FEDERAL SIGNAL CORP /DE/ (FSS)

Motor Vehicles & Passenger Car Bodies

Latest Price

$113.98

TTM P/E

24.56

Normalized P/E

37.08

Div Yield

0.51%

Book Value

24.76

P/B Ratio

4.60

Valuation metrics

EPS: $4.01

Book value / share: $22.69

Formula: √(22.5 × EPS × BVPS)

Graham Number

$45.25

60% downside

Norm. op. income: $161M (median of 7yr)

Tax rate: 22%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$12.43

89% downside

Base FCF: $164M (median of recent 5yr)

Growth: 18%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$109.16

3% downside

EPS: $4.01

Target P/E: 37×

Formula: EPS × P/E

P/E Fair Value

$148.37

+31% upside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	9.62M	$1.24B	15.80%	+554.4K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	3.50M	$449.0M	5.74%	-152.2K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	2.65M	$340.0M	4.35%	-68.3K	2026-06-30
STATE STREET CORP	2.45M	$314.0M	4.02%	+139.4K	2026-06-30
Capital World Investors	2.24M	$288.0M	3.69%	+59.4K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	1.95M	$250.0M	3.21%	+155.8K	2026-06-30
FMR LLC	1.49M	$191.0M	2.45%	-154.7K	2026-06-30
NEUBERGER BERMAN GROUP LLC	1.44M	$185.0M	2.37%	+47.7K	2026-06-30
WASATCH ADVISORS LP	1.37M	$175.0M	2.24%	-141.2K	2026-06-30
DIMENSIONAL FUND ADVISORS LP	1.23M	$157.0M	2.01%	+18.5K	2026-06-30