Saturday 17 October 2026
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Federal Signal Corporation
FSS Industrials Farm & Heavy Construction Machinery
Federal Signal Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 17.1% from fiscal 2024. In the quarter to June 2026, revenue grew 18.7%, EPS grew 19.5%, free cash flow grew 92.8% and total debt rose 68.6%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five, operating cash flow growth for three; insiders bought in the last twelve months.
112.39
1.08
−0.95%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
22.04 | 19.34 | 12.68 | 17.92 | 20.73 | 26.11 | 23.37 | 29.18 | 26.03 | 26.75 |
Piotroski F-Score |
4 | 6 | 5 | 7 | 5 | 3 | 7 | 7 | 7 | 6 |
P/S ratio |
1.35 | 1.32 | 1.09 | 1.59 | 1.77 | 2.17 | 1.96 | 2.65 | 3.02 | 3.03 |
Altman Z-Score |
4.67 | 3.21 | 3.69 | 4.53 | 4.62 | 4.85 | 4.83 | 7.11 | 8.56 | 6.36 |
Altman Z″-Score (non-manufacturers) |
5.61 | 3.77 | 4.39 | 4.74 | 5.21 | 4.94 | 5.25 | 5.99 | 6.75 | 5.75 |
P/FCF ratio |
51.53 | 18.35 | 15.15 | 28.68 | 18.78 | 40.92 | 149.64 | 27.85 | 29.50 | 29.07 |
Beneish M-Score |
(2.15) | (2.29) | (2.41) | (2.33) | (2.66) | (2.38) | (2.14) | (2.51) | (2.48) | (2.21) |
P/Operating CF |
140.96 | 56.10 | 56.76 | 43.63 | 35.34 | 56.43 | 71.40 | 44.19 | 62.10 | 67.92 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 89 |
P/B ratio |
2.43 | 2.60 | 2.25 | 3.03 | 2.85 | 3.36 | 3.27 | 4.56 | 4.74 | 4.78 |
Price to Tangible BV |
6.50 | 0.00 | 100.17 | 21.60 | 12.95 | 18.04 | 14.12 | 14.20 | 11.06 | 17.41 |
EV/Sales |
1.37 | 1.59 | 1.25 | 1.74 | 1.88 | 2.37 | 2.18 | 2.79 | 3.09 | 3.26 |
EV/EBITDA |
12.07 | 13.76 | 8.62 | 11.28 | 12.06 | 15.89 | 14.52 | 17.02 | 16.68 | 16.86 |
EV/Operating CF |
39.35 | 19.63 | 14.71 | 20.66 | 15.63 | 28.27 | 43.58 | 24.73 | 24.90 | 27.89 |
EV/FCF |
52.25 | 22.06 | 17.34 | 31.47 | 19.99 | 44.68 | 166.42 | 29.30 | 30.20 | 31.28 |
Quick Ratio |
1.55 | 1.33 | 1.02 | 1.04 | 1.41 | 1.04 | 1.23 | 1.26 | 1.19 | 1.26 |
Current Ratio |
3.06 | 2.59 | 2.07 | 2.25 | 2.73 | 2.53 | 2.94 | 2.91 | 2.66 | 3.02 |
Net Debt/EBITDA |
0.17 | 2.31 | 1.09 | 1.00 | 0.73 | 1.34 | 1.46 | 0.84 | 0.38 | 1.19 |
Debt/Assets |
9.95% | 27.99% | 20.52% | 18.92% | 17.37% | 20.70% | 23.81% | 18.45% | 12.68% | 23.62% |
Debt/Equity |
0.16 | 0.61 | 0.40 | 0.34 | 0.30 | 0.36 | 0.42 | 0.30 | 0.19 | 0.41 |
Asset Turnover |
1.08 | 1.10 | 1.08 | 1.12 | 0.95 | 0.94 | 0.99 | 1.10 | 1.10 | 1.05 |
Operating CF/Net income |
0.56 | 1.18 | 0.99 | 0.95 | 1.42 | 1.01 | 0.60 | 1.24 | 1.07 | 1.03 |
Capex/Depreciation |
(0.31) | (0.26) | (0.38) | (0.85) | (0.66) | (0.74) | (0.97) | (0.52) | (0.64) | (0.34) |
Interest Coverage |
32.00 | 10.08 | 13.06 | 18.62 | 23.05 | 29.04 | 15.61 | 11.40 | 22.51 | 24.18 |
| 10.95% | 14.47% | 19.04% | 18.52% | 14.32% | 13.54% | 14.64% | 16.90% | 19.77% | 19.20% | |
| 6.69% | 7.53% | 9.32% | 9.91% | 8.10% | 7.81% | 8.33% | 10.01% | 12.78% | 11.86% | |
ROIC |
9.33% | 6.59% | 10.80% | 11.07% | 9.89% | 7.96% | 8.54% | 11.32% | 13.34% | 11.31% |
Return on Tangible Assets |
20.13% | 24.96% | 40.57% | 37.11% | 26.43% | 24.99% | 22.71% | 27.85% | 34.91% | 29.15% |
Average Days of Receivables |
41.92 | 48.02 | 41.68 | 40.11 | 40.99 | 40.92 | 44.21 | 39.45 | 38.51 | 48.91 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
16.88% | 16.06% | 14.60% | 13.46% | 13.19% | 12.30% | 11.97% | 12.20% | 12.57% | 11.74% |
