Federal Signal Corporation (FSS) Key Metrics
FSS valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $6.86B
- Enterprise value
- $7.34B
- P/E (TTM)
- 24.2 10-yr median 22.7
- Forward P/E
- 19.8
- PEG ratio
- 1.41
- Price / sales
- 2.8 10-yr median 1.9
- Price / book
- 4.6 10-yr median 3.2
- EV / EBITDA
- 15.2 10-yr median 14.8
- Dividend yield
- 0.53% $0.60 a year
- Beta
- 1.23
FSS key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFSS valuation Price multiples at each fiscal year-end price.
FSS returns How much profit the business earns on the capital it uses.
FSS per-share figures Results divided by the shares outstanding at year-end.
FSS financial health Debt, liquidity and how easily interest is covered.
FSS efficiency & capital use Working capital cycle and where the cash goes.
FSS valuation history
FSS returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FSS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FSS cash returned to shareholders
FSS price vs earnings per share
FSS key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $6.68B | $5.70B | $4.72B | $2.84B | $2.68B | $2.05B | $1.99B | $1.22B | $1.21B | $955.3M |
| Enterprise value | $7.21B | $5.86B | $4.98B | $3.18B | $2.96B | $2.20B | $2.21B | $1.39B | $1.45B | $968.6M |
| P/E ratio | 27.1 | 26.4 | 30.0 | 23.6 | 26.7 | 21.3 | 18.3 | 13.0 | 19.7 | 21.8 |
| Price / sales | 3.1 | 3.1 | 2.7 | 2.0 | 2.2 | 1.8 | 1.6 | 1.1 | 1.4 | 1.3 |
| Price / book | 4.8 | 4.8 | 4.7 | 3.3 | 3.4 | 2.9 | 3.1 | 2.3 | 2.7 | 2.4 |
| Price / free cash flow | 29.4 | 29.9 | 28.8 | 151.3 | 41.7 | 19.2 | 29.3 | 15.5 | 18.7 | 51.4 |
| Price / operating cash flow | 26.2 | 24.6 | 24.3 | 39.6 | 26.4 | 15.0 | 19.3 | 13.1 | 16.7 | 38.7 |
| EV / sales | 3.3 | 3.1 | 2.9 | 2.2 | 2.4 | 1.9 | 1.8 | 1.3 | 1.6 | 1.4 |
| EV / EBITDA | 16.6 | 17.2 | 17.6 | 14.8 | 17.1 | 12.6 | 11.7 | 8.8 | 14.8 | 12.5 |
| EV / free cash flow | 31.7 | 30.7 | 30.3 | 169.4 | 45.9 | 20.6 | 32.6 | 17.7 | 22.4 | 52.1 |
| Earnings yield | 3.7% | 3.8% | 3.3% | 4.2% | 3.7% | 4.7% | 5.5% | 7.7% | 5.1% | 4.6% |
| Free cash flow yield | 3.4% | 3.3% | 3.5% | 0.7% | 2.4% | 5.2% | 3.4% | 6.5% | 5.3% | 1.9% |
| Dividend yield | 0.5% | 0.5% | 0.5% | 0.8% | 0.8% | 0.9% | 1.0% | 1.5% | 1.4% | 1.8% |
| Shareholder yield (dividends + buybacks) | 1.1% | 0.7% | 0.8% | 1.6% | 1.8% | 2.1% | 1.1% | 1.7% | 1.6% | 6.0% |
| Share price at fiscal year-end | $108.59 | $92.39 | $76.74 | $46.47 | $43.34 | $33.17 | $32.25 | $19.90 | $20.09 | $15.61 |
| Per share | ||||||||||
| Revenue per share | $35.46 | $30.17 | $28.01 | $23.44 | $19.60 | $18.33 | $19.83 | $17.80 | $14.88 | $11.57 |
| Earnings per share | $4.01 | $3.51 | $2.56 | $1.97 | $1.63 | $1.56 | $1.76 | $1.54 | $1.02 | $0.72 |
