Federal Signal CorpFederal Signal Corp
Federal Signal Corp

Federal Signal Corp

FSS
Industrials·Machinery

Federal Signal Corp. engages in the design and manufacture of products and integrated solutions for municipal, governmental, industrial, and commercial customers. It operates through the Environmental Solutions Group and Safety and Security Systems Group segments. The Environment Solutions Group segment is involved in the manufacture and supply of street sweeper vehicles, sewer cleaners, vacuum loader trucks, hydro-excavation trucks, and water blasting equipment. The Safety and Security Systems Group segment offers comprehensive systems and products that law enforcement, fire rescue, emergency medical services, campuses, military facilities, and industrial sites use to protect people and property. The company was founded in 1901 and is headquartered in Downers Grove, IL.

Illinois; U.S.A
Market cap
No dataNo data
Revenue
$2.2B+17.1% YoY
Net income
$246.6M+14.0% YoY
Free cash flow
$227.1M+19.1% YoY

Market

Listed stock
FSSPriceNYSE
Loading…Loading…1Y

Financial performance

Revenue
$2.2B+17.1% YoY
Operating income
$340.9M+21.1% YoY
Net income
$246.6M+14.0% YoY
Free cash flow
$227.1M+19.1% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $1.2B, 2022 $1.4B, 2023 $1.7B, 2024 $1.9B, 2025 $2.2B. Operating income: 2021 $130.7M, 2022 $160.8M, 2023 $224.5M, 2024 $281.4M, 2025 $340.9M. Net income: 2021 $100.6M, 2022 $120.4M, 2023 $157.4M, 2024 $216.3M, 2025 $246.6M. Free cash flow: 2021 $64.4M, 2022 $18.8M, 2023 $164.1M, 2024 $190.7M, 2025 $227.1M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
17.1%+908 bps YoY
Gross margin
No dataNo data
Operating margin
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FCF margin
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Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $130.7M, 2022-12-31 $160.8M, 2023-12-31 $224.5M, 2024-12-31 $281.4M, 2025-12-31 $340.9M. Net income: 2021-12-31 $100.6M, 2022-12-31 $120.4M, 2023-12-31 $157.4M, 2024-12-31 $216.3M, 2025-12-31 $246.6M. Free cash flow: 2021-12-31 $64.4M, 2022-12-31 $18.8M, 2023-12-31 $164.1M, 2024-12-31 $190.7M, 2025-12-31 $227.1M

Growth heatmap

2022202320242025CAGR
Revenue
+18.3%
+20.1%
+8.1%
+17.1%
+15.8%
Gross profit
+19.5%
+30.5%
+18.4%
+18.4%
+21.6%
Operating income
+23.0%
+39.6%
+25.3%
+21.1%
+27.1%
Free cash flow
-70.8%
+772.9%
+16.2%
+19.1%
+37.0%

Earnings quality

Operating cash flow
$254.7M+10.1% YoY
Net income
$246.6M+14.0% YoY
Free cash flow
$227.1M+19.1% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 103%, 2024-12-31 107%, 2023-12-31 124%, 2022-12-31 60%, 2021-12-31 101%. Free cash flow: 2025-12-31 92%, 2024-12-31 88%, 2023-12-31 104%, 2022-12-31 16%, 2021-12-31 64%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
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FCF / share
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Diluted shares
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Financial flexibility

Cash & equivalents
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Total debt
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Net debt
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Current ratio
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Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
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Return on assets
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Return on invested capital
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Asset turnover
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Return on capital

No data

Valuation

Price to earnings
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Price to sales
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EV / EBITDA
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Free cash flow yield
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Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
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Price to sales
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EV / EBITDA
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Free cash flow yield
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