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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%
Market cap
$6.9B
P/E
24.0×
Fwd P/E
21.5×
Dividend yield
0.52%
F-score
6/9
Altman Z
6.36
Beneish M
−2.21
Dividend safety
89/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.22
Total sells 9.01
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — 1 — — — — — — —
Sell 1 — — — — — — — — 2 — —
Insider Ownership 2.23%

Capital & Financial Ratios $m

Market Cap 6,930.00
Revenue 2,447.90
Net Income 285.40
Free Cash Flow 339.20
Net Debt 390.80
Current Ratio 2.74 (at or above 1.5: strong)
Debt/Equity 0.30 (at or below 0.5: strong)
P/E ratio 23.96
Fwd P/E 21.50
P/S ratio 2.80
P/B ratio 4.54
Past 5Y EPS Growth 20.78% (at or above 15%: strong)
This Y EPS Growth 23.66% (at or above 15%: strong)
Next Y EPS Growth 10.48%
Next Y revenue growth 20.98% (at or above 10%: strong)
Next 5Y EPS Growth 15.42% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.0×, against a ten-year median of 2.0×; over the ten years it ranged from 0.9× in 2016 to 4.0× in 2025.
P/E against its own 10 years 53.11%
10-year low 10-year high
P/S against its own 10 years 77.63%
10-year low 10-year high
P/B against its own 10 years 76.67%
10-year low 10-year high
EV/Sales against its own 10 years 78.18%
10-year low 10-year high
EV/FCF against its own 10 years 18.39%
10-year low 10-year high

Dividends

Payout Ratio 0.13
Annual Dividend Rate 0.59
Annual Dividend Yield 0.52%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.60
0.15
0.15
0.15
2025 0.56
0.14
0.14
0.14
0.14
2024 0.48
0.12
0.12
0.12
0.12
2023 0.39
0.09
0.10
0.10
0.10
2022 0.36
0.09
0.09
0.09
0.09
2021 0.36
0.09
0.09
0.09
0.09
2020 0.32
0.08
0.08
0.08
0.08
2019 0.32
0.08
0.08
0.08
0.08
2018 0.31
0.07
0.08
0.08
0.08
2017 0.28
0.07
0.07
0.07
0.07
2016 0.28
0.07
0.07
0.07
0.07
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 61 91 64 63
Receivables 186 196 292 289
Inventory 303 331 472 480
Other — — — —
570 643 854 857
2023 2024 2025 Q'26
Payables 67 79 98 115
ST’ Debt 5 19 1 5
Other 48 52 61 75
196 242 282 313

Compound Annual Growth %

10y 5y 3y
Sales 11.00% 14.03% 14.97%
Cash Flow 10.11% 13.34% 52.51%
Earnings 14.53% 20.72% 27.00%
Book Value 13.04% 14.50% 17.09%

Revenue $m

Mar Jun Sep Dec Year
’26 626 670 — — —
’25 464 565 555 597 2,181
’24 425 490 474 472 1,862
’23 386 442 446 448 1,723
’22 330 367 346 392 1,435
’21 279 335 298 301 1,213
’20 286 270 280 295 1,131
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 101 113 — — —
’25 37 60 61 97 255
’24 31 41 69 91 231
’23 7 36 48 103 194
’22 7 15 10 39 72
’21 26 13 16 47 102
’20 5 60 15 57 136
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 95 101 — — —
’25 31 52 54 90 227
’24 23 25 61 82 191
’23 1 26 42 95 164
’22 (27) 8 6 32 19
’21 22 8 13 22 64
’20 (4) 53 7 51 107
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.14 1.40 — — —
’25 0.75 1.16 1.11 0.99 4.01
’24 0.84 0.99 0.87 0.81 3.50
’23 0.45 0.66 0.71 0.75 2.56
’22 0.33 0.55 0.52 0.57 1.97
’21 0.36 0.48 0.47 0.32 1.63
’20 0.38 0.35 0.41 0.42 1.56
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 11.16 13.07 18.37 19.38 23.32 31.83 31.86 45.86 71.29 66.47

