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Federal Signal FSS Contract Liabilities

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Other financials

Income statement

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Revenue$625.6M+34.9%
Gross profit$179.4M+37.2%
Operating income$99.7M+51.8%
Net income$70.4M+52.1%
EPS (diluted)$1.14+52.0%

Balance sheet

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Cash & equivalents$71.4M+24.2%
Total debt$589.1M+80.7%
Total equity$1.4B+19.3%
Total assets$2.5B+30.6%

Cash flow

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Operating cash flow$101.3M+176%
CapEx$6.7M+19.6%
Free cash flow$94.6M+204%

Valuation

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Market cap$7.95B+4.3%
Enterprise value$8.46B+7.6%
P/E29.4×-5.0×
P/S3.4×-0.5×

Profitability

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Gross margin29%+0.2pp
Operating margin16%+0.6pp
Net margin11.6%+0.5pp
FCF margin12.4%+1.9pp

Returns & leverage

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Return on equity20.5%+1.7pp
Debt / equity0.4×+0.1×
Current ratio2.8×+0.5×

Where this comes from

Reported directly by Federal Signal in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiability.

The source filing: Federal Signal’s 10-Q, filed April 29, 2026.

Filed
Apr 29, 2026, 3:19 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-028312

The Company recognizes contract liabilities when cash payments, such as customer deposits, are received in advance of the Company’s satisfaction of the related performance obligations. Contract liabilities are recognized as Net sales when the related performance obligations are satisfied, which generally occurs within three to six months of the cash receipt. Contract liability balances are not materially impacted by any other factors. The Company’s contract liabilities were $72.0 million as of March 31, 2026 and $53.1 million as of December 31, 2025. Contract assets, such as unbilled receivables, were not material as of any of the periods presented herein.

Item 1. Financial Statements (Unaudited).

FAQ

What is Federal Signal's contract liabilities?
Federal Signal (FSS) reported contract liabilities of $72M in Q1 2026.
How has Federal Signal's contract liabilities changed year-over-year?
Federal Signal's contract liabilities increased by 35.1% year-over-year, from $53.3M to $72M.
What is the long-term trend for Federal Signal's contract liabilities?
Over 5 years (2020 to 2025), Federal Signal's contract liabilities has grown at a 25.6% compound annual growth rate (CAGR), from $17M to $53.1M.
What does contract liabilities mean?
Revenue collected or billed in advance of performance — deferred revenue under ASC 606 terminology, representing future revenue obligations.

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