M	463.8M	564.6M	555M	597.1M	625.6M	670.2M
Cost of revenue	328.7M	329M	308.9M	346.4M	333.8M	339.4M	333M	395M	393.5M	427.8M	446.2M	466.4M
Gross profit	117.7M	119.4M	116M	144M	140.4M	132.6M	130.8M	169.6M	161.5M	169.3M	179.4M	203.8M
Gross margin	26.4%	26.6%	27.3%	29.4%	29.6%	28.1%	28.2%	30%	29.1%	28.4%	28.7%	30.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	50.6M	54.1M	57.2M	58.3M	60.1M	62.2M	60.2M	66.9M	61.4M	67.4M	72M	78.3M
Operating expenses	50.6M	54.1M	57.2M	58.3M	60.1M	62.2M	60.2M	66.9M	61.4M	67.4M	72M	78.3M
Operating income	63.2M	61.5M	55.2M	81.9M	76.5M	66.6M	66.3M	98.2M	95.6M	96.8M	100.9M	118.9M
Operating margin	14.2%	13.7%	13%	16.7%	16.1%	14.1%	14.3%	17.4%	17.2%	16.2%	16.1%	17.7%
Non-operating income, net	-1M	1.3M	-1.1M	-1.2M	-900K	-600K	-1.3M	-1.3M	-2.3M	-13.4M	-1.8M	-1.5M
Pretax income	57.1M	58.5M	50.9M	77.5M	72.6M	62.9M	62M	93.4M	90.5M	78.6M	92.2M	111.4M
Income tax	13.8M	12.1M	-700K	16.7M	18.7M	12.9M	15.7M	22M	22.4M	17.8M	21.8M	25.3M
Net income	43.3M	46.4M	51.6M	60.8M	53.9M	50M	46.3M	71.4M	68.1M	60.8M	70.4M	86.1M
Net margin	9.7%	10.3%	12.1%	12.4%	11.4%	10.6%	9.98%	12.6%	12.3%	10.2%	11.3%	12.8%
EBITDA	78.2M	76.5M	70.4M	97.3M	92.7M	83.9M	84.3M	117.3M	115.2M	118.3M	124.1M	142.7M
EPS	0.71	—	0.85	1	0.88	—	0.76	1.18	1.12	—	1.16	1.41
Diluted EPS	0.71	—	0.84	0.99	0.87	—	0.75	1.16	1.11	—	1.14	1.4

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	942.8M	1.2B	1.2B	1.9B	2B	2.6B	2.8B	4.7B	5.6B	6.6B	7B
Enterprise value	956.1M	1.4B	1.4B	2.2B	2.2B	2.9B	3.2B	4.9B	5.8B	7.1B	7.4B
Shares outstanding	60.4M	59.7M	59.9M	60.2M	60.3M	60.8M	60.5M	60.7M	60.9M	60.8M	60.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	21.5	19.5	12.7	17.9	20.8	26.2	23.4	29.6	26	26.8	24.7
P/S	1.33	1.33	1.09	1.59	1.77	2.17	1.96	2.7	3.02	3.03	2.86
P/B	2.39	2.62	2.25	3.03	2.85	3.36	3.27	4.65	4.74	4.78	4.65
EV/EBITDA	11.8	14.2	8.59	11.3	12.1	17.1	14.6	17.3	16.8	16.4	14.9
EV/Sales	1.35	1.6	1.25	1.77	1.9	2.4	2.2	2.85	3.11	3.27	3.03
Earnings yield	4.65%	5.14%	7.89%	5.59%	4.81%	3.82%	4.28%	3.38%	3.84%	3.74%	4.04%
FCF yield	1.97%	5.4%	6.6%	3.49%	5.32%	2.44%	0.67%	3.52%	3.39%	3.44%	2.77%
PEG	—	—	—	—	—	—	—	—	—	—	1.27

