Federal Signal (FSS) Financials

$76.42 +0.26 (+0.33%)

As of 10:23 AM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	64	44	62	94	109	96	101	120	157	216
Consolidated Net Income / (Loss)	64	44	62	94	109	96	101	120	157	216
Net Income / (Loss) Continuing Operations	66	39	61	94	108	96	0.00	0.00	0.00	0.00
Total Pre-Tax Income	100	57	61	112	139	125	118	151	203	264
Total Operating Income	103	61	74	122	147	131	131	161	225	281
Total Gross Profit	226	183	221	282	323	294	289	345	450	533
Total Revenue	768	708	899	1,090	1,221	1,131	1,213	1,435	1,723	1,862
Operating Revenue	768	708	899	1,090	1,221	1,131	1,213	1,435	1,723	1,862
Total Cost of Revenue	542	525	677	807	899	837	925	1,090	1,273	1,329
Operating Cost of Revenue	542	525	677	807	899	837	925	1,090	1,273	1,329
Total Operating Expenses	122	123	148	161	176	162	158	184	226	252
Selling, General & Admin Expense	122	120	144	159	164	149	149	172	210	234
Amortization Expense	-	-	-	-	8.80	9.60	11	13	15	15
Other Operating Expenses / (Income)	-	-	2.70	1.50	-	2.10	-2.10	-0.50	0.40	2.60
Restructuring Charge	0.40	3.10	0.60	0.00	2.50	1.30	0.00	0.00	0.00	0.00
Total Other Income / (Expense), net	-3.30	-4.00	-13	-9.90	-8.50	-6.80	-13	-9.90	-22	-18
Interest Expense	2.30	2.20	7.30	9.30	7.90	5.70	4.50	10	20	16
Other Income / (Expense), net	-1.00	-1.80	-5.30	-0.60	-0.60	-1.10	-8.60	0.40	-1.80	-1.20
Income Tax Expense	34	17	0.50	18	30	29	17	31	46	48
Net Income / (Loss) Discontinued Operations	-2.30	4.40	1.10	0.30	0.10	0.10	0.00	0.00	0.00	0.00
Basic Earnings per Share	$1.02	$0.72	$1.03	$1.57	$1.80	$1.59	$1.65	$1.99	$2.59	$3.55
Weighted Average Basic Shares Outstanding	62.20M	60.40M	59.70M	59.90M	60.20M	60.30M	60.80M	60.50M	60.70M	60.90M
Diluted Earnings per Share	$1.00	$0.71	$1.02	$1.54	$1.76	$1.56	$1.63	$1.97	$2.56	$3.50
Weighted Average Diluted Shares Outstanding	63.40M	61.20M	60.40M	61.20M	61.60M	61.70M	61.90M	61.20M	61.50M	61.70M
Weighted Average Basic & Diluted Shares Outstanding	62.30M	60.80M	59.80M	59.90M	60.58M	60.54M	60.93M	60.75M	61.00M	61.10M
Cash Dividends to Common per Share	$0.25	$0.28	$0.28	$0.31	$0.32	$0.32	$0.36	$0.36	$0.39	$0.48

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

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

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

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	667	643	992	1,024	1,166	1,209	1,366	1,524	1,621	1,765
Total Current Assets	315	260	304	329	361	406	431	531	570	643
Cash & Equivalents	76	51	38	37	32	82	41	48	61	91
Accounts Receivable	73	81	118	124	134	127	136	174	186	196
Inventories, net	87	120	137	157	183	185	229	293	303	331
Prepaid Expenses	15	7.50	11	9.40	12	12	25	17	20	24
Plant, Property, & Equipment, net	53	124	147	159	207	107	142	179	191	219
Total Noncurrent Assets	299	260	541	537	598	696	793	814	860	904
Goodwill	232	237	377	375	389	394	432	453	473	478
Intangible Assets	0.20	10	152	143	163	154	206	208	208	200
Noncurrent Deferred & Refundable Income Taxes	20	8.20	6.20	13	10	9.50	8.40	8.80	12	9.40
Other Noncurrent Operating Assets	3.30	3.90	5.40	5.60	36	139	147	143	167	217
Other Noncurrent Nonoperating Assets	43	1.10	0.50	0.40	0.30	0.20	0.00	0.00	0.00	0.00
Total Liabilities & Shareholders' Equity	667	643	992	1,024	1,166	1,209	1,366	1,524	1,621	1,765
Total Liabilities	261	249	535	494	524	507	582	663	619	579
Total Current Liabilities	117	85	117	159	160	148	170	181	196	242
Short-Term Debt	0.40	0.50	0.30	0.20	0.20	0.20	0.60	1.50	4.70	19
Accounts Payable	38	35	52	66	65	52	65	72	67	79
Accrued Expenses	28	29	36	53	44	45	44	43	48	56
Customer Deposits	3.70	4.50	6.50	10	12	13	22	25	27	35
Current Employee Benefit Liabilities	19	14	22	30	31	30	30	31	42	46
Other Current Liabilities	-	-	-	-	8.20	8.20	8.80	6.90	6.80	6.80
Other Current Nonoperating Liabilities	29	2.10	0.50	0.20	0.20	0.10	0.00	0.00	0.00	0.00
Total Noncurrent Liabilities	144	164	418	335	364	358	412	483	423	337
Long-Term Debt	44	64	277	210	220	210	282	362	294	204
Noncurrent Deferred & Payable Income Tax Liabilities	-	0.00	45	46	53	54	53	51	53	58
Noncurrent Employee Benefit Liabilities	55	61	57	55	51	54	40	39	44	42
Other Noncurrent Operating Liabilities	17	27	28	16	39	40	36	32	31	33
Other Noncurrent Nonoperating Liabilities	15	2.00	1.50	1.40	0.90	0.80	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	406	394	457	530	642	702	784	861	1,002	1,186
Total Preferred & Common Equity	406	394	457	530	642	702	784	861	1,002	1,186
Total Common Equity	406	394	457	530	642	702	784	861	1,002	1,186
Common Stock	260	266	274	283	296	309	326	341	361	380
Retained Earnings	275	302	347	433	528	605	684	782	916	1,103
Treasury Stock	-41	-81	-86	-89	-93	-120	-151	-179	-194	-208
Accumulated Other Comprehensive Income / (Loss)	-89	-92	-77	-97	-89	-92	-74	-84	-81	-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	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	1,465	1,584	1,661	1,655	1,651	1,692	1,734
Total Current Assets	511	566	606	604	595	612	649
Cash & Equivalents	36	38	49	41	49	49	74
Accounts Receivable	170	192	193	213	191	214	220
Inventories, net	288	318	339	330	323	327	337
Prepaid Expenses	18	19	24	19	32	23	18
Plant, Property, & Equipment, net	171	181	189	188	193	203	206
Total Noncurrent Assets	784	837	866	863	863	876	879
Goodwill	431	458	475	474	470	470	472
Intangible Assets	198	213	217	212	205	201	197
Noncurrent Deferred & Refundable Income Taxes	8.00	8.60	8.40	12	12	12	12
Other Noncurrent Operating Assets	147	157	165	165	177	194	198
Total Liabilities & Shareholders' Equity	1,465	1,584	1,661	1,655	1,651	1,692	1,734
Total Liabilities	637	702	737	699	607	592	584
Total Current Liabilities	181	203	198	203	211	212	229
Short-Term Debt	0.70	2.30	3.10	3.90	5.50	6.50	8.10
Accounts Payable	81	96	87	82	89	87	89
Accrued Expenses	41	50	44	47	45	53	62
Customer Deposits	23	26	27	28	29	25	22
Current Deferred & Payable Income Tax Liabilities	-	-	-	-	13	0.00	0.00
Current Employee Benefit Liabilities	29	22	30	35	23	33	41
Other Current Liabilities	6.80	7.50	7.80	7.40	6.60	7.30	7.10
Total Noncurrent Liabilities	456	499	538	496	396	380	355
Long-Term Debt	331	373	406	362	267	249	223
Noncurrent Deferred & Payable Income Tax Liabilities	57	50	53	57	54	56	57
Noncurrent Employee Benefit Liabilities	36	40	40	39	45	43	41
Other Noncurrent Operating Liabilities	33	36	39	39	30	33	34
Total Equity & Noncontrolling Interests	828	882	924	956	1,044	1,100	1,149
Total Preferred & Common Equity	828	882	924	956	1,044	1,100	1,149
Total Common Equity	828	882	924	956	1,044	1,100	1,149
Common Stock	334	344	351	355	367	372	376
Retained Earnings	753	804	838	876	960	1,014	1,060
Treasury Stock	-171	-183	-186	-190	-199	-201	-206
Accumulated Other Comprehensive Income / (Loss)	-88	-83	-80	-84	-84	-85	-82

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

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

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

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

Frequently Asked Questions About Federal Signal's Financials

When does Federal Signal's fiscal year end?

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

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 4/15/2025 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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