FEDERAL SIGNAL CORP /DE/

Listed Company

FSSCIK 0000277509NYSELarge AcceleratedMotor Vehicles & Passenger Car BodiesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.18B

Net Income

$246.60M

Total Assets

$2.39B

Equity

$1.38B

Shares Out

61.00M

Op. Cash Flow

$254.70M

Business

FEDERAL SIGNAL CORP /DE/ designs, manufactures, and supplies products and integrated solutions for municipal, governmental, industrial, and commercial customers. It offers vehicles and equipment for maintenance and infrastructure markets—such as street sweepers, sewer cleaners, vacuum- and hydro-excavation trucks, waterblasting equipment, road-marking equipment, dump truck bodies, trailers, and specialty vehicles—along with public safety products including vehicle lightbars, sirens, industrial signaling, public warning, and alarm systems, plus parts, service, rentals, and training. Its operations are organized into Environmental Solutions and Safety and Security Systems reportable segments. The company sells through dealer networks, direct sales, distributors, service centers, and international channels across global markets.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	2,181	1,862	1,723	1,435	1,213
Cost of sales	1,549	1,329	1,273	1,090	925
Gross profit	631	533	450	345	289
Selling, engineering, general and administrative expenses	256	234	210	172	149
Amortization expense	18	15	15	13	11
Acquisition and integration-related expenses, net	16	3	400,000	−500,000	−2
Operating income	341	281	225	161	131
Interest expense, net	14	13	20	10	5
Pension settlement charges	0	4	0	0	10
Other expense, net	2	1	2	−400,000	−2
Income before income taxes	325	264	203	151	118
Income tax expense	78	48	46	31	17
Net income	247	216	157	120	101
Net earnings per share (usd per share)	4.06	3.55	2.59	1.99	1.65
Net earnings per share (usd per share)	4.01	3.5	2.56	1.97	1.63
Basic (shares)	61	61	61	61	61
Diluted (shares)	62	62	62	61	62

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	64	91	61	48	41
Accounts receivable, net of allowances for doubtful accounts of $2.8 and $2.6, respectively	292	196	186	174	136
Inventories	472	331	303	293	229
Prepaid expenses and other current assets	26	24	20	17	25
Total current assets	854	643	570	531	431
Properties and equipment, net	275	219	191	179	142
Rental equipment, net	203	173	135	109	108
Operating lease right-of-use assets	28	28	21	25	30
Goodwill	620	478	473	453	432
Intangible assets, net	383	200	208	208	206
Deferred tax assets	10	9	12	9	8
Deferred charges and other long-term assets	20	16	12	9	9
Total assets	2,393	1,765	1,621	1,524	1,366
Current portion of long-term borrowings and finance lease obligations	500,000	19	5	2	600,000
Accounts payable	98	79	67	72	65
Customer deposits	48	35	27	25	22
Compensation and withholding taxes	52	46	42	31	30
Current operating lease liabilities	8	7	7	7	9
Contingent consideration	15	4	—	—	—
Other current liabilities	61	52	48	43	44
Total current liabilities	282	242	196	181	170
Long-term borrowings and finance lease obligations	565	204	294	362	282
Long-term operating lease liabilities	22	22	15	19	22
Long-term pension and other post-retirement benefit liabilities	43	42	44	39	40
Deferred tax liabilities	72	58	53	51	53
Other long-term liabilities	27	11	16	13	14
Total liabilities	1,011	579	619	663	582
Common stock, $1 par value per share, 90.0 shares authorized, 70.8 and 70.3 shares issued, respectively	71	70	70	70	69
Capital in excess of par value	330	310	291	272	257
Retained earnings	1,315	1,103	916	782	684
Treasury stock, at cost, 9.9 and 9.2 shares, respectively	−264	−208	−194	−179	−151
Accumulated other comprehensive loss	−71	−89	−81	−84	−74
Total stockholders equity	1,382	1,186	1,002	861	784
Total liabilities and stockholders equity	2,393	1,765	1,621	1,524	1,366

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	81	65	60	55	50
Deferred financing costs	700,000	500,000	500,000	400,000	300,000
Stock-based compensation expense	15	16	13	10	8
Pension-related expense, net of funding	−500,000	−4	−2	−1	−4
Changes in fair value of contingent consideration	7	−200,000	−2	0	−4
Amortization of interest rate swap settlement gain	0	−1	−2	0	0
Payments for acquisition-related activity	−100,000	0	0	—	—
Deferred income taxes	14	5	−300,000	−4	−7
Accounts receivable	−27	−9	−6	−38	3
Inventories	−28	−24	10	−61	−24
Prepaid expenses and other current assets	400,000	−1	−2	−500,000	−3
Rental equipment	−56	−60	−45	−26	−16
Accounts payable	3	13	−9	8	6
Customer deposits	−9	7	1	1	4
Accrued liabilities	4	7	16	1	−6
Income taxes	−600,000	−5	−500,000	8	−12
Other	4	4	5	−2	−7
Net cash provided by operating activities	255	231	194	72	102
Purchases of properties and equipment	−28	−41	−30	−53	−37
Payments for acquisition-related activity, net of cash acquired	−501	−40	−55	−50	−132
Other, net	700,000	1	2	3	500,000
Net cash used for investing activities	−528	−79	−84	−100	−169
Increase (decrease) in revolving lines of credit, net	70	−77	−64	81	71
Proceeds from issuance of long-term borrowings	400	0	0	—	—
Payments on long-term borrowings	−120	−4	−800,000	0	0
Payments of debt financing fees	−4	0	0	−2	0
Purchases of treasury stock	−40	−7	−6	−16	−15
Redemptions of common stock to satisfy withholding taxes related to stock-based compensation	−14	−6	−7	−6	−11
Payments for acquisition-related activity	−4	0	−500,000	0	0
Cash dividends paid to stockholders	−34	−29	−24	−22	−22
Proceeds from stock compensation activity	4	2	4	200,000	4
Other, net	−13	−500,000	−100,000	100,000	−200,000
Net cash provided by (used for) financing activities	245	−121	−98	36	26
Effects of foreign exchange rate changes on cash and cash equivalents	1	−1	700,000	−600,000	−700,000
(Decrease) increase in cash and cash equivalents	−27	30	14	7	−41

Filings

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