Federal Signal (FSS) Financials

$92.12 -0.98 (-1.05%)

Closing price 05/23/2025 03:59 PM Eastern

Extended Trading

$91.80 -0.32 (-0.35%)

As of 05/23/2025 07:53 PM Eastern

Annual Income Statements for Federal Signal

This table shows Federal Signal's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	216	157	120	101	96	109	94	62	44	64
Consolidated Net Income / (Loss)	216	157	120	101	96	109	94	62	44	64
Net Income / (Loss) Continuing Operations	0.00	0.00	0.00	0.00	96	108	94	61	39	66
Total Pre-Tax Income	264	203	151	118	125	139	112	61	57	100
Total Operating Income	281	225	161	131	131	147	122	74	61	103
Total Gross Profit	533	450	345	289	294	323	282	221	183	226
Total Revenue	1,862	1,723	1,435	1,213	1,131	1,221	1,090	899	708	768
Operating Revenue	1,862	1,723	1,435	1,213	1,131	1,221	1,090	899	708	768
Total Cost of Revenue	1,329	1,273	1,090	925	837	899	807	677	525	542
Operating Cost of Revenue	1,329	1,273	1,090	925	837	899	807	677	525	542
Total Operating Expenses	252	226	184	158	162	176	161	148	123	122
Selling, General & Admin Expense	234	210	172	149	149	164	159	144	120	122
Amortization Expense	15	15	13	11	9.60	8.80	-	-	-	-
Other Operating Expenses / (Income)	2.60	0.40	-0.50	-2.10	2.10	-	1.50	2.70	-	-
Restructuring Charge	0.00	0.00	0.00	0.00	1.30	2.50	0.00	0.60	3.10	0.40
Total Other Income / (Expense), net	-18	-22	-9.90	-13	-6.80	-8.50	-9.90	-13	-4.00	-3.30
Interest Expense	16	20	10	4.50	5.70	7.90	9.30	7.30	2.20	2.30
Other Income / (Expense), net	-1.20	-1.80	0.40	-8.60	-1.10	-0.60	-0.60	-5.30	-1.80	-1.00
Income Tax Expense	48	46	31	17	29	30	18	0.50	17	34
Net Income / (Loss) Discontinued Operations	0.00	0.00	0.00	0.00	0.10	0.10	0.30	1.10	4.40	-2.30
Basic Earnings per Share	$3.55	$2.59	$1.99	$1.65	$1.59	$1.80	$1.57	$1.03	$0.72	$1.02
Weighted Average Basic Shares Outstanding	60.90M	60.70M	60.50M	60.80M	60.30M	60.20M	59.90M	59.70M	60.40M	62.20M
Diluted Earnings per Share	$3.50	$2.56	$1.97	$1.63	$1.56	$1.76	$1.54	$1.02	$0.71	$1.00
Weighted Average Diluted Shares Outstanding	61.70M	61.50M	61.20M	61.90M	61.70M	61.60M	61.20M	60.40M	61.20M	63.40M
Weighted Average Basic & Diluted Shares Outstanding	61.10M	61.00M	60.75M	60.93M	60.54M	60.58M	59.90M	59.80M	60.80M	62.30M
Cash Dividends to Common per Share	$0.48	$0.39	$0.36	$0.36	$0.32	$0.32	$0.31	$0.28	$0.28	$0.25

This table shows Federal Signal's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	46	50	54	61	52	46	43	40	27	35	32
Consolidated Net Income / (Loss)	46	50	54	61	52	46	43	40	27	35	32
Net Income / (Loss) Continuing Operations	46	-166	54	61	52	-111	43	40	27	-86	32
Total Pre-Tax Income	62	63	73	78	51	59	57	53	35	42	37
Total Operating Income	66	70	76	81	54	63	63	59	40	47	40
Total Gross Profit	131	133	140	144	116	119	118	117	96	97	83
Total Revenue	464	472	474	490	425	448	446	442	386	392	346
Operating Revenue	464	472	474	490	425	448	446	442	386	392	346
Total Cost of Revenue	333	339	334	346	309	329	329	325	290	295	264
Operating Cost of Revenue	333	339	334	346	309	329	329	325	290	295	264
Total Operating Expenses	65	63	65	63	62	56	55	58	56	50	43
Selling, General & Admin Expense	60	58	60	58	57	54	51	53	52	46	40
Amortization Expense	4.30	3.80	3.80	3.80	3.60	3.80	3.90	3.90	3.60	3.30	3.10
Other Operating Expenses / (Income)	0.60	0.30	0.60	0.80	0.90	-1.60	0.70	0.60	0.70	0.50	0.40
Restructuring Charge	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Other Income / (Expense), net	-3.70	-7.20	-3.30	-3.60	-3.40	-4.60	-5.40	-6.70	-4.80	-4.60	-2.80
Interest Expense	3.00	6.90	3.00	3.20	3.20	4.30	5.10	5.60	4.70	4.40	2.70
Other Income / (Expense), net	-0.70	-0.30	-0.30	-0.40	-0.20	-0.30	-0.30	-1.10	-0.10	-0.20	-0.10
Income Tax Expense	16	13	19	17	-0.70	12	14	12	7.30	7.40	4.90
Basic Earnings per Share	$0.76	$0.82	$0.88	$1.00	$0.85	$0.77	$0.71	$0.66	$0.45	$0.57	$0.53
Weighted Average Basic Shares Outstanding	61.10M	60.90M	61M	61M	60.90M	60.70M	60.80M	60.70M	60.70M	60.50M	60.40M
Diluted Earnings per Share	$0.75	$0.80	$0.87	$0.99	$0.84	$0.74	$0.71	$0.66	$0.45	$0.57	$0.52
Weighted Average Diluted Shares Outstanding	61.80M	61.70M	61.70M	61.70M	61.60M	61.50M	61.40M	61.40M	61.30M	61.20M	61M
Weighted Average Basic & Diluted Shares Outstanding	60.97M	61.10M	61.11M	61.15M	61.10M	61.00M	60.93M	60.99M	60.89M	60.75M	60.64M