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	25.9%	24.6%	25.9%	26.4%	26%	23.8%	24%	26.1%	28.6%	28.9%	30.4%
Operating margin	9.03%	7.88%	11.3%	12.2%	11.9%	9.75%	11.2%	13.1%	15.1%	16.4%	17.7%
Net margin	6.19%	6.86%	8.63%	8.88%	8.51%	8.29%	8.39%	9.14%	11.6%	11.3%	11.7%
ROE	11.1%	13.5%	17.7%	16.9%	13.7%	12.8%	14%	15.7%	18.2%	17.8%	20.6%
ROA	6.81%	6.21%	9.18%	9.31%	7.96%	7.36%	7.9%	9.71%	12.3%	10.3%	11.8%
ROIC	10.9%	10.1%	14.7%	13.6%	12.2%	9.57%	10.6%	13.8%	17%	14.2%	16.3%
Return on tangible assets	29.2%	-93.5%	-746%	174.7%	84.8%	111.4%	59.9%	60.5%	52.7%	63.7%	72.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.06	2.59	2.07	2.25	2.73	2.53	2.94	2.91	2.66	3.02	2.74
Quick ratio	1.64	1.42	1.08	1.11	1.49	1.18	1.32	1.36	1.29	1.35	1.21
Debt / equity	0.16	0.61	0.4	0.39	0.33	0.4	0.45	0.32	0.21	0.43	0.32
Debt / assets	0.1	0.28	0.21	0.21	0.19	0.23	0.25	0.2	0.14	0.25	0.2
Net debt / EBITDA	0.16	2.36	1.09	1.15	0.85	1.6	1.58	0.92	0.47	1.22	0.85
Interest coverage	30.9	9.36	13	18.5	22.9	27.1	15.7	11.3	22.1	24	19.2
Effective tax rate	30.6%	0.82%	16%	21.8%	22.9%	14.5%	20.2%	22.5%	18%	24%	23.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	11.7	15.1	18.2	20.3	18.8	20	23.7	28.4	30.6	35.9	40.3
EPS (basic)	0.72	1.03	1.57	1.8	1.59	1.65	1.99	2.59	3.55	4.06	4.06
EPS (diluted)	0.71	1.02	1.54	1.76	1.56	1.63	1.97	2.56	3.5	4.01	4.64
Book value per share	6.52	7.66	8.85	10.7	11.6	12.9	14.2	16.5	19.5	22.7	24.7
FCF per share	0.31	1.09	1.31	1.12	1.77	1.06	0.31	2.7	3.13	3.74	5.52
Cash per share	0.84	0.63	0.62	0.52	1.35	0.67	0.79	1	1.5	1.05	1.03
Capex per share	0.1	0.13	0.24	0.59	0.49	0.62	0.88	0.5	0.67	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.86%	0.89%	1.29%	2.9%	2.63%	3.08%	3.69%	1.76%	2.18%	—	—
Capex / operating cash flow	16.9%	13.2%	15.1%	34.4%	20.5%	36.2%	73%	16.6%	18%	—	—
Payout ratio	38.6%	27.3%	19.9%	17.8%	20.2%	21.9%	18.1%	15.1%	13.5%	13.8%	12.5%
Dividend yield	1.79%	1.4%	1.57%	0.99%	0.97%	0.83%	0.78%	0.51%	0.52%	0.52%	0.52%

Yield

0.52%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.15

ex-dividend Aug 14, 2026

Payout ratio

13%

of earnings

Dividend growth

3 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 14, 2026	$0.15
May 15, 2026	$0.15
Mar 13, 2026	$0.15