| Operating cash flow per share | $4.14 | $3.75 | $3.16 | $1.17 | $1.64 | $2.21 | $1.67 | $1.52 | $1.21 | $0.40 |
| Free cash flow per share | $3.69 | $3.09 | $2.67 | $0.31 | $1.04 | $1.73 | $1.10 | $1.29 | $1.07 | $0.30 |
| Cash per share | $1.04 | $1.48 | $0.99 | $0.78 | $0.65 | $1.32 | $0.51 | $0.61 | $0.62 | $0.83 |
| Book value per share | $22.47 | $19.22 | $16.29 | $14.07 | $12.67 | $11.38 | $10.42 | $8.66 | $7.57 | $6.44 |
| Tangible book value per share | $6.17 | $8.24 | $5.23 | $3.26 | $2.36 | $2.50 | $1.46 | $0.19 | −$1.19 | $2.41 |
| Dividends per share | $0.55 | $0.47 | $0.39 | $0.36 | $0.36 | $0.31 | $0.31 | $0.31 | $0.28 | $0.28 |
| Capex per share | $0.45 | $0.66 | $0.49 | $0.87 | $0.60 | $0.48 | $0.57 | $0.23 | $0.13 | $0.10 |
| Debt per share | $9.67 | $4.09 | $5.21 | $6.35 | $5.07 | $3.79 | $4.06 | $3.43 | $4.60 | $1.05 |
| Shares outstanding | 61.5M | 61.7M | 61.5M | 61.2M | 61.9M | 61.7M | 61.6M | 61.2M | 60.4M | 61.2M |
| Change in shares outstanding | −0.3% | +0.3% | +0.5% | −1.1% | +0.3% | +0.2% | +0.7% | +1.3% | −1.3% | −3.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 19.2% | 19.8% | 16.9% | 14.6% | 13.5% | 14.3% | 18.5% | 19.0% | 14.5% | 11.0% |
| Return on invested capital (ROIC) | 15.9% | 17.7% | 14.1% | 11.4% | 11.7% | 11.8% | 14.7% | 14.6% | 13.2% | 10.8% |
| Return on assets (ROA) | 11.9% | 12.8% | 10.0% | 8.3% | 7.8% | 8.1% | 9.9% | 9.3% | 7.5% | 6.7% |
| Return on tangible assets | 17.7% | 19.9% | 16.7% | 14.0% | 13.8% | 14.6% | 17.7% | 18.6% | 13.3% | 11.0% |
| Free cash flow margin | 10.4% | 10.2% | 9.5% | 1.3% | 5.3% | 9.4% | 5.5% | 7.2% | 7.2% | 2.6% |
| Income quality (OCF / net income) | 1.03 | 1.07 | 1.24 | 0.60 | 1.01 | 1.42 | 0.95 | 0.99 | 1.18 | 0.56 |
| Financial health | ||||||||||
| Total debt | $594.6M | $252.4M | $320.7M | $388.4M | $313.7M | $233.7M | $250.3M | $210.1M | $277.7M | $64.0M |
| Cash & short-term investments | $63.7M | $91.1M | $61.0M | $47.5M | $40.5M | $81.7M | $31.6M | $37.4M | $37.5M | $50.7M |
| Net debt | $530.9M | $161.3M | $259.7M | $340.9M | $273.2M | $152.0M | $218.7M | $172.7M | $240.2M | $13.3M |
| Debt / equity | 0.43 | 0.21 | 0.32 | 0.45 | 0.40 | 0.33 | 0.39 | 0.40 | 0.61 | 0.16 |
| Debt / assets | 0.25 | 0.14 | 0.20 | 0.25 | 0.23 | 0.19 | 0.21 | 0.21 | 0.28 | 0.10 |
| Net debt / EBITDA | 1.22 | 0.47 | 0.92 | 1.58 | 1.58 | 0.87 | 1.16 | 1.10 | 2.44 | 0.17 |
| Current ratio | 3.02 | 2.66 | 2.91 | 2.94 | 2.53 | 2.73 | 2.25 | 2.07 | 2.59 | 3.06 |
| Quick ratio | 1.35 | 1.29 | 1.36 | 1.32 | 1.18 | 1.49 | 1.11 | 1.08 | 1.42 | 1.64 |
| Interest coverage | 24.2 | 22.5 | 11.4 | 15.6 | 29.0 | 23.1 | 18.6 | 13.1 | 10.1 | 32.0 |
| Working capital | $571.4M | $400.7M | $374.4M | $350.9M | $260.6M | $257.1M | $200.5M | $169.7M | $186.7M | $174.7M |
