Federal Signal Corporation (FSS)

Total 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
Total assets	US$ in thousands	1,620,500	1,654,600	1,660,700	1,584,300	1,524,300	1,465,100	1,443,800	1,425,100	1,366,100	1,313,800	1,289,400	1,266,100	1,208,800	1,224,700	1,211,200	1,227,100	1,165,500	1,173,600	1,095,700	1,070,200
Total asset turnover		1.06	1.01	0.94	0.94	0.94	0.92	0.90	0.89	0.89	0.92	0.92	0.89	0.94	0.94	0.97	1.01	1.05	1.01	1.05	1.04

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,722,700K ÷ $1,620,500K
= 1.06

Federal Signal Corp.'s total asset turnover ratio, which measures the efficiency of the company in generating revenues from its total assets, has shown a generally positive trend over the past eight quarters. From Q1 2022 to Q4 2023, the total asset turnover ratio increased from 0.89 to 1.06, indicating that the company has been more effective in utilizing its assets to generate sales revenue.

The ratio fluctuated within a range of 0.90 to 1.06 during this period, with the highest ratio observed in Q4 2023 and the lowest in Q2 2022. These fluctuations suggest that while there has been an overall improvement in asset utilization, there may have been variations in the efficiency of operations or changes in the asset base over the quarters.

Overall, the increasing trend in total asset turnover indicates that Federal Signal Corp. has been able to improve its operational efficiency and maximize the productivity of its assets in generating sales. This is a positive indicator of the company's ability to effectively manage its resources and generate revenue from its asset base.