Federal Signal
- Home ›
- US ›
- Capital Goods
Federal Signal Corporation, together with its subsidiaries, 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. The last earnings update was 19 days ago. More info.
Add to Portfolio Compare Print
- Federal Signal has significant price volatility in the past 3 months.
FSS Share Price and Events
7 Day Returns
1 Year Returns
FSS Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Federal Signal (FSS) | 5% | 13.1% | 28% | 15.8% | 96.4% | 73.1% |
| US Machinery | 1.1% | 0.8% | 15.1% | -5.5% | 48.4% | 29% |
| US Market | 1.6% | 2.1% | 12.8% | 3.2% | 38.6% | 43.6% |
1 Year Return vs Industry and Market
- FSS outperformed the Machinery industry which returned -5.5% over the past year.
- FSS outperformed the Market in United States of America which returned 3.2% over the past year.
FSS Value
Is Federal Signal undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Federal Signal
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Federal Signal.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 5 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 9.4% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Machinery Unlevered Beta | Simply Wall St/ S&P Global | 1.06 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.062 (1 + (1- 21%) (13.63%)) |
1.118 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.12 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.118 * 5.96%) |
9.39% |
Discounted Cash Flow Calculation for NYSE:FSS using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Federal Signal is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 9.39%) |
|
|---|---|---|---|
| 2019 | 77.50 | Analyst x3 | 70.85 |
| 2020 | 127.73 | Analyst x3 | 106.74 |
| 2021 | 136.40 | Analyst x1 | 104.19 |
| 2022 | 145.80 | Analyst x1 | 101.81 |
| 2023 | 153.00 | Analyst x1 | 97.66 |
| 2024 | 159.42 | Est @ 4.19% | 93.02 |
| 2025 | 165.40 | Est @ 3.76% | 88.23 |
| 2026 | 171.11 | Est @ 3.45% | 83.43 |
| 2027 | 176.64 | Est @ 3.23% | 78.73 |
| 2028 | 182.08 | Est @ 3.08% | 74.19 |
| Present value of next 10 years cash flows | $898.87 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $182.08 × (1 + 2.73%) ÷ (9.39% – 2.73%) |
$2,807.19 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $2,807.19 ÷ (1 + 9.39%)10 |
$1,143.83 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $898.87 + $1,143.83 |
$2,042.70 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $2,042.70 / 60.25 |
$33.9 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $33.90 |
| Current discount | Discount to share price of
$25.59
= -1 x ($25.59 - $33.90) / $33.90 |
24.5% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Federal Signal's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Federal Signal's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Federal Signal's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Federal Signal's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $1.56 |
| NYSE:FSS Share Price ** | NYSE (2019-03-19) in USD | $25.59 |
| United States of America Machinery Industry PE Ratio | Median Figure of 103 Publicly-Listed Machinery Companies | 21.1x |
| United States of America Market PE Ratio | Median Figure of 3,056 Publicly-Listed Companies | 17.77x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Federal Signal.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:FSS Share Price ÷ EPS (both in USD) = 25.59 ÷ 1.56 |
16.36x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Federal Signal is good value based on earnings compared to the US Machinery industry average.
- Federal Signal is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Federal Signal's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 16.36x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts |
5.4%per year |
| United States of America Machinery Industry PEG Ratio | Median Figure of 85 Publicly-Listed Machinery Companies | 1.54x |
| United States of America Market PEG Ratio | Median Figure of 2,107 Publicly-Listed Companies | 1.49x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 16.36x ÷ 5.4% |
3.01x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Federal Signal is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Federal Signal's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $8.81 |
| NYSE:FSS Share Price * | NYSE (2019-03-19) in USD | $25.59 |
| United States of America Machinery Industry PB Ratio | Median Figure of 129 Publicly-Listed Machinery Companies | 2.43x |
| United States of America Market PB Ratio | Median Figure of 5,154 Publicly-Listed Companies | 1.89x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:FSS Share Price ÷ Book Value per Share (both in USD) = 25.59 ÷ 8.81 |
2.91x |
* Primary Listing of Federal Signal.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Federal Signal is overvalued based on assets compared to the US Machinery industry average.