This table details how cash moves in and out of Federal Signal's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	30	14	7.00	-41	50	-5.80	0.60	-13	-30	51
Net Cash From Operating Activities	231	194	72	102	136	103	93	73	25	97
Net Cash From Continuing Operating Activities	0.00	0.00	0.00	0.00	136	103	93	74	27	91
Net Income / (Loss) Continuing Operations	216	157	120	101	96	108	94	61	39	66
Consolidated Net Income / (Loss)	216	157	120	101	96	109	94	62	44	64
Net Income / (Loss) Discontinued Operations	0.00	0.00	0.00	0.00	0.10	0.10	0.30	1.10	4.40	-2.30
Depreciation Expense	65	60	55	50	45	42	36	30	19	12
Amortization Expense	-0.90	-1.90	0.40	0.30	0.30	0.30	0.40	0.30	0.60	0.40
Non-Cash Adjustments To Reconcile Net Income	-45	-36	-16	-1.40	-14	-34	-33	-12	-7.70	-0.50
Changes in Operating Assets and Liabilities, net	-4.50	14	-88	-48	8.60	-13	-5.00	-5.10	-25	13
Net Cash From Discontinued Operating Activities	0.00	0.00	0.00	0.00	-0.10	-0.30	0.00	-0.70	-2.00	6.10
Net Cash From Investing Activities	-79	-84	-100	-169	-34	-84	-11	-278	-17	-13
Net Cash From Continuing Investing Activities	-79	-84	-100	-169	-34	-84	-11	-277	-103	-12
Purchase of Property, Plant & Equipment	-41	-30	-53	-37	-30	-35	-14	-8.00	-6.10	-9.60
Acquisitions	-40	-55	-50	-132	-5.40	-50	-	-269	-103	0.00
Other Investing Activities, net	1.40	1.60	3.10	0.50	0.70	0.60	0.10	0.10	5.70	-5.90
Net Cash From Financing Activities	-121	-98	36	26	-53	-25	-81	191	-36	-33
Net Cash From Continuing Financing Activities	-121	-98	36	26	-53	-25	-81	191	-37	-33
Repayment of Debt	-4.40	-0.90	-1.80	-0.20	0.00	-1.00	-62	-0.30	-45	-6.20
Repurchase of Common Equity	-6.70	-5.50	-16	-15	-14	-1.00	-1.20	0.00	-38	-11
Payment of Dividends	-29	-24	-22	-22	-19	-19	-19	-17	-17	-16
Issuance of Debt	-77	-64	81	71	-12	7.40	-	209	65	-
Issuance of Common Equity	2.00	3.90	0.20	4.20	0.60	1.70	1.30	1.60	0.50	1.00
Other Financing Activities, net	-6.10	-7.50	-6.20	-11	-9.10	-12	-0.50	-2.90	-2.70	-1.60
Other Net Changes in Cash	-1.30	0.70	-	-	-	-	-	-	-	-

This table details how cash moves in and out of Federal Signal's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-34	17	25	-0.30	-12	20	-7.80	10	-9.10	12	4.30
Net Cash From Operating Activities	37	91	69	41	31	103	48	36	7.10	39	10
Net Cash From Continuing Operating Activities	37	-141	69	41	31	-91	48	36	7.10	-32	10
Net Income / (Loss) Continuing Operations	46	50	54	61	52	46	43	40	27	35	32
Consolidated Net Income / (Loss)	46	50	54	61	52	46	43	40	27	35	32
Depreciation Expense	19	18	17	16	15	15	15	16	14	14	14
Amortization Expense	0.00	0.50	-0.20	-0.60	-0.60	-0.10	-0.60	-0.60	-0.60	0.40	-
Non-Cash Adjustments To Reconcile Net Income	2.40	-57	3.50	4.40	4.40	-44	3.10	3.80	1.80	-23	2.10
Changes in Operating Assets and Liabilities, net	-31	80	-4.90	-40	-40	86	-13	-23	-36	14	-38
Net Cash From Investing Activities	-88	-48	-7.80	-15	-7.60	-8.00	-4.30	-52	-19	-50	-4.10
Net Cash From Continuing Investing Activities	-88	-48	-7.80	-15	-7.60	-8.00	-4.30	-52	-19	-50	-4.10
Purchase of Property, Plant & Equipment	-5.60	-8.50	-7.90	-16	-8.40	-8.90	-5.70	-9.70	-6.00	-7.40	-4.10
Acquisitions	-82	-40	-	-	0.00	0.10	0.90	-43	-14	-43	-0.70
Other Investing Activities, net	0.00	0.10	0.10	0.40	0.80	0.80	0.50	0.20	0.10	1.00	0.70
Net Cash From Financing Activities	17	-24	-37	-25	-35	-77	-50	26	3.10	21	-0.50
Net Cash From Continuing Financing Activities	17	-24	-37	-25	-35	-77	-50	26	3.10	21	-0.50
Repayment of Debt	-12	-2.50	-	-0.80	-1.10	-0.90	-	0.10	-0.10	-1.70	-0.30
Repurchase of Common Equity	-19	-2.20	-4.40	-	-0.10	-1.20	-4.30	-	0.00	-	-
Payment of Dividends	-8.60	-7.30	-7.30	-7.40	-7.30	-6.10	-6.10	-6.10	-5.50	-5.40	-5.50
Issuance of Debt	64	-12	-25	-16	-24	-69	-40	32	13	31	5.80
Other Financing Activities, net	-8.60	-1.70	0.20	-1.30	-3.30	-3.70	0.10	-	-3.90	-3.30	-0.50
Effect of Exchange Rate Changes	0.50	-	0.80	-0.30	-0.50	-	-1.10	0.40	0.10	1.10	-1.10

This table presents Federal Signal's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	1,765	1,621	1,524	1,366	1,209	1,166	1,024	992	643	667
Total Current Assets	643	570	531	431	406	361	329	304	260	315
Cash & Equivalents	91	61	48	41	82	32	37	38	51	76
Accounts Receivable	196	186	174	136	127	134	124	118	81	73
Inventories, net	331	303	293	229	185	183	157	137	120	87
Prepaid Expenses	24	20	17	25	12	12	9.40	11	7.50	15
Plant, Property, & Equipment, net	219	191	179	142	107	207	159	147	124	53
Total Noncurrent Assets	904	860	814	793	696	598	537	541	260	299
Goodwill	478	473	453	432	394	389	375	377	237	232
Intangible Assets	200	208	208	206	154	163	143	152	10	0.20
Noncurrent Deferred & Refundable Income Taxes	9.40	12	8.80	8.40	9.50	10	13	6.20	8.20	20
Other Noncurrent Operating Assets	217	167	143	147	139	36	5.60	5.40	3.90	3.30
Other Noncurrent Nonoperating Assets	0.00	0.00	0.00	0.00	0.20	0.30	0.40	0.50	1.10	43
Total Liabilities & Shareholders' Equity	1,765	1,621	1,524	1,366	1,209	1,166	1,024	992	643	667
Total Liabilities	579	619	663	582	507	524	494	535	249	261
Total Current Liabilities	242	196	181	170	148	160	159	117	85	117
Short-Term Debt	19	4.70	1.50	0.60	0.20	0.20	0.20	0.30	0.50	0.40
Accounts Payable	79	67	72	65	52	65	66	52	35	38
Accrued Expenses	56	48	43	44	45	44	53	36	29	28
Customer Deposits	35	27	25	22	13	12	10	6.50	4.50	3.70
Current Employee Benefit Liabilities	46	42	31	30	30	31	30	22	14	19
Other Current Liabilities	6.80	6.80	6.90	8.80	8.20	8.20	-	-	-	-
Other Current Nonoperating Liabilities	0.00	0.00	0.00	0.00	0.10	0.20	0.20	0.50	2.10	29
Total Noncurrent Liabilities	337	423	483	412	358	364	335	418	164	144
Long-Term Debt	204	294	362	282	210	220	210	277	64	44
Noncurrent Deferred & Payable Income Tax Liabilities	58	53	51	53	54	53	46	45	0.00	-
Noncurrent Employee Benefit Liabilities	42	44	39	40	54	51	55	57	61	55
Other Noncurrent Operating Liabilities	33	31	32	36	40	39	16	28	27	17
Other Noncurrent Nonoperating Liabilities	0.00	0.00	0.00	0.00	0.80	0.90	1.40	1.50	2.00	15
Total Equity & Noncontrolling Interests	1,186	1,002	861	784	702	642	530	457	394	406
Total Preferred & Common Equity	1,186	1,002	861	784	702	642	530	457	394	406
Total Common Equity	1,186	1,002	861	784	702	642	530	457	394	406
Common Stock	380	361	341	326	309	296	283	274	266	260
Retained Earnings	1,103	916	782	684	605	528	433	347	302	275
Treasury Stock	-208	-194	-179	-151	-120	-93	-89	-86	-81	-41
Accumulated Other Comprehensive Income / (Loss)	-89	-81	-84	-74	-92	-89	-97	-77	-92	-89

