Federal Signal Corporation (FSS) Income Statement
FSS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFSS revenue and net income
Where FSS's revenue goes
2025Each bar shows an amount and its share of revenue. FSS kept 11.3% of revenue as net income.
FSS profit margins
FSS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +17.1% | +15.0% | +14.0% | +11.0% |
| Gross profit | +18.4% | +22.3% | +16.5% | +10.8% |
| Operating income | +21.1% | +28.5% | +21.0% | +12.7% |
| Net income | +14.0% | +27.0% | +20.7% | +14.5% |
| EPS (diluted) | +26.6% | +29.0% | +20.4% | +15.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FSS quarterly EPS vs estimates
Federal Signal beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 29, 2026 (estimate $1.32).
FSS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.18B | $1.86B | $1.72B | $1.43B | $1.21B | $1.13B | $1.22B | $1.09B | $898.5M | $707.9M |
| Cost of revenue | $1.55B | $1.33B | $1.27B | $1.09B | $924.5M | $837.2M | $898.5M | $807.4M | $677.3M | $524.5M |
| Gross profit | $631.2M | $533.0M | $450.2M | $344.9M | $288.7M | $293.6M | $322.8M | $282.1M | $221.2M | $183.4M |
| Research & development | $13.4M | $12.4M | $12.4M | $11.5M | $11.4M | $12.2M | $13.6M | $13.0M | $13.0M | $13.4M |
| Sales, general & admin | $255.9M | $237.8M | $210.1M | $171.7M | $159.5M | $149.2M | $173.2M | $159.1M | $150.8M | $122.3M |
| Total operating expenses | $290.3M | $251.6M | $225.7M | $184.1M | $158.0M | $162.2M | $175.7M | $160.6M | $147.6M | $122.6M |
| Operating income | $340.9M | $281.4M | $224.5M | $160.8M | $130.7M | $131.4M | $147.1M | $121.5M | $73.6M | $60.8M |
| Interest income | $14.1M | $12.5M | $19.7M | $10.3M | $4.5M | $5.7M | $7.9M | $9.3M | $7.3M | $1.9M |
| Interest expense | $14.1M | $12.5M | $19.7M | $10.3M | $4.5M | $5.7M | $7.9M | $9.3M | $7.3M | $1.9M |
| Income before taxes | $324.5M | $263.9M | $203.0M | $150.9M | $117.6M | $124.6M | $138.6M | $111.6M | $61.0M | $56.8M |
| Income taxes | $77.9M | $47.6M | $45.6M | $30.5M | $17.0M | $28.5M | $30.2M | $17.9M | $500,000 | $17.4M |
| Net income | $246.6M | $216.3M | $157.4M | $120.4M | $100.6M | $96.2M | $108.5M | $94.0M | $61.6M | $43.8M |
| EBITDA | $434.7M | $341.7M | $283.1M | $215.9M | $172.5M | $175.1M | $188.0M | $157.3M | $98.3M | $77.8M |
| EPS (diluted) | $4.23 | $3.34 | $2.58 | $1.97 | $1.76 | $1.67 | $1.80 | $1.43 | $0.85 | $0.69 |
| Gross margin | 28.9% | 28.6% | 26.1% | 24.0% | 23.8% | 26.0% | 26.4% | 25.9% | 24.6% | 25.9% |
| Operating margin | 15.6% | 15.1% | 13.0% | 11.2% | 10.8% | 11.6% | 12.0% | 11.2% | 8.2% | 8.6% |
| Net margin | 11.3% | 11.6% | 9.1% | 8.4% | 8.3% | 8.5% | 8.9% | 8.6% | 6.9% | 6.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $670.2M | $625.6M | $597.1M | $555.0M | $564.6M | $463.8M | $472.0M | $474.2M | $490.4M | $424.9M | $448.4M | $446.4M |
| Cost of revenue | $466.4M | $446.2M | $427.8M | $393.5M | $395.0M | $333.0M | $339.4M | $333.8M | $346.4M | $308.9M | $329.0M | $328.7M |
| Gross profit | $203.8M | $179.4M | $169.3M | $161.5M | $169.6M | $130.8M | $132.6M | $140.4M | $144.0M | $116.0M | $119.4M | $117.7M |
| Research & development | — | — | — | — | — | — | — | — | — | — | $12.4M | — |
| Sales, general & admin | $78.3M | $72.0M | $67.4M | $61.4M | $66.9M | $60.2M | $62.2M | $60.1M | $58.3M | $57.2M | $54.1M | $50.6M |