Value checks
We assess Federal Signal's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check) Federal Signal has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
FSS Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Federal Signal's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Federal Signal's earnings growth is positive but not above the United States of America market average.
- Federal Signal's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:FSS Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts | 5.4% |
| NYSE:FSS Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts | 6.1% |
| United States of America Machinery Industry Earnings Growth Rate | Market Cap Weighted Average | 11.1% |
| United States of America Machinery Industry Revenue Growth Rate | Market Cap Weighted Average | 3.6% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14.3% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 1,507 | 1 | ||
| 2022-12-31 | 1,402 | 1 | ||
| 2021-12-31 | 1,304 | 1 | ||
| 2020-12-31 | 1,203 | 151 | 104 | 5 |
| 2019-12-31 | 1,151 | 107 | 94 | 5 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 1,090 | 93 | 94 |
| 2018-09-30 | 1,058 | 93 | 91 |
| 2018-06-30 | 1,037 | 65 | 82 |
| 2018-03-31 | 970 | 69 | 66 |
| 2017-12-31 | 899 | 73 | 61 |
| 2017-09-30 | 827 | 58 | 43 |
| 2017-06-30 | 765 | 65 | 38 |
| 2017-03-31 | 713 | 44 | 36 |
| 2016-12-31 | 708 | 25 | 39 |
| 2016-09-30 | 718 | 47 | 45 |
| 2016-06-30 | 711 | 75 | 53 |
| 2016-03-31 | 744 | 89 | 62 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
All data from Federal Signal Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | ||||
| 2020-12-31 | 1.70 | 1.85 | 1.63 | 4.00 |
| 2019-12-31 | 1.53 | 1.54 | 1.52 | 3.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | 1.56 |
| 2018-09-30 | 1.52 |
| 2018-06-30 | 1.36 |
| 2018-03-31 | 1.11 |
| 2017-12-31 | 1.01 |
| 2017-09-30 | 0.73 |
| 2017-06-30 | 0.64 |
| 2017-03-31 | 0.61 |
| 2016-12-31 | 0.65 |
| 2016-09-30 | 0.73 |
| 2016-06-30 | 0.86 |
| 2016-03-31 | 1.00 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Federal Signal's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Federal Signal has a total score of 1/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
FSS Past Performance
How has Federal Signal performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Federal Signal's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
- Federal Signal's 1-year earnings growth exceeds its 5-year average (54.9% vs -11.5%)
- Federal Signal's earnings growth has exceeded the US Machinery industry average in the past year (54.9% vs 35.4%).
Earnings and Revenue History
All data from Federal Signal Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 1,089.50 | 93.70 | 146.50 | 13.00 |
| 2018-09-30 | 1,057.70 | 90.80 | 147.00 | 13.00 |
| 2018-06-30 | 1,037.00 | 81.60 | 147.30 | 13.00 |
| 2018-03-31 | 970.40 | 66.20 | 142.10 | 13.00 |
| 2017-12-31 | 898.50 | 60.50 | 131.00 | 13.00 |
| 2017-09-30 | 827.00 | 43.30 | 122.60 | 13.40 |
| 2017-06-30 | 765.00 | 38.30 | 115.20 | 13.40 |
| 2017-03-31 | 712.90 | 36.20 | 110.00 | 13.40 |
| 2016-12-31 | 707.90 | 39.40 | 109.20 | 13.40 |
| 2016-09-30 | 718.20 | 44.70 | 108.00 | 14.00 |
| 2016-06-30 | 711.20 | 53.00 | 106.40 | 14.00 |
| 2016-03-31 | 744.30 | 61.80 | 107.20 | 14.00 |
| 2015-12-31 | 768.00 | 65.80 | 108.00 | 14.00 |
| 2015-09-30 | 706.60 | 68.30 | 95.40 | 13.10 |