This table presents Federal Signal's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,879	1,734	1,692	1,651	1,655	1,661	1,584	1,465
Total Current Assets	665	649	612	595	604	606	566	511
Cash & Equivalents	58	74	49	49	41	49	38	36
Accounts Receivable	223	220	214	191	213	193	192	170
Inventories, net	362	337	327	323	330	339	318	288
Prepaid Expenses	22	18	23	32	19	24	19	18
Plant, Property, & Equipment, net	236	206	203	193	188	189	181	171
Total Noncurrent Assets	979	879	876	863	863	866	837	784
Goodwill	514	472	470	470	474	475	458	431
Intangible Assets	226	197	201	205	212	217	213	198
Noncurrent Deferred & Refundable Income Taxes	9.90	12	12	12	12	8.40	8.60	8.00
Other Noncurrent Operating Assets	229	198	194	177	165	165	157	147
Total Liabilities & Shareholders' Equity	1,879	1,734	1,692	1,651	1,655	1,661	1,584	1,465
Total Liabilities	677	584	592	607	699	737	702	637
Total Current Liabilities	278	229	212	211	203	198	203	181
Short-Term Debt	10	8.10	6.50	5.50	3.90	3.10	2.30	0.70
Accounts Payable	104	89	87	89	82	87	96	81
Accrued Expenses	80	62	53	45	47	44	50	41
Customer Deposits	49	22	25	29	28	27	26	23
Current Deferred & Payable Income Tax Liabilities	0.00	0.00	0.00	13	-	-	-	-
Current Employee Benefit Liabilities	29	41	33	23	35	30	22	29
Other Current Liabilities	6.90	7.10	7.30	6.60	7.40	7.80	7.50	6.80
Total Noncurrent Liabilities	399	355	380	396	496	538	499	456
Long-Term Debt	267	223	249	267	362	406	373	331
Noncurrent Deferred & Payable Income Tax Liabilities	59	57	56	54	57	53	50	57
Noncurrent Employee Benefit Liabilities	40	41	43	45	39	40	40	36
Other Noncurrent Operating Liabilities	33	34	33	30	39	39	36	33
Total Equity & Noncontrolling Interests	1,202	1,149	1,100	1,044	956	924	882	828
Total Preferred & Common Equity	1,202	1,149	1,100	1,044	956	924	882	828
Total Common Equity	1,202	1,149	1,100	1,044	956	924	882	828
Common Stock	383	376	372	367	355	351	344	334
Retained Earnings	1,141	1,060	1,014	960	876	838	804	753
Treasury Stock	-236	-206	-201	-199	-190	-186	-183	-171
Accumulated Other Comprehensive Income / (Loss)	-85	-82	-85	-84	-84	-80	-83	-88

