15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 14.0% per year over the past 5 years.
Net income has grown faster than revenue (20.7% vs 14.0% per year).
Operating margin has expanded, at 15.6% in the latest year.
Free cash flow has grown 16.4% per year over the past 5 years.
Financial health
Total debt has grown slower than revenue (-0.8% vs 14.0% per year).
Operating income covered interest expense 24× in the latest year, up from 23× 5 years ago.
Shareholder returns
Dividends have been paid for 12 consecutive years, consuming 13.8% of earnings and 15.0% of free cash flow.
The dividend has grown 11.9% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$2.2B
$247M
28.9%
15.6%
17.8%
10.3%
$227M
—
$64M
2024
$1.9B
$216M
28.6%
15.1%
18.2%
12.3%
$191M
$211M
$91M
2023
$1.7B
$157M
26.1%
13.0%
15.7%
9.7%
$164M
$297M
$61M
2022
$1.4B
$120M
24.0%
11.2%
14.0%
7.9%
$19M
$361M
$48M
2021
$1.2B
$101M
23.8%
10.8%
12.8%
7.4%
$64M
$281M
$41M
2020
$1.1B
$96M
26.0%
11.6%
13.7%
8.0%
$107M
$209M
$82M
2019
$1.2B
$109M
26.4%
12.0%
16.9%
9.3%
$68M
$220M
$32M
2018
$1.1B
$94M
25.9%
11.2%
17.7%
9.2%
$79M
$209M
$37M
2017
—
$62M
—
—
13.5%
6.2%
$65M
$277M
$38M
2016
—
$44M
—
—
11.1%
6.8%
$19M
—
$51M
2015
—
$64M
—
—
15.7%
9.5%
$88M
—
$76M
2014
—
$64M
—
—
17.1%
9.7%
$59M
—
$24M
2013
—
$160M
—
—
45.6%
24.8%
$63M
—
$14M
2012
—
-$28M
—
—
-18.7%
-4.5%
$10M
$158M
$30M
2011
—
-$14M
—
—
-8.1%
-2.0%
-$10M
$223M
$10M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Sep '26
$656M
$80M
28.9%
17.0%
5.0%
3.2%
$80M
—
$74M
Jun '26
$670M
$86M
30.4%
17.6%
5.7%
3.5%
$101M
—
$63M
Mar '26
$626M
$70M
28.7%
15.9%
4.9%
2.9%
$95M
—
$71M
Dec '25
$597M
$61M
28.4%
14.0%
4.4%
2.5%
$90M
—
$64M
Sep '25
$555M
$68M
29.1%
16.9%
5.2%
3.5%
$54M
$212M
$54M
Jun '25
$565M
$71M
30.0%
17.3%
5.7%
3.7%
$52M
$268M
$65M
Mar '25
$464M
$46M
28.2%
14.2%
3.9%
2.5%
$31M
$276M
$58M
Dec '24
$472M
$50M
28.1%
14.9%
4.2%
2.8%
$82M
$211M
$91M
Sep '24
$474M
$54M
29.6%
16.0%
4.7%
3.1%
$61M
$230M
$74M
Jun '24
$490M
$61M
29.4%
16.5%
5.5%
3.6%
$25M
$254M
$49M
Mar '24
$425M
$52M
27.3%
12.8%
4.9%
3.1%
$23M
$271M
$49M
Dec '23
$448M
$46M
26.6%
14.1%
4.6%
2.9%
$95M
$297M
$61M
Sep '23
$446M
$43M
26.4%
14.0%
4.5%
2.6%
$42M
$364M
$41M
Jun '23
$442M
$40M
26.5%
13.4%
4.4%
2.4%
$26M
$407M
$49M
Mar '23
$386M
$27M
24.9%
10.2%
3.1%
1.7%
$1M
$374M
$38M
Dec '22
$392M
$35M
24.7%
11.9%
4.0%
2.3%
$32M
$361M
$48M
Sep '22
$346M
$32M
23.9%
11.4%
3.8%
2.2%
$6M
$330M
$36M
Jun '22
$367M
$34M
24.5%
12.6%
4.1%
2.3%
$8M
$325M
$31M
Mar '22
$330M
$21M
22.9%
8.6%
2.6%
1.4%
-$27M
$328M
$39M
Dec '21
$301M
$20M
22.4%
10.0%
2.5%
1.4%
$22M
$281M
$41M
Valuation over time
How the market has priced FSS against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 27.5× (Mar '23) to 29.0× (Nov '26).
The price-to-sales ratio has risen from 2.3× (Mar '23) to 3.3× (Nov '26).
The dividend yield has fallen from 0.7% (Mar '23) to 0.5% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is FSS growing its revenue and profit?
Over the past 5 years, Federal Signal Corp /De/'s revenue has grown 14.0% per year, and net income grown 20.7% per year. These are computed facts, not advice.
How much debt does FSS have?
As of FY2025, Federal Signal Corp /De/ reported — of total debt against $64M of cash; operating income covered interest expense 24×.
What is FSS's profit margin?
In FY2025, gross margin was 28.9%, operating margin 15.6%, and net margin 11.3%.
What is FSS's P/E ratio?
Federal Signal Corp /De/'s P/E (TTM) is 24.06 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the FSS stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 29.0× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.