| 2015-06-30 | 746.20 | 67.70 | 99.30 | 13.10 |
| 2015-03-31 | 775.40 | 66.50 | 103.10 | 13.10 |
| 2014-12-31 | 779.10 | 59.70 | 106.90 | 13.10 |
| 2014-09-30 | 873.70 | 66.50 | 124.70 | 11.00 |
| 2014-06-30 | 863.70 | 68.10 | 123.00 | 11.00 |
| 2014-03-31 | 851.70 | 168.90 | 122.30 | 11.00 |
| 2013-12-31 | 712.90 | 152.50 | 102.70 | 11.00 |
| 2013-09-30 | 849.40 | 138.30 | 126.70 | 10.00 |
| 2013-06-30 | 825.10 | 126.00 | 128.20 | 10.00 |
| 2013-03-31 | 806.90 | 17.80 | 127.50 | 10.00 |
| 2012-12-31 | 803.20 | 22.00 | 126.90 | 10.00 |
| 2012-09-30 | 780.50 | 23.70 | 122.90 | 12.10 |
| 2012-06-30 | 763.30 | 22.50 | 117.70 | 12.10 |
| 2012-03-31 | 734.50 | 18.60 | 113.50 | 12.10 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Federal Signal has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Federal Signal used its assets more efficiently than the US Machinery industry average last year based on Return on Assets.
- Federal Signal's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Federal Signal's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Federal Signal has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
FSS Health
How is Federal Signal's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Federal Signal's finances.
The net worth of a company is the difference between its assets and liabilities.
- Federal Signal is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Federal Signal's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 1.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Federal Signal Company Filings, last reported 2 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 530.10 | 210.10 | 37.40 |
| 2018-09-30 | 511.80 | 222.20 | 35.00 |
| 2018-06-30 | 492.40 | 248.10 | 36.00 |
| 2018-03-31 | 469.90 | 267.30 | 35.40 |
| 2017-12-31 | 457.40 | 277.70 | 37.50 |
| 2017-09-30 | 425.20 | 283.10 | 28.20 |
| 2017-06-30 | 412.40 | 289.20 | 37.00 |
| 2017-03-31 | 397.70 | 64.50 | 56.80 |
| 2016-12-31 | 394.10 | 64.00 | 50.70 |
| 2016-09-30 | 401.50 | 65.60 | 50.80 |
| 2016-06-30 | 396.00 | 66.90 | 38.70 |
| 2016-03-31 | 407.40 | 0.60 | 77.30 |
| 2015-12-31 | 405.60 | 44.10 | 76.00 |
| 2015-09-30 | 399.20 | 47.00 | 66.20 |
| 2015-06-30 | 388.00 | 48.60 | 35.90 |
| 2015-03-31 | 367.70 | 52.90 | 23.00 |
| 2014-12-31 | 371.60 | 50.20 | 24.10 |
| 2014-09-30 | 379.30 | 68.60 | 29.10 |
| 2014-06-30 | 375.50 | 75.50 | 24.20 |
| 2014-03-31 | 360.60 | 88.10 | 16.00 |
| 2013-12-31 | 351.00 | 92.10 | 23.80 |
| 2013-09-30 | 290.20 | 127.50 | 20.90 |
| 2013-06-30 | 267.70 | 144.20 | 13.10 |
| 2013-03-31 | 143.90 | 161.30 | 12.80 |
| 2012-12-31 | 146.90 | 157.80 | 29.70 |
| 2012-09-30 | 158.50 | 159.90 | 9.10 |
| 2012-06-30 | 168.70 | 236.70 | 10.30 |
| 2012-03-31 | 180.60 | 235.60 | 13.40 |
- Federal Signal's level of debt (39.6%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has increased over the past 5 years (26.2% vs 39.6% today).
- Debt is well covered by operating cash flow (44.2%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 13.2x coverage).
Financial health checks
We assess Federal Signal's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Federal Signal has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
FSS Dividends
What is Federal Signal's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Federal Signal
shares you are expected to receive
$25
in your first year as a dividend.