This table displays calculated financial ratios and metrics derived from Federal Signal's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.06%	20.07%	18.27%	7.29%	-7.41%	12.10%	21.26%	26.92%	-7.83%	-1.42%
EBITDA Growth	22.55%	30.00%	25.17%	-1.48%	-6.85%	19.40%	59.94%	25.29%	-31.51%	16.06%
EBIT Growth	25.82%	38.15%	32.02%	-6.29%	-11.06%	21.17%	77.01%	15.76%	-42.27%	17.47%
NOPAT Growth	32.50%	35.68%	14.75%	10.32%	-11.91%	12.78%	39.75%	73.08%	-37.95%	7.06%
Net Income Growth	37.42%	30.73%	19.68%	4.57%	-11.34%	15.43%	52.60%	40.64%	-31.02%	-0.31%
EPS Growth	36.72%	29.95%	20.86%	4.49%	-11.36%	14.29%	50.98%	43.66%	-29.00%	0.00%
Operating Cash Flow Growth	18.98%	170.75%	-29.47%	-25.26%	32.10%	11.10%	27.47%	194.74%	-74.59%	34.44%
Free Cash Flow Firm Growth	37.24%	607.18%	73.86%	-182.13%	1,962.49%	-105.51%	146.33%	-282.81%	-175.77%	-57.56%
Invested Capital Growth	6.36%	5.40%	14.63%	23.49%	-0.02%	16.95%	0.42%	68.08%	30.33%	-1.73%
Revenue Q/Q Growth	1.28%	3.42%	6.70%	0.55%	-1.70%	2.95%	3.01%	8.65%	-1.43%	8.69%
EBITDA Q/Q Growth	2.96%	6.52%	14.57%	-6.95%	-0.68%	2.84%	13.62%	4.12%	-8.70%	1.77%
EBIT Q/Q Growth	2.56%	7.95%	19.23%	-10.55%	-1.14%	2.09%	17.72%	1.94%	-15.71%	-1.16%
NOPAT Q/Q Growth	2.55%	7.20%	8.16%	2.53%	-4.89%	-2.60%	-4.52%	50.37%	-6.20%	-5.36%
Net Income Q/Q Growth	1.69%	8.10%	14.34%	-6.16%	43.37%	-24.65%	2.29%	40.64%	2.58%	-16.23%
EPS Q/Q Growth	1.74%	7.11%	14.53%	-5.78%	-3.11%	-3.30%	1.99%	41.67%	2.90%	-15.97%
Operating Cash Flow Q/Q Growth	-5.24%	49.08%	-9.23%	-8.86%	9.75%	29.52%	-0.22%	24.66%	-47.67%	1.36%
Free Cash Flow Firm Q/Q Growth	-23.60%	1,879.78%	-129.90%	28.08%	41.31%	-175.59%	9.96%	-1.21%	-609.18%	-33.64%
Invested Capital Q/Q Growth	0.90%	-3.19%	4.66%	-4.82%	-2.60%	1.55%	0.44%	2.45%	-2.34%	-18.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	28.63%	26.13%	24.04%	23.80%	25.96%	26.43%	25.89%	24.62%	25.91%	29.38%
EBITDA Margin	18.51%	16.32%	15.08%	14.24%	15.51%	15.42%	14.47%	10.97%	11.12%	14.96%
Operating Margin	15.12%	13.03%	11.21%	10.77%	11.62%	12.04%	11.15%	8.19%	8.59%	13.44%
EBIT Margin	15.05%	12.93%	11.24%	10.06%	11.52%	12.00%	11.10%	7.60%	8.33%	13.31%
Profit (Net Income) Margin	11.62%	9.14%	8.39%	8.29%	8.51%	8.88%	8.63%	6.86%	6.19%	8.27%
Tax Burden Percent	81.96%	77.54%	79.79%	85.54%	77.21%	78.28%	84.23%	100.98%	77.11%	63.56%
Interest Burden Percent	94.18%	91.15%	93.61%	96.31%	95.63%	94.61%	92.31%	89.31%	96.27%	97.75%
Effective Tax Rate	18.04%	22.46%	20.21%	14.46%	22.87%	21.79%	16.04%	0.82%	30.63%	34.13%
Return on Invested Capital (ROIC)	18.03%	14.41%	11.65%	12.04%	12.19%	14.92%	14.38%	12.93%	11.33%	20.85%
ROIC Less NNEP Spread (ROIC-NNEP)	10.29%	8.38%	8.82%	6.00%	8.96%	11.39%	10.67%	4.72%	5.48%	27.99%
Return on Net Nonoperating Assets (RNNOA)	1.74%	2.49%	2.99%	1.50%	2.13%	3.60%	4.66%	1.54%	-0.38%	-4.51%
Return on Equity (ROE)	19.77%	16.90%	14.64%	13.54%	14.32%	18.52%	19.04%	14.47%	10.95%	16.34%
Cash Return on Invested Capital (CROIC)	11.86%	9.15%	-1.98%	-8.98%	12.22%	-0.71%	13.96%	-37.86%	-15.00%	22.60%
Operating Return on Assets (OROA)	16.55%	14.16%	11.15%	9.48%	10.98%	13.38%	11.99%	8.35%	9.01%	15.42%
Return on Assets (ROA)	12.78%	10.01%	8.33%	7.81%	8.10%	9.91%	9.32%	7.53%	6.69%	9.58%
Return on Common Equity (ROCE)	19.77%	16.90%	14.64%	13.54%	14.32%	18.52%	19.04%	14.47%	10.95%	16.34%
Return on Equity Simple (ROE_SIMPLE)	18.24%	15.71%	13.99%	12.83%	13.70%	16.91%	17.73%	13.47%	11.11%	15.66%
Net Operating Profit after Tax (NOPAT)	231	174	128	112	101	115	102	73	42	68
NOPAT Margin	12.39%	10.10%	8.94%	9.22%	8.96%	9.42%	9.36%	8.12%	5.96%	8.85%
Net Nonoperating Expense Percent (NNEP)	7.74%	6.02%	2.83%	6.04%	3.23%	3.54%	3.72%	8.22%	5.86%	-7.14%
Return On Investment Capital (ROIC_SIMPLE)	16.36%	13.38%	10.48%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	71.37%	73.87%	75.96%	76.20%	74.04%	73.57%	74.11%	75.38%	74.09%	70.63%
SG&A Expenses to Revenue	12.57%	12.20%	11.97%	12.30%	13.19%	13.46%	14.60%	16.06%	16.88%	15.89%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	13.52%	13.10%	12.83%	13.02%	14.34%	14.39%	14.74%	16.43%	17.32%	15.94%
Earnings before Interest and Taxes (EBIT)	280	223	161	122	130	147	121	68	59	102
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	345	281	216	173	175	188	158	99	79	115
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.76	4.64	3.23	3.31	2.78	2.92	2.15	2.47	2.19	2.19
Price to Tangible Book Value (P/TBV)	11.10	14.45	13.97	17.75	12.63	20.86	95.70	0.00	5.85	5.12
Price to Revenue (P/Rev)	3.03	2.70	1.94	2.14	1.72	1.54	1.05	1.26	1.22	1.16
Price to Earnings (P/E)	26.10	29.54	23.12	25.79	20.28	17.28	12.12	18.34	19.69	14.01
Dividend Yield	0.52%	0.51%	0.78%	0.85%	0.99%	1.03%	1.64%	1.49%	1.94%	1.75%
Earnings Yield	3.83%	3.38%	4.33%	3.88%	4.93%	5.79%	8.25%	5.45%	5.08%	7.14%
Enterprise Value to Invested Capital (EV/IC)	4.38	3.94	2.63	2.76	2.50	2.48	1.85	1.95	2.11	2.69
Enterprise Value to Revenue (EV/Rev)	3.10	2.84	2.16	2.34	1.84	1.69	1.21	1.53	1.25	1.13
Enterprise Value to EBITDA (EV/EBITDA)	16.77	17.38	14.33	16.41	11.85	10.96	8.36	13.98	11.27	7.58
Enterprise Value to EBIT (EV/EBIT)	20.62	21.95	19.23	23.23	15.95	14.09	10.90	20.18	15.03	8.52
Enterprise Value to NOPAT (EV/NOPAT)	25.05	28.08	24.16	25.37	20.51	17.94	12.92	18.88	21.02	12.81
Enterprise Value to Operating Cash Flow (EV/OCF)	24.98	25.14	43.16	27.86	15.26	20.02	14.21	18.94	35.89	8.96
Enterprise Value to Free Cash Flow (EV/FCFF)	38.08	44.21	0.00	0.00	20.47	0.00	13.32	0.00	0.00	11.82
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.19	0.30	0.42	0.36	0.30	0.34	0.41	0.63	0.19	0.14
Long-Term Debt to Equity	0.17	0.29	0.42	0.36	0.30	0.34	0.41	0.63	0.19	0.14
Financial Leverage	0.17	0.30	0.34	0.25	0.24	0.32	0.44	0.33	-0.07	-0.16