Intangible Assets out of Total Assets |
0.38 | 0.53 | 0.51 | 0.47 | 0.45 | 0.47 | 0.43 | 0.42 | 0.38 | 0.42 |
Share Based Compensation of Revenue |
0.68% | 0.51% | 0.70% | 0.72% | 0.74% | 0.63% | 0.71% | 0.76% | 0.84% | 0.69% |
Graham Net Nets |
0.01 | (0.19) | (0.14) | (0.08) | (0.05) | (0.06) | (0.05) | (0.01) | 0.01 | (0.02) |
Graham Number |
10.28 | 13.33 | 17.68 | 20.78 | 20.47 | 21.95 | 25.24 | 30.95 | 39.44 | 45.57 |
Earnings Yield |
4.54% | 5.17% | 7.89% | 5.58% | 4.82% | 3.83% | 4.28% | 3.43% | 3.84% | 3.74% |
Free Cash Flow Yield |
1.94% | 5.45% | 6.60% | 3.49% | 5.32% | 2.44% | 0.67% | 3.59% | 3.39% | 3.44% |
Revenue per Share |
11.72 | 15.05 | 18.19 | 20.29 | 18.75 | 19.95 | 23.72 | 28.38 | 30.57 | 35.86 |
Operating CF per Share |
0.41 | 1.22 | 1.55 | 1.71 | 2.26 | 1.67 | 1.19 | 3.20 | 3.80 | 4.19 |
Capex per Share |
(0.10) | (0.13) | (0.24) | (0.59) | (0.49) | (0.62) | (0.88) | (0.50) | (0.67) | (0.45) |
Free Cash Flow per Share |
0.31 | 1.09 | 1.31 | 1.12 | 1.77 | 1.06 | 0.31 | 2.70 | 3.13 | 3.74 |
Cash per Share |
0.84 | 0.63 | 0.62 | 0.52 | 1.35 | 0.67 | 0.79 | 1.00 | 1.50 | 1.05 |
Shareholders Equity per Share |
6.52 | 7.66 | 8.85 | 10.66 | 11.64 | 12.89 | 14.23 | 16.51 | 19.48 | 22.73 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
6.52 | 7.66 | 8.85 | 10.66 | 11.64 | 12.89 | 14.23 | 16.51 | 19.48 | 22.73 |
Free Cash Flow |
18.60 | 64.80 | 78.70 | 67.70 | 106.50 | 64.40 | 18.80 | 164.10 | 190.70 | 227.10 |
Working Capital |
174.70 | 186.70 | 169.70 | 200.50 | 257.10 | 260.60 | 350.90 | 374.40 | 400.70 | 571.40 |
Capital Expenditures |
(6.10) | (8.00) | (14.10) | (35.40) | (29.70) | (37.40) | (53.00) | (30.30) | (40.60) | (27.60) |
Net Current Asset Value |
10.50 | (231.10) | (165.20) | (163.20) | (101.20) | (151.10) | (132.00) | (48.40) | 63.40 | (156.80) |
EV/EBIT |
15.98 | 19.42 | 11.23 | 14.48 | 16.20 | 22.02 | 19.46 | 21.41 | 20.47 | 20.84 |
Capex to Sales |
0.01 | 0.01 | 0.01 | 0.03 | 0.03 | 0.03 | 0.04 | 0.02 | 0.02 | 0.01 |
Price to Operating Income |
15.77 | 16.16 | 9.81 | 13.20 | 15.22 | 20.16 | 17.50 | 20.35 | 19.99 | 19.37 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.46 | 0.50 | 0.59 | 0.45 | 0.42 | 0.36 | 0.31 | 0.30 | 0.29 | 0.29 |
Cash ROIC |
3.66% | 8.39% | 10.12% | 7.58% | 10.72% | 5.82% | 1.48% | 12.05% | 12.70% | 11.29% |
Accounts Receivable Turnover |
9.18 | 9.01 | 8.98 | 9.45 | 8.66 | 9.23 | 9.26 | 9.57 | 9.73 | 8.93 |
Accounts Payable Turnover |
14.31 | 15.61 | 13.73 | 13.71 | 14.36 | 15.88 | 15.89 | 18.30 | 18.24 | 17.51 |
Inventory Turnover |
5.06 | 5.26 | 5.48 | 5.28 | 4.55 | 4.47 | 4.18 | 4.27 | 4.19 | 3.86 |
Average Days of Payables |
24.57 | 27.75 | 29.88 | 26.41 | 22.50 | 25.58 | 24.25 | 19.13 | 21.70 | 23.09 |
Days of Inventory on Hand |
83.58 | 73.94 | 71.11 | 74.30 | 80.66 | 90.45 | 98.02 | 87.03 | 90.94 | 111.10 |
Average Receivables |
77.15 | 99.75 | 121.30 | 129.30 | 130.60 | 131.50 | 154.90 | 180.00 | 191.30 | 244.30 |
Average Payables |
36.65 | 43.40 | 58.80 | 65.55 | 58.30 | 58.20 | 68.60 | 69.55 | 72.85 | 88.50 |
Average Inventory |
103.65 | 128.65 | 147.25 | 170.10 | 183.95 | 207.05 | 260.90 | 298.05 | 317.20 | 401.30 |
Average Assets |
654.85 | 817.75 | 1,008.05 | 1,094.65 | 1,187.15 | 1,287.45 | 1,445.20 | 1,572.40 | 1,692.85 | 2,078.90 |
Average Common Equity |
399.85 | 425.75 | 493.75 | 585.85 | 671.85 | 743.05 | 822.45 | 931.40 | 1,094.00 | 1,284.05 |
Columns are period end dates