Dividend Amount
- Federal Signal's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
- Federal Signal's dividend is below the markets top 25% of dividend payers in United States of America (3.63%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| United States of America Machinery Industry Average Dividend Yield | Market Cap Weighted Average of 78 Stocks | 2% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2004 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | ||
| 2022-12-31 | ||
| 2021-12-31 | ||
| 2020-12-31 | 0.33 | 2.00 |
| 2019-12-31 | 0.32 | 2.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-19 | 0.320 | 1.332 |
| 2018-10-30 | 0.320 | 1.474 |
| 2018-07-31 | 0.320 | 1.267 |
| 2018-05-01 | 0.320 | 1.352 |
| 2018-02-20 | 0.280 | 1.278 |
| 2017-10-24 | 0.280 | 1.373 |
| 2017-07-25 | 0.280 | 1.432 |
| 2017-04-21 | 0.280 | 1.686 |
| 2017-02-17 | 0.280 | 1.989 |
| 2016-10-25 | 0.280 | 1.855 |
| 2016-07-26 | 0.280 | 2.149 |
| 2016-04-26 | 0.280 | 2.127 |
| 2016-02-09 | 0.280 | 2.107 |
| 2015-10-27 | 0.280 | 1.807 |
| 2015-07-16 | 0.240 | 1.692 |
| 2015-04-28 | 0.240 | 1.584 |
| 2015-02-20 | 0.240 | 1.509 |
| 2014-10-21 | 0.120 | 0.792 |
| 2014-07-22 | 0.120 | 0.853 |
| 2014-04-23 | 0.120 | 0.831 |
| 2012-11-09 | 0.000 | 0.000 |
| 2012-08-03 | 0.000 | 0.000 |
| 2012-05-04 | 0.000 | 0.000 |
| 2012-03-14 | 0.000 | 0.000 |
| 2011-11-01 | 0.000 | 0.000 |
| 2011-08-05 | 0.000 | 0.000 |
| 2011-08-04 | 0.000 | 0.000 |
| 2011-04-29 | 0.000 | 0.000 |
| 2011-04-28 | 0.000 | 0.000 |
| 2010-10-26 | 0.240 | 3.692 |
| 2010-07-28 | 0.240 | 4.325 |
| 2010-04-27 | 0.240 | 3.678 |
| 2010-02-19 | 0.240 | 2.692 |
| 2009-10-27 | 0.240 | 3.845 |
| 2009-07-27 | 0.240 | 3.176 |
| 2009-04-22 | 0.240 | 2.984 |
| 2009-03-20 | 0.240 | 4.101 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Federal Signal's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (5x coverage).
- Dividends after 3 years are expected to be well covered by earnings (5.1x coverage).
Income/ dividend checks
We assess Federal Signal's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Federal Signal afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Federal Signal has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
FSS Management
CEO
| COMPENSATION | $3,434,972 |
| AGE | 53 |
| TENURE AS CEO | 3.2 years |
CEO Bio
Ms. Jennifer L. Sherman has been the Chief Executive Officer, President and Director of Federal Signal Corporation since January 1, 2016. Ms. Sherman served as the Chief Operating Officer of Federal Signal Corporation since April 29, 2014 until December 31, 2015 and also served as its Senior Vice President since October 2010 until December 31, 2015. Since joining Federal Signal Corporation in 1994 as corporate counsel, she has been responsible for litigation, securities compliance, corporate governance, intellectual property, patent law, employment, mergers and acquisitions. Ms. Sherman served as Vice President, General Counsel and Secretary of Federal Signal Corporation since 2004, Senior Vice President since 2008 and Chief Administrative Officer since October 2010. She also served as Deputy General Counsel and Assistant Secretary of Federal Signal Corporation. She has worked with the Board and executive leadership team to strengthen the Federal Signal Corporation’s strategic focus and growth, promote margin improvements and achieve record financial results. She negotiated a pivotal sale of underperforming assets and lowered Company debt levels. Ms. Sherman also has operational leadership experience within the Safety and Security Systems Group and the Corporation’s legal, human resources, information technology and government affairs activities. Ms. Sherman began her career as a Corporate Attorney with a practice focused in commercial contract disputes, labor law, bankruptcy, securities and collections. She has been an Independent Director of Franklin Electric Co., Inc. since January 1, 2015. She is involved in a number of charities in the Chicago area. Prior to joining Federal Signal Corporation, she worked for Revco Drug Stores and Barack Ferrazzano Kirschbaum Perlman & Nagelberg LLC. She serves on the Executive Boards of The Community House, a non-profit organization that provides social services for the greater Chicago area and the Center for Disability and Elder Law (CDEL). CDEL awarded Ms. Sherman with Outstanding Corporate Counsel awards in 2005 and 2006. In 2013, she was selected as one of the “Women Worth Watching” by the Diversity Journal. She is also a Fellow of the Kellogg School of Management at Northwestern University’s CEO Perspectives. Ms. Sherman earned a BBA in Business Finance from the University of Michigan, School of Business Administration and graduated cum laude with a JD from the University of Michigan Law School in 1989.
