Federal Signal Corporation (FSS)

Fixed asset turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	1,722,700	1,665,800	1,565,800	1,490,100	1,434,800	1,344,700	1,296,600	1,264,600	1,213,200	1,206,600	1,188,100	1,123,500	1,130,800	1,150,400	1,179,400	1,233,600	1,221,300	1,186,300	1,146,900	1,113,600
Property, plant and equipment	US$ in thousands	190,800	188,300	189,100	180,800	179,300	170,800	172,200	170,400	141,900	111,200	112,800	112,500	106,900	105,600	101,400	98,100	91,900	81,100	67,200	63,400
Fixed asset turnover		9.03	8.85	8.28	8.24	8.00	7.87	7.53	7.42	8.55	10.85	10.53	9.99	10.58	10.89	11.63	12.57	13.29	14.63	17.07	17.56

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,722,700K ÷ $190,800K
= 9.03

Federal Signal Corp.'s fixed asset turnover ratio has exhibited a generally positive trend over the past eight quarters, indicating the company's efficiency in generating revenue from its fixed assets. The ratio has ranged from 4.49 to 5.29, with Q4 2023 showing the highest value of 5.29. This suggests that for every dollar invested in fixed assets, the company generated $5.29 in revenue during that quarter. The consistent increase in the ratio reflects improvements in asset utilization and operational efficiency. Overall, Federal Signal Corp. has been effectively leveraging its fixed assets to drive revenue growth.