Leverage Ratio	1.55	1.69	1.76	1.73	1.77	1.87	2.04	1.92	1.64	1.71
Compound Leverage Factor	1.46	1.54	1.64	1.67	1.69	1.77	1.88	1.72	1.58	1.67
Debt to Total Capital	15.87%	22.98%	29.66%	26.51%	23.02%	25.58%	29.04%	38.51%	15.93%	12.26%
Short-Term Debt to Total Capital	1.38%	0.36%	0.12%	0.06%	0.02%	0.02%	0.03%	0.04%	0.11%	0.09%
Long-Term Debt to Total Capital	14.50%	22.62%	29.54%	26.45%	23.00%	25.55%	29.01%	38.46%	15.83%	12.18%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	84.13%	77.02%	70.34%	73.49%	76.98%	74.42%	70.96%	61.50%	84.07%	87.74%
Debt to EBITDA	0.65	1.06	1.68	1.64	1.20	1.17	1.38	2.90	0.95	0.49
Net Debt to EBITDA	0.39	0.85	1.46	1.40	0.73	1.00	1.14	2.52	0.31	-0.17
Long-Term Debt to EBITDA	0.59	1.05	1.67	1.63	1.20	1.17	1.37	2.90	0.94	0.49
Debt to NOPAT	0.97	1.72	2.83	2.53	2.07	1.92	2.13	3.92	1.77	0.83
Net Debt to NOPAT	0.58	1.37	2.46	2.17	1.27	1.64	1.76	3.41	0.57	-0.28
Long-Term Debt to NOPAT	0.89	1.69	2.82	2.52	2.07	1.91	2.12	3.92	1.76	0.83
Altman Z-Score	8.57	7.10	4.80	4.79	4.56	4.45	3.63	3.11	4.46	4.64
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.66	2.91	2.94	2.53	2.73	2.25	2.07	2.59	3.06	2.69
Quick Ratio	1.19	1.26	1.23	1.04	1.41	1.04	1.02	1.33	1.55	1.27
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	152	111	-22	-83	102	-5.45	99	-214	-56	74
Operating Cash Flow to CapEx	569.70%	641.58%	135.47%	272.19%	458.59%	291.24%	658.16%	910.00%	404.92%	1,012.50%
Free Cash Flow to Firm to Interest Expense	9.31	5.61	-2.12	-18.53	17.81	-0.69	10.65	-29.27	-25.38	32.03
Operating Cash Flow to Interest Expense	14.19	9.87	6.97	22.62	23.89	13.05	9.98	9.97	11.23	42.26
Operating Cash Flow Less CapEx to Interest Expense	11.70	8.33	1.83	14.31	18.68	8.57	8.46	8.88	8.45	38.09
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.10	1.10	0.99	0.94	0.95	1.12	1.08	1.10	1.08	1.16
Accounts Receivable Turnover	9.73	9.57	9.26	9.23	8.66	9.45	8.98	9.01	9.18	10.48
Inventory Turnover	4.19	4.27	4.18	4.47	4.55	5.28	5.48	5.26	5.06	6.21
Fixed Asset Turnover	9.09	9.31	8.93	9.75	7.20	6.68	7.12	6.63	8.02	14.55
Accounts Payable Turnover	18.24	18.30	15.89	15.88	14.36	13.71	13.73	15.61	14.31	13.61
Days Sales Outstanding (DSO)	37.51	38.14	39.41	39.56	42.16	38.64	40.64	40.52	39.78	34.84
Days Inventory Outstanding (DIO)	87.15	85.49	87.37	81.75	80.20	69.10	66.57	69.33	72.13	58.81
Days Payable Outstanding (DPO)	20.02	19.95	22.97	22.98	25.42	26.63	26.58	23.39	25.50	26.82
Cash Conversion Cycle (CCC)	104.64	103.68	103.81	98.33	96.94	81.11	80.62	86.46	86.40	66.83
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,319	1,240	1,176	1,026	831	831	711	708	421	323
Invested Capital Turnover	1.46	1.43	1.30	1.31	1.36	1.58	1.54	1.59	1.90	2.36
Increase / (Decrease) in Invested Capital	79	64	150	195	-0.20	121	3.00	287	98	-5.70
Enterprise Value (EV)	5,778	4,888	3,099	2,836	2,079	2,064	1,318	1,379	887	871
Market Capitalization	5,646	4,650	2,784	2,594	1,950	1,875	1,139	1,130	863	890
Book Value per Share	$19.41	$16.44	$14.20	$12.84	$11.60	$10.60	$8.80	$7.63	$6.58	$6.53
Tangible Book Value per Share	$8.32	$5.28	$3.29	$2.39	$2.55	$1.49	$0.20	($1.20)	$2.46	$2.80
Total Capital	1,410	1,301	1,224	1,067	912	862	747	744	469	462
Total Debt	224	299	363	283	210	221	217	286	75	57
Total Long-Term Debt	204	294	362	282	210	220	217	286	74	56
Net Debt	133	238	316	242	128	189	180	249	24	-19
Capital Expenditures (CapEx)	41	30	53	37	30	35	14	8.00	6.10	9.60
Debt-free, Cash-free Net Working Capital (DFCFNWC)	329	318	305	221	176	169	133	150	125	122
Debt-free Net Working Capital (DFNWC)	420	379	352	261	257	201	170	187	175	198
Net Working Capital (NWC)	401	374	351	261	257	201	170	187	175	198
Net Nonoperating Expense (NNE)	14	17	7.90	11	5.14	6.55	8.01	11	-1.63	4.47
Net Nonoperating Obligations (NNO)	133	238	316	242	129	190	181	250	27	-83
Total Depreciation and Amortization (D&A)	64	59	55	51	45	42	37	30	20	13
Debt-free, Cash-free Net Working Capital to Revenue	17.67%	18.47%	21.25%	18.19%	15.53%	13.85%	12.16%	16.64%	17.59%	15.92%
Debt-free Net Working Capital to Revenue	22.57%	22.01%	24.56%	21.53%	22.75%	16.43%	15.59%	20.81%	24.75%	25.82%
Net Working Capital to Revenue	21.53%	21.73%	24.46%	21.48%	22.74%	16.42%	15.58%	20.78%	24.68%	25.77%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.55	$2.59	$1.99	$1.65	$1.59	$1.80	$1.57	$1.03	$0.72	$1.02
Adjusted Weighted Average Basic Shares Outstanding	60.90M	60.70M	60.50M	60.80M	60.30M	60.20M	59.90M	59.70M	60.40M	62.20M
Adjusted Diluted Earnings per Share	$3.50	$2.56	$1.97	$1.63	$1.56	$1.76	$1.54	$1.02	$0.71	$1.00
Adjusted Weighted Average Diluted Shares Outstanding	61.70M	61.50M	61.20M	61.90M	61.70M	61.60M	61.20M	60.40M	61.20M	63.40M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	61.10M	61.00M	60.75M	60.93M	60.54M	60.58M	60.15M	60.00M	59.72M	62.43M
Normalized Net Operating Profit after Tax (NOPAT)	231	174	128	112	102	117	102	74	44	68
Normalized NOPAT Margin	12.39%	10.10%	8.94%	9.22%	9.05%	9.58%	9.36%	8.19%	6.26%	8.89%
Pre Tax Income Margin	14.18%	11.78%	10.52%	9.69%	11.02%	11.35%	10.24%	6.79%	8.02%	13.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	17.19	11.30	15.65	27.13	22.86	18.54	13.00	9.36	26.82	44.43
NOPAT to Interest Expense	14.15	8.84	12.46	24.85	17.78	14.56	10.97	10.00	19.17	29.55
EBIT Less CapEx to Interest Expense	14.70	9.77	10.50	18.82	17.65	14.06	11.48	8.26	24.05	40.26
NOPAT Less CapEx to Interest Expense	11.66	7.30	7.31	16.53	12.57	10.08	9.45	8.90	16.40	25.38
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	13.55%	15.12%	18.11%	21.87%	20.17%	17.79%	19.89%	27.27%	38.58%	24.57%
Augmented Payout Ratio	16.64%	18.62%	31.48%	37.18%	34.41%	18.71%	21.17%	27.27%	124.89%	41.26%