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$446.4M	$448.4M	$424.9M	$490.4M	$474.2M	$472M	$463.8M	$564.6M	$555M	$597.1M	$625.6M	$670.2M
YoY change	+28.9%	+14.5%	+10.2%	+10.8%	+6.23%	+5.26%	+9.16%	+15.1%	+17%	+26.5%	+34.9%	+18.7%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	50.7M	37.5M	37.4M	31.6M	81.7M	40.5M	47.5M	61M	91.1M	63.7M
Receivables	81.3M	118.2M	124.4M	134.2M	127M	136M	173.8M	186.2M	196.4M	292.2M
Inventory	120.1M	137.2M	157.3M	182.9M	185M	229.1M	292.7M	303.4M	331M	471.6M
Total current assets	259.6M	303.8M	328.5M	360.7M	405.5M	431M	531.4M	570.2M	642.5M	853.8M
Property, plant & equipment	97.7M	219.8M	122.8M	181M	178.8M	197.3M	195.2M	221.2M	271.5M	328M
Goodwill & intangibles	493.4M	1.1B	1B	1.1B	1.1B	1.3B	1.3B	1.4B	1.4B	2B
Total assets	643.2M	992.3M	1B	1.2B	1.2B	1.4B	1.5B	1.6B	1.8B	2.4B
Accounts payable	35.3M	51.5M	66.1M	65M	51.6M	64.8M	72.4M	66.7M	79M	98M
Short-term debt	500K	300K	200K	8.4M	8.4M	9.4M	8.4M	11.5M	26.2M	8.4M
Total current liabilities	84.9M	117.1M	158.8M	160.2M	148.4M	170.4M	180.5M	195.8M	241.8M	282.4M
Long-term debt	63.5M	277.4M	209.9M	241.9M	225.3M	304.3M	380M	309.2M	226.2M	586.2M
Total liabilities	249.1M	534.9M	493.7M	523.9M	506.7M	582.1M	663.4M	618.6M	579.1M	1B
Shareholders' equity	394.1M	457.4M	530.1M	641.6M	702.1M	784M	860.9M	1B	1.2B	1.4B
Total debt	64M	277.7M	210.1M	250.3M	233.7M	313.7M	388.4M	320.7M	252.4M	594.6M
Net debt	13.3M	240.2M	172.7M	218.7M	152M	273.2M	340.9M	259.7M	161.3M	530.9M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	41M	61M	48.9M	48.6M	73.7M	91.1M	57.5M	64.7M	54.4M	63.7M	71.4M	62.8M
Receivables	213.3M	186.2M	191.4M	213.6M	220.3M	196.4M	223.2M	238.3M	263.6M	292.2M	310.1M	288.8M
Inventory	330.1M	303.4M	322.7M	326.9M	337M	331M	362M	356.5M	367.3M	471.6M	477.8M	479.8M
Total current assets	603.7M	570.2M	595.3M	611.8M	649.2M	642.5M	664.8M	684.1M	706.5M	853.8M	876.8M	856.9M
Property, plant & equipment	342.3M	221.2M	357.5M	385.4M	392.4M	271.5M	448.4M	464.2M	465.4M	328M	527.1M	530.4M
Goodwill & intangibles	1.4B	1.4B	1.3B	1.3B	1.3B	1.4B	1.5B	1.5B	1.5B	2B	2B	2B
Total assets	1.7B	1.6B	1.7B	1.7B	1.7B	1.8B	1.9B	1.9B	1.9B	2.4B	2.5B	2.4B
Accounts payable	82.4M	66.7M	88.8M	87M	88.9M	79M	103.8M	102.8M	103.1M	98M	115.8M	114.6M
Short-term debt	11.3M	11.5M	12.1M	13.8M	15.2M	26.2M	17M	17.6M	19.2M	8.4M	11.1M	14M
Total current liabilities	202.6M	195.8M	211M	211.7M	229.4M	241.8M	278.4M	263M	271.2M	282.4M	308.2M	312.9M
Long-term debt	379M	309.2M	281.5M	270.1M	244M	226.2M	288.2M	278.6M	223.9M	586.2M	571.7M	471.8M
Total liabilities	698.7M	618.6M	607M	591.9M	584.2M	579.1M	677M	653.8M	616.7M	1B	1B	932.4M