| Total operating expenses | $84.9M | $78.5M | $72.5M | $65.9M | $71.4M | $64.5M | $62.5M | $64.5M | $62.9M | $61.7M | $56.3M | $55.2M |
| Operating income | $118.9M | $100.9M | $96.8M | $95.6M | $98.2M | $66.3M | $70.1M | $75.9M | $81.1M | $54.3M | $63.1M | $62.5M |
| Interest income | — | — | $4.8M | $2.8M | $3.5M | $3.0M | $3.1M | $3.0M | — | — | — | $5.1M |
| Interest expense | $6.0M | $6.9M | $4.8M | $2.8M | $3.5M | $3.0M | $3.1M | $3.0M | $3.2M | $3.2M | $4.3M | $5.1M |
| Income before taxes | $111.4M | $92.2M | $78.6M | $90.5M | $93.4M | $62.0M | $62.9M | $72.6M | $77.5M | $50.9M | $58.5M | $57.1M |
| Income taxes | $25.3M | $21.8M | $17.8M | $22.4M | $22.0M | $15.7M | $12.9M | $18.7M | $16.7M | −$700,000 | $12.1M | $13.8M |
| Net income | $86.1M | $70.4M | $60.8M | $68.1M | $71.4M | $46.3M | $50.0M | $53.9M | $60.8M | $51.6M | $46.4M | $43.3M |
| EBITDA | $142.0M | $122.9M | $105.0M | $113.6M | $116.8M | $83.7M | $83.6M | $92.1M | $96.5M | $69.5M | $78.1M | $77.5M |
| EPS (diluted) | $1.42 | $1.18 | $1.16 | $1.14 | $1.17 | $0.76 | $0.87 | $0.88 | $0.95 | $0.64 | $0.74 | $0.71 |
| Gross margin | 30.4% | 28.7% | 28.4% | 29.1% | 30.0% | 28.2% | 28.1% | 29.6% | 29.4% | 27.3% | 26.6% | 26.4% |
| Operating margin | 17.7% | 16.1% | 16.2% | 17.2% | 17.4% | 14.3% | 14.9% | 16.0% | 16.5% | 12.8% | 14.1% | 14.0% |
| Net margin | 12.8% | 11.3% | 10.2% | 12.3% | 12.6% | 10.0% | 10.6% | 11.4% | 12.4% | 12.1% | 10.3% | 9.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FSS's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FSS financial results
In fiscal year 2025 (ended December 31, 2025), Federal Signal reported revenue of $2.2 billion, up 17.1% from the year before. It had net income of $246.6 million (up 14.0%), a net profit margin of 11.3%. Diluted earnings per share came to $4.23. Over five years revenue grew at an average rate of 14.0% a year.
See the FSS stock overview for the latest quote and news, or the FSS chart for price history and technical indicators.
FSS income statement FAQ
What is Federal Signal's annual revenue?
Federal Signal reported total revenue of $2.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 17.1% from $1.9 billion the previous year.
Is Federal Signal profitable?
Yes. Federal Signal reported net income of $246.6 million in fiscal 2025, a net profit margin of 11.3%; its operating margin was 15.6%.
What is Federal Signal's gross margin?
Federal Signal's gross margin was 28.9% in fiscal 2025: for every $100 of revenue, Federal Signal kept $29 after the direct cost of its products and services.
How much does Federal Signal spend on research and development?
Federal Signal spent $13.4 million on research and development in fiscal 2025, 0.6% of revenue.
How fast is Federal Signal growing?
Revenue grew 14.0% a year on average over the last five fiscal years, from $1.1 billion to $2.2 billion.
What are Federal Signal's earnings per share?
Federal Signal earned $4.23 per diluted share in fiscal 2025, compared with $3.34 a year earlier.
When will Federal Signal report its next earnings?
Federal Signal is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Federal Signal's fiscal year end?
Federal Signal's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.