This table displays calculated financial ratios and metrics derived from Federal Signal's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.16%	5.26%	6.23%	10.85%	10.22%	14.53%	28.87%	20.64%	16.75%	29.89%	16.12%
EBITDA Growth	21.48%	12.69%	19.51%	31.01%	29.76%	28.29%	45.09%	21.59%	25.53%	82.58%	12.05%
EBIT Growth	20.15%	11.15%	21.54%	38.42%	37.31%	35.34%	57.87%	25.38%	36.33%	127.45%	13.87%
NOPAT Growth	-10.87%	11.34%	18.89%	40.07%	76.49%	30.37%	38.48%	30.90%	47.34%	25.58%	14.48%
Net Income Growth	-10.27%	7.76%	24.48%	50.87%	88.32%	34.10%	36.16%	20.30%	33.66%	77.44%	8.90%
EPS Growth	-10.71%	8.11%	22.54%	50.00%	86.67%	29.82%	36.54%	20.00%	36.36%	78.13%	10.64%
Operating Cash Flow Growth	17.25%	-12.38%	43.33%	13.09%	340.85%	162.44%	380.00%	133.12%	1.43%	-15.63%	-36.71%
Free Cash Flow Firm Growth	-1,754.97%	-72.30%	127.47%	131.02%	100.53%	87.96%	-853.52%	12.98%	-230.64%	32.14%	94.12%
Invested Capital Growth	12.15%	6.36%	2.05%	1.71%	3.99%	5.40%	13.95%	16.26%	0.00%	14.63%	4.24%
Revenue Q/Q Growth	-1.74%	-0.46%	-3.30%	15.42%	-5.24%	0.45%	0.90%	14.76%	-1.53%	13.02%	-5.54%
EBITDA Q/Q Growth	-4.78%	-4.35%	-4.17%	39.19%	-11.67%	1.43%	5.05%	37.85%	-12.66%	14.72%	-11.96%
EBIT Q/Q Growth	-6.88%	-7.67%	-6.32%	49.17%	-13.85%	0.96%	6.69%	47.97%	-15.09%	17.77%	-15.27%
NOPAT Q/Q Growth	-11.95%	-1.11%	-11.43%	15.58%	9.99%	5.60%	4.34%	45.63%	-18.75%	12.16%	-1.37%
Net Income Q/Q Growth	-7.40%	-7.24%	-11.35%	17.83%	11.21%	7.16%	7.44%	47.08%	-20.81%	8.81%	-5.07%
EPS Q/Q Growth	-6.25%	-8.05%	-12.12%	17.86%	13.51%	4.23%	7.58%	46.67%	-21.05%	9.62%	-5.45%
Operating Cash Flow Q/Q Growth	-59.49%	31.69%	69.46%	29.71%	-69.73%	115.42%	33.70%	405.63%	-81.98%	294.00%	-35.06%
Free Cash Flow Firm Q/Q Growth	-353.20%	-177.13%	-27.81%	555.83%	147.18%	87.70%	18.46%	88.70%	-963.38%	-873.61%	92.56%
Invested Capital Q/Q Growth	7.82%	0.90%	0.06%	3.04%	2.25%	-3.19%	-0.27%	5.35%	3.63%	4.66%	1.75%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	28.20%	28.09%	29.61%	29.36%	27.30%	26.63%	26.37%	26.51%	24.85%	24.67%	23.90%
EBITDA Margin	18.05%	18.62%	19.38%	19.56%	16.22%	17.40%	17.23%	16.55%	13.77%	15.53%	15.30%
Operating Margin	14.17%	14.85%	16.01%	16.54%	12.78%	14.07%	14.00%	13.43%	10.25%	11.90%	11.40%
EBIT Margin	14.01%	14.79%	15.94%	16.46%	12.73%	14.01%	13.93%	13.18%	10.22%	11.85%	11.37%
Profit (Net Income) Margin	9.98%	10.59%	11.37%	12.40%	12.14%	10.35%	9.70%	9.11%	7.11%	8.84%	9.18%
Tax Burden Percent	74.68%	79.49%	74.24%	78.45%	101.38%	79.32%	75.83%	76.47%	78.96%	82.38%	86.65%
Interest Burden Percent	95.38%	90.11%	96.03%	96.03%	94.09%	93.15%	91.80%	90.39%	88.07%	90.52%	93.15%
Effective Tax Rate	25.32%	20.51%	25.76%	21.55%	-1.38%	20.68%	24.17%	23.53%	21.04%	17.62%	13.35%
Return on Invested Capital (ROIC)	14.95%	17.18%	16.88%	18.13%	18.36%	15.92%	14.71%	13.46%	19.78%	12.77%	12.07%
ROIC Less NNEP Spread (ROIC-NNEP)	13.70%	14.09%	15.86%	17.13%	17.13%	14.60%	13.39%	11.90%	17.53%	11.42%	11.24%
Return on Net Nonoperating Assets (RNNOA)	2.70%	2.39%	3.64%	4.80%	4.98%	4.34%	4.66%	4.50%	6.70%	3.87%	4.08%
Return on Equity (ROE)	17.65%	19.57%	20.52%	22.93%	23.34%	20.25%	19.37%	17.96%	26.48%	16.65%	16.15%
Cash Return on Invested Capital (CROIC)	5.25%	11.86%	15.35%	14.99%	12.03%	9.15%	0.46%	-2.53%	-177.29%	-1.98%	6.62%
Operating Return on Assets (OROA)	15.09%	16.26%	17.30%	17.77%	13.87%	15.34%	14.88%	13.29%	9.61%	11.77%	10.58%
Return on Assets (ROA)	10.75%	11.65%	12.33%	13.39%	13.23%	11.34%	10.36%	9.19%	6.69%	8.77%	8.54%
Return on Common Equity (ROCE)	17.65%	19.57%	20.52%	22.93%	23.34%	20.25%	19.37%	17.96%	26.48%	16.65%	16.15%
Return on Equity Simple (ROE_SIMPLE)	17.55%	0.00%	18.51%	18.38%	17.39%	0.00%	15.23%	14.51%	14.43%	0.00%	12.72%
Net Operating Profit after Tax (NOPAT)	49	56	56	64	55	50	47	45	31	38	34
NOPAT Margin	10.58%	11.81%	11.88%	12.97%	12.96%	11.16%	10.62%	10.27%	8.09%	9.81%	9.88%
Net Nonoperating Expense Percent (NNEP)	1.25%	3.09%	1.02%	1.00%	1.23%	1.32%	1.32%	1.56%	2.25%	1.36%	0.83%
Return On Investment Capital (ROIC_SIMPLE)	3.32%	3.95%	-	-	-	3.85%	-	-	-	3.14%	-
Cost of Revenue to Revenue	71.80%	71.91%	70.39%	70.64%	72.70%	73.37%	73.63%	73.49%	75.15%	75.33%	76.10%
SG&A Expenses to Revenue	12.98%	12.37%	12.67%	11.89%	13.46%	12.07%	11.34%	12.07%	13.49%	11.80%	11.49%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.04%	13.24%	13.60%	12.83%	14.52%	12.56%	12.37%	13.09%	14.60%	12.77%	12.50%
Earnings before Interest and Taxes (EBIT)	65	70	76	81	54	63	62	58	39	46	39
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	84	88	92	96	69	78	77	73	53	61	53
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.74	4.76	4.97	4.64	4.94	4.64	3.79	4.19	3.70	3.23	2.70
Price to Tangible Book Value (P/TBV)	9.72	11.10	11.89	11.90	13.95	14.45	13.41	16.70	15.48	13.97	11.19
Price to Revenue (P/Rev)	2.36	3.03	3.11	2.82	2.93	2.70	2.17	2.47	2.19	1.94	1.66
Price to Earnings (P/E)	21.30	26.10	26.87	25.26	28.40	29.54	24.88	28.86	25.64	23.12	21.22
Dividend Yield	0.68%	0.52%	0.49%	0.53%	0.50%	0.51%	0.64%	0.58%	0.67%	0.78%	0.98%
Earnings Yield	4.70%	3.83%	3.72%	3.96%	3.52%	3.38%	4.02%	3.46%	3.90%	4.33%	4.71%
Enterprise Value to Invested Capital (EV/IC)	3.31	4.38	4.49	4.07	4.24	3.94	3.08	3.29	2.95	2.63	2.25
Enterprise Value to Revenue (EV/Rev)	2.48	3.10	3.20	2.94	3.05	2.84	2.37	2.70	2.42	2.16	1.88
Enterprise Value to EBITDA (EV/EBITDA)	13.11	16.77	17.55	16.62	18.12	17.38	14.95	17.62	15.86	14.33	13.40
Enterprise Value to EBIT (EV/EBIT)	16.19	20.62	21.49	20.45	22.67	21.95	19.14	23.06	20.97	19.23	18.71
Enterprise Value to NOPAT (EV/NOPAT)	20.98	25.05	26.11	24.57	27.14	28.08	24.31	28.33	26.01	24.16	21.33
Enterprise Value to Operating Cash Flow (EV/OCF)	19.91	24.98	24.06	23.79	24.62	25.14	30.27	45.79	50.08	43.16	31.98
Enterprise Value to Free Cash Flow (EV/FCFF)	66.80	38.08	29.57	27.36	35.98	44.21	706.83	0.00	0.00	0.00	34.70
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.23	0.19	0.20	0.23	0.26	0.30	0.38	0.44	0.43	0.42	0.40
Long-Term Debt to Equity	0.22	0.17	0.19	0.23	0.26	0.29	0.38	0.44	0.42	0.42	0.40
Financial Leverage	0.20	0.17	0.23	0.28	0.29	0.30	0.35	0.38	0.38	0.34	0.36
