Caterpillar Inc. (CAT) vs Federal Signal Corporation (FSS)

Caterpillar Inc. and Federal Signal Corporation are both Farm & Heavy Construction Machinery companies. Caterpillar Inc. is the larger, with a market value of $373.2B against $6.9B — 54.2× the size. Federal Signal Corporation trades at the lower P/E: 24.5× against 35.2×. Federal Signal Corporation grew revenue faster over the last twelve months: 24.0% against 18.4%. Caterpillar Inc. has the higher net margin (14.5% vs 11.7%) and the higher return on invested capital (14.2% vs 13.0%). Both pay a dividend; Caterpillar Inc. yields more (1.69% vs 0.50%). Across the 23 metrics below, Federal Signal Corporation leads on 16 and Caterpillar Inc. on 7.

Valuation

Metric CAT FSS Farm & Heavy Construction Machinery median
P/E 35.17 24.47 23.38
P/S 5.06 2.85 0.81
P/B 19.50 4.64 1.43
Price to free cash flow 38.70 20.60 25.31
EV/EBITDA 24.69 15.19 12.13
EV/Sales 5.58 3.01 1.20
Earnings yield 2.84% 4.09% 2.73%
Free cash flow yield 2.58% 4.85% 3.02%

Profitability

Metric CAT FSS Farm & Heavy Construction Machinery median
Gross margin 34.34% 29.17% 24.21%
Operating margin 19.40% 16.15% 4.47%
Net margin 14.51% 11.66% 1.49%
Free cash flow margin 13.08% 13.86% 2.15%
Return on equity 56.99% 20.61% 4.16%
Return on assets 11.24% 13.10% 1.45%
Return on invested capital 14.15% 13.02% 3.36%

Growth

Metric CAT FSS Farm & Heavy Construction Machinery median
Revenue growth (TTM) 18.36% 23.97% 2.18%
EPS growth (last fiscal year) (14.69%) 14.57% —
Revenue growth, 5-year CAGR 10.12% 14.03% 7.34%
Net income growth, 5-year CAGR 24.27% 20.72% 0.00%

Health

Metric CAT FSS Farm & Heavy Construction Machinery median
Debt to equity 2.33 0.30 0.67
Current ratio 1.37 2.74 1.98
Net debt to EBITDA 2.26 1.19 1.12

Dividend

Metric CAT FSS Farm & Heavy Construction Machinery median
Dividend yield 1.69% 0.50% 1.45%
Payout ratio 0.33 0.17 0.08

Size

Metric CAT FSS Farm & Heavy Construction Machinery median
Market cap 373.15b 6.88b 772.81m

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