Analyst estimates 2026–2028

Powerpack
High 16.65 23.64 28.32 35.75 34.87 48.88 50.56 78.54 102.18 132.89
People
People Employees 2,200 3,100 3,300 3,600 3,500 3,900 4,100 4,500 4,700 5,800
Revenue/emp, $m 0.32 0.29 0.33 0.34 0.32 0.31 0.35 0.38 0.40 0.38
Income, $m
Income, $m Revenue 708 899 1,090 1,221 1,131 1,213 1,435 1,723 1,862 2,181
Gross margin, % 25.91 24.62 25.89 26.43 25.96 23.80 24.04 26.13 28.63 28.95
EBT 57 61 112 139 125 118 151 203 264 325
EBT margin, % 8.02 6.79 10.24 11.35 11.02 9.69 10.52 11.78 14.18 14.88
Net income 44 62 94 109 96 101 120 157 216 247
Depreciation 20 30 37 42 45 50 55 58 64 81
Per share, $
Per share, $ Revenue 11.72 15.05 18.19 20.29 18.75 19.95 23.72 28.38 30.57 35.86
Earnings 0.72 1.03 1.57 1.80 1.59 1.65 1.99 2.59 3.55 4.06
Cash flow 0.41 1.22 1.55 1.71 2.26 1.67 1.19 3.20 3.80 4.19
Capex (0.10) (0.13) (0.24) (0.59) (0.49) (0.62) (0.88) (0.50) (0.67) (0.45)
Free cash flow 0.31 1.09 1.31 1.12 1.77 1.06 0.31 2.70 3.13 3.74
Book value 6.52 7.66 8.85 10.66 11.64 12.89 14.23 16.51 19.48 22.73
Shares, m 60 60 60 60 60 61 61 61 61 61
Valuation, ×
Valuation, × P/E 22.04 19.34 12.68 17.92 20.73 26.11 23.37 29.18 26.03 26.75
P/S 1.35 1.32 1.09 1.59 1.77 2.17 1.96 2.65 3.02 3.03
P/B 2.43 2.60 2.25 3.03 2.85 3.36 3.27 4.56 4.74 4.78
EV/Sales 1.37 1.59 1.25 1.74 1.88 2.37 2.18 2.79 3.09 3.26
EV/FCF 52.25 22.06 17.34 31.47 19.99 44.68 166.42 29.30 30.20 31.28
Cash, $m
Cash, $m Operating cash flow 25 73 93 103 136 102 72 194 231 255
Capex (6) (8) (14) (35) (30) (37) (53) (30) (41) (28)
Free cash flow 19 65 79 68 107 64 19 164 191 227
Balance, $m
Balance, $m Working capital 175 187 170 201 257 261 351 374 401 571
Total debt 64 278 210 221 210 283 363 299 224 565
Net debt 13 240 173 189 128 242 316 238 133 501
Shareholders’ equity 394 457 530 642 702 784 861 1,002 1,186 1,382
Returns, %
Returns, % ROA 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
ROE 10.95 14.47 19.04 18.52 14.32 13.54 14.64 16.90 19.77 19.20
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Federal Signal Corporation vs peers in Farm & Heavy Construction Machinery (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CNH CNH Industrial N.V. $14.8B 46.6× 27.5× +1.95% (above 0%: growing) −35.29% (below 0%: shrinking) −124.62% (below 0%: shrinking) 29.29% 13.66% Compare
OSK Oshkosh Corporation $8.0B 14.5× 12.2× +6.70% (above 0%: growing) −7.57% (below 0%: shrinking) +814.92% (above 0%: growing) 16.48% 8.34% Compare
AGCO AGCO Corporation $7.4B 14.3× 20.4× −0.96% (below 0%: shrinking) −74.41% (below 0%: shrinking) −66.49% (below 0%: shrinking) 24.75% 5.39% Compare
FSS Federal Signal Corporation $6.9B 24.0× 21.5× +18.70% (above 0%: growing) +19.49% (above 0%: growing) +92.75% (above 0%: growing) 30.41% 17.64%
TEX Terex Corporation $6.0B 25.6× 17.6× +50.50% (above 0%: growing) −11.82% (below 0%: shrinking) +21.79% (above 0%: growing) 19.84% 8.36% Compare
ALG Alamo Group, Inc. $1.9B 18.0× 14.3× +7.55% (above 0%: growing) −0.77% (below 0%: shrinking) +147.74% (above 0%: growing) 24.59% 10.15% Compare
BLBD Blue Bird Corporation $1.8B 6.8× 14.9× +29.94% (above 0%: growing) +366.38% (above 0%: growing) −58.60% (below 0%: shrinking) 19.99% 12.12% Compare
LNN Lindsay Corporation $1.1B 20.5× 22.2× −5.13% (below 0%: shrinking) −14.44% (below 0%: shrinking) −105.43% (below 0%: shrinking) 29.75% 11.52% Compare
ASTE Astec Industries, Inc. $896.2M 44.4× 21.3× +23.55% (above 0%: growing) −36.99% (below 0%: shrinking) −44.57% (below 0%: shrinking) 26.17% 5.00% Compare
Median of peers $3.9B 19.2× 19.0× +7.13% −13.13% −51.58% 24.67% 9.26%

All 27 Farm & Heavy Construction Machinery stocks →

Federal Signal Corporation (FSS) key facts

  • Strength: Federal Signal Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 17.1% from fiscal 2024.
  • Strength: Net income was $246.6 million, or $4.06 per share (basic), a net margin of 11.3%.
  • Federal Signal Corporation (FSS) is a Farm & Heavy Construction Machinery company in the Industrials sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, FSS traded at $112.39, a market capitalization of $6.9 billion.
  • At that price the stock trades at 24.0× trailing-twelve-month earnings and 2.8× sales; its P/E is higher than 53% of its own readings over the past ten years.
  • Federal Signal Corporation pays an annual dividend of $0.59 per share, a yield of 0.52%, with a payout ratio of 12.7%.
  • Return on equity was 19.2% and debt-to-equity 0.30.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 6.36 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Federal Signal Corporation (FSS) Latest News

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stockrow.com/FSS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com