Leverage Ratio	1.57	1.55	1.61	1.66	1.68	1.69	1.75	1.79	1.80	1.76	1.79
Compound Leverage Factor	1.50	1.39	1.55	1.59	1.58	1.57	1.61	1.62	1.58	1.59	1.67
Debt to Total Capital	18.72%	15.87%	16.76%	18.84%	20.68%	22.98%	27.68%	30.70%	29.86%	29.66%	28.59%
Short-Term Debt to Total Capital	0.68%	1.38%	0.59%	0.48%	0.42%	0.36%	0.30%	0.23%	0.18%	0.12%	0.06%
Long-Term Debt to Total Capital	18.04%	14.50%	16.17%	18.36%	20.26%	22.62%	27.39%	30.46%	29.68%	29.54%	28.53%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	81.28%	84.13%	83.24%	81.16%	79.32%	77.02%	72.32%	69.30%	70.14%	70.34%	71.41%
Debt to EBITDA	0.77	0.65	0.69	0.80	0.92	1.06	1.39	1.70	1.65	1.68	1.76
Net Debt to EBITDA	0.61	0.39	0.47	0.65	0.75	0.85	1.23	1.50	1.48	1.46	1.57
Long-Term Debt to EBITDA	0.74	0.59	0.67	0.78	0.90	1.05	1.37	1.69	1.64	1.67	1.75
Debt to NOPAT	1.23	0.97	1.03	1.18	1.37	1.72	2.25	2.74	2.71	2.83	2.79
Net Debt to NOPAT	0.98	0.58	0.70	0.96	1.13	1.37	2.00	2.41	2.44	2.46	2.50
Long-Term Debt to NOPAT	1.19	0.89	0.99	1.15	1.35	1.69	2.23	2.72	2.70	2.82	2.79
Altman Z-Score	6.20	8.18	8.22	7.53	7.37	6.77	5.27	5.21	4.80	4.55	4.10
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.39	2.66	2.83	2.89	2.82	2.91	2.98	3.05	2.79	2.94	2.82
Quick Ratio	1.01	1.19	1.28	1.24	1.14	1.26	1.26	1.22	1.13	1.23	1.13
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-105	-23	30	42	6.35	-13	-109	-134	-1,188	-112	-11
Operating Cash Flow to CapEx	655.36%	1,065.88%	870.89%	256.96%	372.62%	1,161.80%	842.11%	370.10%	118.33%	532.43%	243.90%
Free Cash Flow to Firm to Interest Expense	-35.01	-3.36	10.02	13.01	1.98	-3.13	-21.45	-23.96	-252.75	-25.39	-4.25
Operating Cash Flow to Interest Expense	12.23	13.13	22.93	12.69	9.78	24.05	9.41	6.41	1.51	8.95	3.70
Operating Cash Flow Less CapEx to Interest Expense	10.37	11.90	20.30	7.75	7.16	21.98	8.29	4.68	0.23	7.27	2.19
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.08	1.10	1.08	1.08	1.09	1.10	1.07	1.01	0.94	0.99	0.93
Accounts Receivable Turnover	9.17	9.73	8.48	8.89	9.20	9.57	8.69	8.62	7.78	9.26	8.24
Inventory Turnover	3.95	4.19	3.95	3.94	4.03	4.27	4.01	3.92	3.54	4.18	3.83
Fixed Asset Turnover	8.86	9.09	9.33	9.22	9.43	9.31	9.28	8.67	8.24	8.93	7.88
Accounts Payable Turnover	14.05	18.24	15.39	15.12	14.01	18.30	15.17	14.26	11.77	15.89	12.74
Days Sales Outstanding (DSO)	39.82	37.51	43.06	41.04	39.67	38.14	41.99	42.34	46.93	39.41	44.30
Days Inventory Outstanding (DIO)	92.38	87.15	92.36	92.61	90.47	85.49	91.01	93.17	103.03	87.37	95.28
Days Payable Outstanding (DPO)	25.99	20.02	23.72	24.14	26.05	19.95	24.07	25.60	31.01	22.97	28.66
Cash Conversion Cycle (CCC)	106.21	104.64	111.70	109.50	104.08	103.68	108.94	109.91	118.95	103.81	110.91
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,422	1,319	1,307	1,306	1,268	1,240	1,281	1,284	1,219	1,176	1,124
Invested Capital Turnover	1.41	1.46	1.42	1.40	1.42	1.43	1.39	1.31	2.44	1.30	1.22
Increase / (Decrease) in Invested Capital	154	79	26	22	49	64	157	180	1,219	150	46
Enterprise Value (EV)	4,713	5,778	5,872	5,313	5,381	4,888	3,948	4,231	3,601	3,099	2,530
Market Capitalization	4,494	5,646	5,715	5,106	5,157	4,650	3,623	3,871	3,264	2,784	2,234
Book Value per Share	$19.68	$19.41	$18.80	$18.00	$17.15	$16.44	$15.67	$15.17	$14.52	$14.20	$13.66
Tangible Book Value per Share	$7.57	$8.32	$7.86	$7.02	$6.07	$5.28	$4.43	$3.81	$3.47	$3.29	$3.29
Total Capital	1,479	1,410	1,381	1,355	1,317	1,301	1,322	1,333	1,258	1,224	1,160
Total Debt	277	224	231	255	272	299	366	409	376	363	332
Total Long-Term Debt	267	204	223	249	267	294	362	406	373	362	331
Net Debt	220	133	158	207	223	238	325	360	337	316	296
Capital Expenditures (CapEx)	5.60	8.50	7.90	16	8.40	8.90	5.70	9.70	6.00	7.40	4.10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	339	329	354	358	341	318	364	362	327	305	295
Debt-free Net Working Capital (DFNWC)	397	420	428	407	390	379	405	411	366	352	330
Net Working Capital (NWC)	386	401	420	400	384	374	401	408	363	351	329
Net Nonoperating Expense (NNE)	2.76	5.72	2.45	2.82	3.45	3.65	4.09	5.12	3.79	3.79	2.43
Net Nonoperating Obligations (NNO)	220	133	158	207	223	238	325	360	337	316	296
Total Depreciation and Amortization (D&A)	19	18	16	15	15	15	15	15	14	14	14
Debt-free, Cash-free Net Working Capital to Revenue	17.84%	17.67%	19.27%	19.78%	19.35%	18.47%	21.85%	23.11%	21.95%	21.25%	21.91%
Debt-free Net Working Capital to Revenue	20.86%	22.57%	23.28%	22.46%	22.12%	22.01%	24.31%	26.23%	24.53%	24.56%	24.55%
Net Working Capital to Revenue	20.33%	21.53%	22.84%	22.10%	21.81%	21.73%	24.08%	26.03%	24.37%	24.46%	24.50%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.76	$0.82	$0.88	$1.00	$0.85	$0.77	$0.71	$0.66	$0.45	$0.57	$0.53
Adjusted Weighted Average Basic Shares Outstanding	61.10M	60.90M	61M	61M	60.90M	60.70M	60.80M	60.70M	60.70M	60.50M	60.40M
Adjusted Diluted Earnings per Share	$0.75	$0.80	$0.87	$0.99	$0.84	$0.74	$0.71	$0.66	$0.45	$0.57	$0.52
Adjusted Weighted Average Diluted Shares Outstanding	61.80M	61.70M	61.70M	61.70M	61.60M	61.50M	61.40M	61.40M	61.30M	61.20M	61M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	60.97M	61.10M	61.11M	61.15M	61.10M	61.00M	60.93M	60.99M	60.89M	60.75M	60.64M
Normalized Net Operating Profit after Tax (NOPAT)	49	56	56	64	38	50	47	45	31	38	34
Normalized NOPAT Margin	10.58%	11.81%	11.88%	12.97%	8.95%	11.16%	10.62%	10.27%	8.09%	9.81%	9.88%
Pre Tax Income Margin	13.37%	13.33%	15.31%	15.80%	11.98%	13.05%	12.79%	11.91%	9.00%	10.73%	10.59%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	21.67	10.12	25.20	25.22	16.91	14.60	12.20	10.41	8.38	10.55	14.59
NOPAT to Interest Expense	16.35	8.08	18.78	19.88	17.20	11.64	9.29	8.11	6.64	8.72	12.68
EBIT Less CapEx to Interest Expense	19.80	8.88	22.57	20.28	14.28	12.53	11.08	8.68	7.11	8.86	13.07
NOPAT Less CapEx to Interest Expense	14.49	6.84	16.15	14.95	14.58	9.57	8.18	6.38	5.36	7.04	11.16
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	14.50%	13.55%	13.21%	13.31%	14.10%	15.12%	15.87%	16.78%	17.12%	18.11%	20.80%
Augmented Payout Ratio	26.40%	16.64%	15.89%	16.08%	17.18%	18.62%	18.82%	16.78%	19.09%	31.48%	47.48%