Shareholders' equity	955.9M	1B	1B	1.1B	1.1B	1.2B	1.2B	1.3B	1.3B	1.4B	1.4B	1.5B
Total debt	390.3M	320.7M	293.6M	283.9M	259.2M	252.4M	305.2M	296.2M	243.1M	594.6M	582.8M	485.8M
Net debt	349.3M	259.7M	244.7M	235.3M	185.5M	161.3M	247.7M	231.5M	188.7M	530.9M	511.4M	423M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	43.8M	61.6M	94M	108.5M	96.2M	100.6M	120.4M	157.4M	216.3M	246.6M
Depreciation & amortization	19.1M	30M	36.4M	41.5M	44.8M	50.4M	54.7M	60.4M	65.3M	80.5M
Stock-based compensation	4.8M	4.6M	7.6M	8.8M	8.4M	7.6M	10.2M	13.1M	15.6M	15M
Change in working capital	-34.2M	-18.8M	-38.3M	-57.3M	-10.6M	-45.5M	-108.9M	-44.5M	-75.3M	-112.6M
Operating cash flow	36.2M	60.7M	93.4M	102.9M	144.7M	103.4M	72.6M	182.1M	225.7M	254.7M
Capital expenditure	-6.1M	-8M	-14.1M	-35.4M	-29.7M	-37.4M	-53M	-30.3M	-40.6M	—
Investing cash flow	-103M	-277.1M	-11M	-84.4M	-34.4M	-168.7M	-99.7M	-83.7M	-78.9M	-500.3M
Dividends paid	-16.9M	-16.8M	-18.7M	-19.3M	-19.4M	-22M	-21.8M	-23.8M	-29.3M	-34.1M
Share repurchases	-40.5M	-2.9M	-1.7M	-3.1M	-22.8M	-26.1M	-22.3M	-12.5M	-12.8M	-53.3M
Financing cash flow	-37.6M	189.1M	-82.5M	-26.3M	-54M	22.2M	35.3M	-101.8M	-123M	240.8M
Net change in cash	-104.4M	-27.3M	-100K	-7.8M	56.3M	-43.1M	8.2M	-3.4M	23.8M	-4.8M
Free cash flow	18.6M	64.8M	78.7M	67.7M	106.5M	64.4M	18.8M	164.1M	190.7M	227.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	43.3M	46.4M	51.6M	60.8M	53.9M	50M	46.3M	71.4M	68.1M	60.8M	70.4M	86.1M
Depreciation & amortization	15.3M	15.3M	15.4M	15.8M	16.5M	17.6M	18.7M	19.9M	20.3M	21.6M	23.8M	24.6M
Stock-based compensation	3.1M	4.2M	4.4M	4.4M	3.4M	3.4M	2.4M	5.7M	3.6M	3.3M	2.7M	5.4M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	60.9M	61.6M	71.6M	82M	75.3M	72.1M	68.1M	59.7M	61.1M	97.2M	101.3M	112.9M
Capital expenditure	-5.7M	-8.9M	-8.4M	-15.8M	-7.9M	-8.5M	-5.6M	—	—	—	—	—
Investing cash flow	-4.3M	-8M	-7.6M	-15.4M	-7.8M	-48.1M	-87.7M	0	0	-418.9M	-44.9M	0
Dividends paid	-6.1M	-6.1M	-7.3M	-7.4M	-7.3M	-7.3M	-8.6M	-8.5M	-8.5M	-8.5M	-9.2M	-9.1M
Share repurchases	-4.5M	-2.6M	-4.2M	-1.8M	-4.5M	-2.3M	-27.1M	-24M	-800K	-1.4M	-8.2M	-5.4M
Financing cash flow	-50.7M	-8.8M	-36.1M	-49.2M	-37M	52.3M	16.9M	-38.6M	-64.9M	266.6M	-41.8M	-14.6M
Net change in cash	5.9M	44.8M	27.9M	17.4M	30.5M	76.3M	-2.7M	21.1M	-3.8M	-55.1M	14.6M	98.3M
Free cash flow	42.3M	94.5M	22.9M	24.8M	60.9M	82.1M	31.1M	52.4M	54.1M	89.5M	94.6M	101M

Date	Ratio
Mar 2, 1994	4:3
Apr 10, 1992	3:2
Mar 4, 1991	3:2
Mar 2, 1990	3:2
Feb 8, 1989	11:10
Feb 8, 1988	11:10
Jan 26, 1983	11:10
Mar 1, 1982	5:4
Mar 2, 1981	5:4

Federal Signal Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history