CEO Compensation
- Jennifer's compensation has increased by more than 20% in the past year.
- Jennifer's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Federal Signal management team in years:
- The tenure for the Federal Signal management team is about average.
Management Team
Jennifer Sherman
President
$3M
53
3.2 yrs
Ian Hudson
Senior VP & CFO
$864K
42
2 yrs
Dan DuPré
VP, General Counsel & Secretary
$613K
61
3.3 yrs
Mark Weber
Senior VP & COO
$1M
60
1.2 yrs
Svetlana Vinokur
VP of Corporate Development & Treasurer
38
3.9 yrs
Julie Cook
Vice President of Human Resources
$550K
56
6.5 yrs
Lauren Elting
VP & Corporate Controller
35
1.9 yrs
Mike Higgins
VP & GM of Elgin Sweeper Company
$547K
Board of Directors Tenure
Average tenure and age of the Federal Signal board of directors in years:
- The tenure for the Federal Signal board of directors is about average.
Board of Directors
Dennis Martin
Non-Executive Chairman
$221K
67
2.3 yrs
Jennifer Sherman
President
$3M
53
3.2 yrs
Brenda Reichelderfer
Independent Director
$150K
59
12.4 yrs
Bill Owens
Independent Director
$145K
68
7.9 yrs
John Workman
Independent Director
$148K
66
5.1 yrs
James Goodwin
Lead Independent Director
$198K
74
3.2 yrs
Richard Mudge
Independent Director
$142K
72
8.9 yrs
Bonnie Lind
Director
$143K
59
5.1 yrs
Pat Miller
Director
50
0.3 yrs
Gene Lowe
Director
50
0.1 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 07. Mar 19 | Sell | Dennis Martin | Individual | 06. Mar 19 | 06. Mar 19 | -60,000 | $24.87 | $-1,491,930 | ||
| 13. Nov 18 | Sell | Dennis Martin | Individual | 12. Nov 18 | 12. Nov 18 | -55,000 | $23.14 | $-1,272,502 | ||
Management checks
We assess Federal Signal's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Federal Signal has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
FSS News
Simply Wall St News
What You Must Know About Federal Signal Corporation's (NYSE:FSS) Beta Value
If you're interested in Federal Signal Corporation (NYSE:FSS), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.
Simply Wall St - – Full articleWhy We Think Federal Signal Corporation (NYSE:FSS) Could Be Worth Looking At
Help shape the future of investing tools and receive a $20 prize! … Federal Signal Corporation (NYSE:FSS) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects.
Simply Wall St - – Full articleHow Should Investors React To Federal Signal Corporation's (NYSE:FSS) CEO Pay?
In 2016 Jennifer Sherman was appointed CEO of Federal Signal Corporation (NYSE:FSS). … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Jennifer Sherman's Compensation Compare With Similar Sized Companies?
Simply Wall St - – Full articleWhat Is Federal Signal Corporation's (NYSE:FSS) Share Price Doing?