| Invested capital | $1.91B | $1.35B | $1.26B | $1.20B | $1.06B | $854.1M | $860.3M | $702.8M | $697.6M | $407.4M |
| Tangible asset value | $379.3M | $508.7M | $321.7M | $199.3M | $146.1M | $154.4M | $89.9M | $11.9M | −$71.7M | $147.4M |
| Net current asset value | −$156.8M | $63.4M | −$48.4M | −$132.0M | −$151.1M | −$101.2M | −$163.2M | −$165.2M | −$231.1M | $10.5M |
| Graham number | $45.03 | $38.94 | $30.63 | $24.95 | $21.52 | $19.98 | $20.32 | $17.30 | $13.18 | $10.18 |
| Graham net-net per share | −$8.00 | −$2.84 | −$4.33 | −$5.54 | −$5.25 | −$3.85 | −$4.87 | −$4.65 | −$5.63 | −$1.26 |
| Capital allocation | ||||||||||
| Dividends paid | $34.1M | $29.3M | $23.8M | $21.8M | $22.0M | $19.4M | $19.3M | $18.7M | $16.8M | $16.9M |
| Share buybacks (net) | $39.7M | $12.8M | $12.5M | $22.3M | $26.1M | $22.8M | $3.1M | $1.7M | $2.9M | $40.5M |
| Dividend payout ratio | 13.8% | 13.5% | 15.1% | 18.1% | 21.9% | 20.2% | 17.8% | 19.9% | 27.3% | 38.6% |
| Dividends + buybacks / free cash flow | 32.5% | 22.1% | 22.1% | 234.6% | 74.7% | 39.6% | 33.1% | 25.9% | 30.4% | 308.6% |
| Capex / revenue | 1.3% | 2.2% | 1.8% | 3.7% | 3.1% | 2.6% | 2.9% | 1.3% | 0.9% | 0.9% |
| Capex / operating cash flow | 10.8% | 17.6% | 15.6% | 73.8% | 36.7% | 21.8% | 34.3% | 15.2% | 11.0% | 24.7% |
| Capex / depreciation | 0.34 | 0.62 | 0.50 | 0.97 | 0.74 | 0.66 | 0.85 | 0.39 | 0.27 | 0.32 |
| Stock-based compensation / revenue | 0.7% | 0.8% | 0.8% | 0.7% | 0.6% | 0.7% | 0.7% | 0.7% | 0.5% | 0.7% |
| R&D / revenue | 0.6% | 0.7% | 0.7% | 0.8% | 0.9% | 1.1% | 1.1% | 1.2% | 1.4% | 1.9% |
| SG&A / revenue | 11.7% | 12.8% | 12.2% | 12.0% | 13.1% | 13.2% | 14.2% | 14.6% | 16.8% | 17.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 40.9 | 37.5 | 38.1 | 39.4 | 39.6 | 42.2 | 38.6 | 40.6 | 40.5 | 39.8 |
| Days of inventory on hand | 94.5 | 87.1 | 85.5 | 87.4 | 81.7 | 80.2 | 69.1 | 66.6 | 69.3 | 72.1 |
| Days payables outstanding | 20.8 | 20.0 | 19.9 | 23.0 | 23.0 | 25.4 | 20.6 | 19.9 | 23.4 | 25.5 |
| Cash conversion cycle (days) | 114.6 | 104.6 | 103.7 | 103.8 | 98.3 | 96.9 | 87.1 | 87.3 | 86.5 | 86.4 |
| Receivables turnover | 8.93 | 9.73 | 9.57 | 9.26 | 9.23 | 8.66 | 9.45 | 8.98 | 9.01 | 9.18 |
| Payables turnover | 17.51 | 18.24 | 18.30 | 15.89 | 15.88 | 14.36 | 17.69 | 18.33 | 15.61 | 14.31 |
| Inventory turnover | 3.86 | 4.19 | 4.27 | 4.18 | 4.47 | 4.55 | 5.28 | 5.48 | 5.26 | 5.06 |
| Asset turnover | 1.05 | 1.10 | 1.10 | 0.99 | 0.94 | 0.95 | 1.12 | 1.08 | 1.10 | 1.08 |
| Average receivables | $244.3M | $191.3M | $180.0M | $154.9M | $131.5M | $130.6M | $129.3M | $121.3M | $99.8M | $77.2M |
| Average payables | $88.5M | $72.8M | $69.5M | $68.6M | $58.2M | $58.3M | $50.8M | $44.0M | $43.4M | $36.6M |