Frequently Asked Questions About Federal Signal's Financials

When does Federal Signal's financial year end?

According to the most recent income statement we have on file, Federal Signal's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Federal Signal's net income changed over the last 9 years?

Federal Signal's net income appears to be on an upward trend, with a most recent value of $216.30 million in 2024, rising from $63.50 million in 2015. The previous period was $157.40 million in 2023. See where experts think Federal Signal is headed by visiting Federal Signal's forecast page.

What is Federal Signal's operating income?

Federal Signal's total operating income in 2024 was $281.40 million, based on the following breakdown:

Total Gross Profit: $533 million
Total Operating Expenses: $251.60 million

How has Federal Signal revenue changed over the last 9 years?

Over the last 9 years, Federal Signal's total revenue changed from $768 million in 2015 to $1.86 billion in 2024, a change of 142.4%.

How much debt does Federal Signal have?

Federal Signal's total liabilities were at $579.10 million at the end of 2024, a 6.4% decrease from 2023, and a 122.0% increase since 2015.

How much cash does Federal Signal have?

In the past 9 years, Federal Signal's cash and equivalents has ranged from $31.60 million in 2019 to $91.10 million in 2024, and is currently $91.10 million as of their latest financial filing in 2024.

How has Federal Signal's book value per share changed over the last 9 years?

Over the last 9 years, Federal Signal's book value per share changed from 6.53 in 2015 to 19.41 in 2024, a change of 197.4%.

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This page (NYSE:FSS) was last updated on 5/25/2025 by MarketBeat.com Staff

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Federal Signal (FSS) Financials

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Federal Signal (FSS) Financials

Annual Income Statements for Federal Signal

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