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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. 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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.2B | $419M | $247M | $227M | 17.8% | 17.1% | 14.0% |
| 2024 | $1.9B | $342M | $216M | $191M | 18.2% | 8.1% | 37.4% |
| 2023 | $1.7B | $283M | $157M | $164M | 15.7% | 20.1% | 30.7% |
| 2022 | $1.4B | $216M | $120M | $19M | 14.0% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,434.80 | 1,722.70 | 1,861.50 | 2,180.50 |
| Operating Revenue | - | 1,434.80 | 1,722.70 | 1,861.50 | 2,180.50 |
| Cost Of Revenue | - | 1,089.90 | 1,272.50 | 1,328.50 | 1,549.30 |
| Gross Profit | - | 344.90 | 450.20 | 533 | 631.20 |
| Operating Expense | - | 184.60 | 225.30 | 252.80 | 274.30 |
| Selling General And Administration | - | 171.70 | 210.10 | 237.80 | 255.90 |
| Total Expenses | - | 1,274.50 | 1,497.80 | 1,581.30 | 1,823.60 |
| Operating Income | - | 160.30 | 224.90 | 280.20 | 356.90 |
| Total Operating Income As Reported | - | 160.80 | 224.50 | 281.40 | 340.90 |
| EBITDA | - | 215.90 | 283.10 | 341.70 | 419.10 |
| Normalized EBITDA | - | 215.40 | 283.50 | 344.30 | 435.10 |
| EBIT | - | 161.20 | 222.70 | 276.40 | 338.60 |
| Interest Expense | - | 10.30 | 19.70 | 12.50 | 14.10 |
| Net Interest Income | - | -10.30 | -19.70 | -12.50 | -14.10 |
| Other Non Operating Income Expenses | - | 0.40 | -1.80 | -1.20 | -2.30 |
| Other Income Expense | - | 0.90 | -2.20 | -3.80 | -18.30 |
| Interest Expense Non Operating | - | 10.30 | 19.70 | 12.50 | 14.10 |
| Net Non Operating Interest Income Expense | - | -10.30 | -19.70 | -12.50 | -14.10 |
| Pretax Income | - | 150.90 | 203 | 263.90 | 324.50 |
| Tax Provision | - | 30.50 | 45.60 | 47.60 | 77.90 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.10 | -0.09 | -0.47 | -3.84 |
| Net Income Continuous Operations | - | 120.40 | 157.40 | 216.30 | 246.60 |
| Net Income From Continuing And Discontinued Operation | - | 120.40 | 157.40 | 216.30 | 246.60 |
| Net Income From Continuing Operation Net Minority Interest | - | 120.40 | 157.40 | 216.30 | 246.60 |
| Net Income | - | 120.40 | 157.40 | 216.30 | 246.60 |
| Net Income Common Stockholders | - | 120.40 | 157.40 | 216.30 | 246.60 |
| Net Income Including Noncontrolling Interests | - | 120.40 | 157.40 | 216.30 | 246.60 |
| Normalized Income | - | 120 | 157.71 | 218.43 | 258.76 |
| Diluted NI Availto Com Stockholders | - | 120.40 | 157.40 | 216.30 | 246.60 |
| Basic Average Shares | - | 60.50 | 60.70 | 60.90 | 60.80 |
| Diluted Average Shares | - | 61.20 | 61.50 | 61.70 | 61.50 |
| Reconciled Depreciation | - | 54.70 | 60.40 | 65.30 | 80.50 |
| Reconciled Cost Of Revenue | - | 1,048.10 | 1,227.30 | 1,278.20 | 1,487.20 |
| Total Unusual Items | - | 0.50 | -0.40 | -2.60 | -16 |
| Total Unusual Items Excluding Goodwill | - | 0.50 | -0.40 | -2.60 | -16 |
| Net Income Discontinuous Operations | 0 | 0 | - | - | - |
| Special Income Charges | - | 0.50 | -0.40 | -2.60 | -16 |
| Restructuring And Mergern Acquisition | - | -0.50 | 0.40 | 2.60 | 16 |
| Depreciation Amortization Depletion Income Statement | - | 12.90 | 15.20 | 15 | 18.40 |
| Depreciation And Amortization In Income Statement | - | 12.90 | 15.20 | 15 | 18.40 |
| General And Administrative Expense | - | 171.70 | 210.10 | 237.80 | 255.90 |
| Other Gand A | - | 171.70 | 210.10 | 234 | 255.90 |
| Salaries And Wages | - | 0 | 0 | 3.80 | 0 |
| Total Other Finance Cost | - | 0.10 | - | - | - |
| Amortization | - | 12.90 | 15.20 | 15 | 18.40 |
| Amortization Of Intangibles Income Statement | - | 12.90 | 15.20 | 15 | 18.40 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Federal Signal Corporationthis co. | FSS | $6.6B | 26.69 | 4.76 | 17.8% | 16.97 |
| Primoris Services Corporation | PRIM | $6.9B | 25.19 | 4.12 | 16.4% | 14.55 |
| Enpro Inc. | NPO | $6.7B | 165.58 | 4.34 | 2.6% | 37.34 |
| Pool Corporation | POOL | $6.7B | 16.43 | 5.63 | 34.3% | 12.83 |
| Gates Industrial Corporation plc | GTES | $6.6B |
| - |
| - |
| - |
| - |
| - |
| - |
| 26.38 |
| 1.99 |
| 7.5% |
| 12.16 |
| JBT Marel Corporation | JBTM | $6.5B | -129.10 | 1.46 | -1.1% | 25.87 |
| Armstrong World Industries, Inc. | AWI | $6.5B | 21.12 | 7.24 | 34.3% | 12.46 |
| Schneider National, Inc. | SNDR | $6.5B | 62.71 | 2.15 | 3.4% | 10.77 |
| Granite Construction Incorporated | GVA | $6.2B | 32.09 | 5.25 | 16.4% | 14.37 |
| Peer Median | - | 25.78 | 4.23 | 11.9% | 13.60 | |