FSS · NYSE · Industrials
Federal Signal Corporation (FSS) — Rank #262 by gross profitability (GP/assets 0.26) · ROE 16.4% · Piotroski F-Score N/A.
As-of 2026-10-30 · CIK 0000277509 · all metrics point-in-time as of the filing date.
About
Federal Signal Corporation designs, manufactures, and supplies a suite of products and integrated solutions for municipal, governmental, industrial, and commercial customers in the United States, Canada, Europe, and internationally.
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It operates through two segments, Environmental Solutions Group, and Safety and Security Systems Group. The company offers street sweepers, sewer cleaners, industrial vacuum loaders, safe-digging trucks, dump truck bodies, and trailers, as well as waterblasting, road-marking, line-removal, metal extraction support equipment, and multi-purpose maintenance vehicles under the ELGIN, VACTOR, GUZZLER, TRUVAC, WESTECH, JETSTREAM, BLASTERS, MARK RITE LINES, HOG, NEW WAY, TRACKLESS, OX BODIES, CRYSTEEL, J-CRAFT, DURACLASS, RUGBY, TRAVIS, OSW, NTE, WTB, GROUND FORCE, TOWHAUL, BUCKS, AND SWITCH-N-GO brands; and provides refuse and recycling collection vehicles through a dealer network or direct sales to service customers. It is also involved in sale of parts, service and repair, equipment rentals, and training. The company also provides systems for community alerting, emergency vehicles, first responder interoperable communications, and industrial communications; public safety equipment, such as vehicle lightbars and sirens, industrial signaling equipment, public warning systems, and general alarm/public address systems under the Federal Signal, Federal Signal VAMA, and Victor brand names through wholesalers, distributors, independent manufacturer representatives, original equipment manufacturers, and direct sales force, as well as independent foreign distributors.
Federal Signal Corporation was founded in 1901 and is based in Downers Grove, Illinois.
- Industry
- Farm & Heavy Construction Machinery
- Sector
- Industrials
- State
- DE
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- federalsignal.com
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
5,800
Industry
Farm & Heavy Construction Machinery
Exchange
NYSE
12/12
Flags passed
FSS passes 12/12 quality flags
- PASSGross margin holding
- PASSDilution within 2%
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSRevenue not declining
- PASSOperating margin holding
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSBalance sheet stable
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Revenue growth accelerating · Operating leverage expanding · Deferred revenue growing · Sequential beat (rev + EPS)
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
2/3 passGrowth
2/2 passFCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Does it make money well?
No warning flags · GP/assets 75th percentile of 21 SIC 37 peers
Gross profitability (GP / assets)
0.26
Primary signal (Novy-Marx).
75th pctl of 21 SIC 37 peers
Return on equity
16.4%
Gross margin
28.9%
65th pctl of 21 SIC 37 peers
Revenue growth (YoY)
17.1%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
15.0%
Revenue CAGR (5Y)
14.0%
Earnings CAGR (3Y)
27.0%
FCF CAGR (3Y)
—
Cash Flow Health
Is the cash real?
No warning flags · FCF 8% below net income
Free cash flow
$227.10M
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
-7.9%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.7%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
No warning flags · net debt $148.80M
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.62
79th pctl of 20 SIC 37 peers (best = lowest)
Current ratio
2.74×
80th pctl of 21 SIC 37 peers
Quick ratio
1.12×
Net cash
-$148.80M
Cash & equivalents minus total debt.
Piotroski F-Score
N/A
Only 8/9 components determinable.
Valuation
Is the price reasonable?
No warning flags
Dividend safety
Composite score
4.0 / 5
Capital allocation quality
Composite score
2.7 / 5
Lifecycle Phase History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports