Federal Signal Corporation (FSS) Stock

Federal Signal Corporation (FSS) is a Consumer Discretionary stock trading at $116.61 (as of 2026-07-17), with a market capitalization of $7.11B and a trailing P/E of 26.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Federal Signal Corporation designs, manufactures, and supplies products and integrated solutions for municipal, governmental, industrial, and commercial customers. It operates through Environmental Solutions and Safety & Security Systems, covering equipment such as street sweepers and related services, plus safety and security systems, and serves customers in the United States, Canada, Europe, and internationally.

Understand Federal Signal Corporation: how it makes money

Federal Signal designs and manufactures municipal, governmental, industrial, and commercial equipment, including street sweepers, sewer cleaners, vacuum and hydro-excavation trucks, and road-marking and waterblasting equipment, plus safety and security systems. It makes money by selling these products and integrated solutions to customers.

The profit engine is order intake turning into manufactured deliveries, with cost and execution influenced by production efficiency and labor availability in its Environmental Solutions Group manufacturing footprint.

Revenue by segment (latest quarter)
ESG	$0.5B
S&SS	$0.1B

Business quality (Solid): The company has clear reportable segments (Environmental Solutions Group, and Safety and Security Systems Group) and uses operating KPIs tied to orders and production improvement, but the provided KPI set does not show a broad set of customer or unit-volume measures.

Valuation: At 27× earnings, FSS trades 35% above the Automobiles & Trucks average (20×). Note: one-time items can distort reported P/E.

Bull case

Order intake tracking: The company discloses Net Orders (Border Intake) of USD_B 0.62, and also tracks Safety and Security Systems Group Orders of USD_B 0.08.
Manufacturing improvement focus: Environmental Solutions Group has a production improvement KPI for its two largest manufacturing facilities, at 17.0%.

Bear case

Labor availability risk: The company discloses Estimated Direct Labor Hours Lost Due to COVID-Related Absences of 20000.0 (count), which can disrupt production and timing.
Dependence on converting orders into output: Because results depend on selling equipment to municipal, governmental, industrial, and commercial customers, any slowdown in Net Orders (Border Intake) could pressure the order-to-delivery pipeline.

Valuation — source: SEC EDGAR (first-party)
Price	$116.61
Market Cap	$7.11B
P/E Ratio	26.3
EV / EBITDA	15.4
Price / Book	4.96
Price / Sales	3.04
FCF Yield	4.9%
DCF Value (model)	$64.74
DCF Upside vs Price	-44.5%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$2.18B
Net Margin	11.3%
Revenue Growth (YoY)	34.9%
EPS Growth (YoY)	52.6%

Financial Health — source: SEC EDGAR
Altman Z-Score	6.65 (safe)
Piotroski F-Score	7/9 (strong)

Valuation vs Sector & Industry
Stock P/E	26.3
Sector P/E (Consumer Discretionary)	21.6
Industry P/E (Automobiles & Trucks)	18.7
vs Sector	21.9%
vs Industry	40.8%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($980.30M)
Institutional Holders Tracked	10
Congressional Trades (recent)	3

Company
Sector	Consumer Discretionary
Industry	Automobiles & Trucks
CEO	Jennifer L. Sherman
Employees	4,700
Country	US
IPO Date	1980-03-17

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Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.