Federal Signal Corporation (FSS)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
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
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,620,500K
= 0.00

The debt-to-assets ratio of Federal Signal Corp. has shown relatively consistent values over the past eight quarters, ranging from 0.18 to 0.25. This ratio indicates the proportion of the company's total assets that are financed by debt. A lower debt-to-assets ratio suggests that the company relies more on equity financing rather than debt.

The trend of the debt-to-assets ratio fluctuates slightly over the periods provided, with a slight increase observed in the most recent quarters compared to the earlier quarters of 2022. Despite these fluctuations, the ratio generally remains within an acceptable range, indicating a manageable level of debt relative to the company's assets.

Overall, the debt-to-assets ratio analysis suggests that Federal Signal Corp. has been maintaining a relatively conservative capital structure with a reasonable balance between debt and assets, which could contribute to financial stability and flexibility in its operations.