| Average inventory | $401.3M | $317.2M | $298.1M | $260.9M | $207.1M | $183.9M | $170.1M | $147.2M | $128.7M | $103.7M |
| Intangibles / total assets | 41.9% | 38.4% | 42.0% | 43.4% | 46.7% | 45.3% | 47.3% | 50.6% | 53.3% | 38.4% |
Computed from FSS's annual financial statements (latest annual report filed February 25, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FSS valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Federal Signal traded at 27.1 times earnings, against a 10-year median of 22.7. Based on the latest twelve months, the trailing P/E is 24.2 and the forward P/E is 19.8. Federal Signal earned a return on equity of 19.2% and a return on invested capital of 15.9% in fiscal 2025. It ended the year with $594.6 million of debt and $63.7 million in cash and short-term investments, net debt of $530.9 million. It returned $73.8 million to shareholders: $34.1 million in dividends and $39.7 million in share buybacks, 32% of free cash flow.
See the FSS income statement, the FSS chart for price history, or the FSS stock overview for the latest quote and news.
FSS key metrics FAQ
What is Federal Signal's P/E ratio?
Federal Signal's trailing P/E ratio is 24.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 19.8. At the end of fiscal 2025 it was 27.1, compared with a 10-year median of 22.7.
What is Federal Signal's EV/EBITDA?
Federal Signal's enterprise value was 16.6 times EBITDA at the end of fiscal 2025 (enterprise value $7.2 billion, EBITDA $434.7 million); the current EV/EBITDA is 15.2.
What is Federal Signal's return on equity?
Federal Signal's return on equity (ROE) was 19.2% in fiscal 2025: net income of $246.6 million on average shareholders' equity of $1.3 billion.
What is Federal Signal's ROIC?
Federal Signal's return on invested capital was 15.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Federal Signal have?
Federal Signal had total debt of $594.6 million at the end of fiscal 2025, a debt-to-equity ratio of 0.43 and $530.9 million of net debt (1.22 times EBITDA).
What is Federal Signal's dividend yield?
Federal Signal's forward dividend yield is 0.53%. Federal Signal paid $34.1 million in dividends in fiscal 2025 ($0.55 per share), a payout ratio of 13.8%.
Does Federal Signal buy back its shares?
Yes. Federal Signal spent $39.7 million on net share repurchases in fiscal 2025 Shares outstanding changed −0.3% over the year, to 61.5M..
What is Federal Signal's free cash flow yield?
Federal Signal generated $227.1 million of free cash flow in fiscal 2025, a free cash flow yield of 3.4% on its market value at year-end ($6.7 billion).
What is Federal Signal's current ratio?
Federal Signal's current ratio was 3.02 at the end of fiscal 2025: current assets were 3.02 times current liabilities.