Federal Signal Corporation (NYSE:FSS), which is in the machinery business, and is based in United States,. … As a stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Today I will analyse the most recent data on Federal Signal’s outlook and valuation to see if the opportunity still exists.
Simply Wall St - – Full articleDoes Federal Signal Corporation (NYSE:FSS) Have A Good P/E Ratio?
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll look at Federal Signal Corporation's (NYSE:FSS) P/E ratio and reflect on what it tells us about the company's share price. … Federal Signal has a price to earnings ratio of 14.44, based on the last twelve months.
Simply Wall St - – Full articleA Closer Look At Federal Signal Corporation's (NYSE:FSS) Impressive ROE
Our data shows Federal Signal has a return on equity of 18% for the last year. … That means that for every $1 worth of shareholders' equity, it generated $0.18 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleHow Much Are Federal Signal Corporation (NYSE:FSS) Insiders Taking Off The Table?
So shareholders might well want to know whether insiders have been buying or selling shares in Federal Signal Corporation (NYSE:FSS). … The Last 12 Months Of Insider Transactions At Federal Signal. … Dennis Martin was the only individual insider to sell shares in the last twelve months
Simply Wall St - – Full articleWhat Investors Should Know About Federal Signal Corporation's (NYSE:FSS) Financial Strength
Investors are always looking for growth in small-cap stocks like Federal Signal Corporation (NYSE:FSS), with a market cap of US$1.4b. … However, an important fact which most ignore is: how financially healthy is the business? … I believe these basic checks tell most of the story you need to know.
Simply Wall St - – Full articleWhy Federal Signal Corporation (NYSE:FSS) Could Be Your Next Investment
Federal Signal Corporation (NYSE:FSS) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … that has been able to sustain great financial health over the past
Simply Wall St - – Full articleDoes Federal Signal Corporation (NYSE:FSS) Have A Volatile Share Price?
Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. … In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price.
Simply Wall St - – Full articleFSS Company Info
Description
Federal Signal Corporation, together with its subsidiaries, 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 Environmental Solutions Group segment offers a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks, water blasting equipment, dump truck bodies, and trailers under the Elgin, Vactor, Guzzler, Westech, Jetstream, Ox Bodies, Crysteel, J-Craft, Duraclass, Rugby, and Travis brand names. It also offers refuse and recycling collection vehicles, camera systems, ice resurfacing equipment, and snow-removal equipment. In addition, this segment engages in the sale of parts, service and repair, equipment rental, and training activities. The Safety and Security Systems Group segment provides systems and products for campus and community alerting, emergency vehicles, first responder interoperable communications, and industrial communications, as well as command and municipal networked security. Its products include vehicle lightbars and sirens, public warning sirens, general alarm systems, public address systems, and public safety software. This segment sells its products under the Federal Signal, Federal Signal VAMA, and Victor brands. The company sells its products through wholesaler, distributor, independent manufacturer representative, original equipment manufacturer, and direct sales force, as well as independent foreign distributor. Federal Signal Corporation was founded in 1901 and is headquartered in Oak Brook, Illinois.
Details
| Name: | Federal Signal Corporation |
| FSS | |
| Exchange: | NYSE |
| Founded: | 1901 |
| $1,541,899,527 | |
| 60,253,987 | |
| Website: | http://www.federalsignal.com |
| Address: |
Federal Signal Corporation 1415 West 22nd Street, Suite 1100, Oak Brook, Illinois, 60523, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | FSS | Common Stock | New York Stock Exchange | US | USD | 11. Feb 1969 | |
| DB | FSG | Common Stock | Deutsche Boerse AG | DE | EUR | 11. Feb 1969 |
Number of employees
Current staff
Industry
| Construction Machinery and Heavy Trucks | |
| Capital Goods |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/03/19 23:36 |
| End of day share price update: | 2019/03/19 00:00 |
| Last estimates confirmation: | 2019/03/13 |
| Last earnings filing: | 2019/02/28 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
